“They’ll do it until they can’t”: StreetEasy’s rental hike squeezes brokers amid tough market

“They’ll do it until they can’t”: StreetEasy’s rental hike squeezes brokers amid tough market

In a market marred by oversupply and concession mania, StreetEasy’s rental fee hike is inviting a new wave of criticism. After introducing a fee last year of $3 per day per rental listing, the portal immediately attracted outrage from the industry. Now, with the increase to $4.50, some industry players see the move as a way for Zillow Group to boost revenue as its share price has taken a beating — while forcing agents to […]

Atlas Capital buys Morningside Heights resi building for $72M

Atlas Capital buys Morningside Heights resi building for $72M

Hotelier Richard Born is selling a Morningside Heights building to Atlas Capital Group for $72.2 million in an all-cash transaction, according to sources familiar with the deal. Atlas is buying the residential building at 601 West 110th Street from Born, which is currently used both by private tenants and by Barnard College as a dormitory. Barnard students make up 183 of the building’s 500 overall residents, according to the college’s website. Born said the property […]

Penthouse at 70 Vestry fails to set Downtown record; sells for $55M

Penthouse at 70 Vestry fails to set Downtown record; sells for $55M

Once expected to be the priciest sale in Downtown Manhattan, the penthouse at 70 Vestry instead sold at a steep discount. The Vestry Street unit had been listed for $65 million – a record for Downtown Manhattan – but closed on Monday for $55 million, according to the Wall Street Journal. This puts it behind the sale of a penthouse at the Getty on West 24th Street by the High Line, which closed for $59 […]

Tish James outlines plans for Trump-related probes

Tish James outlines plans for Trump-related probes

Incoming New York Attorney General Letitia James has outlined some specific investigations involving President Trump and those in his circle that she plans to pursue once in office. James told NBC News that she will look into any government subsidies Trump’s received, illegalities involving Trump’s real estate holdings in New York, the June 2016 Trump Tower meeting with a Russian official and whether his businesses are in violation of the emoluments clause. James will also […]

Tish James says she will investigate Trump, inner circle once in office

Tish James says she will investigate Trump, inner circle once in office

Incoming New York Attorney General Letitia James has outlined some specific investigations involving President Trump and those in his circle that she plans to pursue once in office. James told NBC News that she will look into any government subsidies Trump’s received, illegalities involving Trump’s real estate holdings in New York, the June 2016 Trump Tower meeting with a Russian official and whether his businesses are in violation of the emoluments clause. James will also […]

Blackstone lends Highgate Hotels nearly $250M for Park Central Hotel buy

Blackstone lends Highgate Hotels nearly $250M for Park Central Hotel buy

The Blackstone Group’s mortgage arm provided Highgate Hotels with nearly $250 million to finance its acquisition of the Park Central Hotel. Blackstone Mortgage Trust issued three loans totaling $247.57 million, property records filed with the city Wednesday show. Records list the purchase price at $366.17 million. Representatives for Highgate and Blackstone couldn’t be immediately reached for comment. Pebblebrook Hotel Trust sold the 934-key Park Central Hotel at 870 Seventh Avenue late last month as part […]

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