The Real Deal New York

December 2012 Cover

story index

Cover Stories

  • Players hit hardest by Sandy
  • The start-up generation
  • The modest mogul
  • 2012’s biggest money makers
  • Simone says
  • What’s ahead in 2013

New Development

Government

In Their Words

Editor's Note

December 2012
  • Players hit hardest by Sandy

    Who’s recovering, and who stands to reap the most during rebuilding
    Sandy Graphic

    It’s been more than a month since Superstorm Sandy hit NYC, but the aftermath is far from over. While much of the coverage has (rightfully) centered on the storm victims, this month TRD took a close-up look at how the storm has impacted the real estate industry — from the landlords who were hit hardest to the brokers who’ve found displaced residents new homes to the developers who are most likely to cash in on … [more]

    Comments
    • Print
  • The start-up generation

    The 40-and-under entrepreneurs who are bringing new strategies to residential real estate and shaking up the brokerage industry in the process
    Start-ups

    The entrepreneur has had something of a moment lately, with both Presidential campaigns heaping praise on small businesses in addition to self-employment looking increasingly attractive after the corporate bankruptcies and mass layoffs spurred by the economic crisis. But before you think Silicon Valley has cornered the market on entrepreneurial whiz kids, take a look closer to home: New York City real estate has seen a bevy of new residential firms in recent years. Opening a … [more]

    Comments
    • Print
  • The modest mogul

    Investor Ruby Schron could quietly become the city’s next billionaire landlord, despite eschewing glamour and a place in the spotlight
    Ruby Schron

    Ruby Schron is not the type of real estate mogul who has racks of shiny suits spilling out of his closet. Associates of the septuagenarian investor describe him as “the opposite of pretentious” and “anything but glitzy” — a man so careful with his money that he still lives in the same single-family home in Brooklyn where he raised his eight children, even as his fortune has swelled into the hundreds of millions of dollars. … [more]

    Comments
    • Print
  • 2012’s biggest money makers

    A ranking of this year’s Manhattan building sales by the highest rate of return for their sellers
    Biggest Deals

    Typically, investment sales deals are ranked by the sale price, but that emphasis hides the figure that real estate players truly care about most: how much money the deal made. Indeed, the number that real estate investors brag about at the end of the day is their return on equity. That figure reveals how effectively an investor deployed his or her money. So for the first time, this month The Real Deal ranked Manhattan’s top … [more]

    Comments
    • Print
  • Simone says

    With medical, hotel and retail projects, Bronx developer is the big fish in a small pond
    Simone Development

    In the Bronx — where interest in development is meager when compared with Manhattan and Brooklyn — one company has repeatedly wagered its capital and has become what many sources say is the borough’s most dominant developer. Simone Development Companies owns more than 100 commercial properties, many of which are in the Bronx. In the past five years, its portfolio has expanded by 1 million square feet. The firm is currently knee-deep in several of … [more]

    Comments
    • Print
  • What’s ahead in 2013

    A rundown of some of the biggest NYC real estate issues — and most impactful projects and trends — on tap for the New Year
    What's ahead in 2013

    If 2012 was the year of recovery for New York City’s real estate industry, 2013 might be the year of uncertainty. New York City real estate faces a number of unknowns heading into 2013, from post-Sandy devastation to the upcoming “fiscal cliff.” The year will also see the city’s mayoral race heat up — another subject that brings nail-biting anxiety to real estate professionals. In this end-of-the-year issue, The Real Deal looked at these and … [more]

    Comments
    • Print
  • Surveying the destruction

    Mapping out the New York area’s real estate and property damage left in Sandy’s wake

    In the weeks since Superstorm Sandy, the media has vigorously documented the devastation wrought by the hurricane and its accompanying storm surge. That destruction — which includes the outer-borough communities where families are still not back in their homes and Lower Manhattan buildings that are still empty because their mechanical systems were ruined — will cost billions to fix. This month, The Real Deal looked at some of the hardest-hit areas of the New York … [more]

    Comments
    • Print
  • Stuck in limbo

    How fiscal policy negotiations in D.C. are impacting NYC’s housing market

    Manhattan’s luxury residential real estate market will remain in limbo for the remainder of the year as speculation continues over how negotiations on the nation’s fiscal policy play out in Washington, brokers say. While some buyers and sellers are rushing to close on deals already in motion in order to avoid an inevitable rise in capital gains taxes, brokers said, consumers still considering a sale or purchase are holding off. They are waiting until Congress … [more]

    Comments
    • Print
  • Brokering after Sandy

    A look back at the post-storm fallout in Manhattan, where rentals boomed and sales slowed

    Hurricane Sandy — the worst storm to hit the Northeast U.S. in decades — sent Manhattan’s residential real estate brokers into a tailspin. In addition to lost power, water and heat at home, brokers were inundated with calls and texts from clients seeking to be relocated in the wake of the storm. The disruption in Manhattan pales in comparison, of course, to the devastation in parts of Brooklyn, Queens and Staten Island, where tens of … [more]

    Comments
    • Print
  • The international squad

    A look at go-to NYC brokers specializing in different countries around the world

    Foreign interest in New York real estate is at an all-time high, thanks in part to the continuing debt crisis in Europe and growing wealth in countries such as Brazil. But for foreigners, navigating the New York City market alone can be daunting. Instead of going it alone, international buyers often enlist New York brokers with ties to their home countries to help in their search for the perfect property. Brokers say many buyers prefer … [more]

    Comments
    • Print
MENU