Hackman, Affinius secure $280M refi for Silvercup Studios

July 18, 2025 / no comments

The owners of one of New York City’s most prominent film studios refinanced the debt on the facility. Hackman Capital Partners and Affinius Capital reached a fresh agreement on the debt backing Silvercup Studios at 42-22 22nd Street in Long Island City, Bloomberg reported. Terms of the refinancing were not disclosed. The $280 million debt originated by Apollo Global Management and Deutsche Bank was due to mature soon. The loan dates back to when the partners acquired the Queens film studio five years ago. Newmark’s Jordan Roeschlaub and Jonathan Firestone arranged the financing. None of the parties involved in the […]

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

NYC’s top deals: Billionaires’ Row condo trades for $21M

July 18, 2025 / no comments

There were 160 deals, totaling about $264 million, recorded in New York City on Thursday, July 17. 🏆Residential: The top residential sale recorded in New York was for a sponsor unit at Michael Stern’s JDS Development and Property Markets Group’s 111 West 57th Street along Billionaires’ Row that went for $21.3 million. The buyer was an LLC whose member is Kong Lo. The deal for the 4,500-square-foot pad works out to roughly $4,700 per square foot. The three-bedroom residence went on sale in 2023 for about $29 million. Sotheby’s International Realty’s Nikki Field, Ben Pofcher, Jeanne Bucknam and Emma Burakovsky […]

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

FiDi condo glut drags down sales at 125 Greenwich

July 18, 2025 / no comments

It’s been a slow burn at 125 Greenwich Street, the Rafael Viñolay-designed tower in the Financial District.  The 272-unit tower has begun closing on its first residences, 11 years after the original development team — several of whom are no longer with the project — bought the site.  The announcement came on the heels of developers Bizzi & Partners, Bilgili Holdings and Fortress Investment Group declaring the project condo effective after the 42nd unit in the building signed a contract, inching past the 15 percent sold mark required by the offering plan filed with the attorney general’s office.  But the […]

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

The Daily Dirt: Real estate adages for the ages

July 18, 2025 / no comments

We asked Daily Dirt readers last week for some of their favorite real estate adages. David Breger couldn’t pick just one, so he sent nine: “No risk, no reward.” “The best deal is the one at the table.” “Never make a deal on Friday.” “Don’t buy a building too far to walk to on Shabbos.” “If you start as a lender, you’ll end up as an operator.” “Real estate is about leverage.” “Loves the bricks; hates the tenants.” “Stabilization isn’t a ceiling; it’s a floor.” “Don’t get a nose job.” (to a successful buyer) Breger added, “I know a lot […]

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

Educating Zohran: What nonprofit housing actually costs

July 18, 2025 / no comments

Here’s another reality check for Zohran Mamdani: A nonprofit is spending nearly $1 million per unit to build affordable housing for seniors, despite only putting up studios and one-bedrooms. The latest example disproving Mamdani’s claim that he can build affordable housing for $500,000 per unit — with union labor, no less — comes from the Grand Street Guild. As Lilah Burke reported in The Real Deal, the nonprofit has patched together financing for a $176 million, 191-unit project on the Lower East Side. Her article shows the complexity and cost of subsidized housing. The Guild is getting $19.5 million from […]

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