The Real Deal New York

May 2014 Issues

Big firms, big listings

Brokerages with a hold on the luxury market see dollar volume of listings rise despite dwindling number of for-sale properties

The strength of the Manhattan luxury market is continuing to buoy some of the city’s largest and most established firms, The Real Deal’s annual ranking of the borough’s top residential firms shows. Despite historically low levels of inventory and a drop in their total number of exclusive listings, firms like Douglas Elliman, the Corcoran Group, Brown Harris Stevens and Sotheby’s International Realty — those which have a substantial share of … [more]

World Trade Center’s retail lineup revealed

As the city waits for the new World Trade Center development to open and begin pulsing with office workers, tourists and residents, big egos are clashing behind the scenes over … [more]

Stop signs or green lights?

It isn’t just all those new residential towers that are reaching for the sky. The average sales price for a Manhattan apartment soared almost 31 percent higher in the first … [more]

A rendering of a One57 apartment
A rendering of a One57 apartment

One57 — from (unit) A to Z

A look at the deals, budget and revenue at the city’s most-talked-about condo tower

Gary Barnett’s One57 is the most talked-about residential project to hit the city since 15 Central Park West. But while it may be providing juicy, of-the-moment fodder for the industry, … [more]

Large blocks hit market in Midtown South

Former Ring building one of a flurry of spaces listed amid tight leasing climate

The office-leasing market in Manhattan remained strong last month, with the average asking rents rising in all submarkets, even as the availability rate ticked up in Midtown South as landlords … [more]

Super stores

A ranking of the highest-grossing retail buildings in Manhattan — and a look at the landlords who profit from them

The crush of tourists — often standing five deep at crosswalks in Times Square, Herald Square and on Fifth Avenue — may be frustrating to New Yorkers trying to get … [more]

Steven Durels
Steven Durels

The lease masters are in-(the)-house

After about two years of scouting for a location, Facebook committed to establishing its New York headquarters at 770 Broadway in May. The complicated deal came together after Vornado, the … [more]

Shaking up the middle

Among mid-sized firms, Stribling trounces rivals, while other brokerages see leads shrink

The residential brokerages that dominate the middle of the Manhattan market saw some serious reshuffling this year. These firms — too small to make it onto the top firms list, … [more]

The boutique boom

Dolly Lenz’s brokerage takes top prize, while other newbie firms also make debut on ranking

This year’s boutique brokerage ranking was stirred up substantially by the formation of several new luxury-focused companies, which have planted their flags firmly in Manhattan. The cluster of start-ups has … [more]

Jeff Winick (photo by STUDIO SCRIVO)
Jeff Winick (photo by STUDIO SCRIVO)

The Closing with Jeff Winick

Jeff Winick on shedding 55 pounds, his collection of Rolexes and being a deal junkie

Jeff Winick is the founder and CEO of retail brokerage Winick Realty Group. He has personally leased more than 1 million square feet of retail space in New York and … [more]

More buyers take a break

Frustrated NYC apartment hunters deactivate from market to “clear” their heads

Much has been written about the fact that prospective Manhattan buyers have grown frustrated by the lack of residential inventory in the market, but that distress is hitting new levels. … [more]

Editor’s note: Our transient times

As blasphemous as it might be to write in a real estate magazine, it hardly seems like people even need homes anymore. In the era of cloud storage and the … [more]

Features

  • David Schechtman
  • The month's funniest quotes
  • Next stop for investors: Bronx
  • The month in review
  • Richard Steinberg
Bill Ackman
Bill Ackman

Ackman bets big and high

Hedge fund chief’s latest real estate investments, from his One57 buy to his increased stake in Fannie and Freddie, are drawing new industry attention

With a career marked by big real estate bets, which resulted in both hefty jackpots and big busts, it may not be surprising that William Ackman, who runs the $11 … [more]

One57’s big buys

Surveying the most buzzworthy purchases in the building — plus the first wave of deals that have officially closed

The luxury market has received a lot of press for the outrageous prices buyers are paying. And at almost no building is that truer than at One57, where the average … [more]

Probe into developers’ tax breaks in limbo

U.S. Attorney may take harder line on developers after Cuomo commission disbanded mid-probe

Just nine months after creating the Commission to Investigate Public Corruption, which was probing controversial tax abatements given to five of the city’s top real estate developers, Gov. Andrew Cuomo … [more]

Joanne Podell, left, and Sonia Bain
Joanne Podell, left, and Sonia Bain

NYC retail world preps for Sin City

The New York City retail world is preparing to head en masse to Sin City for the largest annual international retail trade conference later this month. The gathering, a must-attend … [more]

Mortgage add-on fees hit hard

Punitive Fannie, Freddie fees hurt borrowers

When you’re raking in tens of billions in profit by helping credit-elite borrowers purchase homes, couldn’t you lighten up on fees a little for everyday folks? That’s a question increasingly … [more]

The sketchy gray areas of NYC’s commercial real estate game

The real estate industry was never known for choirboy-like behavior. Many people can share a tale of backstabbing or dirty dealing. Most times, these acts fall into an ethical gray … [more]

David Wolkoff and his father, Jerry Wolkoff
David Wolkoff and his father, Jerry Wolkoff

5Pointz unvarnished: the developer’s side

G&M Realty’s Jerry and David Wolkoff have kept a relatively low profile despite years of developing projects in the outer boroughs and on Long Island, as well as managing 15 … [more]

The City Council’s new speaker: Still a wild card

Three months in, real estate players are still trying to gauge how Melissa Mark-Viverito will impact the industry

The new City Council Speaker, Melissa Mark-Viverito, swept into office firmly in lockstep with Mayor Bill de Blasio, especially on the issue of affordable housing. But with just over three … [more]

30 Park Place: A nod to a masterpiece

The Robert A.M. Stern tower is a rebuke to Gehry’s 8 Spruce, but a tribute to the Woolworth Building

Although Robert A.M. Stern has a number of high-rises to his credit, including the Seville and the Chatham, both on the Upper East Side, he is not generally known as … [more]

Stephen Preuss and Adelaide Polsinelli
Stephen Preuss and Adelaide Polsinelli

The Flushing market’s feng shui

The Flushing real estate scene was once considered a niche market for Asian communities. But in the past few years, the tide has turned. Stephen Preuss, vice president of sales … [more]

The WTC leasing posse

In March, the Australian mall giant Westfield Group closed on its $1.4 billion purchase of the massive retail space at the World Trade Center. Now the real estate investment trust’s … [more]

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