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 […]

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 […]

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 […]

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 […]

Compass’ Kyle Blackmon looks for fat profit on his 10 Madison Sq. West pad

Compass broker Kyle Blackmon listed his apartment at 10 Madison Square West for $11.5 million, a $2.8 million markup on what he paid for the pad last year. Blackmon, who brokered the $88 million sale of Sanford Weill’s penthouse at 15 Central Park West to Russian heiress Ekaterina Rybolovleva in 2012,  bought the 2,871-square-foot unit […]

Former Givenchy designer Riccardo Tisci is renting out (half) his Soho townhouse for $14K

From LLNYC: The very fashionable Riccardo Tisci is renting out half of his (equally fashionable) Soho townhouse at 54 King Street for $14,000-a-month. The designer, who stepped down as creative director of Givenchy earlier this year and is rumored to be heading to Versace, and his friend, artist Marina Abramovic bought the townhouse together in 2011 under […]

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 […]