Ashkenazy buys AMC theater for $53M

Ashkenazy Acquisition Corporation bought a movie theater on the Upper West side for $53 million, after the Bromley Companies attempted to block the sale. The Midtown-based firm purchased 2318 Broadway from American Multi-Cinema, according to court documents and a source with knowledge of the sale. As part of the deal, AMC movie theater will lease[…]

Building in the shadows: 3.2M sf of new construction being built with this permit

Among the many skyscrapers sprouting up along “Billionaires’ Row,” there is one that’s technically not a new building at all. JDS Development Group and Property Markets Group’s skinny condo project at 111 West 57th Street is classified as an alteration of the Steinway Hall building – an alteration that adds 300,000 square feet in floor[…]

Avery Hall Investments files plans for Brooklyn resi tower

Avery Hall Investments filed plans to build a 204,000-square-foot residential building at One Boerum Place in Downtown Brooklyn, according to data from the Department of Buildings. The 21-story building will have 122 residential units, according to the filing, which was “pre-filed” on May 2. Midtown South-based Avery Hall and partners Allergra Holdings and Aria Development[…]

Simon Baron, Quadrum bet that LIC co-living project will disrupt rental industry

How does a developer increase rental income while reducing rental costs for renters? The answer, apparently, is to hope tenants don’t mind cramming into smaller spaces so long as there’s a pool, dog spa and a golf simulator in the building. Simon Baron Development and Quadrum Global’s new 43-story, 467-unit rental building at 29-22 Northern[…]

Zillow’s new initiative could change what it means to be a broker. Are brokers worried?

With Zillow’s expansion of its “Instant Offers” program and its declaration that it would become a direct player in the market by buying and selling homes, brokers across the country took stock of what that might mean for them. The real estate listings giant, which has a market capitalization of around $10 billion, said it[…]