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 […]

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 […]

How much data should real estate startups share?

Real estate is having a Napster moment as the industry wrestles with how to share Big Data — if at all. That was a key takeaway from a panel on Thursday at the launch of TRData, The Real Deal’s new real estate research platform. “We don’t want to give away our data set,” said Harley […]

REBNY asks state to probe StreetEasy’s Premier Agent feature

UPDATED, March 8, 11:15 p.m.: The Real Estate Board of New York is asking New York regulators to look into whether StreetEasy’s controversial new Premier Agent program violates state advertising laws. Attorneys for REBNY said they have “strong concerns” that the program, which debuted March 1, infringes on a regulation that prohibits advertising a listing […]

Jared Kushner looks to be still tied up in 229 West 43rd Street retail condo

The White House recently confirmed that Jared Kushner, President Trump’s son-in-law and perhaps his closest adviser, would hold on to some of his real estate assets. Kushner, who recently stepped down as head of Kushner Companies, has so far declined to provide a comprehensive list of what he will and will not keep. But a […]

In unusual move, Magnum renames the Luminaire nearly one year into sales

What’s in a name? When it comes to hawking condominiums, the right moniker can be a powerful selling tool. But the wrong one can also be a deadweight. In a rare move in new development marketing, Magnum Real Estate Group changed the name of its 385 First Avenue condo conversion project from the Luminaire to […]

Data center REIT takes 22K sf at Durst’s 1133 Sixth

Equinix, a real estate investment trust focused on data centers, is taking a full floor at the Durst Organization’s 45-story Midtown office tower at 1133 Sixth Avenue, the landlord told The Real Deal. The California-based REIT is set to occupy 22,111 square feet on the sixth floor of the 1.1 million-square-foot property, between West 43rd […]

Corcoran lands city’s priciest rental — and its listing agent

Andres Perea-Garzon — who holds the distinction of brokering the city’s priciest rental deal at $500,000 a month — jumped to the Corcoran Group after a year at Compass. Perea-Garzon rented out a suite on the 39th floor of the Pierre for half-a-million dollars back in 2014. The full-floor, 4,800-square-foot pad was re-listed for the […]