It’s beginning to look a lot like construction financing for Joel Schwartz just in time for Christmas. The Southside Units developer landed a $72 million loan for a multifamily project at 236 Gold Street in Downtown Brooklyn, the Commercial Observer reported. BridgeCity Capital provided the financing for the 14-story development. The financing comes at an 80 percent loan-to-cost ratio. The term is for 18 months with multiple options for extensions. BridgeCity director of originations EJ Ehrlich said in a statement that the deal reflects a “commitment to financing high-quality, ground-up projects where strong sponsorship and market fundamentals intersect.” Southside did […]

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Despite recent volatility in the crypto market, younger generations are still open to receiving digital currencies as gifts.

Recent U.S. actions against ships near Venezuela may embolden other countries to seize or detain ships, legal experts said.

The billionaire sheen of 220 Central Park South is getting scuffed by a decidedly unglamorous neighbor dispute this holiday season. Gainsborough Studios, the landmarked 1908 co-op next door at 222 Central Park South, is suing Vornado Realty Trust over damage allegedly caused by years of heavy-duty construction at the ultra-luxury supertall, the New York Post reported. The co-op is seeking at least $3 million to cover repairs it claims Vornado agreed to pay for but refuses to reimburse. The allegations paint a vivid picture of what happens when a 70-story tower rises beside a 16-story historic building.  Excavation for 220 […]

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Buyout firms have struggled to sell companies they own and have instead found a workaround to get cash back to clients: Selling the companies to themselves.

Our photojournalists and others have captured images of how major changes from Washington and elsewhere rippled across the world.

A Democratic Socialist for mayor. Three casinos. New rules for residential brokers. The demise of member deference.  2025 was a consequential year of political and policy shifts that will affect the real estate industry.  The big one, obviously, is that New York City will have a new mayor come January 1. Democratic Socialist Zohran Mamdani wasn’t the first or even second choice for many in the industry. In fact, many rallied behind former Gov. Andrew Cuomo ahead of the June primary, pouring millions of dollars into political action committees backing his campaign.  When Cuomo lost, some jumped ship to Mayor […]

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The Trump administration said five regulators and researchers who work to tackle disinformation and abuse on the internet had been barred from entering the United States.

There were 264 transactions totaling $1.4 billion recorded in New York City over the past 24 hours before 4 p.m. on Tuesday, Dec. 23. 🏆 Residential: The top home sale recorded in New York City was in Lenox Hill. EJS Development sold three pads at 200 East 75th Street for a total of $50.3 million. One 5,300-square-foot penthouse traded for $21.2 million, while another 4,800-square-foot penthouse went for $18.5 million. The buyers of those units were LLCs. A third 3,700-square-foot unit with six bedrooms went for $10.6 million to buyer Aaron Appel, a former JLL executive who is now at […]

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Buyout firms have struggled to sell companies they own and have instead found a workaround to get cash back to clients: Selling the companies to themselves.