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4 days ago | 
therealdeal.com | Elizabeth Cryan
A former Modell’s once slated to become office towers as part of the troubled Pacific Park megadevelopment will open this fall as a youth basketball training facility. Alibaba co-founder and Brooklyn Nets owner Joe Tsai’s BSE Global will operate the 18,600-square-foot multi-court facility at 140 Flatbush Avenue, according to a press release. BSE is the holding company for the Brooklyn Nets, Barclays Center and the New York Liberty.
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5 days ago | 
therealdeal.com | Elizabeth Cryan
A long-vacant development site near the High Line once owned by Brandon Miller has found a buyer, almost a year after the developer’s tragic death. Toll Brothers is in contract to buy 118 10th Avenue in Chelsea from Benny Barmapov, a source familiar with the deal said. The contract price is $53 million. The Pennsylvania-based homebuilder could not immediately be reached for comment.
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1 week ago | 
therealdeal.com | Elizabeth Cryan
Gary Barnett came ready to negotiate. Dressed in his signature suit jacket over a black T-shirt, the Extell Development founder appeared before an Upper West Side community board last month to make his case for a colossal residential tower — about the size of the Empire State Building without the tip — at the site of the former ABC campus.
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2 weeks ago | 
therealdeal.com | Elizabeth Cryan
Joe Moinian lost his Midtown Hilton Garden Inn in a U.C.C. auction, after making a last-minute attempt to stop the sale. MCM, a Rhode Island-based hotel investment firm that doled out $25 million in mezzanine debt on the 401-key hotel, made a credit bid of $10 million, giving it a pathway to take over the property. A spokesperson for MCM declined to comment.
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2 weeks ago | 
therealdeal.com | Elizabeth Cryan
Joe Moinian is making a last-minute attempt to stop an auction of his Midtown Hilton Garden Inn. A Uniform Commercial Code auction was scheduled for Tuesday for the equity interest in 237 West 54th Street, the largest Hilton Garden Inn in North America, according to an emergency petition filed by Moinian to postpone the sale. Mezzanine lender Twin Summit LLC filed a U.C.C. foreclosure against Moinian and the entity that owns the 401-key hotel in April, according to court documents.
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3 weeks ago | 
therealdeal.com | Elizabeth Cryan
Fresh off a $6.6 billion fundraise last October, OpenAI inked a 90,000-square-foot office lease at Kushner’s Puck Building in Soho, its first New York City office. It wasn’t the only one. The fintech firm Chime secured an 84,000-square-foot space last month at Bromley Companies’ 122 Fifth Avenue in Flatiron, an expansion from its current location.
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3 weeks ago | 
therealdeal.com | Elizabeth Cryan
The Manhattan leasing market pumped the brakes last month. Tenants inked deals for 3.1 million square feet of office space, down about 7 percent since April, according to a new Colliers report. It was the lowest monthly total since December. But leasing volume was still up 5 percent year-over-year, thanks largely to NYU’s 1.1 million square foot lease at 770 Broadway, Manhattan’s largest new lease since 2019.
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3 weeks ago | 
therealdeal.com | Elizabeth Cryan
After more than a decade on the sidelines, Francis Greenburger is back in the market for New York City multifamily properties. The septuagenarian Time Equities chairman and chief executive — who once called the city’s 2019 changes to rent regulation “a complete disaster” — has made his first multifamily purchase since 2014. The developer snapped up a 38-unit building in Ditmas Park, Brooklyn, that is temporarily rent-stabilized under the city’s 421a tax abatement program.
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3 weeks ago | 
therealdeal.com | Elizabeth Cryan
For those who aren’t lucky enough to own a summer house in the Hamptons, Marc Rowan has them covered. For $2,900 a night some days during peak season, guests at his Duryea’s Sunset Cottages in Montauk can sip rosé in a private hot tub overlooking the sunset on Fort Bay Pond. They can eat lobster cobb salads from Rowan’s nearby Duryea’s Lobster Deck while dining on decks nestled into the bluffs, then collapse onto their choice of mattress — soft, medium or firm.
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1 month ago | 
therealdeal.com | Elizabeth Cryan
After more than a decade in development limbo, the historic Hotel Bossert has a new owner. SomeraRoad purchased the former hotel at 98 Montague Street in Brooklyn for $100 million, records show. The New York and Nashville-based developer plans to restore the building and open it as residences, according to a statement. The seller, Beach Point Capital, provided a $71 million mortgage to SomeraRoad, according to property records.
