The central theme of The Real Deal‘s May issue, which went live today, is competition. Adam Pincus covers the battle for anchor office tenants on Manhattan’s far West Side, which has recently seen the rise of major projects in addition to Related Companies’ North and South towers at Hudson Yards, Extell Development’s One Hudson Yards, and Brookfield Office Properties’ Manhattan West. In TRD‘s annual ranking of the borough’s biggest residential firms, Katherine Clarke zeroes in on the three problems that Manhattan’s brokerages are facing: inventory, inventory, inventory. And C.J. Hughes analyzes which Manhattan neighborhoods have been hit hardest by the inventory squeeze.
Adam Piore peers into the world of RXR Realty’s Scott Rechler, one of the industry’s biggest beneficiaries of the real estate market crash and subsequent recovery. And David Jones profiles Ed Scheetz, the former CEO of Morgans Hotel Group, who is making a comeback to the city’s boutique hotel scene following a scandal. Stepping out of New York City, Hayley Kaplan chronicles the hottest global projects being pursued by top U.S. developers.
Also in the issue, Adam Pincus puts together TRD’s first-ever ranking of closed residential deals. Hayley Kaplan documents how boutique brokerages are duking it out for high-end listings. Leigh Kamping-Carder reviews Charles Bagli’s “Other People’s Money,” an account of Tishman Speyer’s acquisition of Stuyvesant Town-Peter Cooper Village. Finally, in our Closing interview, Katherine Clarke talks with Jonathan Tisch, the co-chairman of Loews Corporation.
To read these stories and dozens more, click here or on the “Magazine” tab at the top of the website. —Hiten Samtani