Heritage planning $100M Williamsburg development
By Holly Dutton Real estate investment firm, Heritage Equity Partners, is planning a $100 million redeveloped of a full Williamsburg block. Heritage purchased the site … Continued
Category : Featured
One-time hippie keeps his cool at dealmaking table
Like most seasoned commercial real estate attorneys in New York City, Dennis Russo has papered mountains of deals on behalf of clients. What distinguishes Russo from the pack is his business acumen, sharpened by the many real estate projects he has personally developed, owned and managed. As with most things he is passionate about, Russo has taken a hands-on approach to real estate over the years, even gutting and renovating buildings himself.
Child of war has learned to make life better
A childhood spent in the shadow of war prepared Bond New York agent Moran Khousravi for the mean streets of Manhattan. But it is her passion for life that has helped her succeed here. “The scary part of my life was growing up,ˮ said Khousravi, who originally moved to New York from Holon, Israel, to pursue a career as a dancer. “Israel was a scary country to grow up in, especially during my childhood, having to wake up in the middle of night to go to shelters. Things like that prepare you for life.”
New York broker gets MBE from the Queen
Newmark Grubb Knight Frank partner Richard Sexton has been awarded a MBE by the Queen of England. RICHARD SEXTON Following in the footsteps of his grandfather and great-grandfather, New York based Sexton will receive the distinguished Member of the British Empire (MBE) award at a ceremony in Buckingham Palace in London for his charitable work with the UK and British Commonwealth community in New York. “It’s quite overwhelming,” said Sexton. “It’s a huge honor for us Brits to receive an honor like this from the queen. It’s a mixture of being overwhelmed, excited and extremely proud.”
Capital co’s Carnegie deal
Matt Leon By Sarah Trefethen Canyon Capital Partners has consolidated and expanded its space in Carnegie Hall Tower as part of a seven-year lease renewal, … Continued
Most year-end market reports loosely align, showing growth and contraction
As is tradition during the month of January, a slew of real estate organizations released their year-end reports and New Year forecasts. Most reported growth in 2012 of Manhattan apartment prices, with the borough experiencing the greatest appreciation gains in the country. This, as sales inventory continued to fall on the island. Rents on average grew overall between 4 to 5 percent during 2012 in New York proper, this according to the annual market study of real estate value trends unveiled by Integra Realty Resources, Inc. Residential brokerages, which issue their own internal data reports, reported significant rental increases also despite a softening in 4th quarter prices. Over the past year Douglass Elliman reported a 10% increase in Manhattan rent with Citi Habitats reporting a 5% rise for 2012.
Sports star broker has big goals
In the latest addition to the growing ranks of real estate reality television, HGTV’s Scoring the Deal, viewers get a taste of broker Jason Abrams’ fast-paced approach to finding homes for professional athletes. Abrams and business partner Kristen Cook travel around the country on behalf of their clients. In the first episode, Abrams and Cook helped football star Clinton Portis chose a Miami condo. Other athletes featured this season include NFL pros Adewale Ogunleye, Vontae and Vernon Davis and NBA stars Greivis Vasquez and Jordan Farmar.
Witkoff offers brokers a free Porsche
The Witkoff Group has a new Porsche for the residential broker who does most to sell out 515 East 72. At a broker event over the holidays, Norma-Jean Callahan, sales manager and member of Corcoran Sunshine Marketing Group, announced that the building is now 70 percent sold. Witkoff - who took over the project with partner Wetsbrook in 2011 - also announced new broker incentives that include a 36-month lease and insurance payments for a new Porsche for brokers who sell $10 million in the 515 East 72 tower between now and March 31, 2013.
Property Group to build new tower
Property Group Partners has entered into a joint venture with Romanoff Equities to develop 860 Washington Street in the Meatpacking District. The new 120,000 s/f mixed-use office and retail development will rise on a site adjacent to the elevated High Line Park and between the architecturally prominent Standard Hotel and High Line Building. Development will start immediately and the buildign is expected to be delivered by 2015, according to Property Group Partners, an owner and developer formerly known as Louis Dreyfus Property Group.
Priciest homes in NYC last year
In a year of ever-climbing prices for Manhattan residential space, some buildings stood out from the pack in their ability to command eye-popping sales prices. Here, we present New York City’s 10 most expensive residential buildings of 2012, based on data compiled by StreetEasy.com. Central Park is still the place to be if you’re looking to sell a home for an eye-popping price, but the Hudson River is poised to give that tradition a run for its money in 2013, with the up-and-coming West Side sneaking in at tenth place.