Joseph Chetrit’s townhouse sale is one of the largest such deals of the year

Developer Joseph Chetrit sold one of his three Upper East Side townhouses, marking one of the priciest townhouse deals to close so far this year. The property at 110 East 76th Street sold for a price in the low-$40 million range, the Wall Street Journal reported. It was originally asking $51 million. The largest of the trio, the house is 36 feet wide and measures 15,000 square feet. The design features marble, onyx and brass […]… Read More Joseph Chetrit’s townhouse sale is one of the largest such deals of the year

Status update: HUD accuses Facebook of discriminatory housing ads

The U.S. Department of Housing and Urban Development is taking aim at Facebook, claiming the social networking website enables landlords and homeowners to discriminate against users. HUD filed a complaint against Facebook on Friday, alleging that the social platform’s housing ads violate the Fair Housing Act. A major selling point of Facebook’s ads has been its ability to target specific users. That feature, however, allows landlords and others to exclude specific users from seeing the […]… Read More Status update: HUD accuses Facebook of discriminatory housing ads

Moinian just landed a loan on its Park Avenue South building

Moinian Group has secured a $55.3 million loan for 450-460 Park Avenue South. North American Company for Life and Health Insurance provided the loan on Murray Hill property, according to city records. The deal included $8.4 million in new debt. Representatives for Moinian and North American did not immediately respond to requests for comment. WeWork signed a lease in July to take roughly 50,000 square feet across six floors of the 12-story building. Other tenants include […]… Read More Moinian just landed a loan on its Park Avenue South building

Meet Michael Cohen’s brother, Bryan. He’s an Elliman executive with a $7M connection to Ukraine

Investigations by special counsel Robert Mueller and federal prosecutors in New York have thrust Michael Cohen into the spotlight. But while President Trump’s former “fixer” gets grilled over his personal business dealings, his brother Bryan, who shares his strong ties to Ukraine, has largely avoided the media’s glare. Bryan Cohen, seven years younger and also an attorney by trade, is the chief administrative officer of Douglas Elliman Development Marketing, the new development subsidiary of one […]… Read More Meet Michael Cohen’s brother, Bryan. He’s an Elliman executive with a $7M connection to Ukraine

Ares Management makes $100M multifamily buy in Westchester

Ares Management bought a 400-unit garden apartment complex in Westchester County for more than $100 million. The Los Angeles-based alternative assets manager paid $101.3 million to purchase the 418-unit Ridgeview Apartments at 32 Nob Hill Drive in Elmsford, sources told The Real Deal. The seller is Scarsdale-based investor Frank Palazzolo. Representatives for Ares Management and Palazzolo were not immediately available to comment. Aliza Avital-Caplan of Emerald Equities NYC brokered the off-market deal, and declined to […]… Read More Ares Management makes $100M multifamily buy in Westchester

The death of the all-cash Chinese buyer

Late last year, Steven Ho saw alarm bells on social media: The Chinese government was gearing up for a major crackdown on foreign investment, and on messaging platforms such as WeChat and Line, Ho’s friends told him they were concerned that money would be tighter. In January, those worries became reality, as the government imposed exacting new capital controls that required Chinese citizens to disclose the purpose of their foreign investments. In the days that followed, numerous callers […]… Read More The death of the all-cash Chinese buyer

Mark your calendars: These are New York’s top real estate events next week

There will be one new real estate event in New York City next week. On Aug. 27, Relinkup.com is hosting its monthly Real Estate Investor Meet Up event from 6 p.m. to 8 p.m. at Cue Bar, 45-18 Bell Boulevard, Flushing, Queens. Attend for a networking opportunity in a casual setting. To search for future industry events or browse past ones, click here. And to submit more industry events, please reach out to events@therealdeal.com.… Read More Mark your calendars: These are New York’s top real estate events next week

Navillus reaches agreement with unions to toss $76M judgement

Navillus has reached an agreement with the unions to toss a $76 million judgement against the company, allowing the concrete contractor to exit Chapter 11 bankruptcy. In an order filed in Manhattan Federal Court on Friday, Judge Colleen McMahon signed off on an intention to vacate the the judgement, which plunged Navillus into bankruptcy back in November. The federal court doesn’t yet have jurisdiction to clear the judgement — the case, which is currently before […]… Read More Navillus reaches agreement with unions to toss $76M judgement

Chelsea Riff Hotel to be replaced by 16-story condo building

Eastern Star Development pre-filed permits to replace the Riff Hotel at 300 West 30th Street with a 16-story condo building. The Flushing-based firm plans to construct a 59,700-square-foot building with 80 apartments. The property will be divided between 54,700 square feet of residential space and 5,000 square feet of commercial space. Planned amenities include recreational spaces at the rooftop and the second floor and storage space at the cellar. If approved as proposed, the building […]… Read More Chelsea Riff Hotel to be replaced by 16-story condo building

Frozen credit files can slow mortgage process

Nearly a year after the catastrophic Equifax hack exposed 147 million Americans’ personal and financial data to cybercriminals, consumers are about to get a break — something especially useful for home buyers and owners. Starting Sept. 21, credit-file “security” freezes will no longer cost you money. For years, you had to pay fees that varied from state to state to enact freezes — which nail down your credit files, rendering them inaccessible not only to […]… Read More Frozen credit files can slow mortgage process