The Carlyle Group and a familiar partner are back on the Brooklyn multifamily market, this time snapping up a 132-unit property for $105 million. The private equity firm and Jay Greenberg’s Z+G Property Group acquired the 13-story apartment building at 130 Second Street in Gowanus, Crain’s reported. The seller was a joint venture of Joyland Management, Meral Property Group and the Loketch Group. The deal breaks down to $795,000 per unit. A JLL team including Ethan Stanton, Jeffrey Julien and Rob Hinckley brokered the sale, which was first reported by The Promote. Invesco Real Estate provided an $80 million loan […]

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Lenders wrote nine-figure checks in November for everything from multifamily developments to shelters and student housing. TF Cornerstone’s recently-completed luxury Long Island City multifamily development landed the month’s largest deal, a $347 million refi from M & T Realty Capital. Apartment projects in Long Island City, Williamsburg and Gowanus also pulled in fresh capital, while debt flowed to a shelter-heavy portfolio in the Bronx and Queens and student housing in Brooklyn Heights.  Here are November’s top five outer borough loans. Malt money | $347M | Long Island City M & T Realty Capital Corporation provided a $347 million loan to […]

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While kicking Albert Behler to the curb at 1633 Broadway, Rithm Capital is welcoming a major tenant to the Midtown Manhattan office, its first significant move since its billion-dollar acquisition of Paramount Group last month. Paris-based financial services firm Natixis agreed to take 203,000 square feet at 1633 Broadway, the Commercial Observer reported. The lease was signed before the end of the fourth quarter and was disclosed in a Savills report. Details of the lease were not disclosed, though the deal is said to be long-term as Natixis relocates from 1251 Sixth Avenue. Asking rents at its new digs range […]

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Alaska’s order, its largest ever, follows its acquisition of Hawaiian Airlines and is part of its plan to expand, including overseas.

Chris Wright said the Trump administration was in “active dialogue” with Venezuela’s government about the plan.

Almost two years after being indicted, Omnibuild and its former CEO John Mingione are finally nearing a trial date for their alleged roles in a $86 million fraud scheme.  The New York construction firm and Mingione reached a tentative agreement with the Manhattan District Attorney’s office for a trial in April, which could last six to eight weeks. Prosecutors said they recently completed their discovery, consisting of at least 470,000 documents.  “I suppose we’re ready to go to trial,” said Christopher Beard, an assistant District Attorney, during a hearing in front of Judge Ann Thompson in December.  Manhattan District Attorney […]

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The president is again focused on acquiring the mineral-rich island. But lack of clarity about his goals and tactics is weighing on political and business leaders.

There were 232 transactions totaling $1.1 billion recorded in New York City in the 24 hours before 4 p.m. on Tuesday, Jan. 6, 2025. 🏆 Residential: The priciest residential real estate sale recorded in New York City was in Tribeca. A nearly 4,000-square-foot sponsor unit at AORE Holdings’ 85 Worth Street sold for just under $10 million or roughly $2,500 per square foot. The unit has three bedrooms, four bathrooms and original cast iron columns and wood beams. The buyer was DAPM LLC. Douglas Elliman’s John Gomes, Fredrik Eklund, Jacqueline Wilde and Fabio Petrolino had the listing. The unit went […]

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A spike in insurance premiums is a big reason operating costs have shot up. But why did that happen? A prime suspect is bogus litigation, which some multifamily owners say insurers too often settle rather than fight. They point to trip-and-fall lawsuits in which insurers caved despite video evidence proving that the accidents were fake, or that the person who fell in the stairwell was typing furiously on his cellphone rather than watching his step. Will the government come to the rescue? Might Zohran Mamdani prod the City Council or state to offer a low-cost insurance product, allowing owners to […]

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The board said the blockbuster deal it reached with Netflix last month posed less risk.