JDS Development and Property Markets Group’s 111 West 57th Street is almost across the sellout finish line.  One of the last remaining units at the Billionaires’ Row tower, asking $18.3 million, found a buyer and crowned Manhattan’s luxury market last week, according to Olshan Realty’s report. The condo was the most expensive of 20 properties asking $4 million or more to enter contract between Jan. 5 and Jan. 11, up from just 13 in the previous period.  Unit 36 initially asked $21.3 million when the developers began marketing condos off of floor plans roughly a decade ago. The apartment spans […]

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After receiving a diagnosis of terminal cancer, he used his experience in public relations to draw attention to the skyrocketing cost of medication.

Billionaire Chinese developer Zhang Xin is looking to sell her stake in Park Avenue Plaza in one of the first big office listings of the year. Xin’s Closer Properties put its 49 percent interest in the tower at 55 East 52nd Street up for sale in an offering that would value the 45-story building at $1.3 billion, The Real Deal has learned. At 1.2 million square feet, the building is nearly fully leased to tenants like Evercore, Morgan Stanley and General Atlantic. The property has “no significant expirations until 2035 provides investors with more than a decade of stabilized NOI […]

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Bob’s Discount Furniture filed for an initial public offering, indicating it plans to grow to 500 stores over the next decade.

The justices heard arguments over whether oil companies sued by Louisiana could move the cases from state to federal court, a venue thought to be friendlier to corporate interests.

The National Urban League left Bushburg Properties and its conversion of 80 Pine Street months ago, but not without skipping out on its rent, according to a lawsuit filed by the developer. Bushburg is suing the civil rights nonprofit for allegedly failing to pay rent for the last five weeks of its lease, Crain’s reported. The landlord alleges the National Urban League defaulted on more than $400,000 in payments. Filed in New York state Supreme Court, the lawsuit alleges the nonprofit’s lease expired on June 30, but the organization failed to leave until early August.  The nonprofit relocated to 121 […]

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Nvidia and Eli Lilly and Co. are partnering to build an artificial intelligence-powered laboratory in Silicon Valley, a push to deepen AI technology’s influence in biotechnology and the pharmaceutical industry.

Net lease REIT Realty Income Corp. has teamed up with Singapore’s sovereign wealth fund to fuel its next phase of growth.

The deal would cut tariffs and include a commitment from Taiwanese Semiconductor Manufacturing Corporation, the island’s chip giant, to build more manufacturing plants in the United States.

Real estate fixer Mark Nussbaum is in a big mess and things don’t seem to be getting much better. Nussbaum acted as an attorney, a bridge lender, a deal connector and even a landlord, all while running his law firm Nussbaum Lowinger.    Now he’s staring down a $400 million hole with former clients alleging he misappropriated escrow funds. He’s also facing criminal charges from Manhattan’s District Attorney’s office for allegedly stealing at least $15 million from escrow clients. (Nussbaum has pleaded not guilty). One lawsuit accuses Nussbaum Lowinger of running a Ponzi scheme with much of the money going to […]

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