City slows pursuit of rezoning amid community, political backlash

Mayor Bill de Blasio’s efforts to rezone as many as 15 neighborhoods have hit a wall of political and local opposition. Two years after pledging to create affordable housing through these expansive rezonings, the mayor has little to show for it: only one successful rezoning in East New York. Politico reported that as a result of fierce pushback, the administration ...

Read More »

NYC resi sales hit $12.3B in Q1 2017: REBNY

New York City’s residential market kicked off 2017 on a high note, with $12.3 billion worth of sales, up 15 percent from the prior year, according to a report from the Real Estate Board of New York. Despite the fears of a luxury slowdown contaminating the market, condominium prices in Manhattan, Brooklyn and Queens hit new records in the first ...

Read More »

Isaac Kassirer buys 11-building Bronx portfolio for $54M

Isaac Kassirer picked up an 11-building Bronx multifamily portfolio from Prana Investments for $54.4 million, according to property records filed with the city Monday. The head of Emerald Equity Group continued his multifamily buying spree in the city with the purchase of roughly 300 rent-stabilized apartments in the neighborhoods of Fordham Heights, Concourse Village and Belmont. Kassirer closed on the ...

Read More »

Paydirt: When brokers sound human

When Morgan Stanley was eyeing an exit from New York City in the 80s, Lew Rudin and Bob Tisch arranged for a sit-down with the bank. And they brought a few of their friends. “Moynihan, Rangel, the Cardinal, David Rockefeller — it was intimidating,” Rudin told the New York Times. ”Moynihan got up and said, ‘I’m going to be the ...

Read More »

Investment Adviser Moving Within Midtown’s Plaza District to Park Avenue Tower

Cyrus Capital Partners has signed a 23,356-square-foot lease at the Park Avenue Tower at 65 East 55th Street, Commercial Observer has learned.   The company, an investment adviser that manages a $4.5 billion portfolio, will occupy the entire 15,048-square-foot 34th floor and an 8,308-square-foot portion of the 35th floor of the 36-story office tower between Park and Madison Avenues. Landlord ...

Read More »

Inspiration for an Office Revival at 145 East 57th Street

Manhattan’s 57th Street has evolved into a haven for the one percent. Appropriately known as Billionaire’s Row, the blocks south of Central Park feature some of the most luxurious shopping and the finest residential real estate in the world. As the corridor’s retail and residential offerings grow, the commercial office market is taking a page from its residential counterpart. ABS ...

Read More »

“The South Bronx is coming back,” 1981 edition: VIDEO

With big developments in the pipeline and celeb-filled parties, the South Bronx is finally hot. The New York Times named the South Bronx one of the 52 hottest destinations travelers should plan to visit this year. But for decades, politicians have been promising to fix the South Bronx with fresh waves of development. And during his 1981 campaign, former mayor ...

Read More »

Daughter of RE investor sues mom over Gramercy apartments

Elizabeth Marcus, the daughter of the late real estate investor Alan Marcus, claims that her mother swiped her trust fund, which included tony real estate. Her mother, Geraldine Lettieri, won control over the family estate in 2003. Now, the daughter says that her inheritance has been sucked dry, according to a lawsuit cited by the New York Post. Marcus specified in ...

Read More »

The most expensive homes you can buy in 12 countries

Hidden behind discreet entrances, imposing gates, and even dense jungle vegetation are some of the most exclusive properties in the world. Point2Homes, an international real estate listings database, compiled a list of the most expensive homes you can buy in 12 different countries. From a palatial dwelling in Russia to a tropical paradise in Costa Rica, these pricey properties are pretty incredible. Take a ...

Read More »