Placester, tech platform for real estate professionals, slashes staff amid shakeup

Real estate tech platform Placester, which was valued at $200 million last year, has laid off more than 100 employees in a companywide restructuring that will return it to “development mode.” Changes at the Boston-based firm that provides mobile services to real estate professionals, included its top executive. Its original CEO and co-founder Matt Barba[…]

REBNY to hike dues 20% for commercial brokers and property owners

The Real Estate Board of New York will raise dues on commercial brokers and property owners by 20 percent next year, sources told The Real Deal. REBNY’s executive committee voted in mid-November to increase dues on its commercial-brokerage and owners-and-builders divisions starting in 2019, according to a record of the meeting. Sources told TRD that[…]

Normandy, Drake Street refi LIC warehouse-to-office conversion with $75M Deutsche loan

Normandy Real Estate Partners is moving ahead with the next phase of one of its warehouse-to-office redevelopments in Long Island City, where investors are looking to cash in on the spillover effect from Amazon’s planned move to the neighborhood. Normandy, along with co-investor Drake Street Partners, scooped up a $75 million loan from Deutsche Bank[…]

Heatherwood plans another luxury rental project in Williamsburg

A seven story luxury rental apartment building is planned for Williamsburg, offering more inventory to the area that will be ready after the L train reopens (hopefully) in 2020. Heatherwood Luxury Rentals is behind the 104,000-square-foot project at 134 Hope Street, which would contain 100 residential units, according to city Department of Buildings filings. Heatherwood[…]