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Luxury market strikes back: Olshan

Posted on: October 19, 2015

Source: The Real Deal Author: Ariel Stulberg Manhattan’s luxury market shook off its late-summer and early-fall doldrums, with a whopping 31 contracts signed last week for properties $4 million and up, according to Olshan Realty’s weekly luxury market report.  

Deal to Create A Big Chain In Elder Care

Posted on: October 19, 2015

Source: The New York Times Author: Milt Freudenheim Genesis Health Ventures Inc. said yesterday that it had agreed to buy the Multicare Companies Inc. for $1.06 billion in cash, with backing from two investor groups. The deal would continue the rapid consolidation of the nursing home industry, creating one of the biggest chains of homes and outpatient services for the elderly in northern New Jersey, the Boston area, Pennsylvania and West Virginia.  

Unfinished Portion of Historic UES Townhouse Sells For $45M

Posted on: October 16, 2015

Source: Curbed Author: Zoe Rosenberg n case there was any doubt that the New York City real estate market is gonzo, word is that someone may pay $45 million for an unfinished four-floor condo, now in contract. Granted, the 10,000-square-foot apartment is in the Upper East Side's historic 33-foot-wide Atterbury Mansion on 74th Street between Madison and Park avenues, and has parlor floor heights of 12 feet; but still. The Journal says that the buyers of the four-floor condo have opted to build out its interiors to their own liking, despite the developer's offer to finish the apartment with five bedrooms. How much does it cost to outfit a 10,000 square foot house in luxury finishes, again?  

Half of an Upper East Side Townhouse Sells for $45 Million

Posted on: October 16, 2015

Source: The Wall Street Journal Author: Candace Taylor A four-floor unit in the under-construction Manhattan condominium 33 East 74th Street is in contract for $45 million, according to developer Daniel E. Straus. Measuring about 10,000 square feet, the unit comprises the first four floors of a century-old townhouse known as the Atterbury Mansion. The mansion is part of an assemblage of nine adjacent buildings that make up the 10-unit condominium: The landmarked facades of the buildings were restored, but the insides were gutted and are being combined. Construction is slated to be completed in the first quarter of 2016, Mr. Straus said.  

Under Construction: 935 Madison Avenue

Posted on: March 26, 2015

Source: Commercial Observer Author: Brady Dale What's not immediately apparent about 935 Madison Avenue, between East 74th and East 75th Streets, is that it's an entirely new building — except for the 1876 facade. Daniel E. Straus bought the building in 2010, then worked with developers to have the entire internal structure broken down to the ground. The building at 935 Madison Avenue has since been completely rebuilt inside, both to accommodate high-end retail on the ground floor and 10 luxury condominium units above. The team even dug a foot and a half into the ground to create higher ceilings in the retail space's lower levels.  

Space Provider Gobbles Up Six Downtown Floors

Posted on: February 25, 2015

Source: New York Post

The Pac Man-like WeWork desk and space provider has just leased 240,000 square feet at the 1.11 million-square-foot 85 Broad St. at Stone Street.

The huge downtown deal is the first major lease signed this year and the first large deal in the former Goldman Sachs building. The financial firm sold it to MetLife in 1985 for $74.4 million and Beacon Capital Partners bought a major stake late last year for an undisclosed price that is likely several times more.  

32 contracts for $4M or more signed in first week of February

Posted on: February 10, 2015

Source: The Real Deal The first week of February saw a record number of contracts signed for units that cost $4 million or more, according to the most recent Olshan Realty weekly luxury market report. Buyers signed 32 contracts in that price range, the highest number for this time period since 2006.  

UES Brownstone Gets a Behind-The-Face-Lift

Posted on: December 31, 2014

Source: The Jewish Voice

The Upper East Side has been getting a (behind-the-)face-lift, thanks to the ingenuity of developer Daniel E Straus. In 2010, Straus bought six brownstones in the historic district from the Whitney Museum for $95 million. The Whitney had acquired the buildings over the decades, planning on expanding the museum, but only partitioning the landmark buildings into a maze of offices. Several plans to develop the sites were voted down by the Landmarks Preservation Commission, and others just never came to fruition under the Whitney.  

Rebuilding a Block to Greet the Met Museum

Posted on: December 24, 2014

Source: The New York Times

For nearly half a century, the Whitney Museum of American Art’s Marcel Breuer building has dominated Madison Avenue and 75th Street.

But with the Metropolitan Museum of Art preparing to take over the space, a flurry of construction — including what may be an Apple store — could be construed as the Met effect.