Highgate, led by Mahmood Khimji, is buying the Gansevoort Park Avenue NYC in NoMaD a deal worth nearly $200 million. The deal equates to around $800,000 per key for the upscale hotel located at 420 Park Avenue South
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The International Center of Photography Will Relocate to Essex Crossing's 242 Broome Street
International Center of Photography will relocate to Essex Crossing's 242 Broome Street in 2019. The museum is under contract to purchase two commercial condo units and consolidate the ICP Museum and the ICP School into a single, two building, 40,000 SF space.
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Renderings Revealed for Lu Ning-Designed 32-65 107th Street in Queens
New renderings have been revealed for the new residential project to be located at 32-65 107th Street in East Elmhurst, Queens. The project was first announced in 2015 and is under development by Qin Li of Triple 8 Real Properties.
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Featured Listing: Jennifer Lopez Lists Massive Penthouse With Private Courtyard in The Whitman
Jennifer Lopez has listed her penthouse at The Whitman in Flatiron for $26,950,000. The massive 4 bedrooms, 6 bathrooms and 2 half-baths spread over 6,540 SF complete with an additional 3,000 SF of outdoor space and a private courtyard.
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LeFrak City is Back As The Developer Reveals Their $70 Million Redesign
LeFrak has returned to its roots and revealed their new $70 million redesign of LeFrak City in Corona, Queens. The renovation takes their master-planned community that the company founded in 1962 to the next generation.
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Construction Update: The Richard Meier-Designed 685 First Avenue Tops-Off On The East River
The Richard Meier-designed 685 First Avenue has officially topped out and is on schedule for completion in 2018. Located between 39th and 40th street, the residential rental and condo combo tower rises 42-stories, 460', and features 556 residential units.
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Strategic Capital Secures $215 Million Construction Loan For 537 Greenwich Street
A joint venture between real estate investment firms Strategic Capital, Forum Absolute Capital Partners and Cape Advisors closed today on a $215 million construction loan for their recently announced West Soho development project at 537 Greenwich Street (October 4, 2017).
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Stamford Urby Breaks Ground in Downtown Stamford, Reinventing Rental Housing in Connecticut
Stamford Urby, a transformative residential development set to reinvent rental housing in Downtown Stamford, broke ground today (October 3, 2017). The groundbreaking ceremony was led by project developer, Ironstate Development Co., the Hoboken, N.J.-based real estate firm that is bringing the Urby brand to major markets in the Tri-state area
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Featured Listing: Canadian Fashion Mogul Lawrence Stroll Lists One57 Pad for $70 Million
Lawrence Stroll, the multi-billionaire fashion-mogul behind the Michael Kors IPO in 2011 and father of Formula 1 driver Lance Stroll, has listed his One57 pad for $70 million. Stroll first purchased the 85th floor unit in 2014 for $55.6 million.
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LeFrak Reveals Amenities At Murray Hill Marquis
LeFrak has revealed the new amenities at their Murray Hill Marquis boutique hotel to apartment rental conversion. Amenities include a sprawling 1,100 SF fitness center with state-of-the-art cardio and weight machines, as well as a large auxiliary exercise studio for yoga, training, and group classes.
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New Renderings Unveiled of Jackson Park, Tishman Speyer's New Long Island City Rentals
Tishman Speyer has released new renderings of their new, massive rental project known as Jackson Park in Long Island City. The development will feature 1,800 rental apartments spread over 3 towers which rise 42, 44 and 53-stories designed Mack Scogin Merrill Elam Architects and Hill West Architects.
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Will There Finally Be An Ownership Shake-Up At The Standard, High Line Hotel?
Could another shake-up becoming to the New York hospitality industry? Earlier this summer rumors began to surface that Standard International, the hospitality firm founded by hotelier Andre Balazs, which originally bought out The Standard, High Line from other investors in 2014 for $400 million, is in late-stage talks to unload the asset.
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Douglas Elliman’s Raphael De Niro and Maggie Leigh Marshall Tapped to Oversee Sales at The Fitzroy, Set Along the High Line in West Chelsea
Douglas Elliman Development Marketing announced that Raphael De Niro and Maggie Leigh Marshall, one of the brokerage’s top teams, will now be handling the exclusive sales and marketing for The Fitzroy. The Fitzroy will rise 10-stories and feature 14 condominium units located at 514 West 24th Street alongside the High Line.
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UNVEILED, The Rafael Viñoly-Designed 125 Greenwich Street From Bizzi & Partners Development
Bizzi & Partners Development has unveiled 125 Greenwich Street, their new Rafael Viñoly-designed, 88-story, 912' luxury condominium skyscraper with interiors by acclaimed British duo March & White. March & White designed the interiors of 125 Greenwich Street evoke those of luxury yachts to maximize space.
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Trendy New Bluarch Architecture-Designed Commercial Project Revealed in Astoria
A trendy new commercial building developed by Fernando Magalhaes and designed by Bluarch Architecture has been revealed at 40-17 28th Avenue in Astoria. The project will rise 3 stories, 49', and will feature 37,443 SF of total development with 7,113 SF of restaurant space and 7,131 SF of community space.
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Barry Sternlicht's Starwood Capital Group Acquires 30% Steak in YOTEL
Barry Sternlicht’s Starwood Capital Group is investing $250M to acquire a 30% steak in YOTEL, a chain of affordable "pod" style hotels in New York City, Boston, Paris Charles de Gaulle Airport, London Heathrow, London Gatwick, Amsterdam Schiphol; with San Francisco and Singapore opening this year (2017).
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Construction Underway at Brooklyn's First Supertall, 9 DeKalb, From JDS Development & SHoP Architects
Construction is fully underway on Brooklyn's first supertall, 9 DeKalb, from JDS Develoment and Chetrit Group; located at 340 Flatbush Avenue. The tower was designed by SHoP Architects, will rise 1,066' from a base which will integrate the landmarked Dime Savings Bank.
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The Ritz-Carlton's "Versailles in The Sky" Finally Sells $25 Million
The Ritz-Carlton's ‘Versailles in The Sky’ has finally sold for $25 million, close to a 50% discount off of the original list price of $50 million in 2012. The unit was owned by Financier Howard Marks who will move into his 740 Park Avenue Co-Op which he purchased for $52.5 million in 2012.
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New FXFowle-Designed Office Tower, One Willoughby Square, Coming to Downtown Brooklyn
Permits have been filed for One Willoughby Square, a new office tower designed by FXFowle at 420 Albee Square in Downtown Brooklyn. The project was originally supposed to be the tallest residential tower in Brooklyn but has since gone through a series of alterations to now rise an expected 36 floors and 495', covering 385,460 SF of total development.
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Featured Listing: Tour the Lavish Upper East Side Townhome Which Was Originally Built in 1872
An upper eastside townhome that has been listed on and off for nearly a decade has relisted with another price chop 163 East 64th Street. The Neo-Georgian style townhouse was originally built in 1872 by architect John G. Prague, and rebuilt and occupied by architect R.D. Graham in 1901.
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