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Sandro Rosell
FC Barcelona President
Sunday, August 20, 2017

Real Estate

A $65 million penthouse in the 70 Vestry Street condominium is now in contract, according to a Wall Street Journal report last month. The penthouse, located on the condo’s top two floors, could potentially become the most expensive ever sold in downtown Manhattan, beating out Walker Tower’s penthouse, which closed for $50.9 million in 2014, as noted in July. The condominium is under development by Related Companies, whose executive vice president, Benjamin Joseph, declined to reveal the prospective buyers or sales price. 

“As this coveted development moves forward and meets major construction milestones, we continue to see great buyer confidence,” Joseph said in a statement in March. 

“A penthouse of this caliber has never

New York state has closed on a $7 million acquisition with the Greenpoint-based soundstage company Broadway Stages for a 69-acre former prison facility in Staten Island. The new facility is expected to draw in lots of television and movie productions that are looking to film authentic jail scenes.

Broadway Stages agreed to invest $20 million for maintenance work, renovations and the future construction of six soundstages in the old Arthur Kill Correctional Facility as part of the acquisition

On Friday August 11th, Meadow Partners purchased the Axton Building at 733 Amsterdam Avenue in Manhattan’s Upper West Side. The block of 146 residential condominiums was acquired from Starrett Corp. for $61.3 million. As reported by The Real Deal, that is 40 percent below the $105 million asking price for the property when it was first listed a year ago. In 2013, Starrett, a division of Larry Cohen’s Pembroke Companies, converted and renovated the 28-story rental building into a condo property

On Wednesday, August 9, a rezoning plan was unanimously approved by the City Council for a section of Midtown Manhattan. The new zoning rules will improve public spaces and subway stations while permitting the neighborhood to fill with densely packed high-rise office buildings. 

The New York Times reports, “The change will also allow several buildings with landmark status, including St. Patrick’s Cathedral, to transfer their unused development rights to building sites anywhere in the affected

Mansions in the Hamptons are finally selling again, after a long period of inactivity. 

Sotheby’s International Realty broker Beate Moore told Bloomberg News, “We’re coming out of a really down market. It was very frustrating. But the market has picked up, and we’ve seen a surge of huge sales.”

Last month’s reported numbers support this. 48 homes costing at least $5 million were sold during the second quarter of this year, which is the most in nearly one and a half years, according to a