Everybody Go Downtown
There is a long road ahead—that much is certain.
Mayor Bill de Blasio’s plan to create 90,000 new units of affordable housing and preserve an additional 110,000 units over the next 10 years will require the support of not only Albany and Washington, D.C., but also many of the real estate industry’s key players in addition to city resources.
Would Steve Witkoff make up his mind already? The pistol-packing, Bronx-bootstrapping developer has been juggling the Terracotta crown jewel of his empire since he bought it in 1998 for $138 million. Two years later, he announced plans for grandiose condos atop the Gilded Age tower, but that was delayed by 9/11. In 2007, he shifted back Read More
SoHo Properties has invested in Chelsea.
Sharif El-Gamal, chairman and CEO of the real estate investment group, has dropped $45.7 million on the property at 31 West 27th Street, which PropertyShark describes as a 12-story, 108,594-square-foot office building.
“We just bought it for the income,” Mr. El-Gamal told The Observer. “It’s got great long-term leases, and Read More
When the process server finally came to serve an eviction notice on Tom Oliva and his little barber shop in the Woolworth Building, its home of 33 years, he couldn’t say he was surprised. Just angry.
“It’s terrible,” he said, nearly spitting, during an interview on March 30, the day he received the eviction notice. Read More
The up-and-coming brokers and landlords who attend the monthly luncheons of the Young Men’s-Women’s Real Estate Association are usually too busy networking to listen closely to the guest speakers. But the audience sat at rapt attention last winter when Steven Witkoff, a 41-year-old former Harlem landlord who built one of the country’s largest real estate Read More