Commercial Real Estate Reporter, Wall Street Journal
Wall Street Journal reporter, covering commercial real estate and real estate investors nationwide, occasional food writer, author of Biography of the Dollar
online.wsj.com — During the real-estate boom years in Manhattan, Michael Shvo was the most visible of the go-go brokers, a brash 30-something squiring customers in his limousine, a cellphone in each ear, hosting celebrity parties and creating ever-more extravagant sales campaigns for new condominiums. But five years ago as the condo boom slowed down, Mr. Shvo shrank his business and eventually disappeared from the New York real-estate scene.
blogs.wsj.com — By Juliet Chung and Alyssa Abkowitz A group led by billionaire hedge-fund manager William Ackman is the mystery buyer behind the penthouse apartment in Manhattan that is in contract to sell for more than $90 million, according to people with knowledge of the deal.
blogs.wsj.com — By Craig Karmin Stakeholders in the private company that owns the Empire State Building are on the verge of approving a sweeping proposal to sell the historic building to the public as part of a real estate investment trust.
blogs.wsj.com — By Craig Karmin Blackstone Group is selling its interests in 30 shopping centers to real estate investment trust DDR Corp. for $1.46 billion, resulting in a quick profit for the private equity giant. Last June, a joint venture between Blackstone and DDR acquired those shopping centers and 14 others in a deal that valued the 44 properties at $1.43 billion, including debt.
nypost.com — FREE RANGE LE PHILOSOPHE55 Bond St. 212-388-0038 There's life in the old bistro yet. Cramped, crazy-busy Le Philosophe shows how to make leaf-eating scenesters fall for duck à l'orange and lobster thermidor: lighten them just a little, and make the place look more like new Brooklyn than old Paris.
online.wsj.com — New York landlords Aby Rosen and Michael Fuchs have taken full ownership of the classic Seagram Building in Manhattan after paying off various other stakeholders. The partners, whose firm is RFR Holdings, borrowed about $1 billion to refinance their debt on the building, according to filings for a securitization of the loan.
online.wsj.com — The apartment sector's biggest mystery these days: What will Lehman do? Earlier this year, the estate of Lehman Brothers Holdings Inc. sold apartment-building owner Archstone to competitors Equity Residential and AvalonBay Communities Inc. As part of the deal, Lehman got about 10% stakes in the two firms, currently valued at about $4 billion, which it had to hold for 150 days.
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