New residential brokerage ‘on fire’
A new brokerage devoted to Manhattan rentals, dubbed ONE NYC RE, launched on Dec. 1 and will be going on a marketing blitz early next year. The firm is a division of United Equity Investments, a five-year-old real estate company that owns over 1 million square feet of commercial and residential space in New York […]
San Fran investment firm pays $21M for Hell’s Kitchen building
Five-story building on 10th Avenue last sold for just $3M in 2011 SPI Holdings, a San Francisco-based investment firm, is breaking into Hell’s Kitchen with the $21 million purchase of a five-story apartment building, The Real Deal has learned. The property, at between West 45th and 46th streets, contains 24 rental apartments including one- and two-bedrooms, and has three vacant retail units […]
New Hipster Boutique Budget Hotel, the 44-room Riff Chelsea Set to Open in New York City
New York City, October 6, 2014 – Riff Chelsea, a musically-inspired walk-up hotel, will debut its soft opening in fall 2014 following a physical transformation that pays homage to its creative DNA. In the early ’80s, pop goddess Madonna crashed at a rundown hotel called the Chelsea Star – the rumored inspiration for her first top-five […]
Here’s what the $10M-$20M NYC investment sales market looked like last week
Queens hospital trades for $10.9M; Akelius buys Crown Heights rental building for $10.5M UPDATED, 11:20 a.m., August 5: 1.) New York criminal defense attorney Gerald Lefcourt sold a five-story commercial building on the Upper East Side after 26 years of ownership. Joshua Polan and Teodora Zobel purchased the building for $16 million. The property, which is […]
Riff Hotel Chelsea sells for $28M
Salt Equities has sold the Riff Hotel Chelsea for $27.5 million to a group of investors, who plan to tear down the existing building and replace it with affordable luxury condos, according to sources familiar with the deal. Salt Equities, led by Sal Smeke and Michael Wahba, sold the hotel at the corner of West 30th […]