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Testimonials

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Sandro Rosell
FC Barcelona President
Sunday, April 23, 2017

Real Estate

The apparel industries in the Garment District say that they will be destroyed if the proposal by the de Blasio administration to rezone the area passes. The demise is already in progress by the looks of the current tenants in the area.

According to Crain’s News, “Six landlords own one-third of the district’s 25 million square feet between West 35th and West 40th streets and Ninth Avenue and Broadway, according to brokerage firm Cushman & Wakefield: The Chetrit Group, Empire State Realty Trust, George Comfort & Sons, the Kaufman Organization, Newmark Holdings and W.P. Carey. Their properties are filled with a hodgepodge of tenants, many of whom have nothing to do with the fashion industry.

None of the landlords is on record

According to first quarter sales reports from Brooklyn, anybody looking to purchase a home in that borough had better have deep pockets. The median sale price for homes there is at a record level. A year ago, a home in Brooklyn that would cost $662,431, will now cost &770,000, according to reports by Douglas Elliman.  This is the third consecutive rise in median home prices in Brooklyn.  Another example of this rise is the increase in average sale prices. They are now at a record high of

One of the most ambitious projects envisioned for the Bronx is in the making.  To turn it into a reality, a new record in financing will likely need to be set for the borough. According to the Real Deal, The Chetrit Group and Somerset Partners are endeavoring to create 1,300 residential rental units throughout seven-buildings in Mott Haven, South Bronx. The project is slated to cost $600 million. The partners plan to put in between $100 million to $150 million in equity. As per Keith Rubenstein

Property records that were made public on Wednesday, April 5, a townhouse in Manhattan’s Upper East Side sold for $79.5 million, the record highest price for a home in the borough. According to appraiser Miller Samuel Inc. the previous record for a Manhattan townhouse was in 2006 when the property at 4 E. 75th Street was bought for $53 million.

For over 80 years, the billionaire art dealing Wildenstein family had their gallery at the 20,500-square-foot property they own located at 19 E. 64th

A piece of property in Downtown Brooklyn measuring out 220,000-square feet is the center of a lawsuit to the tune of $44 million.  The plaintiff is the head of Aview Equities, based in Borough Park, named Abraham Liefer. The defendant is Henry Lieberman, who Abraham Liefer claims violated their contractual agreement to sell the Brooklyn property to Liefer…by attempting to instead sell it to Liefer’s own possible investors for $3 million dollars less than the agreed-upon price of $44 million