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Sandro Rosell
FC Barcelona President
Tuesday, October 24, 2017

Real Estate

Yet another chapter opens in the ongoing drama around the sale of the Plaza Hotel. The hotel’s current majority owner, Sahara Group, has taken steps to finally sell the property after years of almost selling the hotel but never finalizing any deal, the company has hired a broker to market the iconic building. 

Curbed provides a concise summary of the property’s recent history in an article last week. The paper states, “Let’s revisit how the hotel got here: It’s had many owners over the years, including the Hilton clan and current president Donald Trump; El-Ad purchased it in 2004, and led the conversion of more than 100 of its hotel rooms into luxury condos. In 2012, Sahara Group purchased a majority stake in the company, valuing it at

Developers Victor Group and Lendlease Development are trying to raise their 130-unit condo under construction at 277 Fifth Avenue at East 30th Street near the Empire State Building, above the surrounding buildings with the hopes of attracting residents with spectacular views. 

According to The New York Times, “In a chess-like series of moves that stretched over several years, these developers stitched together not two or three parcels, as is often the case, but essentially eight different lots

These days, with the softening real estate industry in Manhattan, stable long-term retail tenants are a scarcity. To compensate, the real estate industry is adapting to short-term tenancies, named licensing deals. Licensing deals allow tenants to use a space rather than own it for a specified time period. The method is being used to rent to pop-up shops in the city. A pop-up tenancy can last from a day up to a year. Both landlord and tenant can benefit because it avoids lengthy legal processes

Since 2014 David Shaulian and Yonel Devico have been trying to sell their glorious eight-bedroom home at 114 Lockwood Avenue in Bridgehampton. The 11,000-square foot home sits on about half an acre of land, and despite it having eight full bathrooms, a finished basement, a chef’s kitchen, a pool and spectacular cedar-shingles, the home has not sparked he interest of any serious buyers. 

As the summer nears its end, the couple decided to take $100,000 off the property’s list price this

In the modern office leasing market, it has become more and more important to tenants to have “cool” amenities, especially those is the creative fields. Both new and old projects alike are offering features like on-site cafes, games rooms, health clubs and outdoor terraces to appeal to millennials and creative types of every age. 

Dock 72, which is rising out of the Brooklyn Navy Yard, takes the gold with the unique feature of a ferry dock right outside its door. A joint venture of Rudin