Our Jotham Sederstrom caught up with Ric Clark, president of downtown Manhattan’s biggest office landlord, Brookfield, just as news of major moves at the firm trickled out. Chiefly, CB Richard Ellis exec Mitch Rudin would leave that firm after more than two decades to head Brookfield’s U.S. operations.
Why’d Mr. Rudin do it? According to Read More
Hines Interests is in contract to sell the imposing hexagon-topped former Morgan Stanley hub at 750 Seventh Avenue, multiple sources told The Observer.
Interest from bidders was “through the roof,” according to one person involved in the process, with 20 to 30 prospective buyers, including a number foreigners from the Middle East and Asia. An offshore investor was Read More
Our politics desk is putting together a piece for tomorrow’s paper on Donald Trump, the presumptive presidential candidate. But what about Mr. Trump, the real estate tycoon? Or, more to the point, what about Mr. Trump, the local real estate tycoon?
He’s always kind of been of New York, but not so much in it, Read More
Thick black slabs of plywood encase what some call North America’s most valuable development site. The location of the onetime Drake Hotel, now a rubble-strewn yard at Park Avenue and 56th Street, is literally a black box.
A black box to everyone, that is, except Harry Macklowe. Barely two years after his fortune was Read More
With the record tourism in the Big Apple last year, coupled with the improvements in the hospitality industry, one of the most favored asset classes for investment is a New York City hotel. While many hotels are owned by local independent investors, one of the most active investors in this asset class is real estate Read More
The fight over raising the rents on New York City’s one million regulated apartments used to be about business. Now it’s become personal.
During a meeting Monday with Democratic Senate and Assembly members and activists, the typically monotone Andrew Cuomo was furious. “I can’t believe they mentioned my family,” the governor said.
He was referring to a heavily Read More
Protesters looking to block Wal-Mart from opening their first store in New York City are now aiming at the developer who could play a role in the mega-store’s arrival: Related Companies.
Here’s video of a musical protest conducted inside the Time Warner building, where Related is headquartered. While it’s not entirely clear what legal options Read More
Massey Knakal is marketing one of the largest investment-sales portfolios in recent years in New York City.
The more than 200,000-square-foot bouquet includes six development sites and income-producing properties in northern Manhattan. “We expect tremendous interest in this portfolio, which would take years to put together individually,” firm chairman Robert Knakal, who is leading the assignment (and Read More
In an op-ed yesterday in the New York Post, Nicole Gelinas of the right-leaning Manhattan Institute makes yet another case against rent-regulation in New York City apartments, a timely topic given the looming deadline for the current regs and all the recent mishegosh in Albany as a result.
Rent-regulation reformers could be poised for their first victory in decades.
Ninety-one state lawmakers wrote a letter to the governor this week, calling on him to include what proponents call rent-regulation reform in the budget due March 31. In a surprising turn, the governor agreed. He said at a March 17 press conference that he now Read More
