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How Keen Is Manhattan Valley?
An unexpected alliance between a powerful developer and a neighborhood retirement home is causing an uproar in the Manhattan Valley section of the famously ornery Upper West Side. Enigmatic developer...
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No Condos as Chetrit Checks In to the Chelsea
Artists and nostalgists need not fear--the Chelsea will remain a hotel. Joseph Chetrit is the mysterious buyer taking over the famous flophouse, The Journal reports today, beating out more talked about...
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Bed Bath & Beyond Building on the Block; Could Fetch $500 M., Sources Say
Hot on the heels of RXR Realty’s purchase of the Starrett-Lehigh Building for $900 million and the sale of 111 Eighth Avenue to Google for $1.8 billion, Bed Bath & Beyond’s building is on the...
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Lehman Brothers Unloads 200 Fifth to JPMorgan in $700 M. Deal
How the Lehman-ade gets made. As expected (we noted last week this would likely happen and soon), Lehman Brothers has agreed to unload its majority stake in the old Toy Building at 200 Fifth Avenue in...
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Joseph Chetrit, the Most Mysterious Big Shot in New York Real Estate
Joseph Chetrit, right. One summer Friday in 1994, Ron Cohen, one of the top commercial brokers in New York City, picked up the phone in his office at the old Insignia/ESG, a precursor to today’s...
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Jamestown on Cusp of Buying $80 Million Chetrit LIC Property: Report
Jamestown Properties, the owners of The Chelsea Market and One Times Square, is on the cusp of purchasing The Falchi Building, a Long Island City office property co-owned by Joseph Chetrit for over $80...
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Welcome to the Big Leagues: David Bistricer and the Sony Building
When Aaron Jungreis sought a buyer for the Bossert Hotel at 98 Montague Street in Brooklyn Heights last year, a long list of obstacles stacked up. The off-market deal meant potential buyers had limited...
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Joseph Chetrit and Partners Sling $150 M. at Former Cabrini Medical Center Site
Joseph Chetrit is in contract to purchase the 1.5-acre former Cabrini Medical Center site at Second Avenue and East 19th Street, The Wall Street Journal reported today. The Chetrit Group and its...
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Another Setback for Joe Chetrit at Chelsea Hotel: Speaker Quinn Alleges...
The Department of Buildings ordered Joseph Chetrit to stop work at the Chelsea Hotel on Friday night, one day after City Council Speaker Christine Quinn sent a scathing letter asking the developer to...
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Midtown Madness: Leasing Still Sluggish in Manhattan’s Priciest Market
Midtown Manhattan, the biggest and most expensive U.S. office market, is still adapting to New York’s post-financial-crisis economy, as technology and new media companies flood into the more affordable...
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Power 100 Heat Map
From a Taconic Investment Partners project in Hunts Point to the World Trade Center site in Lower Manhattan, power in New York real estate circles has increasingly expanded from the comfortable...
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Fate of Greenpoint Towers To Be Determined This Week [Updated]
Long-simmering plans to put up two new high-rise towers along the Greenpoint waterfront should be put to a vote this week, and the project's future mostly lies in the hands of City Council member...
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Q&A: David Schonbraun, Co-Chief Investment Officer, SL Green
David Schonbraun of SL Green Mr. Schonbraun told Mortgage Observer about his tennis career, SL Green’s entry into lending and how New York City has more available debt and equity than perhaps any other...
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Chetrit, Clipper Equity Score $229M Construction Loan for Flatotel Conversion
135 West 52nd Street. (PropertyShark) Prolific development duo Joseph Chetrit and Clipper Equity received $228.5 million in construction funds to convert a Midtown hotel that was foreclosed on last...
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Chetrit Scores $170M Construction Loan for 255 West 34th Street
The Chetrit Group’s mixed-use hotel and retail development at 255 West 34th Street is one step closer to completion. Yesterday, the developer closed a $170 million construction loan for the project,...
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High Off His Sale of the Sony Building, David Bistricer Talks Condos, de Blasio
David Bistricer, the managing member of Clipper Equity, has worked through all phases of the market in his four-decade-plus run in New York City real estate. He’s had highs, like selling the Sony...
View ArticleChetrit Group Scores $218M ACORE Refi for Multistate Multifamily Portfolio
ACORE Capital has provided a $217.5 million loan to Joseph Chetrit’s Chetrit Group to refinance the Empire Multifamily Portfolio— a portfolio of multifamily properties located in Florida, Indiana,...
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