Artimus buys half of large Manhattanville multifamily project

Artimus Construction has spurred a large, ground-up residential project in Manhattanville that involved the New York City Housing Authority selling land to private developer Grid Group.  Excavation at 1440 Amsterdam Avenue is underway after Artimus bought a 50 percent stake in the project on Aug. 31 for $17 million, records show. Grid’s plans for a […]

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Excel plans 21-story Hell’s Kitchen apartment complex

Out with the old — the very old — and in with the new: Excel Development Group filed plans Wednesday to replace a 113-year-old church building in Hell’s Kitchen with a 21-story apartment project. The development would have 71 units across 104,000 square feet at 539 West 54th Street, between 10th and 11th avenues. A […]

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Lightstone ends air-rights feud with Moxy Chelsea hotel’s neighbors

A long-running drama surrounding Lightstone’s Moxy Chelsea hotel came to a quiet conclusion this week. Developer Lightstone Group settled with David Sinclair and Lisa Chapman, two unit owners in the condominium next door to the hotel who it had accused of selling air rights for the $155 million project then delaying construction for years with […]

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Here’s how 2019’s hottest projects fared

Developers had big plans at the end of 2019. From supertalls that would push Manhattan’s skyline even higher to waterfront developments bridging the Big Apple with the beach, the hottest proposals of the pre-pandemic period promised to break records and precedent. The three years that have followed ushered in a lifetime’s worth of change, and mixed results for the renderings we crowned the hottest of the time. Here’s the latest on where those projects stand:

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The bargain hunters: Buyers target cheaper new development units

UPDATED Dec. 8 1:55 PM: After months of whiplash in residential markets, November brought some welcome stability to new development sales in New York. Developers reported 186 contract signings last month, an 11 percent increase from an abysmal October, according to a new report from Marketproof. That’s still down 21 percent from November 2019, but roughly on par with other months since the Federal Reserve began raising interest rates. The contracts were for apartments asking

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REBNY bats down batching with warning to brokers

“Batching” may exist in a gray area for the brokerage world, but it’s black and white to the Real Estate Board of New York. The group flatly rejected a question to its Legal Line newsletter about whether waiting until the end of the month to report closed listings in bulk to the RLS was an “acceptable practice.” In addition to informing members that closing information must be updated into the RLS within 24 of closing,

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Albanese closes on land for big Jersey City development

The Albanese Organization wrapped up a $70 million site purchase for a major, mixed-use project in Jersey City as rents surge in the area. The Long Island–based developer expects to break ground next year on 670 apartments and nearly 17,000 square feet of retail at 286 Coles Street, JerseyDigs reported. Albanese’s 1.8-acre downtown site was split off from Hoboken Brownstone Company’s 305 Coles Street development, which has been in the works for at least two

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Some Skyline Tower condo owners say they were deceived

Life in Queens’ tallest condominium has not been what some of its unit owners expected. Ninety buyers, representing fewer than 1 in 5 unit owners, filed a complaint this summer against Chris Jiashu Xu’s Skyline Tower in Long Island City with the attorney general’s office. In a July 13 complaint obtained by The Real Deal, the owners cite issues with the 802-unit building’s marketing, management and construction, and raise questions about its sales and financial

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Skyline’s $1B slog: The quest to sell out Queens’ tallest building

Apartments in Skyline Tower offer commanding views of Long Island City and the Manhattan skyline, attractive amenities and the prestige of being in Queens’ tallest building. But 40 percent of them are missing something important: buyers. Four years after sales began at Chris Jiashu Xu’s ambitious condominium, only 509 of its 802 units had been sold as of Aug. 18, according to data compiled by Patrick Smith, an independent real estate consultant and Long Island

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Douglas Elliman team bumps Compass from Midtown condo sales

The Kirsten Jordan Team at Douglas Elliman is taking over sales from Compass at a luxury Hell’s Kitchen condo project. Bloom, located at 500 West 45th Street, was developed by Xin Development and designed by Marvel Architects. The property was completed in 2020 on a plot previously occupied by a gas station. Since launching sales with Compass upon completion, 25 percent of the building’s 92 units have sold. Agent Kirsten Jordan said the majority of

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