Citing “superior long-term total return to stockholders” and “significant operational and financial achievements,” SL Green Realty opted to give large hikes in total compensation to CEO Marc Holliday and president Andrew Mathias. Holliday earned $16.4 million in 2014, a 29.7 percent year-over-year increase from $12.7 million in 2013, according to a form the real estate investment trust filed April 24 with the Securities and Exchange Commission. Mathias earned $11 million, an 18 percent year-over-year increase … [more]
From the $18.7 million sale of a Chinatown development site to Packer Collegiate College’s $16 million buy in Brooklyn, here is a look at how New York City’s investment sales market for properties between $10 million and $20 million fared this week.
ormer Rizzoli bookstore now totally gone. Home prices are going up, more than expected. What you need to know when selling your apartment. Read these stories and more after the jump.
Eataly’s delayed move to 4 World Trade Center could be the reason the Italian food market hasn’t yet finalized a lease to expand its corporate headquarters at 45 West 23rd Street, close to its flagship location at 200 Fifth Avenue. Mario Batali’s food complex is supposed to move into its new offices — where it plans to expand to 17,000 from 3,000 square feet — this summer, the New York Post reported. Eataly’s move into … [more]
Zar Property NY is moving ahead with plans to construct a two-story glass duplex penthouse on top of a five-story commercial condominium building in Soho, according to filings with the city’s Department of Buildings Monday. The Landmarks Preservation Commission approved a 12,000-square-foot duplex office condo addition at 38 Greene Street, near Grand Street, in January. The penthouse will also have three private terraces totaling 4,000 square feet. The 45,000-square-foot cast-iron building was constructed in 1869. … [more]
From the South Florida Market Report: While some banks are taking a conservative approach when it comes to construction lending, investment and private equity funds are increasingly putting capital into projects to fill the gaps in the current real estate cycle. International investors have also stepped up this time around, sinking their money deep into South Florida’s soil, flooding the area’s new projects with funding and helping to fuel the current development boom, real estate … [more]
Current reader favorites: 1. Corruption probes slowing 421a, rent control talks: Cuomo 2. Pregame analysis: Players weigh in on Meridian Capital’s investment sales push 3. What a Chinese developer’s default means for New York 4. Brooklyn may get a brand-new 5-mile subway line 5. The incredible real estate portfolio of Oracle billionaire Larry Ellison … [more]