Warren Buffett pays $130M to buy Brookfield out of brokerage

Warren Buffett’s Berkshire Hathaway has paid $130 million to buy out Brookfield Asset Management’s stake in the conglomerate’s fast-growing real estate brokerage. Berkshire exercised its option to acquire the Toronto-based private equity firm’s one-third stake in Berkshire Hathaway HomeServices in February, Brookfield disclosed during an earnings call Monday. The deal closed last month. “We like[…]

Compass in talks for Town’s Flatiron flagship

Compass is in late-stage talks to take over Town Residential’s 16,600-square-foot flagship in the Flatiron district, sources said. The venture-backed firm, which recently expanded at 90 Fifth Avenue, is looking to take as much as 49,800 square feet over three floors at 110 Fifth Avenue. Town’s full-floor office — its first outpost when it launched[…]

Toll Brothers eyes $324M sellout at 77 Charlton

Toll Brothers City Living is aiming to sell $323.5 million worth of apartments at 77 Charlton Street, its forthcoming condominium project in Hudson Square. The luxury homebuilder officially filed plans for a 161-unit development with the New York state Attorney General’s office, records show. The average price per unit works out to just over $2[…]

Here’s how much money Howard Lorber made in 2017

Douglas Elliman chief Howard Lorber earned $10.6 million last year — a modest drop following a year in which the residential brokerage struggled with profitability. Lorber’s haul included a base salary of $3.198 million, plus a $3.157 million bonus. His total compensation dropped $425,000 from 2016, when he pocketed $11.059 million, according to a proxy[…]