Two Trees receives 87K applications for 104 affordable units at Domino Sugar’s first residential building

Two Trees Management received nearly 840 applications for every affordable apartment at 325 Kent, the first building to open at its 11-acre Domino Sugar site in Williamsburg. The developer announced Tuesday that it launched leasing at the 522-unit, 16 story SHoP-designed rental tower overlooking the East River. Two Trees, led by Jed Walentas, said it received 87,000 […]

Josh Schuster’s Silverback to lead conversion of Brooklyn Heights dorm

Josh Schuster’s Silverback Development will lead the conversion of a Brooklyn Heights dormitory into 23 condominiums, he told The Real Deal. The former DHA Capital principal and his partners, a group of Great Neck-based investors, acquired the 50,000-square-foot building at 67 Livingston Street for $30 million from Glory Capital earlier this year. The group of […]

Retail’s new sweet spot: A new breed of tenant is building business both on and offline

From the retail issue: Why endure the weeklong pain of a cold-pressed juice cleanse when there’s now a seven-day gummy bear cleanse? The tongue-in-cheek confection — “green juice” gummy bears packed inside Pressed Juicery bottles — is the love child of Beverly Hills gourmet candy shop Sugarfina and Santa Monica juice maker Pressed Juicery. It […]

According to bank regulators, this luxury-filled area in Midtown is considered low-income

Don’t let the luxury towers fool you: the area of Midtown just south of Trump Tower is a low-income neighborhood. At least, that’s how federal bank regulators have seen census tract 102, an area bounded by Park and Fifth avenues, 49th and 56th streets, according to the Wall Street Journal. Census data from 2010 puts […]

Median rent for new development units drops 8% in April

According to the most recent market reports, concessions are up and rent is down across most metrics in Manhattan. Overall, median rent fell 1.8 percent in Manhattan, dragged down by softness in the top 10 percent and in new development units, which fell 7.8 percent in April compared to the same month last year, according […]

Rick Rosan’s Oak Tree Residential scores $46.5M loan to close on Brooklyn multifamily portfolio

A partnership between Rick Rosan’s Oak Tree Residential and Management and California’s Avanath Capital Management has secured a $46.5 million loan for the acquisition of an 18-building Brooklyn multifamily portfolio. Metropolitan Commercial Bank provided the financing for the deal, which is slated to close Thursday for a total price of $76 million, or roughly $435 […]