Kaufman Org’s Jeff Rosenblatt joins office listings startup SquareFoot

A veteran commercial broker says he’s joining “the 21st Century.” Jeff Rosenblatt, most recently at the Kaufman Organization, is joining office brokerage startup SquareFoot to help expand its traditional leasing business, Crain’s reported. The proptech firm aims to make office leasing more transparent by combining traditional brokerage work with an online platform. Rosenblatt joined the Kaufman Organization last fall amid a leadership shakeup at the former Coldwell Banker Commercial Advisors. Before that, he was at […]

source https://therealdeal.com/2019/07/02/kaufman-orgs-jeff-rosenblatt-joins-office-listings-startup-squarefoot/

UES condo board moves to foreclose on Midtown Equities’ Steven Cayre

A battle between the board of an Upper East Side condo building and its sponsor is flaring up yet again — this time because the board is moving to foreclose on Midtown Equities’ Steven Cayre. The condo board of the Blanca Lofts at 206 East 73rd Street filed a lawsuit against Cayre, whose family founded Midtown Equities (the building’s co-developer), alleging that he owes the board $147,000, plus 24 percent in interest, in legal fees. […]

source https://therealdeal.com/2019/07/02/ues-condo-board-moves-to-foreclose-on-midtown-equities-steven-cayre/

These were NYC’s top office leases in June

The usual suspects made up last month’s biggest office leasing deals, including tech companies, financial firms and startups. Two buildings made multiple appearances on the list: One Soho Square and 1 World Trade Center. All in all, June’s top office leases made up less square footage than the month prior. The top 10 office lease deals totaled 1.2 million square feet, significantly fewer than May’s, which totaled 1.7 million square feet. June didn’t measure up […]

source https://therealdeal.com/2019/07/02/these-were-nycs-top-office-leases-in-june/

Real estate’s rent law reckoning: Who’s getting hit hardest, and who’s escaping New York?

Before climbing into bed on June 11, Robert Nelson found himself bracing for a “horror show.” The leaders of the state Senate and Assembly had just announced that they’d reached an agreement to radically tilt rent regulations in favor of tenants, curbing how landlords in the city could increase rents on roughly 1 million stabilized apartments. “My heart dropped. I was in disbelief,” Nelson said. “That was a really poor night’s sleep. I don’t think […]

source https://therealdeal.com/issues_articles/game-over/#new_tab

Manhattan condo sales increase in June as buyers rush to avoid mansion tax

In June, as the deadline for the mansion tax neared, buyers rushed to close condo and co-op sales across Manhattan, triggering a sharp uptick following months of decline. Figures from the latest Douglas Elliman market reports show that year-over-year sales increased in June for the first time in six quarters, and the median sale price increased by a record 10.5 percent to $1.22 million. The spike was driven in part by the expanded mansion tax […]

source https://therealdeal.com/2019/07/02/manhattan-condo-sales-increase-in-june-as-buyers-rush-to-avoid-mansion-tax/

DivcoWest expands Big Apple footprint with Madison Ave office buy

California-based DivcoWest Real Estate Investments has expanded its footprint in New York with its second acquisition in the Big Apple. Divco bought Boston Properties’ 1970s-era office building at 540 Madison Avenue for $310 million, sources told The Real Deal. The purchase price works out to more than $1,050 per square foot for the 39-story, 291,000-square-foot tower at the corner of East 55th Street. A spokesperson for Divco, which focuses most heavily on tech-heavy markets like […]

source https://therealdeal.com/2019/07/01/divcowest-expands-big-apple-footprint-with-madison-ave-office-buy/

The Real Deal wins 9 NAREE journalism awards

The Real Deal editorial team brought home nine journalism awards from the National Association of Real Estate Editors for its in-depth coverage of the industry in 2018. “With eye-catching artwork, design and photography, The Real Deal delivers sophisticated coverage, stylishly written, of the people and deals that drive New York City real estate,” judges wrote of the publication’s June 2018 New York issue, which won a gold award for best commercial real estate trade magazine. […]

source https://therealdeal.com/national/2019/07/01/the-real-deal-wins-9-naree-journalism-awards/#new_tab