Moinian family sues Sonder over “chaos” at Manhattan hotels

November 13, 2025 / no comments

Sonder’s sudden implosion this week is spilling over into the New York real estate world.  The Moinian family, among the city’s most prominent landlords, sued the collapsed hospitality firm for at least $10 million in damages and is moving to retake control of two Manhattan properties leased to Sonder that have descended into turmoil since the company’s shutdown, Crain’s reported. The lawsuit, filed Tuesday in state Supreme Court in Manhattan, claims that guests at the Moinians’ buildings — 2 Washington Street in the Financial District and 37 West 24th Street in NoMad — have either refused to vacate their rooms […]

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

David Werner, 601W seal deal on $165M Midtown East buy

November 13, 2025 / no comments

David Werner Real Estate Investments and 601W Companies closed on an acquisition in Midtown East, raising the question: Is a conversion next? Werner and 601W bought 205 East 42nd Street from the Durst Organization for $165 million, the Commercial Observer reported. New York-based 601W was reported to be in contract to buy the building in September, but Werner’s involvement was not disclosed at the time. The deal breaks down to $310 per square foot. JPMorgan Chase provided a $100 million balance sheet loan to finance the acquisition. A Newmark team including Adam Spies, Doug Harmon and Adam Doneger arranged the […]

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

Shvo foes unite to accuse embattled developer of civil RICO conspiracy

November 13, 2025 / no comments

Two key parties in Michael Shvo’s no good, very bad year are back with combined claims against the developer.  A new lawsuit accuses Shvo, who made a dramatic exit from a trophy Miami project and fended off lawsuits at a number of his developments, of being engaged in a yearslong Racketeer Influenced and Corrupt Organizations (RICO) conspiracy.  The lawsuit was filed by some familiar foes for Shvo, including the Core Club and its founder and CEO Jennie Enterprise, and two disgruntled residents at Shvo’s troubled Mandarin Oriental condo project at 685 Fifth Avenue in Manhattan.  The parties combined their claims […]

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

The Daily Dirt: Sizing up the FARE Act 

November 13, 2025 / no comments

One year later, here’s how the FARE Act… has fared.  Thursday marks one year since the City Council approved the Fairness in Apartment Rental Expenses Act, which mandates that whoever hires a rental broker is responsible for paying said broker.  What constitutes “hires” has been a major point of contention. The law says if an agent publishes a listing with a landlord’s blessing, that agent can’t collect their fee from a tenant. The Real Estate Board of New York says this violates the First Amendment because it discourages a certain class of people (agents) from expressing a specific type of […]

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

NYC’s top deals: Starwood offloads portion of Bronx development for $94M

November 13, 2025 / no comments

There were 229 transactions totaling $603 million recorded in New York City on Wednesday, Nov. 12, 2025. 🏆 Residential: The top residential sale recorded in the Big Apple on Wednesday, Nov. 12 was along Billionaires’ Row. The Locker Room 121 LLC purchased a full-floor unit at Extell Development Company’s 217 West 57th Street for $47.4 million, down about 14 percent from the condo’s last asking price of $54.9 million. The pad measures more than 7,000 square feet and has five bedrooms and five full bathrooms. Compass’ Maurice Mizrahi brought the buyer. Extell Marketing Group and Corcoran Sunshire Marketing Group are […]

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