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Sandro Rosell
FC Barcelona President
Thursday, July 20, 2017

Real Estate

For the moment at least, the longtime Upper East Side home of Aby Rosen has escaped the auction block. 

The townhouse located at 5 East 80th Street is currently owned by the Republic of Niger. After the West African country defaulted on a large judgment last year, the property was scheduled to be sold on June 27 by the U.S. Marshals Service. Then on June 13, a judge issued a stay of execution, which gave Niger more time to pau the $46 million.

According to The Real Deal, “The dispute began in 2011, when Niger contracted passport maker Africard to produce a million biometric and electronic passports, but then abruptly terminated its order. A judge sided with Africard last year, but earlier this month Niger filed a motion to dismiss the

Clipper Equity owner David Bistricer is looking to offer 166 condominium units at 70 Battery Place according to an offering plan filed last week with the New York state Attorney General’s office, reports The Real Deal.

The total projected sellout for the converted rental apartments is $192 million and Clipper Equity paid $73.6 million for the building in 2014, says The Real Deal.

In 1999 the Brodsky Organization built 70 Battery Place, also known as River Watch, and tax records reveal that it

While anxieties run high regarding increasing rents and possible displacements, two controversial rezoning proposals were rejected by community boards in Harlem and Crown Heights.

The members of Community Board 9 voted on Tuesday night, June 27, to not support the plan at would convert the Bedford-Union Armory into condominiums. This outcome was praised by the dozens of activists who attended the meeting donning signs which read “BFC = Gentrification,” referencing the project’s developer BFC

On Tuesday night, June 27, a city panel voted to permit landlords to raise rents on one-year and two-year leases for approximately one million rent-regulated apartments in New York City. This is the first time in three years that these tenants will have their rent increased. 

For two years in a row, the Rent Guidelines Board was swayed by tenant activists and political leaders to vote to freeze rents on one-year leases and allow only a 2 percent increase on two-year leases. Never before had

Rose Associates is selling the condominium and co-op management wing of its business to Terra Holdings, the parent company of brokerages Brown Harris Stevens and Halstead Property, reports The Real Deal.

According to The Real Deal, the decision to sell comes just as the firm looks to raise $300 million in equity for a multifamily acquisition fund.

Rose Associates co-president Adam Rose, said the management part of the company represents about 15 percent of his development company’s total