The Real Deal New York

November 2013 Issues

Who has the tightest grip on NYC?

A firm-by-firm breakdown of which residential brokerages dominate in which nabes

For New York City’s biggest real estate brokerages, competing for residential listings is something of a blood sport. And it’s only grown fiercer in the last year, as the number of listings has shrunk amid a market-wide inventory shortage. To find out which firms reign supreme in which areas of the city, The Real Deal poured over nearly 6,400 for-sale listings in 50 different neighborhoods across Manhattan and Brooklyn, using … [more]

Where are the rentals?

A look at the recovering, but still meager, pipeline of new apartments for lease

After the 2008 financial crisis, rattled New Yorkers pulled back on home-buying and started writing rent checks in force, while developers leased out condo units rather than selling them. Five … [more]

Dolly’s next act

The super-broker’s new company already has $384 million worth of listings, but can she maintain her success without the city’s largest firm behind her?

At the top of the residential brokerage food chain, where agents regularly do deals over $20 million, firm-hopping is rare. When a mega-broker does jump ship, it’s usually to another … [more]

Zillow's Spencer Rascoff (left) and StreetEasy's Michael Smith
Zillow's Spencer Rascoff (left) and
StreetEasy's Michael Smith

Zillow shocks insiders with StreetEasy strategy

On Sunday night, August 18, most of the 34 employees and executives of listings website StreetEasy gathered in the company kitchen for a game-changing announcement by CEO Michael Smith: Zillow, … [more]

A tale of two de Blasios

Is the Democratic mayoral candidate more pro-development than you think?

At a gathering of some 800 New York City business leaders last month, real estate mogul Bill Rudin invited Bill de Blasio to the lectern. Slightly ill at ease in … [more]

Lhota: Too little, too late?

With time running short, the GOP mayoral candidate tries to close a gap in fund-raising and support

Late last month, a federal appeals court ruled that a political action committee supporting Republican candidate Joe Lhota could begin accepting contributions of any size. The ruling, which struck down … [more]

Leslie Wohlman Himmel (photo by STUDIO SCRIVO)
Leslie Wohlman Himmel (photo by STUDIO SCRIVO)

The Closing: Leslie Wohlman Himmel

Leslie Wohlman Himmel is a managing partner at the real estate investment company Himmel + Meringoff Properties, which she founded with Stephen Meringoff in 1985. The firm operates a portfolio … [more]

Features

  • Eric Barron
  • Jerry Swartz
  • The month's funniest quotes
  • Crackdown on illegal hotels
  • TRD's interactive puzzle

Brooklyn’s heights

As demand rises, the borough sets new records for everything from townhouses to office space

It’s no secret that Brooklyn has changed dramatically in recent years, with hot new restaurants and an NBA basketball team to boot. These changes have brought significant price increases for … [more]

Government shutdown slows deal-making

Congressional debacle created uncertainty, as another debt deadline looms

During last month’s 16-day government shutdown, the business of New York City real estate appeared to operate mostly as normal, with apartments being shown and closings taking place. Nonetheless, the … [more]

Aby Rosen and 99 Park Avenue
Aby Rosen and 99 Park Avenue

Behind hedge funds’ high-flying leases

Even as big banks continue to suffer, some segments of the financial services industry are improving. The evidence of that can be found in the city’s priciest office leasing market, … [more]

EB-5 in overdrive

A look at how NYC developers are going about getting cheap capital overseas

Call it vis-à-visa financing: New York City developers, big and small, are increasingly tapping into the EB-5 program to secure capital from foreign investors. The federal program — which was … [more]

‘Broker title hell’ sets in

With corporate titles gone, agents scramble for new ways to distinguish their brands

Richard Steinberg is in what he describes as “broker title hell.” After 22 years at Warburg Realty, Steinberg had worked his way up to the rank of executive managing director. … [more]

The cast of “Million Dollar Listing New York"
The cast of “Million Dollar Listing New York"

Luxury Listings NYC hosts “Million Dollar Listing New York” soirée

The stars of Bravo TV’s “Million Dollar Listing New York” mingled with real estate’s movers and shakers last month at the debut party for Luxury Listings NYC. The publication, which … [more]

The new buzz word: Diversification

Property owners no longer relying on the usual industries to snap up space

Brokers frequently give tech companies the credit for keeping the Manhattan office leasing market afloat at a time when financial and legal services are shrinking their footprints. But many of … [more]

A rush for approvals as Bloomberg’s clock ticks down

With only two months until a new mayor comes in, developers push to get as many green lights as possible for their projects

It’s no secret that the end of Mayor Michael Bloomberg’s 12-year term has far-reaching implications for the real estate industry. But it’s not just because his likely successor, Bill de … [more]

A rendering of Pierhouse at Brooklyn Bridge Park
A rendering of Pierhouse at Brooklyn Bridge Park

Pier won

Toll Brothers' Brooklyn Bridge Park project is a boon for the waterfront, even with a mediocre design

The problems visited upon the area now occupied by Brooklyn Bridge Park go back far more than a century, to the completion of the Brooklyn Bridge itself in 1883. That … [more]

Jersey City’s jump start

The Garden State's second-largest city is seeing a new influx of buyers, renters, developers and retailers

Jersey City — once considered by many in New York to be a pop-up city that primarily offered cheaper office and residential rents directly across the river — is evolving … [more]

Unmasking real estate’s next culprit

History can only be understood at a great distance, the historian David Halberstam once said. It may take years to clearly understand what’s going on in the world around us … [more]

A home on Long Beach Island
A home on Long Beach Island

Raising the roof on the Jersey Shore

In the year since Hurricane Sandy slammed into the East Coast, construction companies have seen their business spike as homeowners tap them to rebuild, particularly on the hard-hit Jersey Shore. … [more]

Leveling the playing field on closing costs

Mortgage brokers seek to change ‘unfair’ rules on rebates

The government shutdown and the debt limit have dominated the headlines, but a behind-the-scenes fight over federal mortgage policy has been brewing, and it could affect buyers’ choices the next … [more]

The market report era

Commercial brokerages are increasingly compiling data — but how good is it?

With commercial market data now more readily available than ever, a broker can no longer bank on being the first person (or the only person) with information. Enter the era … [more]

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