Category : Featured

Deals & DealmakersFeatured

Average prices in Manhattan reach 25-year high

REW Staff
by REW Staff787
Driven by luxury new developments, average apartment prices in Manhattan reached record levels in the first quarter of 2014. Reports published this week by leading residential brokerages all show skyrocketing prices and tight inventory, although they diverge on the exact figures.
As workers ratify strike measures, RAB offers words of advice
FeaturedProperty Managers

As workers ratify strike measures, RAB offers words of advice

REW Staff
by REW Staff805
Negotiations between the Realty Advisory Board on Labor Relations and 32BJ SEIU are currently underway in advance of the April 20 expiration of the 30,000 workers current contract. “We are confident we will win a strong contract because our membership is united, we are well organized and we are ready to strike,” said Hector J. Figueroa, president of 32BJ SEIU. “There has been a lot of progress and a general sense of goodwill on both sides in the current negotiation,” said Howard Rothschild, President of the Realty Advisory Board on Labor Relations, in a statement. “Still, it is important that everyone begins preparing for the possibility of a strike just in case things don’t go as expected.
Deals & DealmakersFeatured

SELLING POINTS: NGKF marketing historic Gramercy building; Luxury NoMad property hits sales market

REW Staff
by REW Staff1235
●cushman & wakefield Luxury NoMad building hits market Cushman & Wakefield is marketing a luxury residential building at 146 & 148 West 28th Street. The 28,072 s/f, 12-unit boutique recently underwent a capital improvement program that included the renovation of nine apartments, entrance and lobby improvements, addition of an illuminated...
HAP gets in on Jersey City redevelopment action
Construction & DesignDeals & DealmakersFeaturedResidential

HAP gets in on Jersey City redevelopment action

REW Staff
by REW Staff1350
The transformation of Jersey City's Journal Square took another step forward today (Wednesday) when HAP Investments LLC announced it is in contract to buy a nearly one-acre site at 500 Summit Avenue where it will build a high rise apartment building, offices and retail. “We are excited to have purchased this strategic site in Jersey City and look forward to building a future development that will provide new rental housing for local residents as well as others in the Metropolitan area, in addition to adding needed office and community facilities to this thriving urban location,” said Eran Polack, CEO, HAP Investments
Accusations of mob tactics muddy fight over money
Deals & DealmakersFeatured

Accusations of mob tactics muddy fight over money

Sarah Trefethen
by Sarah Trefethen1811
The controversy surrounding former employees of Tevfik Arif’s Bayrock Group is part spy novel, part courtroom procedural, part financial drama. The latest developments came last week, when a mob-informant-turned-author-turned-developer, Salvatore Lauria, filed a summons in New York State Supreme court against Jody Kriss, now a partner in East River Partners, a company that owns residential buildings in Manhattan and Brooklyn.
Red tape and runaway rent eating away at restaurant biz
FeaturedRetail

Red tape and runaway rent eating away at restaurant biz

Sarah Trefethen
by Sarah Trefethen1889
Fast casual, fine dining, home-style, Ethiopian, Japanese, take-out, all-you-can-eat, Michelin-starred, vegetarian, barbecue, disco-themed: restaurants vary more than the people who eat in them. Restaurant owners have a similarly wide range of attitudes towards their real estate dealings. This fact was on display at a panel event the Real Estate Board of New York hosted for members last week, titled “The Art of Making a Restaurant Deal in NYC.”
FeaturedRetail

Mexican eatery hungry for more space

REW Staff
by REW Staff1357
Popular Manhattan-based Mexican restaurant Choza Taqueria has signed a lease for its third location at 100 Park Avenue, between 40th and 41st Streets. Winick Realty Group broker Ross Burack represented Choza, which currently operates storefronts on Madison Avenue and 27th Street, as well as Macdougal Street and Bleecker Street. “Each...
Deals & DealmakersFeatured

Joe Cabrera takes his team to Colliers

REW Staff
by REW Staff2066
Colliers International announced that Joseph A. Cabrera and his team from Cushman & Wakefield has joined the commercial real estate services firm’s New York office as vice chairman of the Eastern Region. “The addition of Joe Cabrera and his team further illustrates Colliers’ strategy for growing and expanding in major gateway cities across the U.S.,” said Dylan Taylor, Colliers International’s Chief Executive Officer | Americas. “Colliers has had a longstanding local presence, and this step enhances our footprint in the New York market.”
Deals & DealmakersFeatured

Sotheby’s opens China franchise

REW Staff
by REW Staff907
Looking to gain an edge on its competitors and tap into a growing Chinese market, Sotheby’s International Realty recently won approval for its first franchise in mainland China. But getting it done was far from easy. Sotheby’s Realty CEO Philip White told Real Estate Weekly that it took the company six months to get government approval in China. In the process it had to enlist the help of a Shanghai law firm and translate 28 documents from Chinese into English. “But I can say, although it was time consuming, it was a fair process,” White said.