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 […]

Sparks fly over politics and projects at fiery developer panel

Someone snatched The Real Deal managing web editor Hiten Samtani’s moderator notes just minutes before the beginning of the TRD Forum’s panel on how the Trump administration is impacting real estate. But this was a group that needed hardly any prompting to get the conversation going. The panel began with what sounded like a strong […]

The Specialists Ltd. wants to construct an armory for tanks and hovercrafts in Ridgewood

Movie props maker The Specialists Ltd. filed plans for a 143,000-square-foot building in Ridgewood, Queens to store cars, military vehicles, trucks and “futuristic hover vehicles” for film shoots. The planned four-story property at 48-05 Metropolitan Avenue will replace an existing 63,000-square-foot building and include a restaurant space. “The New York film industry is maxed out,” […]

Jeff Sutton secures $125M to refi Harlem retail building

Jeff Sutton’s Wharton Properties locked down $125 million to refinance its six-story retail building on West 125th Street in Harlem. JPMorgan Chase and Morgan Stanley provided the financing, the Commercial Observer reported. The financing is comprised of a first mortgage and a mezzanine loan, according to the publication. The loan replaces $102 million in financing […]

WATCH: Real estate is having a Napster moment

On March 9, The Real Deal celebrated the official launch of our new real estate and research division, TRData, with a Big Data + Real Estate Forum, which featured two panels on the future of data and tech in the industry. The second panel, moderated by TRD’s Katherine Clarke, brought together Harley Courts, CEO of […]

NYC spared CMBS wall of maturities fallout – for now

The delinquency rate for New York City’s CMBS market fell in February, while market-wide the delinquency rate continued to rise in the fallout from the so-called “wall of maturities,” dragged down by the office sector in particular. There was a total of $59.4 billion on the New York CMBS market in February, down 3.9 percent […]