SL Green bought out its partner at 800 Third Avenue in a deal that values the 41-story office tower at $190 million. The Marc Holliday-led REIT bought the 39.5 percent stake in the 1970s-era office building from Larry Wohl’s Joseph P. Day, the company announced Friday. SL Green now owns 100 percent of the 750,000-square-foot property. Along with the buyout, the company modified and extended the tower’s $177 million mortgage. Chief Investment Officer Harry Sitomer said the transactions exemplify SL Green’s long-term outlook on what the real estate firm considers to be well-located Midtown Manhattan assets. “We continue to see […]

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After one hit collection, the designer Dario Vitale will be leaving the brand. What’s going on?

The prospect of Paramount buying Warner Bros. Discovery had led CNN journalists to wonder if the channel might be combined with CBS News. Instead, CNN will remain in a separate corporate entity.

Beyond Jeffrey Epstein’s interests in connecting with princes, former presidents and financial heavyweights, the late, disgraced financier sometimes extended his attention to commercial real estate. Among the more than 20,000 documents obtained by the House Committee on Oversight and Government Reform from Epstein’s estate and released to the public in November were emails with links to The Real Deal articles and what appears to be a saved or printed TRD web story from June 2019. The emails and TRD articles touched on a Palm Beach development deal, a members-only club and a dealmaker who faced tax issues. The documents shed […]

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The most recent Personal Consumption Expenditures index was delayed because of the government shutdown.

When Vickey Barron’s client, a 27-year-old working in finance, heard what his bonus was going to be last year, he went on a “shopping spree.” “I would imagine it feels like, ‘Oh, I just won the lottery,’” said Barron, a veteran Compass agent. “[They were] fixated on buying. It wasn’t a question, it was: ‘let’s find the right property.’” They ended up with a Chelsea condo for just under $5 million.  Barron’s client is one of many finance workers in the city with a winning lottery ticket in the form of a big year-end bonus. The city’s biggest firms have […]

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One year later, sweeping changes to New York City’s zoning rules are shaping the trajectory of housing projects. Developers are moving forward with plans for larger residential buildings. Air rights deals are heating up. Homeowners are moving forward with adding so-called granny flats.   Friday is the one-year anniversary of the City Council’s passage of the City of Yes for Housing Opportunity, a text amendment that eliminated parking mandates from some parts of the city, legalized accessory dwelling units, created new high-density residential districts, expanded what office buildings can be converted to residential and much more.  In recognition of the one-year […]

This article originally appeared on The Real Deal. Click here to read the full story.

The most recent Personal Consumption Expenditures index was delayed because of the government shutdown.

What keeps New York’s top commercial real estate players awake at night? Politics. “It’s political risk at all levels,” Related Companies’ Jeff Blau said during a panel discussion on Wednesday. “National, state and city.” Blau joined a group of CRE heavyweights — Bill Rudin of Rudin Management, Winston Fisher of Fisher Brothers and Mary Ann Tighe of CBRE — on stage at the NYU Schack Institute of Real Estate capital markets conference to discuss, among other things, the looming uncertainty posed by Mayor-elect Zohran Mamdani.  Panelists weighed the broader social proposals Mamdani has championed. Free childcare and subsidized transportation, Fisher […]

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Mario Nawfal has a knack for getting Mr. Musk’s attention online, and for turning that into big business.