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FBE Limited picks up Inwood development site for $26M

Abraham Fruchthandler’s FBE Limited paid $26 million for an Inwood development site where two years ago the City Council had quashed a rezoning. Acadia Realty Trust sold the property at 4650 Broadway, according to property records. The company, in partnership with Washington Square partners, had previously planned a 15-story building with...

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The Real Deal LA’s spring issue is live!

As 2017 earnings reports trickle in from various public real estate companies, the industry is fighting off some serious salary envy. After all, when Blackstone CEO Stephen Schwarzman takes home at least $785 million, a broker’s income can seem paltry by comparison. Those employed across a spectrum of real estate...

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Forever 21 taking over H&M’s former Penn Plaza digs

Forever 21 is relocating its Herald Square-area store to a space nearby that was once home to rival retailer H&M. The fast-fashion powerhouse inked a five-year deal with Vornado Realty Trust to lease the 43,000-square-foot space at 435 Seventh Avenue near Penn Plaza, sources told The Real Deal. The store...

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Stonebridge lands $92M loan for Midtown properties

Stonebridge Companies has landed a $92 million loan for a pair of Midtown properties. The loan from Aareal Capital Corporation will go toward 223 West 34th Street, a four-story commercial building, and 218 West 35th Street, the 348-key Renaissance New York Midtown Hotel, according to property records. Both sites are...

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Sting officially sells penthouse for $50M

He dreams of rain. The forecast is $50 million in cash. Pop singer Sting officially sold his 10-room condominium at 15 Central Park West, documents filed with the city Friday show. The buyer is 15 CPW PH LLC. The news was first reported by Curbed. The apartment went into contract...

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Resi firms descend on remnants of Town

Within hours of the demise of Town Residential‘s sales and leasing divisions on Thursday, the text messages and emails started flying. With several hundred brokers suddenly free agents, Town’s rivals wasted no time swooping in to lay claim on remnants of the carcass. One senior brokerage executive compared the phenomenon...

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Solow files plans for 57th Street mixed-use tower

After several years of assembling sites and wrangling with tenants in court, Solow Realty and Development has filed plans for a 52-story mixed-use skyscraper on West 57th Street. The tower, which will rise at 10-12 West 57th Street, is expected to feature 80 residential units and 180,396 square feet for...

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