Upper East Side condo project at former Papaya King site secures $73M loan

CrainsNewYork.com (Real Estate) 8/25 6:50A Eddie Small

The plan to turn a longtime Papaya King site on the Upper East Side into luxury condos just got a $73 million boost. Busy developer ZD Jasper has secured the $73 million construction loan for its project at 171 E. 86th St. from real estate...

Industry City honcho picks up Carnegie Hill co-op for $8.5 million

CrainsNewYork.com (Real Estate) 8/22 8:27A C. J. Hughes

An executive with the ownership group behind Industry City has snagged a co-op on Carnegie Hill. Frank Stadelmaier, the chief operating officer of TPG Angelo Gordon, and his wife, Allison, have purchased a five-bedroom co-op on Park Avenue for...

Brooklyn developer planning pair of Manhattan condo projects

CrainsNewYork.com (Real Estate) 8/21 12:33A Eddie Small

A Gravesend-based developer is planning to bring a pair of new luxury condo projects to Manhattan, including one that would rise on the site of the former Upper East Side carriage house of a JPMorgan executive from the early 20th century. The...

Memorial Sloan Kettering falls into the red amid electronic health record rollout

CrainsNewYork.com (Real Estate) 8/19 12:33A Amanda D Ambrosio

Cancer hospital Memorial Sloan Kettering dipped into the red last quarter as its new electronic health record platform caused costs to skyrocket, its latest financial statement shows. The Upper East Side-based oncology center lost $44 million...

JPMorgan, GoldenTree fund purchase of Fifth Avenue tower

CrainsNewYork.com (Real Estate) 8/15 7:06A Natalie Wong, Bloomberg

JPMorgan Chase and GoldenTree Asset Management loaned $675 million to real estate developer Naftali Group for its purchase of a luxury Manhattan apartment building, according to people with the knowledge of the matter. The financing helped...

City Council gives its final OK so Lenox Hill Hospital can build new tower

CrainsNewYork.com (Real Estate) 8/14 11:49A Ethan Geringer-Sameth

The New York City Council on Thursday approved a rezoning of part of the Upper East Side to allow Northwell Health to build a new hospital tower, closing a bruising land-use saga that saw the health system shrink the building in exchange for key...

Rental property CEO unloads Upper East Side duplex for roughly $7M

CrainsNewYork.com (Real Estate) 8/14 10:42A C. J. Hughes

A landlord known for low-slung rental buildings has said goodbye to his lofty co-op. Jason Pantzer, the co-CEO of Midtown-based Pantzer Properties, which owns 4-story apartment complexes along the East Coast, and his wife, Tricia, a lawyer, have...

NYU Langone continues Long Island cardiac expansion with new lab plans

CrainsNewYork.com (Real Estate) 8/13 12:33A Ethan Geringer-Sameth

As the population ages on Long Island, health systems are seeing higher demand for cardiac services and expanding accordingly. The latest is NYU Langone, whose flagship Long Island hospital in Mineola has seen an uptick in patient volumes over...

As SoHo retail space wanes, high-end brands head to the Upper East Side

CrainsNewYork.com (Real Estate) 8/11 12:33A Julianne Cuba

Luxury retailers are expanding into Upper Manhattan as increased leasing activity in quintessential shopping corridors such as SoHo and the West Village in the last six months has nearly exhausted the available space downtown, according to a...

NJ firm to acquire Morton Williams grocery chain

CrainsNewYork.com (Real Estate) 8/7 12:05P Julianne Cuba

A quintessential, family-owned New York supermarket chain will be scooped up by New Jersey-based Wakefern Food Corp., the new owners announced Thursday. The sale price was not disclosed. Wakefern Food Corp., founded in 1946 as a small, local...

City buildings would be vulnerable in the rare event of a moderate earthquake

CrainsNewYork.com (Real Estate) 8/7 10:41A Caroline Spivack

The two small earthquakes that hit New Jersey this week may have rattled the region’s nerves but resulted in no reported damage. Damaging earthquakes are very rare in the New York City region, though engineering and seismic experts say that it...

Plan to transform Fifth Avenue mansion into private club comes into focus

CrainsNewYork.com (Real Estate) 8/7 10:23A Julianne Cuba

The plan to transform a landmarked Gilded Age mansion on the Upper East Side into a private members-only club now has an official framework, records show. Howard Corney, who appears to be affiliated with U.K.-based firm Thornham Residential...

Prep schools build real estate empires in quest to grow enrollment

CrainsNewYork.com (Real Estate) 8/7 12:33A C. J. Hughes, Julianne Cuba

The city’s most elite schools are branching out from reading, writing and arithmetic and into real estate. In a quest to attract more students, prestigious private schools in Manhattan and Brooklyn, including Spence, Browning and Berkeley...

Northwell’s $2B Lenox Hill expansion heads for key vote

CrainsNewYork.com (Real Estate) 8/6 12:33A Amanda D Ambrosio, Nick Garber

Northwell’s plan to build a new medical tower at Lenox Hill Hospital on the Upper East Side is headed for a key vote on Wednesday that will determine whether the project moves forward. The proposed expansion , which is expected to cost more than...

Cashmere chief seeks a cozy $29 million for Fifth Avenue penthouse

CrainsNewYork.com (Real Estate) 8/4 8:45A C. J. Hughes

A former cashmere exec is looking for the right fit for his Central Park pad. Pier Luigi Guerci, the former president and CEO of Italian luxury wool purveyor Loro Piana, has listed his penthouse condo at Fifth Avenue and East 80th Street for $29...