After fatality, analysis shows façade rules widely ignored across city

Nearly eight months ago, city officials fined the owner of 729 Seventh Avenue $1,250 for failing to maintain the building’s façade. The owner, Himmel + Meringoff Properties, paid the penalty but never documented that the damaged terra-cotta identified by city inspectors was repaired. Nor did it install a sidewalk shed to protect passersby. The killing of a pedestrian Tuesday by a chunk of façade from the Times Square building called attention to the building’s history.

source https://therealdeal.com/2019/12/18/after-fatality-analysis-shows-facade-rules-widely-ignored-across-city/#new_tab

Vornado sells another $55M condo at 220 Central Park South

There’s been another $55 million condominium sale at Vornado Realty Trust’s Billionaire’s Row tower, 220 Central Park South. The sale brings the total sellout of the project so far to about $1.84 billion, according to property records. The entity Dauton66 LLC bought unit #66 for $54.5 million, property records filed Tuesday show. The buyer, which records name Armelle Koelf as the company’s authorized signatory, also took out a $38 million mortgage for the transaction. Koelf

source https://therealdeal.com/2020/01/02/vornado-sells-another-55m-condo-at-220-central-park-south/

Why a $68M townhouse listing was abruptly pulled off the market

It could have been one of the priciest townhouses ever sold in New York. This October, British antiques dealer Carlton Hobbs, who was accused of selling fakes a decade ago, quietly listed his Upper East Side commercial townhouse for $68 million. The 57-foot wide limestone mansion at 60 East 93rd Street measures a whopping 23,000 square feet. The property, which last traded hands in 2002, was being shopped by Brown Harris Stevens’ John Burger, who

source https://therealdeal.com/2020/01/01/why-a-68m-townhouse-listing-was-abruptly-pulled-off-the-market-2/

“That’s the best you can do?” Eliot Spitzer and Eran Chen on their recent project

Architects and developers need each other, but their dynamic often puts them at odds. Developer and former New York Gov. Eliot Spitzer sat down with his architect Eran Chen to discuss finding common ground and chemistry as they worked on their recently completed rental complex along Williamsburg’s waterfront, 420 Kent Avenue. Chen’s firm, ODA, has designed a handful of new buildings along Brooklyn’s waterfront, including 10 Jay Street for Glacier Global Partners and Triangle Assets,

source https://therealdeal.com/2020/01/01/thats-the-best-you-can-do-eliot-spitzer-and-eran-chen-on-their-recent-project-3/

Five ways that Albany could punish real estate in 2020

Real estate interests got a butt-kicking in Albany this year — but state legislators might not be done. The new legislative session starts next month, and it’s an election year. With some incumbents likely to push pro-tenant bills to ward off liberal or socialist challengers, real estate industry insiders still reeling from June’s rent-law overhaul don’t expect the leftward lurch to stop anytime soon. “It’s scary,” an executive at a large New York City multifamily

source https://therealdeal.com/2020/01/01/five-ways-that-albany-could-punish-real-estate-in-2020-2/

Everyone’s rushing to be an iBuyer — except for Realtor.com

It was February 2019 when Zillow co-founder Rich Barton reclaimed the CEO role in dramatic fashion, betting the future of the $8 billion company on instant home-buying. In the months since, the Seattle-based listings giant has made good on its promise to go head-to-head with competitors ranging from Opendoor and Offerpad, to Keller Williams and Realogy. But Zillow’s chief rival Realtor.com has remained conspicuously absent from iBuying, raising eyebrows among analysts and industry observers. “I’m

source https://therealdeal.com/2020/01/01/everyones-rushing-to-be-an-ibuyer-except-for-realtor-com-2/

The five best things real estate could get from Albany

Although few Albany observers expect the political winds to shift in real estate’s favor next year, and its lobbyists will likely spend more time trying to defeat bills than pass them, there is still some optimism in the industry. Here are the goals it hopes to achieve in the legislative session that begins next month. Kill the eviction bill No legislative measure poses a greater threat to landlords’ business model than state Sen. Julia Salazar’s

source https://therealdeal.com/2019/12/06/the-five-best-things-real-estate-could-get-from-albany/#new_tab