Naftali is big winner in Upper East Side condo comeback

Just over a year ago, Miki Naftali spent about an hour standing on the sidewalk outside his upcoming project at the corner of Madison Avenue and East 80th Street. He was watching for people to notice the giant billboard he’d hung from the building’s facade, featuring an op-ed by Jerry Seinfeld on why New York wasn’t dead.  “Hopefully, it will create a little bit [of a] good vibe,” he said at the time. “Not everything

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Fetner to finally break ground on 23-story UWS apartment building

At long last, Fetner Properties is ready to begin construction on its 23-story apartment building on the Upper West Side. On Thursday, the developer and its partners, PGIM and Peakhill Capital Investors, closed on the three-lot assemblage at 270 West 96th Street and sewed up an $80 million construction loan from Wells Fargo, CEO Hal Fetner said. “[We] have been assembling this site for almost four and a half, five years,” he said. “It has

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Chrome Hearts co-founder picks up West Village home for $14.5M

The co-founder of fashion label Chrome Hearts has picked up a shiny new object. Luxury designer Richard Stark and his wife Laurie Lynn Stark, who also helms the high-end apparel and accessory brand, purchased a West Village home at 32 Perry Street for $14.5 million, property records show. The roughly 4,450-square-foot property was renovated from a multi-family building into a two-unit home with a separate entrance for a garden level suite. The main home on

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432 Park is doing just fine, thanks

The skyscraper at 432 Park Avenue opened in 2015 to a mixture of fanfare and criticism over its slender design and its significance as a looming status symbol for the ultra-wealthy. Six years later, the supertall condo tower is perhaps best known now for its 1,500 alleged construction defects, surging common charges and, most recently, a $250 million lawsuit brought by its condo board against developers Harry Macklowe and CIM Group in September. But these

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Game of Thrones creator sells Tribeca co-op

Winter is coming and screenwriter David Benioff and actress Amanda Peet are cashing in on the demand for luxury homes in Manhattan. Benioff, who created the HBO hit show “Game of Thrones” with D.B. Weiss, has sold the Tribeca loft he shared with Peet for $4.65 million, property records show. The off-market deal closed a week before Thanksgiving. The unit is on the top floor of the six-story prewar co-operative on Duane Street, which sits

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Fight over Extell’s UWS tower could crush century-old City Club

After five years of legal skirmishes, Gary Barnett won the right to build the tallest tower on the Upper West Side. But the developer has one final battle, and he’s not fighting only for himself. Barnett’s firm, Extell Development, is still pursuing a lawsuit in which it accuses a storied nonprofit of reneging on an agreement that would have spared the developer years of headaches, legal fees and carrying costs. The nonprofit, the City Club

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UES penthouse asking $35M leads Manhattan luxury contracts

The Manhattan luxury market’s strong run continued last week. Buyers signed 33 contracts for homes asking $4 million or more in the borough last week, according to Olshan Realty’s weekly contract report. It was the 37th week this year in which 30 or more purchase agreements were signed for luxury Manhattan homes. “It’s extraordinary,” said Donna Olshan, the author of the report. “We’ve blown all the other years away in every respect.” The top asking

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Links between The Agency, Triplemint hint at deal

The countdown is on until The Agency officially launches in New York City. It hasn’t planted roots in the Big Apple yet, but the Los Angeles-based firm’s apparent closeness to local brokerage Triplemint has sparked speculation of a formal alliance. The connection began in February, when The Agency’s president Rainy Hake Austin appeared on a panel alongside Triplemint CEO David Walker. The firms kept in touch and when The Agency’s CEO and founder Mauricio Umansky

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Why Blackstone bet $6B on Home Partners of America

When Blackstone Group makes a play in a new sector, people pay attention.  From warehouses to life sciences to troubled casinos, the company’s deals generate headlines and typically herald major trends. But when the news broke that the investment giant was jumping back into single-family rentals with a $6 billion bet on Home Partners of America, it wasn’t quite clear what made Home Partners’ 17,000 homes worth so much. When the deal was announced in

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$22M pad at 111 West 57th tops Manhattan luxury market

Early December brought frosty temperatures to New York and cooled down Manhattan’s luxury contract signings. Deals dropped to 34 contracts signed for homes asking $4 million or more in the borough between November 29 and December 5 — the lowest in nine weeks — according to Olshan Realty’s weekly report. The total sales volume was just under $265 million with buyers agreeing to purchase 24 condo units (13 sold by developers), eight co-op units and

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