• 1-800-123-789
  • info@webriti.com

Category ArchiveUncategorized

NYS Assembly weighs oversight of title industry

Members of the New York State Assembly are considering ways to regulate the title industry — but without the kind of strict rules imposed on insurers this month by the state. Assemblyman Kevin Cahill, chair of the Assembly’s standing committee on insurance, said the committee is weighing options for restricting title companies’ marketing expenses. But the approach would be more like “putting up guardrails,” rather than the blanket action taken by the Department of Financial […]


Source: realdeal

Google made Meatpacking an office destination. But the neighborhood can’t keep up with the giant’s rabid demand

Since Google first entered the Meatpacking District in 2005 with its lease at 111 Eighth Avenue and its latest deal to buy the Chelsea Market building next door for $2.4 billion, the neighborhood’s growing boutique office market has exploded. Developers looking to cash in on the “Google effect” have built and are working on a number of boutique office projects in the supply-constrained submarket, chasing asking rents that have climbed as high as $200 per […]


Source: realdeal

Manhattan’s skyscrapers are put through the most extreme tests you can imagine

When developers build supertall towers, they head to a small handful of specialized facilities that pummel building samples with disastrous conditions to make sure they can stand tall. There are only about three or four facilities in the country that can perform the tests, which simulate hurricane-force winds, rain, heat waves and arctic blasts, the Wall Street Journal reported. Hines, for example, tested sections for 53 West 53rd Street, the 1,050-foot-tall condominium tower the Houston-based […]


Source: realdeal

CBRE tops Eastdil for highest commercial deal total nationwide

CBRE’s commercial brokerage unit took the top spot with more commercial deals nationwide than any other brokerage in 2017, beating out perennial frontrunner Eastdil Secured. The number of larger deals declined last year, — those deals are Eastdil’s specialty — allowing CBRE to overtake its rival. In total, $244.2 billion of properties that were worth $25 million or more traded across the country last year, according to Real Estate Alert, which tabulated the rankings. That […]


Source: realdeal

Nursing home operator sells Queens facility for $25M

Nursing home operator SentosaCare has sold its four-story building in Little Neck to an assisted living company for $25.3 million, according to property records. The building, known as the Little Neck Care Center, is located at 260-19 Nassau Boulevard, with an alternate address of 260-19 Horace Harding Expressway. SentosaCare sold it to RM Holdings Little Neck, LLC, which is affiliated with the senior and special needs housing company Central Assisted Living. Representatives from Sentosa and […]


Source: realdeal

In new book, a Trump University “coach” describes a cabal of charlatans

When self-described real estate expert Stephen Gilpin first arrived in Manhattan, he was a Quaalude-popping blue jeans model. To make ends meet, he attended house parties of the wealthy, a handsome face for hire. It was dull work, and to distract himself Gilpin would contemplate the makings of the grand homes of his hosts. It was then, sometime in the 1990s, that Gilpin visited Trump Tower, where he was dazzled by “the sixty-foot high waterfall.” […]


Source: realdeal

Compass buys 100-agent firm in Westchester

Compass is pointing north with the acquisition of an 100-agent Westchester brokerage. The venture-backed startup — valued at $2.2 billion after Softank’s $450 million investment late last year— plans to buy Platinum Drive Realty. Terms of deal, announced today, were not disclosed. Launched in 2006 by Heather and Zach Harrison, the Scarsdale-based firm sold $238.7 million worth of real estate in 2017, according to the Hudson Gateway Multiple Listing System. For the past four years, […]


Source: realdeal

Blackstone Mortgage Trust grows portfolio to record $11B

Blackstone Mortgage Trust grew its loan portfolio by 16 percent to a record $11.1 billion amid strong lending in 2017. The mortgage real estate investment trust issued $1.2 billion in new loans in the fourth quarter and $4.8 billion over the entire year — up 37 percent from 2016. The growth comes amid an increase in competition among non-bank commercial real estate lenders, particularly in New York. A number of real estate investment firms have […]


Source: realdeal

Miami Worldcenter’s developer has 10 acres ready for Amazon. But will Bezos play ball?

Amid the cacophony of cranes and construction crews at the 27-acre Miami Worldcenter in Overtown sits a swath of land, untouched. These are the 10 acres set aside for the holy grail of tenants, Amazon, which last month announced that Miami would be among 20 cities on its shortlist for its second headquarters. The prospect of landing the $5 billion project sent every major developer in Miami – and their entourage of brokers, attorneys, project […]


Source: realdeal

The top 10 NYC office leases in January

January was a fairly slow month in terms of office leasing activity. The top 10 office lease deals totaled 1.2 million square feet, much lower than December’s top 10 leases, which totaled 1.8 million square feet. Check out the 10 biggest from January below: 1) Simon & Schuster, 1230 Sixth Avenue, Midtown – 300,150 square feet The CBS subsidiary inked a lease for 300,150 square feet of office space at 1230 Sixth Avenue at the […]


Source: realdeal