The Real Deal’s December issue is now available to all subscribers!

The Real Deal’s December issue is now live, and digital subscribers are getting the first look at what’s inside. Subscribers now have access to stories including: – Our cover interview with HUD Secretary Ben Carson, who defended his controversial housing record – The frenzy of NYC tech office leasing — beyond Facebook and Amazon – Playboy’s problem with notorious real estate investor Adam Hochfelder – Our annual ranking of NYC’s top retail brokerages, which saw

source https://therealdeal.com/2019/12/02/the-real-deals-december-issue-is-now-available-to-all-subscribers/

Trulia hit with lawsuit over Premier Agent

Trulia was slapped with a federal lawsuit assailing its Premier Agent advertising program as “unfair” and “deceptive,” and accusing it of diverting home buyers away from listing agents. According to the suit, which seeks class-action status, the Zillow Group subsidiary connects buyers with agents who “have no actual connection to the property being advertised, other than having paid defendant to be presented prominently next to the property.” The lawsuit, filed November 28 in Eastern District

source https://therealdeal.com/2019/12/02/trulia-hit-with-lawsuit-over-premier-agent/

He sold enough toothpaste to make our list of eye-popping NYC home buys

Vornado Realty Trust’s 220 Central Park South has seen a string of luxury condo closings of late. But here are some other top residential sales in the city. Source: A TRD analysis of property records filed with the New York City Department of Finance from Nov. 20 to Nov. 30. 1. Three limited liability companies, all linked to the Witkoff Organization, bought three sponsor units at the developer’s own project, 111 Murray Street in Tribeca.

source https://therealdeal.com/2019/12/02/he-sold-enough-toothpaste-to-make-our-list-of-eye-popping-nyc-home-buys/

Black Friday e-commerce grew while brick-and-mortar slipped, another socialist is running in Queens

Every weekday The Real Deal rounds up New York’s biggest real estate news. We update this page throughout the day starting at 9 a.m. Please send any tips or deals to tips@therealdeal.com. This page was last updated at 9:00 a.m. E-commerce spiked while traditional shopping slipped on Black Friday. Visits to stores dropped by a combined 3 percent on Thanksgiving and Black Friday this year compared to last year, while online sales rose by 14.5 percent

source https://therealdeal.com/2019/12/02/black-friday-e-commerce-grew-while-brick-and-mortar-slipped-another-socialist-is-running-in-queens/

Another socialist candidate targets NY’s housing market

The Democratic Socialists of America are crashing Long Island City again. Zohran Mamdani, a foreclosure-prevention counselor and DSA member, aims to unseat Assembly member Aravella Simotas next year. The district touches parts of Astoria, Long Island City and Western Queens, and overlaps with the area represented by Rep. Alexandria Ocasio-Cortez, another DSA product. The young activist said he is running to decommodify housing. “The market can’t be the only way we determine if someone can

source https://therealdeal.com/2019/12/02/another-socialist-candidate-targets-nys-housing-market/

Stuck in the middle

Melanie Mazzeo, a Douglas Elliman agent who sells mostly within the Harborfields Central School District in Huntington, said she recently closed on a four-bedroom ranch house on Suan Court for $779,000 — roughly 7 percent over the asking price. That came on the heels of five strong offers that drove up bids, she noted. Buyers across Nassau and Suffolk looking to upgrade from entry-level homes purchased just a few years ago are diving into much

source https://therealdeal.com/2019/12/02/stuck-in-the-middle/

RedSky and partner to sell several properties amid “uncertainty” over valuations

The investment firm backing most of Williamsburg’s prime retail real estate said it will look to sell several properties over the next two to three months. And the company has taken on a more active role managing the portfolio amid concerns that it could be difficult to cash out at projected values. JZ Capital Partners changed course on Wednesday and announced it would not take a significant write-down on the real estate portfolio it owns

source https://therealdeal.com/2019/12/02/redsky-and-partner-to-sell-several-properties-amid-uncertainty-over-valuations/