Manhattan’s luxury market saw 25 contracts signed last week

Manhattan’s luxury market saw 25 contracts signed last week for a total of about $237 million, the 10th straight week of 20 or more sales. The contracts signed at $4 million or above were split between 16 condominiums, six co-ops and three townhouses. Sales and dollar volume were both down from the week before, when the market had its best week of the year with 29 contracts signed for about $291 million. The top sale […]

source https://therealdeal.com/2019/07/01/manhattans-luxury-market-saw-25-contracts-signed-last-week/

Demand for apartments reaches 5-year high across US

Across the nation demand for apartments is now at a five-year high, a consequence of slow home sales and economic uncertainty. The number of move-ins during the second quarter shot up 11 percent compared to last year, according to the Wall Street Journal, citing data from RealPage. That surge caused the national occupancy rate to hit 95.8 percent, according to the report. In Chicago and Houston, demand grew particularly strongly, as move-ins outpaced new construction […]

source https://therealdeal.com/national/2019/07/01/demand-for-apartments-reaches-5-year-high-across-us/#new_tab

Opendoor, a $3.8B iBuyer start up, fires staffers, asks others to move to Phoenix HQ

The $3.8 billion iBuyer startup Opendoor is shaking things up internally. The company started firing about 50 of its roughly 1,300 employees in June, and it has asked between 200 and 300 employees throughout the country to move to its Phoenix location, according to Bloomberg. It is also scaling back on its free lunch policy, a common perk at startups. Opendoor plans to double its Phoenix employees to more than 500 next year and will […]

source https://therealdeal.com/national/2019/07/01/opendoor-a-3-8b-ibuyer-start-up-fires-staffers-asks-others-to-move-to-phoenix-hq/#new_tab

Scaffolding on 12-story Park Slope condo project collapses, injures 3

High winds tore down scaffolding at an under-construction condo building in Park Slope Sunday afternoon, injuring three people. The scaffolding crashed down from the Parlour Condominiums site and fell into an open-air patio space below, where it smashed through a glass astrium, according to CBS New York. One victim suffered serious head injuries and went to the hospital. Parts of the scaffolding were dismantled later on Sunday, and the Department of Buildings is investigating the […]

source https://therealdeal.com/2019/07/01/scaffolding-on-12-story-park-slope-condo-project-collapses-injures-3/

Wife of Robert Durst sells Manhattan co-op for $4.5M

Debrah Lee Charatan, wife of the notorious Robert Durst, has sold an Upper East Side co-op she owned with Steve Holm for slightly less than $4.5 million, according to property records. The co-op is a two-bedroom unit in 860 Fifth Avenue on the Upper East Side, where buyers are only permitted to finance 50 percent of the sale. Charatan and Holm, a real estate lawyer who has worked for Durst in the past, did not […]

source https://therealdeal.com/2019/07/01/wife-of-robert-durst-sells-manhattan-co-op-for-4-5m/

Watch: Chany Rosen’s expediting rollercoaster

Chany Rosen is always on the run. Perhaps that’s why at just 28 she’s already made a name for herself in New York City’s cutthroat property business. The expeditor gave up a teaching career to help landlords and other clients find their way through the city’s often byzantine Department of Buildings. Rosen’s 15-person team at Brooklyn-based Cavalry Associates, which she formed with her brother, Yoel Bochner, handle everything from code violations to zoning issues. As […]

source https://therealdeal.com/2019/06/25/watch-chany-rosens-real-estate-rollercoaster/#new_tab

My Big Fat Greek Condo Circus: How a shipping magnate’s family feud brought a luxury project to the verge of disaster

The owners of three $11 million condominium units on the Upper East Side are trying to write themselves out of a tabloid-style, modern-day Greek epic. Specifically, the buyers claim that the condo sponsors — shipping magnate Spiros Milonas and wife Antonia, 50-50 partners in Axia Realty LLC — have failed to hand control of the property at 40 East 72nd Street to a new board of managers, failed to pay common charges and property taxes […]

source https://therealdeal.com/2019/07/01/my-big-fat-greek-condo-circus-how-a-shipping-magnates-family-feud-brought-a-luxury-project-to-the-verge-of-disaster/