EB-5 investment firm fires back at former business partner over profits spat

A Downtown Los Angeles EB-5 investment firm has fired back at allegations from a former business partner that it cut him out of business profits involving a project at the Ace Hotel in New York. Young Hun Kim and 8th Bridge Capital are counter-suing Moses Choi of the Southeast Regional Center in Atlanta for $6 million, calling him a “habitual fraudster.” They filed a countersuit in U.S. District Court in Los Angeles. In December, Choi […]

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“There is no beef”: Contractor group says nonunion org lacks enough clout to represent NYC labor

A Manhattan-based contractor group is taking aim at a nonunion organization, claiming it doesn’t have enough clout to be the voice of open shop labor in the city. The Building Trades Employers’ Association commissioned a report on the New York chapter of the Associated Builders and Contractors – a group that bills itself as the “voice of merit shop” (an alternative term for the use of nonunion and union labor). The report claims that only […]

Entity behind purchase of two 432 Park apartments linked to Helly Nahmad

Hillel “Helly” Nahmad is behind the most expensive resales at 432 Park Avenue to date with his purchase of two apartments at the ultra-luxury tower for a combined $60 million. The Wall Street Journal identified Nahmad’s signature on both deeds, though he and his representatives declined to comment. Nahmad’s father, David, is an art collector and dealer worth a reported $1.85 billion, though the younger Nahmad runs his own gallery out of The Carlyle Hotel […]

Rush reference on the latest episode of Showtime’s Billions

UPDATE – 5/21@4:11PM: Someone threw this up on YouTube. Get it while it’s hot!

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There was a Rush reference on last night’s episode of the Showtime drama Billions (Season 3, Episode 9 – Icebreaker). Axe, Taylor and Wags and are having a meeting with Spartan-Ives to secure some capital, and Axe explains that they need $20 billion. The Spartan-Ives rep then asks when they need it and Axe and Taylor respond as follows:

This luxury eco-resort claims dibs on a new “World Wonder”

Urugua-í Provincial Park in northeastern Argentina has precisely four TripAdvisor reviews and, now, a new luxury hotel for tourists willing to pay top dollar to visit an undercover “World Wonder.” The closest the park’s got to fame was a waterfall about two and a half hours away being features in the movie “Black Panther,” as Bloomberg puts it. But the recently-opened Awasi Iguazú resort has set up a safari-style experience with all concerns taken care […]

Fiverr signs five-year lease in Soho

The freelance services company Fiverr-perhaps best known for its subway ads celebrating “doers”-has inked a five-year lease for 38 Greene Street in Soho, according to sources familiar with the deal. The company will occupy the entire second floor, which spans 9,400 square feet at the Zar Property NY-owned building. The asking rent was $84 per square foot. Zar Property was represented in house, while Fiverr was represented by Gabe Marans and Sean Hoffman at Savills […]

Multifamily development drives March increase in housing starts

Construction starts exceeded expectations in March on the back of strong multifamily development. A federal report released Tuesday show that residential new construction rose by 1.9 percent to a 1.32 million annualized rate, around 50,000 more than the 1.27 million earlier predicted, according to Bloomberg. The typically volatile multifamily sector saw starts rise by 14.4 percent, reversing the 10.2 percent drop in February. A 19.7 percent increase in multifamily starts in January fueled that month’s […]