The Real Deal - New York Real Estate News

Two more retail tenants sign on at Macklowe’s 432 Park

Posted: 16 Mar 2019 03:12 PM PDT

The massive photo portrait of Harry Macklowe and his new wife isn’t the only new thing at 432 Park Avenue. At a panel at 92Y’s third annual City of Tomorrow summit, Cushman & Wakefield’s executive vice chairman Joanne Podell revealed that two more tenants had signed leases at the 130,000-square-foot commercial component of Macklowe’s luxury condominium tower. New York Post columnist Steve Cuozzo was making a larger point about how disconnected landlords and developers are […]

Russian real estate investor in South Florida seeks political asylum

Posted: 16 Mar 2019 01:00 PM PDT

A Russian real estate investor who spent roughly $1.4 million on South Florida properties is seeking political asylum as he attempts to stay in the U.S. Sergey Danilochkin moved to South Florida in 2010 after he was accused of participating in a $170 million tax fraud scheme in Russia. Danilochkin, who has claimed innocence, believes he could be killed if he’s forced to return to Russia, the Miami Herald reported. The fraud scheme was orchestrated […]

Swedish private equity firm closes huge infrastructure fund

Posted: 16 Mar 2019 12:00 PM PDT

Swedish private equity firm EQT closed its largest infrastructure fund to date, as market experts worry that the industry is overpaying for assets. EQT secured €9 billion in contributions for infrastructure assets in sectors like energy, transportation and telecommunications, among others, the Financial Times reported. The company’s new fund surpassed its goal of €7.5 billion. Pension and sovereign wealth funds contributed to EQT’s infrastructure fund, most of which will be deployed throughout North America and […]

This 130-block swath of the Bronx could see a boom in development

Posted: 16 Mar 2019 11:00 AM PDT

Another rezoning could be on its way to the Bronx, this time along Southern Boulevard. The Department of City Planning started the second phase of its community engagement process for the area this week, according to City Limits. The study area includes the borough’s Longwood and Crotona Park East neighborhoods, covering Southern Boulevard between East 163rd Street and the Cross Bronx Expressway. It spans more than 130 blocks and is home to 17,000 residential units […]

Dreamers have effectively been cut out of FHA mortgage program: report

Posted: 16 Mar 2019 10:00 AM PDT

Are Dreamers eligible for government-backed mortgages? Federal agencies are sending mixed messages about Deferred Action Childhood Arrivals recipients’ eligibility for Federal Housing Administration loans, HousingWire reported. That’s created confusion and essentially cut off FHA lending to Dreamers. Several lenders and mortgage industry players said the Department of Housing and Urban Development sent a statement saying DACA recipients, or Dreamers, can no longer get FHA loans. According to HousingWire, one lender shared a message that appears […]

Spain’s Socialist government hits apartment landlords with rent cap

Posted: 16 Mar 2019 09:00 AM PDT

Just weeks before Spain’s upcoming general election, the country’s ruling Socialist government has issued a decree limiting rent increases on apartments to the inflation rate. Among the landlords affected by this move is Blackstone, which has invested billions of dollars in Spanish real estate since the country’s 2012 financial crash, Bloomberg reported. “Companies that were thinking about investing in the real estate sector will rethink now whether Spain is attractive,” Madrid property and insurance lawyer […]

Brooklyn Botanic Garden fears being left in the shade by proposed condo towers

Posted: 16 Mar 2019 08:00 AM PDT

Shade might be good for wallflowers, but most plants need light. The Brooklyn Botanic Garden is opposing zoning changes that would allow Bruce Eichner’s Continuum Company and Joel Bergstein’s Lincoln Equities to build two residential towers at 960 Franklin Street in Crown Heights, according to the Wall Street Journal. The organization says the towers would cast shade on specific parts of the garden for three hours a day, disrupting the workings of 21 greenhouses, nurseries […]

Concierge Auction’s latest, an 80-acre coastal estate on the block, comes as firm faces scrutiny

Posted: 16 Mar 2019 07:00 AM PDT

A sprawling 80-acre estate on the California coast, which had been listed at $60 million, will sell to the highest bidder in a no-reserve auction next month. Selling the property in Cambria will be Concierge Auctions, which is a defendant in four ongoing lawsuits over accusations it used fake bidders to pump up the prices of homes. The allegations include that Concierge Auctions made sellers think there was more interest in a property than there […]

Thor scales back plan for spec office project in Chicago

Posted: 16 Mar 2019 06:00 AM PDT

Thor Equities shaved two floors off its planned spec office building at the gateway to Fulton Market, and said it hopes to start work this summer. The New York-based firm originally planned a 20-story office complex with ground-floor retail at 800 West Fulton Street, but reduced it to 18 stories after closed-door discussions with neighbors, according to Curbed. The new design from Chicago-based Skidmore, Owings & Merrill features multiple setbacks and terraces as it rises […]