The Real Deal New York

June 2014 Issues

Big Hamptons brokerages beef up

A ranking of the largest East End firms reveals that companies are adding agents to capitalize on active market

As spring turns to summer, and East End sales prices and activity increase like traffic on Route 27, the Hamptons’ top residential brokerages are making sure that they’re along for the ride. Building on their gains from last year, these firms continue to pad their ranks with new agents, to a degree not seen in years. In fact, nine of the 10 largest firms added agents in 2014, according to … [more]

Real estate’s highest paid lawyers

Who charges the most per hour, and when does it make sense to shell out for them?

When the $1.1 billion sale of the Sony Building at 550 Madison Avenue closed last year, a slew of lawyers from a handful of firms were scattered around Manhattan in … [more]

Luxury lingerers

A look at the 10 Manhattan properties priced over $20 million that are taking the longest time to sell — despite the sizzling market

Even in a hot market, some properties just go cold. While prices of über high-end Manhattan apartments are skyrocketing and inventory is tight, not every luxury property ends up in … [more]

Alicia Glen
Alicia Glen

City Hall’s Goldman girl: Alicia Glen

David Belt of development firm Macro Sea was struggling last year to put together a deal for an 84,000-square-foot high-tech manufacturing center at the Brooklyn Navy Yard. Belt needed to … [more]

The big office space shuffle

An array of Midtown’s large office buildings are working to backfill mega-blocks of space slated to be left vacant when tenants with hundreds of thousands of square feet move out. … [more]

Ritzy rentals lag on East End

The summer Hamptons rental market didn’t heat up until temperatures rose. Local brokers said demand for the priciest rental properties on Long Island’s East End froze as snowy days and … [more]

Donna Olshan (left) and Lauren Muss
Donna Olshan (left) and Lauren Muss

What do you mean, “sold?”

Pricing property sometimes seems like trying to hit a moving target. For brokers, determining an appropriate asking price boils down to a combination of factors: Understanding the market, knowing the … [more]

Landlord incentives persist — in pockets

With record-high rents and extra-tight inventory, fewer Manhattan property owners are dangling incentives to lure renters and brokers to their buildings. But the practice persists in certain neighborhoods — predominantly … [more]

Asking rents drop sharply Downtown

Despite large leasing deals such as Time Inc. relocating to Lower Manhattan last month, the average asking rent in all three Manhattan markets ticked down in May, the first time … [more]

Stephen Ross (photo by STUDIO SCRIVO)
Stephen Ross (photo by STUDIO SCRIVO)

The Closing with Stephen Ross

Billionaire developer Stephen Ross is the chairman of the Related Companies, the firm behind Hudson Yards, the mega-project on Manhattan’s Far West Side. The $20 billion project will include 16 … [more]

Features

  • The month's funniest quotes
  • Winston Fisher
  • Stan Gale Sr.
  • Sunset Park is rising

Pricey Hamptons homes shatter records

Top-dollar Hamptons sales and listings are nothing new, but the past 12 months commanded especially impressive prices in Long Island’s bastion of billionaires. The priciest deal of the last year … [more]

Feverish investment for Far West Side

The redevelopment of the Hudson Yards site by the Related Companies into a massive hodgepodge of 17 million square feet of new commercial, residential, retail and open space is well … [more]

Bradley Burwell (left) and Nick Papas
Bradley Burwell (left) and Nick Papas

Hitting the hotel sweet spot

Will an oversupply of rooms and competition from Airbnb create profitability problems for hospitality players?

The New York City hospitality industry has been in the spotlight lately — and not just for the fancy new hotels going up all over Manhattan. It has, of course, … [more]

‘Whisper’ listings make more noise

With inventory tight, more owners are selling without marketing their home

The so-called “whisper listing” is a longtime staple among New York City sellers looking to quietly unload a high-priced luxury residential property. Sellers, of course, choose to sell their properties … [more]

The newest batch of Hamptons’ hot hangouts

The Hamptons summer season is officially underway, and this year’s East End pleasure seekers will soon become acquainted with the new hotspots born during the off season — from upscale … [more]

Seward Park Urban Renewal Settlement
Seward Park Urban Renewal Settlement

Affordable development darlings

It seems like only yesterday that big-time luxury developers were the darlings of City Hall. Under Mayor Michael Bloomberg, firms like the Related Company, Vornado Realty Trust, Tishman Speyer and … [more]

What happens in retail

Deals started at ICSC convention don’t stay in Vegas, but have potential for big impact in New York City

About 2,000 real estate players from New York attended the massive International Council of Shopping Center’s annual RECon conference in Las Vegas last month. The event, which drew 33,500 people, … [more]

Getting a ‘Handel’ on the UWS

The new cross-hatched tower from Handel Architects is the best of the three projects it has designed on the Amsterdam Avenue stretch

Few areas of Manhattan have been as fundamentally transformed over the past few years as the stretch from the west side of Amsterdam at 66th Street to the point where … [more]

49 Dupont Street
49 Dupont Street

Brooklyn’s old-school investors

The behind-the-scenes wrangling that has played out over the past two years to control 49 Dupont Street, the massive development site in Greenpoint, is not so different from the white-knuckle … [more]

Cash-outs stage a comeback

The name itself conjures up images of ATMs: cash-outs. Many may associate the term “cash-out refinancing” with the frothy and dangerous days of the real estate boom, when some owners … [more]

Editor’s note

Guilt-free condos in the gilded age

The number of super-luxury condo projects keeps increasing in Manhattan, and that means the amenity wars are back in full swing. Like toothpaste companies that come up with new ways … [more]

Central Perk

Bigwigs bring A-game

Top developers, brokers, architects break down market trends from condo and land prices to the best investments at TRD’s New Development Showcase

[more]

The show after the showcase

Industry players schmooze and booze during after-party at the Griffin in the Meatpacking District

[more]

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