NYC Is Finally Getting its Own Regional MLS

September 26, 2018

The Multiple Listing Service of Long Island (MLSLI) and Hudson Gateway Multiple Listing Service have just merged, creating a regional multiple listing service (MLS) called New York MLS.

The new service will consist of about 40,000 real estate professionals in New York City boroughs Queens, Brooklyn, Manhattan and the Bronx, along with Westchester, Nassau, Suffolk, Putnam, Rockland, Sullivan and Orange counties.

Discussions of a consolidation began back in June 2017, and the service is expected to be fully operational some time next year.

“With the alliance of two successful MLSs, members gain entry to a vast selection of integrated technology tools and resources, which will better serve their buyers and sellers,” said Jim Speer, senior vice president of operations for MLSLI, who will be the CEO of the new MLS.

The new platform aims to be a one-stop-shop for all regional real estate needs. Its surprising that despite the volume of the NYC market, its residential firms have never shared a central listing service.

The SHoP-Designed Billionaires' Row Condo 111 West 57th Street Launches Sales

September 17, 2018

111 West 57th Street, JDS, Property Markets Group (PMG) and Spruce Capital's skinny SHoP Architects-designed supertall which is now rising on Billionaires' Row, has officially launched sales. Sales and marketing are being exclusively overseen by Douglas Elliman Development Marketing.

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Gamma Real Estate's 800' Foster + Partners-Designed Tower 3 Sutton Place Finally Approved in Midtown East

June 27, 2018

Gamma Real Estate' 800' 3 Sutton Place residential tower designed by architect Foster + Partners has now been approved by the Board of Standards and Appeals and construction can restart after the developers were forced to seek rezoning to complete the project.

Corcoran Sues JDS & PMG Over Breach of Contract At SHoP-Designed Billionaires' Row Condo 111 West 57th Street

Corcoran Sues JDS & PMG Over Breach of Contract At The SHoP-Designed Billionaires' Row Condo 111 West 57th Street

June 24, 2018

There is more drama at 111 West 57th Street, JDS and Property Markets Group's skinny SHoP Architects-designed supertall which is now rising on Billionaires' Row. Corcoran Sunshine Marketing Group, who was originally hired as the firm to lead pre-construction sales, has now sued the development team for breach of contract.

Upper West Side Developers Fined for False Vacancy Claims

June 12, 2018

Two developers, Cenpark Realty and the Brodsky Organization, have been fined a combined $90,000 by the city for claiming false vacancy in their buildings during renovation. Property owners of occupied buildings are supposed to protect residents from the ramifications of construction, like dust and noise, by submitting a tenant protection plan.

Former Anbang Chairman Wu Xiaohui Sentenced To 18 Years For $12 Billion Fraud

May 10, 2018

Wu Xiaohui, the former Anbang Insurance Group chairman and one of Manhattan's most prolific real estate investors, has been sentenced to 18 years in jail in addition to a $1.65 billion asset seizure after being convicted by Chinese authorities for fraud and embezzlement.

Linda Macklowe Walks Away From Her 78th-Floor 432 Park Avenue Pad That Has Been The Center of Controversy

December 27, 2017

Last week PROFILEnyc reported that Judge David Cohen had granted a preliminary injunction giving Linda Macklowe 60 days to decide to close or walk from her 432 Park Avenue 78th floor pad in which she held via deposit .

Development & Divorce: Inside The Continued Macklowe Drama At 432 Park

December 21, 2017

Linda Macklowe, the estranged wife of Harry Macklowe, the developer behind Macklowe Properties and 432 Park, have battled over a $2 billion divorce largely in the public eye since Linda filed in June 2016. In September 2017, Linda sued both Macklowe Properties and CIM Group.