Real Estate News

Stephen Siegel wins top honors from CBRE

Stephen Siegel

With 2.5 million square feet in transactions under his belt, Stephen Siegel was CB Richard Ellis’ top-producing sales professional for 2009, the firm announced today. Siegel’s key transactions last year included a 202,495-square-foot lease at 1633 Broadway, where he represented television network Showtime, a 292,391-square-foot lease at 1230 Avenue of the Americas for publishing giant Simon & Schuster and a 223,424-square-foot deal at 180 Maiden Lane, which he arranged for law firm Stroock & Stroock & Lavan. "In as challenging an environment as has existed in his long career, over the last year, Steve was continually sought out by our firm's largest clients seeking the benefit of his experience and wisdom," Mitchell Rudin, president and CEO of CBRE’s New York Tri-State Region, said in a statement. TRD

Toy guru slumming it with Madoff pad?

Bernard Madoff and his former penthouse apartment at 133 East 64th Street

The $8.9 million home formerly owned by Bernard Madoff is chump change for toy executive Al Kahn, compared to the home he has just listed. The children’s entertainment juggernaut responsible for toys like the Cabbage Patch Kids and Pokemon has put his 4,350-square-foot condo in the Time Warner Center at 25 Columbus Circle on the market for $33.6 million, following his purchase of the infamous 4,000-square-foot Madoff duplex at the corner of Lexington Avenue and 64th Street, which went into contract earlier this month. Time Warner Center mainstays Elizabeth Lee Sample and Brenda Powers of Brown Harris Stevens have the listing.

Priciest Sag Harbor waterfront summer rentals revealed

Curbed Hamptons has released its list of the top priciest waterfront Sag Harbor summer rental homes, for those who crave extra aquatic convenience with their temporary abodes. The top priciest rental for Memorial Day through Labor Day is a $395,000-per-summer pad nicknamed “the Big Whale.” The second priciest rental clocked in at $350,000, while three listings tied for third place, costing $225,000 for the summer, respectively. See slide show above for the rest complete list.

Third-largest controlled implosion in the U.S. scheduled for Sunday in West Palm Beach

From the South Florida Web site: This Sunday at 9 a.m., a longstanding West Palm Beach eyesore at 1515 Flagler Drive is scheduled to be destroyed by a controlled implosion. The destruction of the 30-story, hurricane damaged, uninhabited condo tower is expected to take 6.5 seconds, making it the third-tallest building in the United States to be demolished in this way. For those wondering what that will look like, the video above, which shows the controlled implosion of five Florida buildings, should provide a frightening, yet visually-stimulating preview.

Moody's reports first monthly commercial property price increase since Sept. 2008, Joe Sitt backtracks ... and more

1. Moody’s reports 1 percent month-over-month commercial property price increase for first time since September 2008 [CRE Console]
2. Paterson admits AEG not first choice for Aqueduct [NYDN]
3. Nouriel Roubini balks at “Dr. Doom” nickname, voters pick “Roubini the Realist” as new moniker for the famed economist [CNBC]
4. Lower East Side co-op installs hourly car rental program to combat parking congestion [NYT]
5. Tribeca residents protest installation of proposed sanitation garage [DNAinfo]
6. Joe Sitt backtracks on NYU Red Hook housing claims [Curbed]
7. First Catholic school in NYC set to shutter [NYDN]
8. A look inside MTA tunneling effort to create LIRR hub [WNYC]
9. Former State Assembly member Anthony Seminerio sentenced to six years in prison [NYT]
10. In wake of Cuomo’s pursuit, tenants announce they’ll sue Vantage Properties, too [NYDN]
11. State Assembly speaker Sheldon Silver rails against Aqueduct pick [Post]
12. World’s first seven-star hotel built in Dubai [NYMag]
13. NYC cupcake phenom Magnolia opens Dubai outpost [NYT]
14. Floor plans for new Pulino restaurant revealed [NBC]
15. Kelsey Grammer apartment hunts in Manhattan [Post]
16. Home decoration: simple, and on a budget [NYT]