It took a couple of trying years, but former New York City Mayor Rudy Giuliani is cutting his last residential real estate ties to the Big Apple. The two-time mayor and one-time lawyer for President Donald Trump sold his unit at 45 East 66th Street in the Upper East Side for slightly under $5 million, Crain’s reported. The identity of the buyer was not disclosed. The deal works out to about $500 per square foot. Giuliani listed his co-op almost exactly two years ago, seeking $6.5 million. He purchased the 10th-floor apartment for $4.8 million in 2002. His estranged wife […]

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

New York State decided not to collect millions in fines from Greenland USA for blowing past affordable housing deadlines at the long-delayed Atlantic Yards redevelopment after the developer threatened to sue if the state tried. The Chinese firm was supposed to deliver nearly 900 affordable units by the end of May under a 2014 settlement, or face $1.75 million in monthly penalties — $2,000 per incomplete unit. But 11 years later, Greenland hasn’t even broken ground on the railyard platform where many of those apartments were planned, Gothamist reported.  Instead, Empire State Development officials told a local task force earlier […]

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

The Manhattan rental market is hotter than ever. Again. The median rent for a brokered Manhattan apartment reached $4,700 in July, a 9.3 percent change from a year earlier, according to the newest report from Douglas Elliman and Miller Samuel. It’s a new record for the borough, the fifth in the last six months.  The record prices come amid a mayoral race that has been notably focused on housing affordability. Frontrunners Zohran Mamdani and Andrew Cuomo blast each other not only on their housing plans but also on their personal living situations, no reprieve from high rents is expected to […]

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

Treasury Secretary Scott Bessent sought total control over the I.R.S., an agency where Mr. Long, the new commissioner, had started to put his own mark on the job.

For stars promoting their projects, podcasts have become an appealing alternative to late-night TV and glossy magazines.

The Trump administration’s unorthodox Chinese export pact with Nvidia and Advanced Micro Devices is worrying trade experts.

New York has a long, drawn-out process for foreclosing on homes. That is by design: Homeowners are given time because the loss of their primary residence can be catastrophic and is often avoidable. Residential foreclosures shouldn’t be rushed. In contrast, non-judicial UCC foreclosures are fast — 60 days, and notices are limited. The process is intended for commercial properties, whose owners are sophisticated enough to deal with it. Unfortunately, it also applies to co-op shares owned by regular people. Let’s say Mrs. Smith suffers from dementia, forgets to pay her monthly maintenance charges for a while and stops reading her […]

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

A family saga is one step closer to a finale. Mark Harounian notched a win in his legal battle with the sister who sued him a decade ago.  Mehrnaz Homapour claimed her brother duped her into signing agreements that let him enrich himself off family real estate companies. But a state judge Monday said she failed to demonstrate fraud, deciding several claims in her brother’s favor.  The case, which is headed to trial, provides a look into how disputes arise in families where money is plentiful and agreements are informal. Mark Harounian is the son of Jacob Harounian, the Iranian […]

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

The Federal Reserve is poised to lower interest rates in September. But signs of stickier inflation could limit how much relief officials can ultimately provide to borrowers.

Overall, there were 253 deals, totaling about $475 million, recorded in New York City on Wednesday, Aug. 13. 🏆 Residential: Central Park Tower at 217 West 57th Street in Midtown notched the highest residential sale in New York. Matthew Kaulig, owner of the NASCAR team Kaulig Racing, and his wife Lisa Kaulig dropped about $17.6 million — about $5,200 per square foot — on a sponsor unit at the Billionaires’ Row tower, which was developed by Gary Barnett’s Extell Development Company. The 3,400-square-foot, three-bedroom unit first hit the market in August of 2022, with an asking price of $22.6 million, but […]

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