Hedge funder buys 432 Park penthouse for $38M

From LLNYC: An 81st-floor penthouse unit at 432 Park Avenue has just sold for $38 million, per city records. The buyer appears to be Alexander J. Roepers, the founder and chief investment officer of Atlantic Investments Group, an investment firm. Atlantic Investments Group did not immediately return request for comment. Douglas Elliman, which is handling sales […]

Epic Commercial Realty sees major shakeup after sale

In February, Epic Commercial Realty promoted one of its senior brokers to be a partner, principal and head of the Manhattan division alongside CEO Yona Edelkopf. That leadership structure didn’t last very long. Just a few months later, the broker, Ido Tzaidi, and his colleague, Sasi Elya, bought the Brooklyn-centric middle-market investment sales brokerage from […]

PE firm reaches $70M ground lease deal for Staten Island self-storage project

Private equity firm Equator Capital Management signed a 99-year, $70 million ground lease for a development site in Staten Island and plans to build a 136,000-square-foot self-storage building. The $70 million price tag is the net present value of annual rent payments for the entire term of the lease, according to Pure Properties Commercial Division’s […]

National Cheat Sheet: Facebook launches ad product to compete with Zillow, Blackstone-Starwood merger creates biggest landlord in the US … & more

Facebook debuts advertising service for brokers that competes with Zillow This week Facebook debuted an advertising product geared towards residential real estate brokers, in what some experts interpret as a move to seize the turf of online listings portal Zillow. Even though Facebook and Zillow recently partnered to put Zillow ads on Facebook, the social […]

We’ll give you three guesses where Ivanka is opening a new store

From LLNYC: Bloomingdale’s shoppers may not be thrilled when they spot Ivanka Trump’s brand, but we guess anyone who visits Trump Tower feels differently. The First Daughter’s fashion line is opening a new store location there, with signs advertising it cropping up last night in Trump Tower. Trump herself no longer runs her brand, though she still owns it. […]