Edgewater board gives thumbs up for 3 towers on former Hess site

The Edgewater planning board last week gave its final approval for the redevelopment of 615 River Road, paving the way for significant additions to New Jersey’s Gold Coast. The unanimous decision clears the way for developers — New York-based Maxal Group and Denver-based Envirofinance Group — to build 1,200 apartments on 19 acres on the Hudson waterfront. The site was formerly owned by Hess Oil. “We want to thank the planning board for granting us

The post Edgewater board gives thumbs up for 3 towers on former Hess site appeared first on The Real Deal New York.

SL Green unloads 707 11th Ave less than two years after buying it

After almost two years of ownership, SL Green has sold 707 11th Avenue. The company sold the 160,000 square foot, loft-style building for $95 million to an undisclosed domestic buyer. The sale comes after the real estate investment trust purchased the West Side office building in January 2020 for $90 million. The company declined to identify a buyer, but a person familiar with the deal told Crain’s Georgetown Co. and Beacon Capital Partners had snagged

The post SL Green unloads 707 11th Ave less than two years after buying it appeared first on The Real Deal New York.

What a $660-psf gift shop lease says about Times Square’s recovery

Tourism may be down, but retailers are still making bets on Times Square. Most recently, a souvenir shop signed a lease for 1,000 square feet of ground-floor space at 566 7th Avenue. The store will be paying $55,000 a month for the space, next door to the newly opened Margaritaville Resort. On its face, a $660-per-square-foot lease for a new gift shop may not seem like a comeback story for the city’s most tourism-dependent retail

The post What a $660-psf gift shop lease says about Times Square’s recovery appeared first on The Real Deal New York.

Jeff Sutton buys Weehawken office for $219M

Jeff Sutton is switching things up. The retail real estate mogul has partnered with institutional Korean investment firm KTB Securities to buy a Weehawken, New Jersey, office complex for $219 million. Yes, office. Sutton and KTB bought 1000 Harbor Boulevard from Hartz Mountain Industries, financed by a $131.4 million loan from Korean lender KB Kookmin Bank. PincusCo first reported the sale, which closed about a week ago. The 617,187-square foot complex, also known as Lincoln

The post Jeff Sutton buys Weehawken office for $219M appeared first on The Real Deal New York.

Law would require Airbnbs to register with the city

It may be lights out for homes listed on Airbnb and other rental sites. A new law passed by the City Council will require more than 37,000 New York City homes advertised on Airbnb to be registered with the city. The legislation covers any short-term rental host and any platform that facilitates payments, including Booking.com, HomeAway, FlipKey and VRBO. In order to register, applicants must certify that they are the owner or tenant, designate an

The post Law would require Airbnbs to register with the city appeared first on The Real Deal New York.

Buyer in deal for oceanfront Wainscott home asking $37M

When there’s water, there’s a way. A Hamptons home asking $37 million, or $18.5 million for each body of water it faces, has gone into contract. The estate, at 38 Association Road in Wainscott, is two oceanfront acres with views of both the Atlantic Ocean and Georgica Pond. The home is 6,500 square feet and has five bedrooms, five bathrooms and one half bathroom. Three of the bedrooms are located on the first floor. Two

The post Buyer in deal for oceanfront Wainscott home asking $37M appeared first on The Real Deal New York.

Ben Soleimani leases 12,000 square feet on Madison Avenue

Luxury furniture and rug retailer Ben Soleimani has signed a lease for the brand’s first Manhattan showroom at 601 Madison Avenue. The two-year deal includes 4,226 square feet of ground-floor space, 4,270 square feet of second-floor space and 3,858 square feet on the lower level. The space was formerly occupied by Tourneau, a luxury watch retailer. Financial terms were not disclosed. “When [Soleimani] approached us to help him find space for his first Manhattan outpost,

The post Ben Soleimani leases 12,000 square feet on Madison Avenue appeared first on The Real Deal New York.

Brownstones rule Brooklyn’s luxury market Thanksgiving week

Brooklyn brownstone owners had something to be thankful for last week, as eight of the stately properties were among the priciest homes to go into contract in the borough. The biggest price tag of the bunch belonged to 527 3rd Street in Park Slope, which was asking $7.25 million when it lined up a buyer. The restored, turn-of-the-century brownstone spans 4,016 square feet with five bedrooms and four bathrooms. The home features a finished cellar,

The post Brownstones rule Brooklyn’s luxury market Thanksgiving week appeared first on The Real Deal New York.

Children’s Magical Garden claps back against developer who claimed defamation

In a legal and public relations battle with the Children’s Magical Garden, the president of a real estate firm might need some magic of his own. David Marom of real estate firm the Horizon Group is attempting to build a luxury home on the site of the Lower East Side garden. If the optics of that were not challenging enough, Marom filed a defamation suit against the garden’s defenders, only to have a judge throw

The post Children’s Magical Garden claps back against developer who claimed defamation appeared first on The Real Deal New York.

Estate famed for turtle soup has new distinction: $11M sale price

A historic waterfront property in Westchester has come a long way since New Yorkers gathered there to nosh on … turtles. The estate at 25 Park Avenue just changed hands for $11.3 million in Larchmont’s highest-grossing residential sale ever. In getting their asking price, the sellers broke the Larchmont record they had set by paying $10.4 million for the same home in 2006. “We went into contract within two weeks of the house being on

The post Estate famed for turtle soup has new distinction: $11M sale price appeared first on The Real Deal New York.