Revealed: Maddd Equities’ two-tower DoBro resi project

Maddd Equities has applied for a site on Tillary Street to be part of the Special Downtown Brooklyn District so the firm can build two interconnected residential towers. The Jorge Madruga-led development firm is planning two towers, one with 23 floors and the other with 21 floors, New York YIMBY reported. In total, there will be 183 units, 79 of ...

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SL Green plans office tower near WTC

SL Green Realty is planning to build a Financial District office tower close to the World Trade Center. The real estate investment trust received permits last month to put up scaffolding and begin demolishing three buildings it owns at 183 and 187 Broadway and 5-7 Dey Street, the New York Post reported. Simultaneously, the Metropolitan Transportation Authority issued a request ...

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Here’s why the head of the China Vanke empire is stepping down

Capping two years of shareholder infighting, the founder of China Vanke — China’s largest property developer and one of the most active Chinese firms in New York — has stepped down. Wang Shi, who founded China Vanke Group, announced the move on his personal social media account, the New York Times reported. Saying that it was time for a new ...

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Trump’s office buildings made less money than expected: report

Amid a changing office market, President Trump’s Manhattan office towers made less rental income last year than initially projected by lenders, according to a new report. The office tower at 40 Wall Street, where Trump owns the leasehold, made $17.4 million in 2016, according to CMBS data analyzed by Bloomberg. A 2015 appraisal valuing the property at $540 million predicted ...

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Sentinel sells 122-unit Kensington rental for $33M

Sentinel Real Estate Corporation sold a 122-unit rental building in Brooklyn’s Kensington neighborhood to DiMaggio Realty Management for $33 million, or $221 per square foot, sources told The Real Deal. The six-story, 149,450-square-foot elevator property at 70-94 Dahill Road, just south of the Green-Wood Cemetery, is entirely rent-stabilized. DiMaggio, led by Carlo DiMaggio, closed late last week on the purchase, ...

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