The Real Deal New York

Developers tap residential brokers for cash

Builders increasingly turn to agents to invest in new construction projects to help fill funding void

From the October issue: While the construction lending spigot has loosened in recent months, some developers are still finding themselves with the right property in hand, but with too little cash to get a project off the ground.

To cope with that problem, residential developers are increasingly turning to an unlikely source: the brokers they’ve hired to market their projects. [more]