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NYS Senate votes to ease new rules for title insurance

The New York State Senate unanimously passed a bill Tuesday that will allow title companies to resume buying clients coffee, taking them out for lunch or treating them to a round of golf. Sponsored by Sen. James Seward of Oneonta, the bill — which now heads to the Assembly and Gov. Andrew Cuomo — takes aim at new regulations from the Department of Financial Services that prohibit title agents and insurers from offering clients meals, […]

Fromm team leaves Town for Corcoran

Mark David Fromm and Claudia Saez Fromm — the married duo behind one of Town Residential’s biggest-name teams — have jumped to the Corcoran Group. The Saez-Fromm team, which also includes Ned Hudson, Viviane Giraldi and Sarah Jackson, will join the company’s Chelsea/Flatiron office, Corcoran said. In a statement, the Fromms said they had an “incredible” five years at Town but were looking forward to “new opportunities” and the prospect of taking their business to […]

Hamptons Cheat Sheet: Harvey Weinstein sells Amagansett mansion for $10M, part of Jackie Onassis’s childhood estate in East Hampton sells for $11.25M, … & more

Harvey Weinstein sells Amagansett mansion for $10M Disgraced movie magnate Harvey Weinstein has sold his Amagansett mansion for $10 million — a far cry from the original listing price of $17.5 million. The five-bedroom, six-and-a-half bath home sits on 1.93 acres at 50 Broadview Road, which also features 260 feet of beachfront on Gardiners Bay. Weinstein and his estranged wife Georgina Chapman de-listed the mansion in October amid the storm of allegations sexual assault allegations […]

The Sitt-down: Eddie, Ralph and David settle years-long legal feud

A family feud that may have cost the Sitt family their prime asset appears to be coming to an end. Eddie Sitt has settled a long-running legal battle with his brothers Ralph and David over control of the family’s asset. But while the brothers have made peace, it may be too late for the family’s flagship property, the 354,000-square-foot building at 2 Herald Square, which is facing a foreclosure auction as soon as February. Sitt […]

Law firm Cahill Gordon & Reindel checking out new FiDi offices

Cahill Gordon & Reindel is looking Downtown for a new office that could be as large as 250,000 square feet.  The Financial District-based law firm has toured a handful of buildings in the neighborhood with large blocks of available space such as One World Trade Center, 28 Liberty and Brookfield Place, Crain’s reported.  But it appears to be focused on the east side of the Financial District, considering deals at 32 Old Slip and 199 Water Street.  Cahill could […]

Jarmulowsky Bank Building developers looking for $79M in EB-5 money

Wanted: $78.5 million in EB-5 funding for a luxury hotel coming to the Lower East Side. DLJ Real Estate Capital Partners has teamed up with Advantage America New York Regional Center to line up the financing for its planned transformation of the Jarmulowsky Bank Building at 9 Orchard Street, according to EB-5 marketing materials found by the Lo-Down. The program offers legal residency to foreigners who invest a minimum of $500,000 in job-creating projects. The […]