Make Greenland Great Again? Trump wants to buy Arctic territory

Make Greenland Great Again? Trump wants to buy Arctic territory It’s not Manhattan real estate, but President Trump sees the upside in Greenland, an autonomous Danish territory surrounded by the Atlantic and Arctic oceans. Trump has brought up the idea of buying Greenland with his advisors on multiple occasions and directed his White House counsel to look into the matter, according to the Wall Street Journal. Buying the entire 811,000-square-foot island of Greenland from Denmark has been considered before, albeit…

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case Back in the spring, lender Maverick Real Estate Partners lost a foreclosure case it filed against the owner of a Chelsea apartment building. But the legal battle isn’t over. Landlord Andreas Steiner claims in a new lawsuit that Maverick continues to charge punitive default interest at the rate of 24 percent a year — or, as of May 30, about $1.4 million —…

Developer claims Hudson Valley leaders want to keep Hasidic Jews out, Apple searching for massive New York office: Daily digest

Developer claims Hudson Valley leaders want to keep Hasidic Jews out, Apple searching for massive New York office: Daily digest Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. ET. Please send any tips or deals to tips@therealdeal.com This page was last updated at 12:30 p.m.   Developers of a Hudson Valley project say local…

Related is the latest developer to target the Rockaways

Related is the latest developer to target the Rockaways The Related Companies is planning a 149-unit residential building in Far Rockaway. Jamar Adams, a former professional football player who now works at Related, pre-filed an application with the Department of Buildings on Monday for the project. It will be located at 14-06 Gateway Boulevard and span 133,000 square feet, split between 125,000 square feet of residential space and nearly 8,500 square feet of commercial space. The project will stand nine…

Brooklyn rents hit a record high in July: Elliman report

Brooklyn rents hit a record high in July: Elliman report Rents are rising while concessions are falling in Manhattan and Brooklyn, but the opposite is happening in Queens, according to  Douglas Elliman’s July report on the city’s rental market. Manhattan’s median rent increased by 5.7 percent year over year to hit $3,595, and Brooklyn’s median rent went up by 1.7 percent to hit $3,000, a new record for the borough. In Northwest Queens, however, median rents dropped 3.6 percent, compared…

Government will back more condo loans amid cooling housing market

Government will back more condo loans amid cooling housing market Amid a cooling housing market and growing concerns about a recession, the Trump administration is making it easier for first-time condo buyers to get a government-backed mortgage. The Federal Housing Administration is backing more loans for those first-time buyers, according to the Wall Street Journal. FHA loans require significantly lower credit standards than conventional loans and only require a 3.5 percent down payment. The FHA predicts it could insure as…

Apple on the hunt for enormous Manhattan office space

Apple on the hunt for enormous Manhattan office space Apple has joined tech giants like Facebook and Amazon in the competition to lock up prime blocks of large Manhattan office space. The Cupertino, California-based tech company is looking around Manhattan for somewhere between 200,000 and 500,000 square feet for a new office, sources told The Real Deal. One source said the tech firm could take as much as 750,000 square feet. Apple’s checked out the usual suspects of properties on…

UWS tenants accuse Stellar of illegally deregulating apartments

UWS tenants accuse Stellar of illegally deregulating apartments A group of nine tenants is suing Stellar Management, alleging that their apartments were wrongfully deregulated and that they are owed several years worth of excessive rent payments. Tenants of 50 West 97th Street on the Upper West Side filed a lawsuit against Stellar on Wednesday, claiming that the landlord failed to provide documentation to justify rent increases that ultimately deregulated their apartments. Stellar increased the rent, according to the lawsuit, through…

“The Assembly needs more comrades”: Julia Salazar’s chief of staff to challenge real estate favorite Erik Dilan

“The Assembly needs more comrades”: Julia Salazar’s chief of staff to challenge real estate favorite Erik Dilan State Senator Julia Salazar’s Socialist chief of staff Boris Santos announced he will challenge Assemblymember Erik Dilan for his seat in Assembly District 54, a race that could have significant implications for the real estate industry. At a Democratic Socialists of America forum in a unitarian church in Brooklyn last week, Santos announced that he would seek the DSA endorsement to dethrone the…

Nonprofit plans 200+ unit affordable housing development near Essex Crossing

Nonprofit plans 200+ unit affordable housing development near Essex Crossing The nonprofit Grand Street Guild is planning to bring a 274,000-square-foot affordable housing project to the Lower East Side. The mixed-use development at 161 Broome Street will stand 15 stories tall with 232 residential units, and it will include community and commercial space as well, according to plans filed Monday with the Department of Buildings. Handel Architects will design the building. Representatives for Grand Street Guild did not respond to…