Altmark partnership plans 135-unit South Bronx high-rise

Add another project to the residential development boom taking place in the South Bronx, this one a high-rise. Developer Moshe Altmark, partner at The Altmark Group, is planning to build a 23-story, 135-unit project in Port Morris, according to plans filed with the Department of Buildings on Friday. The building will span about 95,000 square feet at 2455 3rd Avenue, and will stand 210 feet. Altmark appears to be partnering on the project with Artimus

source https://therealdeal.com/2019/12/30/altmark-partnership-plans-135-unit-south-bronx-high-rise/

Luxury market ending 2019 on upswing after volatile year

New York’s luxury market is ending 2019 on the upswing following a volatile year, though it remains a buyer’s market. There were 11 contracts signed for properties above $4 million last week, according to the latest Olshan Realty luxury report. While that figure could be seen as fairly typical, given the time of year, Donna Olshan called it an “encouraging continuation of the recent uptick in the luxury market,” according to the report. During the

source https://therealdeal.com/2019/12/30/luxury-market-ending-2019-on-upswing-after-volatile-year/

DOB ramps up façade enforcement following architect’s death

After a woman was killed earlier this month by debris that fell from a Midtown building, the city is ramping up its enforcement around unsafe building façades. The Department of Buildings announced Monday that at buildings where the façades’ condition is deemed “immediately hazardous,” the agency will conduct follow-up inspections within 60 days to ensure that proper protection — such as a sidewalk shed or netting — has been installed. If not, city contractors will

source https://therealdeal.com/2019/12/30/dob-ramps-up-facade-enforcement-following-architects-death/

Brokers in cabs: Why nothing can offend MDLNY’s Ronita Kalra

In the sixth episode of  The Real Deal’s “Brokers In Cabs” series, Douglas Elliman broker and ‘Million Dollar Listing New York’ star Ronita Kalra reveals how she got into the business, her philosophy on the most important piece of making deals (it’s all about the relationships, people!) and why motherhood has made her totally unflappable. “I mean, you can’t offend me if you tried,” she said.  Watch the full video above to see Kalra share

source https://therealdeal.com/2019/12/30/brokers-in-cabs-why-absolutely-nothing-can-offend-mdlnys-ronita-kalra/

Greenpoint condo was priciest contract signed in Brooklyn last week

At just under $4 million, a Greenpoint condo was the priciest residential deal to go into contract in Brooklyn last week. The 2,531-square-foot unit at 155 Noble Street has three bedrooms and spans a full floor of the building. It spent 57 days on the market and went under contract at its asking price. Overall, the Brooklyn luxury market saw nine contracts signed last week, split between seven houses and two condos, according to the

source https://therealdeal.com/2019/12/30/greenpoint-condo-was-priciest-contract-signed-in-brooklyn-last-week/

Extell accuses City Club of reneging on settlement over UWS tower

The City Club of New York is continuing its battle against Extell Development’s latest tower, despite a settlement, the developer claims in a new lawsuit. The community group — which almost killed Barry Diller’s Pier 55 project — had agreed to drop its case over 50 West 66th Street for a $300,000 settlement, the Commercial Observer reported, citing court documents. The suit argues that Extell had reached an oral agreement with City Club that only

source https://therealdeal.com/2019/12/30/extell-accuses-city-club-of-reneging-on-settlement-over-uws-tower/

WeWork co-CEOs will land $17M if they leave

It may not be $1.7 billion, but it’s still a pretty penny. WeWork’s co-CEOs Artie Minson and Sebastian Cunningham will get about $17 million in exit packages if they are fired or leave WeWork, according to the Financial Times. They would each receive $8.3 million. Jennifer Berrent, the company’s chief legal officer, would get $1.5 million if she is fired or leaves, and she would not have to pay back $12 million in retention bonuses.

source https://therealdeal.com/2019/12/30/wework-co-ceos-will-land-17m-if-they-leave/