Deals, debt and Epstein’s ties to the industry

December 6, 2025 / no comments

The conversation around the horrific misdeeds of Jeffrey Epstein appears to be neverending as more revelations continue to drip out, including his connection to real estate. More on that in a bit. But in business news there was a deal this week you probably won’t read about at book fairs across the country. Tony Malkin’s Empire State Realty Trust is in contract to buy the Scholastic Building in Soho for $386 million, the company announced Tuesday. The publisher owns the building at 555-557 Broadway and leases the majority of the space, which includes 368,000 square feet of office and 28,000 […]

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

The Daily Dirt: A tax exemption for rent-stabilized portfolios hasn’t been so helpful

December 6, 2025 / no comments

In New York City, millions of New Yorkers apply to the Housing Preservation and Development for the slim odds of scoring an affordable apartment. But those odds are still better than those for rent-stabilized buildings applying to HPD for financial relief. In November, HPD deferred every application for an Article XI property tax exemption under its Housing Preservation Opportunity program until February, citing project capacity, according to an e-mail exchange shared with The Real Deal. The agency said in the email exchange that it received over 75 applications in the fall and will select a limited number of projects in […]

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

Maimonides Medical Center sells for $151.9 million.

December 6, 2025 / no comments

There were 231 transactions totaling $454 million recorded in New York City over the 24 hours before 4:45 p.m. on Friday, Dec. 5, 2025. 🏆 Residential: Two deals at $8 million were the top of the residential list for today. A single-family home at 1010 East Eighth Street with 2,551 square feet sold in Ocean Parkway. Joseph Benhaim, an Executive VP of InMocean, purchased the house from Yosef Hakoun. 🏆 Residential: A sponsor-sale condominium at 1289 Lexington Avenue in Carnegie Hill sold for $8 million. The developer Zeckendorf Development sold the unit to Nehal J Madhani and Deepa Patil. Jill […]

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