In This Week’s Observer…

  

Manhattan Buildings Sell for $940 M.

In one of the largest residential portfolio sales in city history, Urban American Management and City Investment Fund have purchased a series of buildings in Harlem and one in Roosevelt Island for $940 million, according to two sources.

White-Shoe Firm Davis Polk Re-ups, Expands at 450 Lexington

The preeminent white-shoe law firm, Davis Polk, is staying right at home. The firm has signed a massive 650,000-square-foot renewal at 450 Lexington Avenue, including a 27,000-square-foot expansion

Go to Commercial Breaks by John Koblin.

 

You’re the Top! You’re Rupert’s Triplex

If Jefferson or Jesus were well-heeled New Yorkers and could get past the classy co-op board, they would live in 834 Fifth Avenue. “For me, it’s been heavenly and peaceful,” said Ruth Stanton, who has been in her seventh-floor apartment since 1975. (John and Susan Gutfreund are next-door.)

Go to The Observatory by Max Abelson.

 

Bloomberg Wants to Give Ferries a $40 M. Boost

On the face of it, the ferry business should be doing well enough to thrive without the $40 million that the Mayor is proposing to spend over the next two decades. But in reality, these three ferry operators--not to mention two other smaller companies--are having a rough time of it.

Go to story by Matthew Schuerman.

 

Meet the New Kids Buying the Blocks

In other words, Broadway Partners looks nothing like the Manhattan commercial real-estate world. And yet here they are, totally dominating the stage.

Go to story by John Koblin.

 

To Catch a Bartender

Authorities have lately embarked on a covert bar-busting rampage across the densely liquor-licensed East Village and Lower East Side, routinely slapping big, bright restraining orders on doors and threatening operators with hefty fines and closure for up to a year.

Go to Counter Espionage by Chris Shott.

 

The Voodoo Economics of Rent-Stabilization

By how much? That's the only real question facing the Rent Guidelines Board as it makes its annual decision this spring on raising rents for the city's 1 million-plus rent-stabilized apartments.

Go to The Lab by Tom Acitelli.

 

Ladies and Gentlemen, the Original Celebrity Broker

Linda Stein managed The Ramones in their heyday. Since then, she's brokered for Sting, Billy Joel (after his 'sad liquid problems'), and a bounty of super-wealthy well-knowns.

Go to The Sit-Down by Max Abelson.

 

Ambassador Buys KT McFarland’s 770 Park Spread for $17.5 M.

One-time G.O.P. Senate hopeful K.T. McFarland has sold her 13-room apartment at 770 Park to W.L. (Lee) Lyons Brown Jr., a former George W. Bush–appointed ambassador to Austria. He paid $17.5 million.

Go to Manhattan Transfers by Max Abelson.

 

Empire of the Imperiolis

He is a man of few words, and she is a woman of many rosettes. Together, the Imperiolis—Sopranos star Michael and interior and theatrical set designer Victoria—are building an ever-growing performing, media and real-estate empire.

Go to Interiors by Toni Schlesinger.

 

Starck on New Gramercy Condo: ‘Can We Talk Sex Instead?’

Mr. Starck was on a long-winded, tangent-littered response to the question: Is his latest building, Gramercy, really in Gramercy?

Go to Deeds and Deals.