The Real Deal New York

March 2014 Issues

Social media’s new status

How social media has gone from bit player to central marketing component for NYC’s residential firms in the last few years

(For related story, see “The social media scorecard: A look at how the five biggest residential firms stack up“) In July, Halstead Property broker Jill Sloane wrote a post on the brokerage’s popular Tumblr page titled “10 things you didn’t know about the Ansonia.” Sloane compiled a list of historical tidbits about the Upper West Side condominium, including its status as the first air-conditioned hotel in the city and its … [more]

Real estate’s rising stars

The 35-and-under crowd that’s making a splash on the residential, commercial, new development and start-up fronts

It takes time to earn your chops in New York real estate. The learning curve is steep, and the market demands both skills and connections. Most of the industry’s household … [more]

Kicked out of Town?

A look at the dispute between Town Residential’s two top guns, Andrew Heiberger and Joe Sitt, as they battle for control of the brokerage

While the leading residential brokerages like Douglas Elliman and the Corcoran Group held low-key holiday parties in 2013, three-year-old firm Town Residential went all out with a glitzy 800-person bash … [more]

Adam Spies (left) and Doug Harmon
Adam Spies (left) and Doug Harmon

The big broker boost

TRD’s annual ranking of investment sales firms and commissions finds some brokerages surging ahead and others stumbling

In the last year, the number of New York City buildings sold with the help of a broker shot up significantly, according to an exclusive analysis conducted by The Real … [more]

Getting socially smart

Four innovative ways NYC real estate pros have used social media

As firms get more fluent in using social media, some are getting creative, moving beyond simple posts of listings and self-promotion. Here are four examples of New York City real … [more]

Standout social media start-ups

Some new social media–driven real estate companies making waves

It’s not just brokerages that are cashing in on social media. A whole ecosystem of startups is emerging to meet the needs of the real estate industry, and many of … [more]

Bob Knakal
Bob Knakal

Knakal’s new game plan

After a longtime focus on small deals, Bob Knakal goes after higher-priced assignments

Robert Knakal calls his move into the realm of mega-deals “a slow and steady progression.” Slow and steady is a wild understatement for Knakal, co-founder and chairman of the city’s … [more]

Unusual pricing upends market

With Midtown South’s popularity, older and less central buildings can actually cost more

The way office-leasing tenants value the two most basic variables for space in Manhattan, location and the vintage of the building, is undergoing a sea change, creating unpredictable results in … [more]

Boutique condo projects spark broker battles

With inventory tight, agents vie for marketing assignments

Record-low residential inventory is driving competition among myriad brokers for exclusive assignments to market new boutique condominium projects, many of which will hit the market in the coming months, brokers … [more]

Bill Rudin (Photo by STUDIO SCRIVO)
Bill Rudin (Photo by STUDIO SCRIVO)

The Closing: Bill Rudin on his stint in films and his Poodle passion

Rudin is the CEO of Rudin Management Company, a business started by his grandfather, Samuel Rudin, in 1925, and previously run by his father, Lew Rudin, and uncle, Jack Rudin. … [more]

Features

  • The month's funniest quotes
  • Emily Beare
  • High hopes in the Hamptons
  • Andrew Barrocas

De Blasio’s latest appointees get industry thumbs-up

Hires seen as key to mayor’s affordable housing goal

Housing advocates and nonprofit leaders praised Mayor Bill de Blasio’s latest batch of real estate–related appointees last month, saying they would start the march toward fulfilling his affordable housing campaign … [more]

Top-dollar deals, temporary digs

High-end rental market sees six-figure deals and glut of listings with price tags of $100,000 a month

The tight inventory of for-sale residential properties, along with a glut of high-end homes going unused by their owners, is fueling a growing supply of luxury rental units in trophy … [more]

André Balazs
André Balazs

André the giant

After last month’s blockbuster sale of the Standard High Line, Balazs debuts new hotel in London

Over the course of a long career, André Balazs has been known to keep a tight grip on his hotel portfolio, which is bedazzled with see-and-be-seen properties in Los Angeles, … [more]

Social media’s office space blitz

A ranking of the tech firms — from Twitter to LinkedIn — that have inked the biggest Manhattan office leases

Here is something to tweet about: tech and social media office leasing took off in 2013, with the top five Manhattan deals for social media adding up to more than … [more]

Breaching the divide

Residential and commercial brokers increasingly crossing sectors to drive more deals

New York City real estate historically upheld a sacrosanct division — call it “church and state” — that separated residential and commercial brokerage. But these days, that divide is quickly … [more]

Menachem Stark
Menachem Stark

Menachem Stark’s portfolio revealed

In wake of murder, a tally of the developer’s properties — and his rise and fall

Two months after the burned body of Brooklyn developer Menachem Stark was found at a gas station in Great Neck, L.I., the motive behind his murder remains opaque. Now law … [more]

Open season on landlords

It appears to be open season on landlords. Since the beginning of the year there have been three high-profile murders (or attempted murders) of building owners in the New York … [more]

7 over 70

A look at some of the longest-serving elder statesmen and women of NYC real estate

Youth may be crucial for the immediacy of the digital start-up world, but maturity and experience can make a big difference in real estate. Those who have survived and thrived … [more]

Andrew Barrocas (left) and Mitchell Hochberg
Andrew Barrocas (left) and Mitchell Hochberg

Behind the Queens development craze

Focus is on rental construction now, but some say condo boom could be next

While Brooklyn has rapidly gentrified in the last decade and become the trendiest of the outer boroughs, it looks like Queens is going to be next. “The East River used … [more]

A helping hand on mortgages

Families step in to help young people buy homes despite heavy student debt

Parents, grandparents and young adults know the problem only too well: Heavy student-debt loads, persistent employment troubles stemming from the recession, plus newly toughened mortgage-underwriting standards, are all standing in … [more]

Peter Pennoyer’s high rise to boost nabe

Stately 16-floor UES condo has roots that harken back to Sir Christopher Wren

In its demure and quiet way, a new development at 151 East 78th Street looks to be one of the more promising projects in the city, even though its actual … [more]

Second Avenue Subway rendering
Second Avenue Subway rendering

Prices rising at the end of the tunnel

Second Avenue subway progress gives bump to Upper East Side property values

In mid-2013, Elaine Diratz, senior managing director of Corcoran Sunshine Marketing Group, noticed that the one-bedroom condos at 515 East 72nd Street, formerly known as Miraval Living, were selling briskly. … [more]

The social media scorecard

A look at how the five biggest residential firms stack up

(For related story, see “@NYCRealEstate: Social media status update“) Not all social media efforts are created equally. This month, TRD evaluated the city’s five largest residential brokerage firms, looking at … [more]

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