Sotheby’s expands in Greenwich by absorbing top local broker’s shop

David Ogilvy, perhaps best known for his role handling the record-setting $120 million sale of Connecticut’s Copper Beech Farms in 2014, announced Monday that his namesake brokerage had disbanded and joined Sotheby’s International Realty. The move by Ogilvy, who started Greenwich-based David Ogilvy & Associates Realtors in 1985, comes nearly a decade after Sotheby’s expanded into the affluent New York City suburb by absorbing century-old residential brokerage Cleveland, Duble & Arnold in December 2011. Ogilvy is […]

source https://therealdeal.com/tristate/2019/07/01/sothebys-expands-in-greenwich-by-absorbing-top-local-brokers-shop/#new_tab

A man stayed at the New Yorker Hotel for one night. Now, because of rent-stabilization, he says he owns it

Obscure rules surrounding rent-stabilized hotels have occasionally allowed savvy tenants to secure cheap rent for life. But one tenant now claims he had the legal right to take over an entire hotel — and for the moment, city property records agree. In late May, a certain Mickey Barreto filed deed documents with the Department of Finance transferring ownership of the New Yorker Hotel to his nonprofit, Mickey Barreto Missions, and began presenting himself to lenders, […]

source https://therealdeal.com/2019/07/01/a-man-stayed-at-the-new-yorker-hotel-for-one-night-now-because-of-rent-stabilization-he-says-he-owns-it/

After $6M price cut, Oleg Cassini’s Oyster Bay estate in contract

In the same month that foreclosure proceedings began on Oleg Cassini’s Upper East Side townhouse, the former Long Island home of the late fashion designer has gone to contract after its price was cut down to $13.5 million. The 43.5-acre estate owned by Cassini at 313 McCouns Lane in Oyster Bay hit the market a year ago asking $19.5 million. Cassini, who died in 2006 at 92, was the grandson of a Russian-Italian count and rose to […]

source https://therealdeal.com/tristate/2019/07/01/after-6m-price-cut-oleg-cassinis-oyster-bay-estate-in-contract/#new_tab

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

Islanders’ Belmont arena build still set to start this summer Jon Ledecky, co-owner of the National Hockey Leagues’ New York Islanders, hopes to begin construction of the team’s new arena at Belmont Park this summer even as a long-awaited environmental review for the mixed-use project will most likely be delayed, Newsday reported. Officials from Empire State Development, the state agency coordinating an environmental review for the controversial $1.2 billion redevelopment, had hoped to conclude that process […]

source https://therealdeal.com/tristate/2019/07/01/build-for-islanders-belmont-arena-to-begin-this-summer-late-composers-sands-point-estate-has-price-cut-again-more-long-island-real-estate-news/#new_tab

NYC’s top rent-stabilized apartment owners

With Albany rendering rent-regulated apartments radioactive in New York, The Real Deal ranked the players who own the most of those suddenly less-desirable units. Check out the list below and read the full story on the pummeling the industry took in the state’s capital here. Blackstone Group Total rent-stabilized units: 11,807 Biggest rent-stabilized property: Stuyvesant Town in Manhattan with 8,659 regulated units LeFrak Total rent-stabilized units: 9,891 Biggest rent-stabilized property: LeFrak City in Corona, Queens […]

source https://therealdeal.com/2019/07/01/nycs-top-rent-stabilized-apartment-owners/

Editor’s note: Welcome to the Rent-pocalypse

Landlords are now going to be so poor, they won’t be able to afford the rent, just like their tenants. Well, not really. But the real estate industry did get slammed last month by monumental rent regulation reforms in Albany, with state legislators passing an incredible series of changes, curbing how landlords in the city can increase rents on stabilized apartments. The votes marked the first time in decades that major reforms have been enacted, […]

source https://therealdeal.com/issues_articles/editors-note-welcome-to-the-rent-pocalypse/#new_tab

Lalezarian to build 35-story tower in Murray Hill

There’s another tall mixed-use tower headed to Murray Hill, and it will stand across the street from a separate 31-story development. Lalezarian Properties plans to bring the 35-story, 386-foot-tall project to 509 Third Avenue, according to an application filed last week with the city’s Department of Buildings and first covered by New York YIMBY. Kevin Lalezarian, head of the Long Island-based development firm, did not respond to a request for comment. The site is zoned […]

source https://therealdeal.com/2019/07/01/lalezarian-to-build-35-story-tower-in-murray-hill/