The Real Deal - New York Real Estate News

New York’s McMansions are definitely not dying

Posted: 27 May 2019 01:00 PM PDT

National Drive in Mill Basin, Brooklyn, is a museum of late-20th-century suburban hodgepodge: A modest colonial here, a questionable Spanish villa there. Stucco sits beside stone and brick beside vinyl. None are so remarkable, however, as the edifice sitting where National Drive ends near the Mill Basin inlet, just off Jamaica Bay. With its white façade, black windows and wall-to-wall marble, 2458 National Drive is an acquired taste. A buyer put up $10 million last […]

The Closing: Eliot Spitzer on clashing with financial titans, second chances and the RE empire his dad built

Posted: 27 May 2019 11:00 AM PDT

Eliot Spitzer needs little introduction. Most know him as the New York governor who resigned in the wake of a prostitution scandal in 2008. But the 59-year-old — who has reinvented himself several times over — now runs the real estate firm his late father, Bernard, founded in the 1950s. Spitzer got his start in the public sector as a young lawyer in Manhattan District Attorney Robert Morgenthau’s office, where he prosecuted mob cases in […]

WATCH: How to build a multi-billion dollar billboard, according to TSX Broadway

Posted: 27 May 2019 09:00 AM PDT

UPDATED Friday, May 10, 7:01 p.m.: TSX Broadway may become the largest billboard the world may have ever seen. The mixed-use project developed by L&L Holding Company, Fortress Investment Group and Maefield Development also contains a landmarked theater and, once completed in 2022, will have a permanent stage facing out to Times Square, along with a 669-key hotel and 75,000 square feet of retail. The LED-lighting system will be built into the skin of the […]

The condo discount dance

Posted: 27 May 2019 07:00 AM PDT

The launch party for Extell Development’s 1010 Park Avenue in mid-October had all the trappings of a strong market: wall-to-wall brokers, a catered sushi bar and passed champagne flutes. But on a night meant to celebrate the luxe 11-unit condo project — where prices start at $12.95 million — Gary Barnett had a sobering message for brokers, telling them he’d cut prices three times ahead of the sales debut. That one of the city’s most active […]

Elevated risk: Malfunction at NYCHA is putting public housing residents at greater risk of being injured in its elevators

Posted: 27 May 2019 05:00 AM PDT

On New Year’s Day, Gina Gutloff and her boyfriend were headed out for breakfast when they stepped into the elevator on the 13th floor of their building at 1595 Madison Avenue in East Harlem. As the doors closed, the pair broke into a two-step dance, playfully bopping from side to side, when suddenly, Gutloff recalled, her stomach lurched. The elevator lost power and went dark. “So I started to panic,” the 25-year-old said in an […]