Related makes $80M stock buy in Trump Organization’s second-largest lender

Related Companies purchased $80 million of stock in Ladder Capital, a small Manhattan real estate investment trust best known for issuing more than $250 million in loans to the Trump Organization. Related bought the stock from pre-IPO shareholders of Ladder and the investment was made through “Related Real Estate Fund II,” the company’s opportunity fund[…]

New Jersey makes move toward regulating Airbnb

New Jersey took one step further Monday toward allowing the state’s municipalities to regulate Airbnb and other similar short-term rental apps. The state Assembly’s Tourism, Gaming and the Arts Committee voted 7-0 in favor of a bill that would allow local governments to ban property owners from renting their primary residences out for a period of 30[…]

Sales at Forest City-Greenland’s 550 Vanderbilt slow down

Sales at Forest City Ratner and Greenland Group’s Prospect Heights condominium development 550 Vanderbilt have slowed considerably in recent months, which developers attributed to a weakening condo market. The joint-venture partners have sold 167 units as of late January, Forest City executives said during an earnings call Monday morning — meaning they sold 27 units in[…]

Trevor Noah nabs $10M duplex in Stella Tower

From Luxury Listings NYC: LLNYC cover star and “The Daily Show” host Trevor Noah has just reportedly bagged himself a $10 million duplex penthouse at Stella Tower in Hell’s Kitchen. The three bedroom spread on the 17th and 18th floors of the restored building was initially seeking almost $13 million, but was most recently asking a little under $11.5[…]