Rabsky, Spencer land $70M refi for Broadway Triangle site

Brooklyn developers Simon Dushinsky and Joel Gluck have secured another one-year loan for their massive Broadway Triangle development in Williamsburg. Bank Leumi USA, a New York-based subsidiary of Israel’s Leumi Group, provided $70.5 million in new financing for the development site, which spans two trapezoidal blocks in the triangle bound by Harrison, Union and Flushing Avenues, city property records recorded Thursday show. The new debt replaces a one-year, $65 million loan provided by Centennial Bank

source https://therealdeal.com/2020/01/02/rabsky-spencer-land-70m-refi-for-broadway-triangle-site/

New York appeals court reinstates title insurance regs (again)

The relentless back and forth on the legality of New York’s strict title insurance regulations continues. The state appeals court has reinstated rules that ban the title insurance industry from wining and dining its clients. And the court’s decision once again comes in response to a ruling from New York Supreme Court Judge Eileen Rakower, who had overturned the regulations in their entirety. If all this sounds familiar, that’s because it is. The state Department

source https://therealdeal.com/2020/01/02/new-york-appeals-court-reinstates-title-insurance-regs-again/

In nod to union, De Blasio will seek special permit for hotel development

In a victory for New York City Hotel Trades Council union, Mayor Bill de Blasio’s administration will seek to enact a special permit requirement for hotel construction. The citywide requirement would mandate hotel developers receive City Council approval for projects — giving the HTC the opportunity ensure new hotels are unionized, according to the New York Times. Developers say the requirement would hinder hotel development at a time when New York tourism is booming, but

source https://therealdeal.com/2020/01/02/in-nod-to-union-de-blasio-will-seek-special-permit-for-hotel-development/

WeWork’s Miguel McKelvey lists townhouse for $21M

WeWork co-founder Miguel McKelvey is looking to part ways with his Greenwich Village townhouse. McKelvey, the embattled flexible-office-space company’s chief culture officer, listed the 5,000-square-foot home for $21 million, the New York Post reported. Douglas Elliman’s Clinton Stowe and Melissa Bolotow have the listing, which is also being offered up as a $50,000-per-month rental. He bought the property at 18 West 11th Street for $12 million in 2015, city records show. The Weatherman — a

source https://therealdeal.com/2020/01/02/weworks-miguel-mckelvey-lists-townhouse-for-21m/

Investors partner on $170M Bronx affordable housing purchase

A trio of real estate companies have joined together to buy an affordable housing portfolio in the Bronx for $170 million, the firms announced on Thursday. Camber Property Group, Belveron Partners and LIHC Investment Group are buying eight buildings in the borough from Cammeby’s International Group. The Mitchell-Llama buildings contain 1,275 affordable housing units in total, along with 10 commercial units. They were built in the 1970s and renovated in 2014, and the units are

source https://therealdeal.com/2020/01/02/investors-partner-on-170m-bronx-affordable-housing-purchase/

Robert Durst admits to alerting authorities to location of body

Just ahead of Robert Durst’s long-anticipated murder trial, attorneys for the real estate scion confirmed that he wrote an anonymous note to police 20 years ago. A Christmas Eve filing made by Durst’s attorneys confirmed that he penned a letter in 2000, leading authorities to recover the body of his friend and crime writer Susan Berman, CNN reported. The new evidence emerges a month before Durst is expected to stand trial in her killing. “This

source https://therealdeal.com/2020/01/02/robert-durst-admits-to-alerting-authorities-to-location-of-body/

The 10 priciest Hamptons home sales of 2019

HED: Top Hamptons home sales of 2019 A $27 million spec home. A $26 million teardown. A palatial estate snagged for a $40 million discount. These were the top Hamptons home sales of 2019, a year in which buyers still held the upper hand after nearly two years of rising inventory. Much like last year, discounts and off-market deals were pervasive — but some lingering properties found buyers before the decade’s close. https://therealdeal.com/issues_articles/top-hamptons-home-sales-2018/ Overall, last

source https://therealdeal.com/2020/01/02/the-10-priciest-hamptons-home-sales-of-2019/