As Manhattan's real estate market slogs through the economic downturn, brokers continue to report a slight uptick in activity from the doldrums of October, November and December. But while enterprising brokers are ushering some deals into contract, it's clear that much of the activity has failed to translate into sales. More
The Real Deal commissioned custom data on past sales from PropertyShark.com and on current listings from StreetEasy.com to gauge which markets have already seen a decline, how far off the current listing prices are from recent quarters and which areas are seeing the most price cuts. More
Under increasing pressure to maintain income in commercial buildings as vacancies increase, office landlords are beginning to negotiate temporary cuts to tenants' rents below levels spelled out in the leases, in order to help cash-strapped firms stay in business. More
The defining architectural charm of New York City is the clamorous diversity of its buildings, which don't play very well together. But as the new Standard Hotel rises above the mostly low-lying structures of the Meatpacking District, at 848 Washington Street, its single-minded ambition seems to be to stomp them out of existence. More
No one is actually announcing a borough-wide "fire sale." But with hundreds of listings slashed by price cuts exceeding 20 percent, one could be excused for thinking there was a giant clearance tag on the island of Manhattan. In this issue, The Real Deal examines price cuts by neighborhood -- and how far experts think prices still need to fall. More
Architect Emery Roth's two most ambitious projects, the Beresford and the San Remo, both on Central Park West, were built during an economic meltdown much like the one the city is experiencing today. More
The swooning economy is putting a time-honored hotel industry argument -- that slashing room rates does not actually boost revenues -- to a high-stakes test. If the notion is right, then the rampant price cuts now under way will only drag down revenue and profits further, putting some hotels under severe financial strain. More
Manhattan buyers' criteria have changed drastically and the new buzzword is "bargain." Home seekers are now just as intent on price cuts as they once were on floor-to-ceiling windows and Sub-Zero refrigerators. This month, The Real Deal takes a look at the new emphasis on value. A number of top brokers, including the three pictured above, are fighting stalling sales with eyebrow-raising price cuts. In the face of falling prices, auctions of new condo units -- a phenomenon virtually unheard of in New York City for nearly two decades -- are likely to gain a toehold here in the coming months. And, in a turnabout, the low end of the market is actually faring far better than the high end, prompting many brokers to shift gears and refocus on cheaper apartments. More
Otherwise known as the acquisitions executives for large real estate development companies in New York, they were the ones snapping up properties like baubles during the real estate boom. More
Billionaire developer Stephen Ross, the CEO and founder of the Related Companies, has a number of successful projects in the works in New York, including Superior Ink on the far West Side. But he is now facing a major test with the embattled Hudson Yards site, and with other projects -- both here and elsewhere. More
Senior vice president and director of the exclusive properties division of the Corcoran Group. A specialist in high-end properties, Baum has sold more than a billion dollars of real estate in some of New York's most exclusive co-ops since she joined the Corcoran Group in 1991. In March, Baum sold a 12-room Park Avenue co-op for $12 million to Holly Speyer Lipton, the daughter of mega-developer Jerry Speyer. Currently, her listings include a 14-room duplex at 998 Fifth Avenue priced at $25 million, and a $13 million five-bedroom co-op at 888 Park Avenue. More
Manhattan co-op boards -- already known for their demanding requirements -- have in many cases reacted to the economic crisis by becoming stricter than ever before. As a result, some real estate observers say board members are lowering the value of their own homes. More
The consumer-spending drought and rising tide of retail bankruptcies are creating a boom in business for companies handling retail lease dispositions, dealing with thousands of square feet of space that once-hot chains no longer need or want. More
In boom times, it was common for twentysomethings to blow half their paychecks on rent in desirable buildings. But in this faltering economy, what happens when one roommate's high-paying job disappears, and with it the paycheck for his or her portion of the rent? More
As the economy careens off course and banks foreclose on developers who miss loan payments, a groundswell of new vulture funds are raising billions of dollars to acquire distressed debt and assets, or stabilized properties in need of new capital. This month, The Real Deal takes a behind-the-scenes look at three would-be investors of varying sizes to find out how they're faring in the current climate. More
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| Young Jewish Professionals RE | |
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| The Closings | |
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| Save Fashion Party April 2009 | |
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| Core Party April 2009 | |
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| TRD Forum 2008 | |
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| TRD Holiday Party 2008 | |
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