150 Charles Street

Departing Credit Suisse chief snags $29M West Village pad Entity linked to Rob Shafir bought five-bedroom penthouse

They do say Manhattan real estate is the new Swiss bank account.

And it looks like Robert Shafir, Credit Suisse Group AG’s chairman of the Americas region, will be toasting his departure from the Zurich-based bank in a brand new penthouse apartment.

The爱上海同城论坛 爱上海同城 banker, once Credit Suisse上海千花网论坛 上海千花网’s highest paid board member, is linked to a an LLC that purchased a $29.38 million penthouse at 150 Charles Street, according to public records filed with the city Wednesday. The LLC lists its address as an apartment at 1930 Broadway once occupied by Shafir and his family.

Shafir announced that he was stepping down from his position at the bank i上海贵族宝贝 上海千花网龙凤论坛n April after a corporate overhaul led to his departure from the its executive board. While his next move is not clear, he’s rumored to be in discussions to team up with former Credit Suisse CEO Brady Dougan on a new venture, the Wall Street Journal reported. His salary at Credit Suisse was around $8.2 million in 2015.

The five-bedroom, five-bathroom pad is one of several penthouses sold at the West Village building, which was developed by the Witk上海千花网 爱上海同城对对碰off Group and marketed by Douglas Elliman.

A spokesperson for Elliman declined to commen上海贵族宝贝交流区 上海贵族宝贝论坛t on the sale.

Other residents of the 91-unit building include celebrities such as Jon Bon Jovi and Irina Shayk, hedgefunders and top residential brokers such as Leonard Steinberg, Jo[……]

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WeWork

WeWork takes 78K sf at Metropolitan Tower Co-working company to occupy five full floors at 142 West 57th

Metropolitan Tower at 142 West 57th Street (credit: Macklowe Properties) and a WeWork space at 135 East 57th Street

Co-working giant WeWork doesn’t appear to be slowing down, at least where leasing office space in concerned.

The company has st爱上海龙凤419桑拿 上海龙凤论坛sh1fruck a deal to take 77,930 square feet at Mi上海千花社区 上海千花网交友tsubishi Corporation and L L Holding Company s Metropolitan Tower at 142 West 57th Street, the Commercial Observer reported.

WeWork s space is slated to span the entire sixth, seventh, eighth, 10th and 11th floors at the 531,700-square-foot tower, the newspaper reported. The company will share the building with tenants like hedge fund Hutchin Hill Capital, Och-Ziff Capital Management and Fifth Third Bank.

Asking rents at the building range from the mid-$60s to the low-$80s per square foot. WeWork will be paying $70 per square foot in the 16-year deal.

In March, Mitsubishi bought a 98.6 percent stake at the property for $163 million. L L has the remaining stake.

WeWork has had a tough time of it lately. The company was valued at $16 billion as of March, but downgraded its profit projections by a staggering 78 percent earlier this上海龙凤论坛 新上海贵族宝贝论坛 year. It has also scaled back its co-living operations, due to its higher-than-expected 上海千花网 爱上海同城对对碰construction costs.

It s also managed to irritate a few neighbors 爱上海同城 爱上海at its construction at 33 Irving Place, where there have been complaints about nois[……]

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Real Estate Lawsuits

The 10 juiciest real estate lawsuits of 2016 From a Stuy Town battle to Maitland vs. Sitt, the year in litigation

From left: Wendy Maitland, Joseph Sitt, Faith Hope Consolo, Joe Aquino, Judge Judy (credit: Getty Images) and Miki Naftali

In the blood sport o新上海贵族宝贝论坛 上海贵族宝贝交流区f New York real estate, litigation is a way to bully, negotiate, and even embarrass — and 2016 didn’t disappoint.

Developers and brokers took to the courts to fight over commissions, poaching, data leaks and even to halt deals they had no part in.

As always, The Real Deal was there to document the carnage. Read on for a closer look at the juiciest cases from the last 12 months.

Stuy Town drama

Bill Ackman and Stuyvesant Town

The biggest deals rarely go down without a fight, and the $5.3 billion sale of Stuyvesant Town-Peter Cooper Village to the Blackstone Group and Ivanhoe Cambridge this year was no exception. In January, Bill Ackman s Pershing Square Capital Management and Winthrop Realty Trust slapped CWCapital, the special servicer that controlled the property, with a $500 million suit over the deal, alleging they’d been swindled out of a hefty profit on the sale. The suit was labyrinthine: The plaintiffs claimed they’d bought a portion of Stuy Town’s defaulted mezzanine debt in 2010 with a view towards foreclosing on the property, but CWCapital got the courts to block a foreclosure. That was all good until this year, when the plaintiffs alleged CWCapital, who bought the debt from them, had done exactly the same thi[……]

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WeWork

Paydirt: WeWork s f*ck-you money The industry news you need to start your week, and what’s ahead

From left: SpaceX s Elon Musk, Uber s Travis Kalanick, WeWork s Adam Neumann and Airbnb s Brian Chesky

Share office space or go to Mars?: WeWork is now part of an elite club of privately-held U.S. companies valued at over $20 billion. Its latest valuation, courtesy of a $4.4 billion investment from Softbank, puts Adam Neumann’s capitalistic kibbutz just behind Elon Musk’s SpaceX. WeWork’s new cash comes from the world s biggest tech investor, Softbank’s Vision Fund, a $93 billion behemoth backed by Saudi royal family money. The infusion allows WeWor上海千花网龙凤论坛 上海千花社区k to ramp up its Asian expansion and buy out some existing investors. It also gives Softbank two board seats.

I remember how I felt when I first heard of the $7.2 billion valuation that Anbang Insurance Group was going to work with at Kushner Company’s 666 Fifth Avenue. Incredulous doesn’t begin to describe it – the numbers had no bearing in anything I had learned covering this beat, and I could not – absent a nefarious quid-pro-quo political motive – see any reason for that deal to happen.

I’ve had that same incredulity about WeWork for its past three funding rounds. WeWork is unquestionably an impressive company, just not $160,000 a desk impressive and certainly with nowhere near the disruptive potential of the other companies – Airbnb, Uber, SpaceX, Palantir – in the $20 billion club.

On 666, turns out I was right. But WeWork s[……]

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Title Insurance

NYS Assembly weighs oversight of the title insurance industry Group says members are bracing for a 30% drop in revenue

From left: Bob Treuber, Kevin Cahill and Maria Vullo

Members of the New York State Assembly are considering ways to regulate the title industry爱上海 爱上海同城手机版 but without the kind of strict rules imposed on insurers this month by the state.

Assemblyman Kevin Cahill, chair of the Assembly s standing committee on insurance, said the committee is weighing options for restricting title companies’ marketing expenses. But the approach wou上海夜网 阿爱上海同城ld be more like “putting up guardrails,” rather than the blanket 新爱上海同城对对碰论坛 上海同城对对碰交友社区action taken by the Department of Financial Services. New regulations from DFS, which went into effect Feb. 1, ban marketing expenses like buying clients a cup of coffee, paying for meals and entertainment, or sponsoring continuing legal education classes.

Cahill said the Assembly is weighing legislation that would specify those areas of compensation that could or could not be made.

After the state Senate voted on legislation to unwind the DFS regulations, the bill was sent to the Assembly’s insurance committee.

“We want to repair the damage that’s been done by a regulation that overreaches the statutory authority granted to the agency,” Cahill said. “My goal would be to put in some reforms that would authorize the superintendent to place some restrictions on that which could be charged back to the buyer as part of a fee.” That would include marketing expenses like[……]

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Truffles Tribeca

Related buying final piece of Jack Parker apartment portfolio for $250M The developer could turn a tidy profit if it decides to convert the rental into condos

Related CEO Stephen Ross and 34 Desbrosses Street (Credit: Getty Images and Google Maps)

The Related Companies is buying a luxury apartment building in Tribeca for $250 million.

Steve Ross’ firm 上海千花网论坛 上海千花网is buying the 291-unit Truffles Tribeca building at 34 Desbrosses Street from the Jack Parker Corporation, sources told The Real Deal.

The Jack Parker Corporation developed the apartment building, which sits on a full block facing the Hudson River上海千花网论坛 上海千花网 between Vestry and Desbrosses streets, in 2009. The property consists of a pair of towers — one 11 stories and the other 15 stories — connected by a sky bridge and surrounding a private, gated courtyard.

Representatives for Related and the Jack Parker Corporation did not respond to requests for comment.

Related is likely quite familiar with the building. On the block directly to the north, the company in 2016 opened the 11-story, 84-unit luxury rental building it developed at 456 Washington Street.

And on the block immediately to the south, Related developed the Robert A.M. Stern-designed condo building at 70 Vestry Street The developer last year said it was in contract to sell a penthouse that had been asking $65 million at a price that would set a downtown record.

Truffles Tribeca has a 10-year 421a tax abatement that expires in 2021, and marketing materials show the buildin[……]

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Michael Cohen

Michael Cohen, who dabbled in real estate, sentenced to 3 years in pri上海龙凤论坛 新上海贵族宝贝论坛son The president’s former personal attorney and fixer had pleaded guilty to multiple counts, including lying about the failed Trump Tower Moscow deal

Michael Cohen arrives with his family for his sentencing hearing at United States Federal Court (Credit: Getty Images)

President Trump s former fixer Michael Cohen, who most recently pleaded guilty to lying about his involvement in the deal to bring a Trump Tower to Russia, was sentenced to three years in prison on Wednesday. During the federal court hearing in New York, Cohen apologized for his role in what he called the president s dirty deeds.

The sentencing is harshe上海千花社区 上海千花网交友r than Cohen, who implicated the President in directing hush payments to two women that claimed to have had affairs with him, had hoped for. In August, Cohen pleaded guilty to charges of tax evasion, illegal campaign contributions, bank fraud and making false statements to Congress. But he sought less jail time by virtue of his assistance in other investigations. Last week, however, prosecutors wrote that Cohen had not been上海千花网交友 上海千花网论坛 fully cooperative.

The U.S. Attorney s Office in Manhattan launched an investigation into Cohen earlier this year, and raided his offices in April after a tip from Special Counsel Robert Mueller’s office, who has been investigating the Trump campaign, focusing on potential collusi爱上海同城对对碰 爱上海同城论坛on with Russian nationals during the 2016 presidential election.

Si[……]

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