Thou shalt not default

The landlord at the World Trade Center Mall, the altar to consumerism clad in Santiago Calatrava’s white marble, is accusing one of its tenants of being a heretic. Westfield Corp. is suing the casual clothing company True Religion, seeking more than $6.5 million after the Los Angeles-based retailer failed to take possession of its space[…]

Slate, Adam America buy Park Slope site with plans for 130-unit rental

Slate Property Group and Adam America Real Estate picked up a Park Slope development site for north of $25 million, with plans for a ground-up, 12-story rental building, sources told The Real Deal. The Midtown East-based developers, frequent partners on new condominium and rental properties in Brooklyn, closed Thursday on the purchase for roughly $200 per buildable square[…]

DOB to roll out electronic filing

The New York City Department of Buildings will roll out a $29.7 million computer system at the end of the month to ultimately replace paper-based filing. Under the current system, the department largely processes job filings, building inspections and complaints through paper forms and often in person. The new system would digitize the entire process[…]

Channeling scofflaw Trump, land use chair says it’s time to make public spaces great again

Amid backlash over the (metaphorical) wall Donald Trump has built around the public atrium at Trump Tower, the City Council proposed a bill that would provide further oversight over the city’s publicly owned private spaces. The move comes after the Council approved a proposal to allow landlords on Water Street to convert the spaces –[…]

Sherwood Equities nabs Moinian’s head of acquisitions

Sherwood Equities hired Jonathan Snider as its new vice president of acquisitions and development, the firm announced Thursday. Snider joins the firm from the Moinian Group, where he was responsible for acquisitions. Snider will oversee Sherwood’s expansion in New York. The firm owns several New York properties – including One and Two Times Square, The Saratoga at[…]

Waterbridge, partners file for Ch. 11 on stalled Soho development

The developers of a stalled Soho condominium at the former home of the Beastie Boys’ Adam Horovitz have filed for Chapter 11 bankruptcy. A partnership between Stéphane Boivin and Stéphane Bibeau’s Nordica Soho and Joel Schreiber’s Waterbridge Capital owe creditors roughly $26 million, according to the June 27 bankruptcy filing. Boivin and Bibeau acquired neighboring row[…]

Topaz Realty pays $22M Madison Realty Capital’s W’burg rental

Topaz Realty Management is the buyer of Madison Realty Capital’s $22.4 million rental building in South Williamsburg. Madison, led by Josh Zegen and Brian Shatz, sold the 35-unit, 22,800-square-foot building at 265-267 South 2nd Street, the Commercial Observer reported Wednesday. Property records filed with the city Thursday reveal the buyer to be Topaz Realty, a Union Square-based[…]