The massive triplex is still for sale after first being put on the market for $25 million in 2010 From left: the Clocktower Building at 1 Main Street in Brooklyn and Anne Hathaway One of the city’s priciest — and most luxurious — apartments has been languishing on the market. Following various price drops and broker swaps, […]
2015 Year End Summary of NYC’s Residential Real Estate Market by Victor Jung
“Price is what you pay. Value is what you get.” Warren Buffet’s wise words handily sum up a dominant theme in New York’s residential market these days — which is to say, despite all the talk of glitzy new condos and penthouses with astronomical prices, developers, buyers and brokers are increasingly chasing value. The phenomenon […]
Bronx Getting Hotter With Recent Related Cos Transaction – Victor Jung
Related Cos., in partnership with New York City pension funds, is ramping up its multifamily moves, with the $112.5 million purchase of a 20-building Bronx portfolio – the largest package to change hands in the borough this year, sources told The Real Deal. The portfolio contains 737 apartments spread throughout the North, West and South Bronx. […]
The Year of the Chinese Investor
Inside the growing wave of investors buying and building in the five boroughs March 01, 2015 By E.B. Solomont For more than two decades, China’s most populated city, Shanghai, has experienced a building frenzy unlike any other: Developers have built office buildings in the city of 24 million as far as the eye can see, […]
Anatomy of a deal: Inside Related/Oxford’s unusual financing of Hudson Yards
By Hiten Samtani For better or for worse, every big-name New York City developer is defined by their most recent marquee project. Bruce Ratner’s Forest City Ratner propelled Brooklyn into a new phase with Atlantic Yards; Gary Barnett’s Extell Development is redesigning the white glove with One57, and Harry Macklowe is trying to erase the past […]
Greenwich, Conn. sees influx of Chinese buyers
549 North Street in Greenwich, Conn. listed for $9.5 million. The home is an example of a home that brokers hope will appeal to Asian buyers. It’s not just Manhattan and waterfront Brooklyn that are attracting China’s real estate-crazed nouveau riche. Greenwich, Conn. is currently seeing an influx of Chinese buyers, spurring local brokerages to […]
McDonald’s Profit Edges Lower
Excerpt from Wall Street Journal The burger giant has been struggling to maintain relevance among younger consumers and fill orders quickly in kitchens that have grown overwhelmed with menu items. AP McDonald’s Corp. MCD +0.11% said its profit for the first three months of the year dropped 5.2% as the fast-food giant worked to revive […]
The Education of the Luxury Buyer
Excerpt from Wall Street Journal Seasoned buyers and first-time buyers agree both cited views and chef kitchens as the most important luxury-home features, according to a survey. Getty Images Follow the habits of today’s high-end real estate market. The first thing that comes to mind is the education of the luxury buyer. Seasoned home buyers—people who […]
Tax Refunds May Fuel Windfall for Retailers
Accountants weren’t the only ones cheering this year’s record number of tax returns. This past Tuesday’s dreaded tax deadline actually marked a pleasant occasion for most filers. Of the 100 million or so returns processed through April 4, nearly 80% resulted in a refund averaging $2,792. The total sum paid out was about $5 billion, […]
Rochelles Bar Soft Opened Last Night with Haute Snacks and Whiskey Classics
Excerpt from Village Voice: By Hannah Palmer Egan Fri., Nov. 15 2013 In recent memory, the NYC bar scene has witnessed few belly-flops as full-on and frontal as Matt Levine’s idiotic Cocktail Bodega (an alcoholic smoothie bar), which shuttered in April after just seven months in business. Afterward, Levine filed a $20 million lawsuit against his former […]
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