On Thursday afternoon, a group of tenants gathered at the corner of West 55th Street and Sixth Avenue.  “Don’t let our homes be sold to another slumlord!” they said.  Just a few blocks away, a very different gathering was taking place: an auction for those same homes.  At the law offices of Weil, Gotshal & Manges, bids were circulating for more than 5,000 mostly rent-stabilized apartments. They are the property of Joel Wiener’s Pinnacle Group, which had put them into bankruptcy.  We’ve heard the auction started Thursday morning and went into the night. But the winner was confirmed at 4 […]

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There were 170 transactions totaling $338 million recorded in New York City over the previous 24 hours before 4 p.m. on Friday, Jan. 9, 2025. 🏆 Residential: The priciest residential real estate sale recorded in New York City came in at $10.4 million. Brian and Karen Cohen scooped up a sponsor unit at Pontiac Land Group’s 50 West 53rd Street in Midtown. The unit first hit the market in 2020, with an asking price of $15.4 million. Douglas Elliman is handling sales at the property. 🏆 Commercial: The Eastchester section of the Bronx had the top commercial deal recorded in […]

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

Plus, the impossibility of being a middle manager.

Neon scored more film nominations at the Golden Globes than any other studio this year with a slate of six non-English language films.

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The president revived a campaign promise he has not actively pursued since taking office.

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President Trump met with oil and gas executives on Friday in an effort to push them to invest money in Venezuela, a plan many of them are reluctant to embrace.

Despite efforts by Mayor Zohran Mamdani’s administration, Summit Properties is slated to take over more than 5,000 mostly rent-stabilized New York apartments from Joel Wiener’s Pinnacle Group. The final auction price was not immediately clear after the firm issued an initial bid of $451 million.  It’s the result of Pinnacle’s bankruptcy auction, in which Summit represented the minimum, or stalking horse, bidder. A confirmation hearing is scheduled for January 15.  The auction commenced despite efforts by tenants and elected officials, most recently Mamdani’s office, to delay the sale. The coalition had asked the judge in the case for more time, […]

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

The social media platform says it was pressured into licensing agreements for songs “at inflated rates.” In 2023, publishers sued the company for copyright violations.