Rent the Runway just signed a big lease in Dumbo

A women’s fashion company has signed an 83,000-square-foot lease at 10 Jay Street on Dumbo’s waterfront. Rent the Runway, a subscription-based service that allows women to rent clothing, will move into the 221,500-square-foot property next year, according to the New York Post. Built in 1897, developers Glacier Global Partners and Triangle Assets converted the warehouse into an ODA New York-designed office property targeting TAMI tenants. In 2017, the developers locked in a $150 million bridge […]

source https://therealdeal.com/2019/05/01/rent-the-runway-just-signed-a-big-lease-in-dumbo/

Durst wants to extend East River ferry service to UES

The Durst Organization is again lobbying to add another ferry stop to the city’s water transport service, this time linking the Upper East Side to the route. The developer is expected to propose the plan, which would connect Astoria to the 90th Street ferry terminal in Yorkville, to Manhattan community board Wednesday before making a formal pitch to the New York City Economic Development Corporation, which oversees the ferry service, according to The City. “It’s […]

source https://therealdeal.com/2019/05/01/durst-wants-to-extend-east-river-ferry-service-to-ues/

Madison Realty Capital moves HQ to 520 Madison Avenue

Madison Realty Capital has signed lease at Tishman Speyer’s 520 Madison Avenue and will move its headquarters into the building. The private lender will take 20,000 on the 34th floor of the 1 million-square-foot office building, it said Wednesday. In a statement, Madison’s managing principal Josh Zegen said that the move was part of an expansion strategy at the firm. “Our continuous growth required additional space to accommodate the needs of our business with room […]

source https://therealdeal.com/2019/05/01/madison-realty-capital-moves-hq-to-520-madison-avenue/

The Alexander brothers are taking over this Billionaires’ Row PH listing

About a year and a half after the penthouse at 252 East 57th Street hit the market, the developers are swapping its broker for “the A-team.” That is, Douglas Elliman’s Tal and Oren Alexander. The team is taking over the condominium listing from Stribling & Associates’ Pamela D’Arc. It will be listed for $27 million — down from the previous $29.75 million asking price. Tal Alexander declined to comment on the listing. The penthouse at […]

source https://therealdeal.com/2019/05/01/the-alexander-brothers-are-taking-over-this-billionaires-row-ph-listing/

Comerica Bank turned “blind eye” to Woodbridge’s $1B Ponzi scheme: lawsuit

The $1.2 billion Ponzi scheme that federal authorities charged luxury developer Woodbridge Group of Companies with running has spawned numerous lawsuits. In the latest, lawyers tasked with recovering funds for defrauded investors are going after Comerica Bank, which held accounts belonging to Sherman Oaks-based Woodbridge. The suit also comes two weeks after federal agents arrested Robert Shapiro, the former head of Woodbridge and the alleged mastermind behind the scheme. In November, Shapiro agreed to pay […]

source https://therealdeal.com/la/2019/04/30/comerica-bank-turned-blind-eye-to-woodbridges-1b-ponzi-scheme-lawsuit/#new_tab

Three’s a charm? Michael Shvo, partners add to oceanfront assemblage in Miami Beach

Michael Shvo and his partners are planning to buy their third property, the South Seas Hotel, as they expand their oceanfront assemblage in Miami Beach, The Real Deal has learned. The partnership of SHVO, led by Shvo; Bilgili Holdings, led by Serdar Bilgili; and Deutsche Finance America, put the South Seas at 1751 Collins Avenue in South Beach under contract, according to sources. The 118-key property is adjacent to the Richmond Hotel, which the group […]

source https://therealdeal.com/miami/2019/04/30/threes-a-charm-michael-shvo-partners-add-to-oceanfront-assemblage-in-miami-beach/#new_tab

Strings attached: How resi firms claw back commissions to fend off poaching

For the 200-person boutique firm CORE Real Estate, losing 35 agents to Compass last year was a body blow. As it hemorrhaged agents, CORE updated its agent policy manual — reflecting the new steps it would take to prevent agents from leaving and taking their listings with them. In addition to rolling back commission splits to 40 percent (an industry standard) on all pending deals for agents who announce that they’re leaving, the manual now […]

source https://therealdeal.com/2019/05/01/strings-attached-how-resi-firms-claw-back-commissions-to-fend-off-poaching/