The Real Deal New York

July 2013 Cover

story index

Cover Stories

July 2013
  • What does Donald Trump really own?

    TRD takes an exhaustive look at the mogul's global assets
    Donald Trump

    In the peach- and white-veined marble lobby of Trump Tower on Fifth Avenue, tourists can shop for items from Donald Trump’s clothing line and buy his best-selling book, “Trump: the Art of the Deal.” In the Trump Organization’s offices on the 26th floor, the walls are decorated with images of “The Apprentice” star on the covers of magazines, from Esquire to Playboy. And at the top of the building lies Trump’s personal residence, a gold- … [more]

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  • Elliman ranked No. 1 largest Hamptons residential firm

    TRD’s annual rundown of the East End's biggest residential brokerages
    Hamptons brokers

    With interest rates still low for now and the economy recovering, residential real estate firms on the East End of Long Island are seeing a growth spurt. The market for second homes struggled for several years after the 2008 financial crisis, and the vacation communities on the East End along with it. Now, however, East End real estate firms are adding to their agent ranks, opening new offices and expanding into uncharted territory. This year, … [more]

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  • Haim Chera

    Records are set — and broken — all the time, for all sorts of things. Temperatures. Speed. Distances. It’s no different in real estate. Usually, it’s prices that topple, a key sign of a hot market. And that certainly has been the case this year in New York City. On the residential side, $100 million is now the yardstick. Every few weeks, it seems, another extravagant apartment is listed for nine figures. The commercial world … [more]

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  • Aaron Jungreis

    In Bedford-Stuyvesant on a Monday morning, broker Aaron Jungreis is taking stock of a 20-unit apartment building, part of a 12-building, $40 million Brooklyn portfolio he had just been hired to sell. “It’s a little dirtier than I expected,” said Jungreis, founder of Rosewood Realty Group, noting trash outside the building, which he will mention to the seller. “Did you see that cigarette butt?” To prepare a building for sale, he said: “You want it … [more]

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  • Amid the still-frenzied seller’s market, a curve ball has been thrown into the mix: Mortgage interest rates are again on the rise. During the week of June 21, interest on a 30-year fixed-rate mortgage jumped to 4.46 percent, the highest since August 2011, and 15-year fixed-rate mortgages hit 3.55 percent, the highest since November 2011. The sudden changes are infusing the New York market with a sense of urgency, brokers and mortgage professionals said. “Last … [more]

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  • One Hyde Park

    Jaws dropped when a triplex penthouse at the Pierre Hotel hit the market for $125 million, the highest-ever asking price for a New York City home. But believe it or not, that’s nothing compared to trophy home prices in cities like Monaco, London and Hong Kong, which are also setting new records for residential real estate. The current record-holder for the world’s highest total sale price is billionaire Rinat Akhmetov’s 2011 purchase of a penthouse … [more]

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  • When Douglas Elliman brokers Raphael De Niro and Victoria Logvinsky put a Midtown Manhattan penthouse on the market for a record-high $100 million last July, “my name went around the world in the course of weeks,” De Niro told The Real Deal last month. That’s true despite the fact that the property lingered on the market, and in fact still hasn’t sold. (See “The $90 million club”) In the wildly expensive world of New York … [more]

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  • Pierre Hotel penthouse

    Ever since financier Sandy Weill’s apartment at 15 Central Park West hit the market — and quickly sold — for a record-breaking $88 million in December 2011, a $90 million New York City listing no longer comes as a shock. In fact, some eight New York City homes in the $90 million-plus range are now on the market or in contract. “What the 15 Central Park West sale did was catapult the market into uncharted … [more]

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  • In a cordoned-off area of leafy Madison Square Park last month, Douglas Elliman Chairman Howard Lorber mingled with brokers and posed for photographs with company CEO Dottie Herman and Susan De França, head of the firm’s new development division. The Elliman bigwigs were there to celebrate the launch of sales at 10 Madison Square West, a new condo conversion being marketed by the firm’s new development division. Lorber’s Florida-based Vector Group is also an investor … [more]

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  • Day in the life of: Frederick Peters

    Warburg Realty president talks about hand-picking the firm’s agents and his obsessive cleaning habit

    7 a.m. I wake up naturally at seven. Then I lie in bed and gather my thoughts for a while. Next, I am sad to admit, I get on the computer and start doing email. And I have my pajamas on, because at this point the kids are grown, and there is nobody in the apartment except for me and my wife, Alexandra. 8:30 a.m. I usually walk to the office across Central Park from … [more]

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