The Real Deal - New York Real Estate News

WeDone: South Beach landlord seeks to evict WeWork for unpaid rent

Posted: 03 Jul 2020 03:51 PM PDT

The landlord of a WeWork location in South Beach is looking to evict the embattled co-working giant for what it says is more than $650,000 in unpaid rent. A photo obtained by The Real Deal shows the three-day notice tacked onto the door of the 43,500-square-foot building at 429 Lenox Avenue, which is fully occupied by WeWork. WeWork did not pay rent in April, May or June, according to the notice. WeWork began operating at

Another palace for the king: LeBron James buys Beverly Hills mansion: sources

Posted: 03 Jul 2020 03:18 PM PDT

Basketball superstar LeBron James is in contract to buy a mansion in Beverly Hills from the estate of a fabled soap opera creator, sources close to the transaction told The Real Deal. The home at 9955 Beverly Grove Dr., belonging to the estate of “The Bold and the Beautiful” co-creator Lee Phillip Bell, was being marketed at $39 million. It’s unclear what James is paying for the 13,000-square-foot property, which sits on a 2.5-acre plot

TRD Quarantine Cribs: Take a tour of Cathy Franklin’s whiskey distillery & home

Posted: 03 Jul 2020 11:00 AM PDT

Here at The Real Deal, we’re delivering news and analysis every day — and lately it feels like a lot of doom-and-gloom. But one small silver lining in the middle of a pandemic is that all the Zoom calls have given us an inside look at how our colleagues live. In our new video series Quarantine Cribs, we’re bringing viewers inside the homes of the industry’s top pros. We’ll see vacation getaways, stylish studios and

TRD Insights: This is what office tenants are paying to lease up 55 Hudson Yards

Posted: 03 Jul 2020 11:00 AM PDT

Just a few months before apparently souring on the concept of physical office space, Facebook was the latest high profile office tenant to sign on for Related’s Hudson Yards megadevelopment, taking up a total of 1.5 million square feet at 30, 50 and 55 Hudson Yards. Months later, in the early days of coronavirus’ rapid spread in New York City, one of Facebook’s new neighbors at 55 Hudson Yards — Steve Cohen’s Point72 Asset Management

What would a WeWork bankruptcy look like?

Posted: 03 Jul 2020 09:00 AM PDT

In April, a Manhattan landlord who leases a large space to WeWork received an email from a broker who was working on behalf of the struggling co-working company to renegotiate its office leases. “I told him politely it’s not happening, so don’t waste your time,” the landlord said, noting that because his lease with WeWork is below market-rent, he’s comfortable taking the space back. “I’m going to play hardball.” Brokers at Newmark Knight Frank and

The Closing: Carrie Chiang

Posted: 03 Jul 2020 07:00 AM PDT

Carrie Chiang is the consummate closer. To date, she has sealed more than $6 billion in residential real estate deals. Hand-picked by Barbara Corcoran to join her eponymous brokerage more than 35 years ago, Chiang has been a perennial top producer along with her partner, Janet Wang. Last year, the duo was No. 1 on The Real Deal’s ranking of top listing agents in Manhattan, with $384 million in exclusives. And the team closed $174

As Black Lives Matter protests rage on, NY real estate bleeds blue

Posted: 03 Jul 2020 05:00 AM PDT

UPDATED, 1:42 p.m., June 6: Each year, titans of real estate get out their tuxedos and checkbooks and head to a ritzy gala to support their favorite city agency: the New York Police Department. The New York Police Foundation soiree draws thousands of guests and is sponsored by some of the biggest names in New York City real estate. It pulls in millions for the NYPD. “You’d be hard-pressed to find someone in the real