Arrest warrant out for “worst landlord on this planet”; “Million Dollar Listing” star jumps to Compass … and more

THE RUNDOWN:

?? The so-called “worst landlord on this planet” is facing 60 days at Rikers. A New York court issued an arrest warrant for Daniel Ohebshalom after he failed to correct nearly 700 violations at his properties.?

?? “Million Dollar Listing” star Josh Flagg has a new employer. The longtime power agent is joining Compass from Douglas Elliman after three years with the firm.?

?? Stefan Soloviev took a break from grain farming this week to talk office leasing and East Hampton real estate, after his trophy office property hit a key leasing milestone.

?? Florida lawmakers beefed up laws surrounding homeowners associations, criminalizing kickbacks and hiding records. The move comes on the heels of a huge scandal at the Hammocks HOA.??

?? A pair of big-names — Jeff Gural’s GFP and Nathan Berman’s Metro Loft — kicked off major office-to-resi plays this week.

?? Sterling Bay has $6 billion plans for a megadevelopment at Chicago’s Lincoln Yards. First, it needed the money. Its search for capital led them to the big-hitting California firm Kayne Anderson.?

THE DETAILS:

?? A notorious New York landlord has finally pushed his luck too far

New York landlords regularly rack up hundreds of violations at their properties. But few have ever been arrested for it. Daniel Ohebshalom is a rare exception.?

• Ohebshalom made the city’s Worst Landlords Watchlist for his mismanagement of a pair of Washington Heights buildings.?
• His violations at the property tallied at over 700. The city issued an arrest warrant this week after he failed to resolve those violations despite numerous extensions.?
• The landlord is facing up to 60 days on Rikers Island.

?? A “Million Dollar Listing” star has found a new home

Star agent Josh Flagg, who was part of the original “Million Dollar Listing” cast, is jumping ship from Douglas Elliman to Compass.?

• Flagg closed more than $3 billion in residential deals in the past decade, including the sale of Rihanna’s $10.3 million Beverly Hills home.
• The broker joined Douglas Elliman in 2021. He’ll bring more than $400 million worth of listings with him to Compass.?

?? 25 minutes with the enigmatic Stefan Soloviev

Stefan Soloviev may be most comfortable talking Midwest farming, but he’s got a lot to say about real estate, too.?

• Soloviev’s 9 West 57th Street hit “full occupancy” this month with a lease. “It’s the most valuable available commercial real estate in New York City right now,” he said.

He also talked about East Hamptons and North Fork real estate, and his plans for the area.?

• “We’ll build a couple homes, nothing major,” he said. “Anything we build will be a reflection of the Soloviev Group — tasteful.”

?? Florida lawmakers responded to the Hammocks HOA controversy this week

Legislators made kickbacks and hiding records a third-degree felony. The move is a “direct response” to the Hammocks scandal that erupted in 2022.?

• Hammocks HOA is among the largest in the country, with 18,000 residents.?
• Five board members of the HOA were arrested. An investigation uncovered the group diverted at least $4 million of HOA funds to themselves.

This state’s House and Senate passed two condo and homeowners associations bills during the recent session, and will become law with Gov. Ron DeSantis’ signature.?

?? GFP and Metro Loft are familiar with office-to-residential conversions

The pair are collaborating at 25 Water Street, where they’re planning the largest conversion in the city. Now, the two are looking at similar projects, but they won’t be working on them together.?

Metro Loft is planning a Midtown conversion that will dwarf 25 Water Street.?

• Berman is planning to build about 1,500 units in the buildings at 219-235 East 42nd Street.

Gural’s play is at 222 Broadway in the Financial District.

• GFP paid $150 million for the building, a far cry from the $500 million the seller, Deutsche Bank, paid for it in 2014.
• The firm is planning between 600 and 800 apartments at the property.?

?? Kayne Anderson eyes Lincoln Yards amid Sterling Bay’s hunt for capital

Sterling Bay’s Chicago megaproject looked all but doomed when its financial backers ditched. But the development may have found new life via L.A.-based Kayne Anderson

• The $6 billion project would span 14 million square feet, mostly office and laboratory space. It’s also set to include up to 6,000 residential units.
• J.P. Morgan Asset Management and Dallas-based Lone Star Funds backed out of the project years ago, setting off Sterling Bay’s search for financing in a tough lending environment.?
• Developer Darren Sloniger connected the two parties. It’s still unclear how closely involved Kayne Anderson will be in the project.?

THE CLOSE: Will Ohebshalom’s arrest finally inspire the landlord to resolve the issues at his properties? Keep reading TheRealDeal.com to find out.