Bally’s eyes casino bid at Trump’s Bronx golf course
The Real Deal
by TRD Staff
1y ago
Bally’s is looking to enter New York’s casino sweepstakes with a pitch for a facility next to Donald Trump’s golf course. The gaming company is discussing the proposal of a casino on 17 acres of the Trump Organization’s golf course at Ferry Point in the Bronx, the New York Post reported. The potential proposal is the only one slated for the borough as several developers, in partnership with household entertainment names, have pitched projects for ..read more
Visit website
Palisades Center mall faces foreclosure over $419M loan
The Real Deal
by Pat Ralph | Research By Jay Young
1y ago
After struggling to rebound from the pandemic, the Palisades Center megamall in West Nyack could be headed for a sale to satisfy its owner’s debts. Wilmington Trust, acting as a trustee for CMBS bondholders, filed to foreclose on the 2.2 million-square-foot shopping and entertainment complex, claiming Syracuse-based owner Pyramid Management Group defaulted on a $418.5 million loan tied to the Rockland County property. JPMorgan Chase and Barclays provided Pyramid with the loan in 2016 and ..read more
Visit website
Kingston rent control can stay, but rent rollback is toast
The Real Deal
by Suzannah Cavanaugh
1y ago
Kingston twice made New York history last year, becoming the first upstate locality to pass rent control, and the first in the state to approve a rent rollback — until a lawsuit brought by landlords temporarily blocked both measures. On Friday, a judge delivered some good and bad news to landlords in the Hudson Valley city: The 15 percent rent reduction won’t stand, but rent stabilization is here to stay. The Hudson Valley Property Owners ..read more
Visit website
Park Avenue co-op led uptick in Manhattan luxury contracts
The Real Deal
by Harrison Connery
1y ago
Manhattan’s luxury market is getting busier, but not much pricier. The borough cracked 20 contracts last week for the second straight period, according to Olshan Realty’s weekly report of homes in the borough asking $4 million or more. But despite the rise in activity, the volume came in short in the second week in a row that only two properties asking $10 million or more went into contract. The most expensive home to enter contract ..read more
Visit website
From LA to D.C., tenant-protection laws are gaining steam
The Real Deal
by Suzannah Cavanaugh and Sydnee Bursik
1y ago
Tenant advocates are declaring victory in Los Angeles this month after lawmakers passed some of the city’s strongest permanent tenant protections in decades.  As LA’s pandemic-era eviction moratorium was winding down, the City Council expanded its ”just cause” eviction ordinance to cover all multifamily housing and determined that landlords must shoulder the cost of moving fees for tenants they evict.  Meanwhile in Washington, D.C., the White House rolled out its own recommendations for how to ..read more
Visit website
Taconic nabs $300M refi for Upper West Side life sciences hub
The Real Deal
by TRD Staff
1y ago
Two years after a $600 million recapitalization, Taconic Partners has closed another large financing deal at its planned life sciences hub on the Upper West Side. An entity tied to Apollo Global Management provided Taconic and its partner Nuveen Real Estate with a $300 million loan to refinance their eight-story redevelopment at 125 West End Avenue, PincusCo first reported.  The developers expect to complete the 400,000-square-foot project this year, YIMBY reported in November. Representatives for ..read more
Visit website
Trump’s 40 Wall Street on lender watchlist
The Real Deal
by TRD Staff
1y ago
The most valuable skyscraper in Donald Trump’s portfolio has been placed on a lender watchlist. The mortgage on the Trump Organization’s 40 Wall Street in the Financial District was placed on the watchlist amid concerns of rising expenses and vacancies, Bloomberg reported. The mortgage, which is being serviced by Wells Fargo, has a balance of $126.5 million. The vacancy rate at the 72-story tower neared 18 percent in the third quarter, according to a monthly ..read more
Visit website
Penthouse at towering 200 Amsterdam fetches $21M
The Real Deal
by Orion Jones
1y ago
Pre-war, but make it new. For $21 million, a full-floor penthouse at 200 Amsterdam Avenue has landed a buyer who also considered a pre-war co-op on Central Park West. Fetching the highest price yet at the Upper West Side condominium, the all-cash deal fits a pattern of discounts emerging at new luxury offerings, say industry observers, after sales slowed to a trickle following the pandemic. “The luxury market is strengthening,” said Stephen Kliegerman of Brown ..read more
Visit website
Why Yimby and tenant groups can’t work together
The Real Deal
by Erik Engquist
1y ago
Since persuading the state to overhaul New York’s rent law in 2019, critics of the real estate industry have not pushed any important legislation through in Albany. Then again, neither has real estate. The two sides have merely defeated each other’s initiatives, battling to a stalemate. Progressives stymied efforts to tweak the new rent law, blocked a measure allowing building owners to avoid fines by buying renewable energy credits, and ensured that 421a expired. Landlords ..read more
Visit website
Florida governor: Disney has ‘new sheriff in town’
The Real Deal
by TRD Staff
1y ago
The latest round of culture war has seen the House of Mouse lose some of the autonomy it’s enjoyed in Florida the past six decades, but the company still held on to several key privileges. In a special session last week, the legislature gave Gov. Ron DeSantis the power to appoint the members of the board that oversees the development of Walt Disney World theme parks, The New York Times reported. DeSantis had fought with ..read more
Visit website

Follow The Real Deal on FeedSpot

Continue with Google
Continue with Apple
OR