Upside Ventures and Warburg Realty have joined the ranks of New York brokerages which are restructuring their businesses in the midst of the economic downturn. Upside Ventures has closed its residential brokerage, Upside Residential, for the foreseeable future, according to Ralph Trionfo, the company’s president, while Warburg has announced it will shutter its office at 65 West 13th Street. The news comes in the wake of several similar announcements last week, as brokerages face a severe slowdown in real estate transactions due largely to this fall’s Wall Street meltdown. The Real Deal reported that Homestead New York is closing up shop, while rental giant Citi Habitats has closed two of its more than 10 offices. [more]