Madison Capital, Lubert-Adler finally sell 71 Fifth Ave leasehold

October 30, 2026 / no comments

It took five years and a significant pricing reduction, but Madison Capital and Lubert-Adler finally dumped the leasehold interest at 71 Fifth Avenue. Namdar Realty Group bought the leasehold at the Class B office building for $62 million, the Commercial Observer reported. The deal was finalized last week, according to Traded, which first reported the transaction. The 11-story property straddles the Flatiron and Union Square submarkets. Igal Namdar has approximately 90 years left on the lease; the landowners are Samco Properties and the family of Mark Lapidus, who was the global real estate chief of WeWork. A Meridian Capital Group […]

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

NY Dirt: Mamdani admin plays nice with Humberto Lopes 

October 30, 2026 / no comments

At the Gotham Housing Alliance resource fair, everyone is looking for help.  The fair, run Thursday by Brooklyn landlord and social media personality Humberto Lopes, was advertised as an opportunity for landlords to get in front of city housing agencies. The Mamdani administration sent representatives from several departments to the event in Industry City, including buildings, finance and housing preservation and development.  It was in some ways an unlikely pairing. Lopes is known for his brash and sometimes profanity-laden videos criticizing aspects of the Mamdani agenda, including the rent freeze on stabilized apartments and the Community Opportunity to Purchase Act. […]

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