Famed comedy club Carolines nixes Times Square lease renewal

The Real Deal New York 12/7 5:21A By TRD Staff

After 30 years in Times Square, renowned comedy club Carolines on Broadway is set to close its doors at the end of the year. The 10-year lease at FosterLane Management’s 750 Seventh Avenue is set to expire at the end of the month, the New York...

Oh, rats! Eric Adams contests summons for infestation

The Real Deal New York 12/7 4:00A By TRD Staff

For once, it’s not the rats who are absolutely going to hate this announcement — it’s the mayor. Eric Adams had his day in virtual court on Tuesday over a rat infestation at a Brooklyn rental property of his, the New York Times reported. The mayor...

Mortgage applications decline even as rates fall again

The Real Deal New York 12/7 3:16A By Holden Walter-Warner

Mortgage applications continued their downward swing last week, but lower rates are sparking activity in the refinancing market. Applications declined 1.9 percent from a week earlier, the Mortgage Bankers Association revealed on Wednesday. The...

Douglaston CEO sees 421a dead until 2026

The Real Deal New York 12/7 1:45A By Orion Jones

The governor and real estate industry are gearing up to revive 421a, but developers should not count on success next year. Or the year after that. In fact, Douglaston Development CEO Jed Resnick said, it will probably be 2026 before politicians...

iBuying on the brink: Where does the controversial homebuying model go from here?

The Real Deal New York 12/7 1:00A By Hiten Samtani

iBuying was feared to do to real estate agents what Expedia did to travel agents — render them extinct. So far, however, it s the iBuyers that are facing extinction, one by one. First it was Zillow, which bowed out of the iBuying game after...

How CRE brokerages are responding to i-sales slowdown

The Real Deal New York 12/7 12:30A By Pat Ralph and Sam Lounsberry

Budget managers at big commercial brokerages have traded in their kitchen scissors for industrial chainsaws. What was a delicate approach to cutting costs in the first half of the year became much more aggressive this fall as surging interest...

Park Mansion owner struggles to collect $1.5M in rent from evicted socialite

The Real Deal New York 12/7 12:00A By Suzannah Cavanaugh

This fall, it seemed that justice had finally caught up with a Manhattan socialite who skipped town and the rent on her Upper East Side apartment during the pandemic. In October, a judge issued an eviction warrant against Libbie Mugrabi, ex-wife...

Trump Org convicted of criminal tax fraud

The Real Deal New York 12/6 9:53A By TRD Staff

A jury on Tuesday found affiliate companies of the Trump Organization guilty of nine counts of tax fraud and related crimes. The two companies were convicted on all counts after a six-week trial, Daily Beast reported. The case alleged the Trump...

Ryan Gorman out as Coldwell Banker CEO

The Real Deal New York 12/6 9:26A By Harrison Connery

In one of the residential world s biggest leadership shake-ups, Ryan Gorman, the CEO of brokerage behemoth Coldwell Banker, is leaving the company, The Real Deal has learned. Coldwell Banker staff were told of Gorman s departure at a town hall...

Former Lt. Gov. Brian Benjamin skates on three charges in fraud case

The Real Deal New York 12/6 8:31A By TRD Staff

A federal judge dismissed three charges against former New York Lt. Gov. Brian Benjamin stemming from allegations of campaign finance fraud. Benjamin’s request to dismiss three counts of bribery and honest services wire fraud in the federal...

Greenport presses pause on waterfront commercial development

The Real Deal New York 12/6 7:00A By TRD Staff

Under the dark of a Friday night meeting, the Greenport Village Board made a decision guaranteed to rankle North Fork developers. The board unanimously adopted an immediate moratorium on development in the waterfront commercial, retail commercial...

Brookfield buys CSX industrial site in Northern New Jersey for $67M

The Real Deal New York 12/6 6:00A By Keith Larsen

Brookfield Asset Management bought an industrial and rail facility in Northern New Jersey from CSX for $67.3 million as the investment giant continues its spree of tri-state industrial acquisitions. Brookfield bought a 9.3-acre site at 1100...

The Access playbook: Inside billionaire Blavatnik’s real estate ambitions

The Real Deal New York 12/6 5:26A By Keith Larsen

When Ziel Feldman s HFZ Capital Group paid $870 million for a site on Manhattan’s High Line to build a luxury condo project, Jonah Sonnenborn was perplexed by the then-record price, which came out to more than $1,000 per square foot. “We bid...

Steve Croman seeks $2.6 million from restaurant he evicted

The Real Deal New York 12/6 5:15A By Pat Ralph | Research By Jay Y

Steve Croman has sent a Latin restaurant packing, and he wants to make sure the eatery doesn’t skip out on its tab. An entity connected to the New York City landlord filed a complaint last Thursday in Manhattan against El Carnaval and its...

TRD Pro: Is homebuilding really down?

The Real Deal New York 12/6 4:15A By Joseph Jungermann

The following is one of the hundreds of data sets available on TRD Pro — the one-stop real estate terminal for all the data and market information you need. Given inflation, rising interest rates, economic uncertainty and flatlining home prices,...