Luxury home sellers using incentives to push brokers to sell

Sellers of the some of the country’s most expensive homes are increasingly negotiating broker commission structures to include incentives, in order to push agents to sell for a higher price. Luxury home owners are resisting paying the usual 5 to 6 percent commission on sales, agents told the Wall Street Journal. Instead, they opting to negotiate a tiered commission structure ...

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[Video] Commercial Observations: Third and Tech with Jonathan Kaufman Iger

Commercial Observer sits down with Jonathan Kaufman Iger, CEO of Sage Realty/William Kaufman Organization to discuss who’s moving to Third Avenue and the tech he’s excited about. Missed last month’s video? We spoke with Joanne Podell about the state of the retail market across the country and more. View the video here. About Berdon LLP, Accountants and Advisors: Berdon LLP is ranked ...

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Bridgewater buying 1.5-acre Greenpoint site for $58M

Bridgewater Capital Partners entered contract to buy a 1.5-acre waterfront Greenpoint site for about $58 million, after the dismissal of a year-long legal dispute in which the firm claimed it was pushed out of a joint venture to develop the site with owner Quadrum Global, sources told The Real Deal. The Queens-based development firm recently agreed to acquire the site ...

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Rabsky files retail plans for DoBro development site

Rabsky Group filed plans to build about 75,000 square feet of ground-floor retail on the site of his $226 million Downtown Brooklyn assemblage, where he has enough development rights to build a 770,000-square-foot skyscraper. The Brooklyn development firm, led by Simon Dushinsky and Isaac Rabinowitz, filed a permit application Wednesday with the city’s Department of Buildings that indicates he plans ...

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Norman Foster Disciple Brandon Haw Takes On New York With His Own Firm

London-born architect Brandon Haw began his career with Skidmore, Owings and Merrill in New York before joining Foster + Partners for what would be a 26-year run. Evolving to senior partner and director, Haw oversaw prestigious projects there including Hearst Tower in New York, Faena House in Miami and the Commerzbank Headquarters in Frankfurt, Germany. In 2014, Haw, 56, branched ...

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Kushner’s 666 Fifth partner and Trump buddy Steve Roth is a finalist to build the new FBI HQ – here’s a look at his empire

(Editor’s note: This story was originally published in November 2016.)  From the Archives: “Don’t be jerky,” Steven Roth told Gary Barnett. “It’s not even close.” Sitting among other industry titans at Bloomberg LP’s headquarters last spring, Roth was in full troll mode. Barnett had dared to suggest that One57, his cathedral for the 0.1 percent, was better than Roth’s luxury ...

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Under Construction: Inside the Redevelopment of 40 Exchange Place

A crack running down the side of a building should give any buyer pause. Yet the joint venture of Newmark Holdings and Northwind Group acquired 40 Exchange Place in the Financial District in 2015 from Weiss Realty for $115 million, while the building had two pretty visible fault lines running vertically down the façade. That wasn’t the only flaw. The ...

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Jeb Bush backing Massey’s mayoral run

Jeb Bush is backing Paul Massey as mayor of New York City, confirming that his $1,000 donation is an endorsement. The onetime presidential candidate made the donation in January, according a review of Massey’s campaign records by Politico. Kristy Campbell, a spokesperson for Bush told the publication the donation is an endorsement. “I can confirm Governor Bush is supporting Paul ...

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Jumping From Coaching to Hypnosis to Heating and Ventilation With Daniel Donnelly

The Executives’ Association of New York City was meeting to select the winners of its annual deals of distinction—given to business leaders and dealmakers from Greater New York who make a significant impact in some way—when the discussion turned to the gala itself. Members were batting around hoped-for attendance figures for the party, to be held at Capitale, the grand ...

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How Scabby the Inflatable Rat Became the Ultimate Union Symbol

You’ve seen it while walking the streets of New York: the 15-foot-tall inflatable rat with a bubbling, diseased-looking pink belly and big buck teeth. His name is “Scabby the Rat,” and he’s a staple of union construction protests across the country. Whenever the building trades are dissatisfied with a developer—typically for using nonunion labor on a project—they’ll set up a ...

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