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 […]

Génial! Estée Lauder renews giant space at GM Building

Estée Lauder signed a lease renewal for 220,000 square feet at the General Motors Building, landlord Boston Properties announced. The company would not comment on the rent, other than to say that it is higher than it was before. The cosmetics giant’s current deal in the building, for close to 300,000 square feet, expires in […]

Take a rare look at the mansions hidden behind the Hamptons’ famously high hedges

From Business Insider: Beyond its beautiful beaches, bays, and lagoons, there’s another type of eye candy that’s native to the Hamptons: gorgeous, hidden real estate. Tucked at the end of snaking driveways, with huge shrubs blocking any chance of a roadside view, some of the East End’s most breathtaking homes are rarely seen — at […]

Sex in Public: LES residents would like Ian Schrager’s hotel guests to stop having sex in front of the windows thank you very much

Lower East Side residents are upset that they can see guests at Ian Schrager’s new hotel having sex through its oversized windows. The Public hotel at 215 Chrystie Street has received at least 47 noise complaints since it opened, the New York Post reported. “You see them having sex all the time, hands on the […]

Chinese overseas RE investment could nosedive this year: Morgan Stanley

Chinese overseas real estate investment could fall by 84 percent this year and another 18 percent in 2018 amid a government crackdown on capital outflows, according to a new report from Morgan Stanley. This should concern Manhattan’s real estate market, where 30 percent of deals signed this year involved a Chinese investor, Bloomberg reported. Last […]

Solving NYC’s condo riddle

From the August issue: The breakup of Linda and Harry Macklowe after 58 years of marriage became quick tabloid fodder. With a vast real estate empire and a billion-dollar art collection to divide, one of the more salacious details to emerge from their split was that Harry’s then-girlfriend (and now fiancée) was living at 737 Park Avenue — his condo […]