7 Crucial ways New York City’s landscape will change in 2017 [CURBED]
Big things will happen in real estate, architecture, and more this year ..…. MORE

Rentopoly: Who owns New York [The Real Deal]
A ranking of the 20 biggest NYC Residential Landlords – and how they’re reshaping the city’s rental market ..…. MORE

As bank loans dry up, condo developers are cobbling together funds any way they can [The Real Deal]
Capital stack for many of those projects often includes multiple tranches of sponsor equity, mezzanine debt, preferred equity, EB-5 funds and even crowdfunding ..…. MORE

The Condo Boom That Doesn’t Add Up  [The Real Deal]
Developers and broker engage in a number of tactics to inflate success at projects..…. MORE

Cuomo Said he’d return 50K apartments to rent regulation-he didn’t come close  [The Real Deal]
State effort to get landlords to comply with a court ruling appears to have fallen far short of goal..…. MORE

The Sloppy 421a Dispute  [The Real Deal]
Bringing back the city’s most controversial tax break has been a messy lobby war behind closed doors since the outset..…. MORE

Second Avenue Subway gets its historical inaugural ride on New Year’s Eve  [Curbed]
Governer Cuomo rang in 2017 at the city’s newest subway..…. MORE

Brexit vote could drive up New York real estate, hurt tourism [CRAIN’S]
The earthquake that could shake Europe if the United Kingdom votes to exit the European Union could be felt in New York. But not all of the repercussions would necessarily be bad. The price of New York real estate could rise as investors look for safe havens against the threat of a global recession……. MORE

In New York City, Rising Rent Has Outpaced Income Growth Since 1960 [CURBED]
Nobody will be surprised to hear that New York rents have increased dramatically since 1960. More interesting, however, is how quickly rent increases outpaced income in the timeframe between 1960 and 2013. ApartmentList released a study analyzing how rents and incomes have changed in urban areas across the country in the past five decades. In 1960, New York had a median rent of $568. By 2013, the median was $934—a 64 percent increase..…. MORE

Anbang to close Waldorf Astoria for three years during $1B condo conversion [REAL DEAL]
Anbang Insurance Group plans to shut down the Waldorf Astoria hotel for up to three years while it converts the majority of the rooms into condominiums.The Chinese insurer, which bought the hotel for $1.95 billion from the Blackstone Group last year, will turn 1,100 rooms into condos. Hilton Worldwide, which currently operates the Waldorf Astoria, will manage the remaining 300 to 500 rooms as a smaller luxury hotel. The conversion will cost up to $1 billion..…. MORE

Landlords win battle with City Hall over water rate rebate [REAL DEAL]
Landlords won a battle with City Hall Monday over the city’s 2.1 percent water rate increase after a state judge ruled the de Blasio administration arbitrarily awarded a water rebate to select property owners.…. MORE

Merrill Lynch takes 125K sf at 75 Rockefeller Plaza [REAL DEAL]
Merrill Lynch Wealth Management is trading its Fifth Avenue digs for four floors at RXR Realty’s newly-renovated 75 Rockefeller Plaza. The investment company signed a lease for 125,000 square feet on the second through fifth floors of the 623,000-square-foot building, Commercial Observer reported. Since 1998, Merrill Lynch has roughly the same amount of space 717 Fifth, according to CoStar…. MORE

Saudi family in talks to pay $352M for Plaza [REAL DEAL]
Could the Plaza Hotel finally be getting a new owner? After a canceled foreclosure auction this spring, an unidentified member of the Saudi royal family and London-based investment firm 3 Associates are in talks to buy the iconic property for $352 million, the New York Post reported. The joint venture is also looking to buy London’s Grosvenor House for $882 million and the Dream Downtown Hotel in Chelsea for $235 million…. MORE

Manhattan inventory hits record low in February: report [REAL DEAL]
It’s hard to walk more than a block in Manhattan without stumbling across a residential condominium project in the works, but until all that spanking new product goes live, the market will continue to be defined by scarcity. The city’s condo inventory hit a record low last month with only 3,175 units on the market, according to StreetEasy’s latest Manhattan Condo Market Report. Meanwhile, pending sales rebounded in February — as is the norm after slow winter months — jumping up 27.5 percent since January. “February is typically a turning point between the declining slow season and the busy spring season,” Alan Lightfeld, a data scientist with StreetEasy, said. The condo market usually sees a boost in March …. MORE

Len Blavatnik closes on Woody Johnson’s co-op for record $77.5M [REAL DEAL]
Billionaire Len Blavatnik has officially closed on his record-breaking purchase of New York Jets owner Woody Johnson’s co-op in 834 Fifth Avenue, and while the sale remains a record, the price was just $77.5 million, rather than the $80 million previously reported. The preceding record was set by Israel Englander, with his purchase of a co-op duplex in 740 Park Avenue for $71.3 million. Since 2005, the record for priciest New York co-op has been set nine times. Blavatnik’s purchase was approved by the co-op board at …. MORE

Silverstein pays $100M for Far West Side development site [CRAIN’S]
Silverstein Properties has closed on its purchase of 514 11th Ave., a former Mercedes-Benz dealership on the far West Side, where the development firm is planning to build an ultra-tall residential tower. According to sources familiar with the deal, the company, best known for its work building office skyscrapers at the World Trade Center site, is paying more than $100 million for the site. Silverstein Properties first entered into a contract for the parcel with the luxury automaker back in 2011. Mercedes then relocated its dealership to the base of developer Two Trees’ new luxury rental building Mercedes House, between West 53rd and West 54th streets. Silverstein Properties is currently in the process of …. MORE

FiDi Affordable Housing Complex Votes to Go Private After Heated Debate [DNA INFO]
After a long and contentious debate, residents of affordable housing complex Southbridge Towers have voted to take their apartments private. More than two-thirds of those living in Southbridge — a 1,607-unit complex of several towers that sits between Pearl, Frankfort, Gold and Fulton streets — cast ballots over the past three days to turn their subsidized co-op into market-rate apartments, a decision that will likely allow residents to sell their units for upwards of $1 million. The 1,082 “yes” votes — 10 more ballots than the required two-thirds margin for privatization — came after a lengthy, heated and complicated debate at the complex. The change will enable residents who paid $10,000 or less for their apartments decades ago to sell them at market rate, reaping a large profit. “I think this is going to have a tremendously positive impact on this community,” said Wally Dimson, the president of…. MORE