The Real Deal New York

The April issue is live!

April 01, 2014 01:01PM

Based on the recent surge in construction permit applications filed in the city, the seemingly never-ending residential inventory squeeze might be easing over the next few years. We examined filings to determine the most active developers in the five boroughs, in our cover story, which is now available online. The list was a mix of well-established players and up-and-comers, with Extell Development at the top.

In “Hey, big spender,” we look at the real estate players — from investment firms to Russian oligarchs — who are gearing up to spend a lot of money on property this year. They have their sights set on office buildings, multi-family properties, retail condos and pricey residential pads.

We profile the New York startup Urban Compass on the heels of its $150 million valuation. Some industry insiders are unsure whether the firm can deliver returns for its tech-focused investors while competing in a low-margin market flush with well-established brokerages.

“Waking Up Wythe” maps out the transformation of the Williamsburg stretch, where the Wythe Hotel is just one of dozens of new projects. Another story looks at whether Mayor Bill de Blasio’s handling of the Domino Sugar Factory redevelopment sets the tone for the administration.

We also explore the shifting Manhattan residential market, in which the ongoing apartment shortage is triggering spikes in apartment costs. Condo and co-op prices in the borough are just now feeling the impact of the lack of inventory.

There’s plenty more to check out in the issue, including an analysis of Warren Buffett’s model deal, a look at how developers are marketing projects to their dream tenants, and hospitals becoming real estate powerhouses.

Finally, in our Closing interview, Kevin Maloney, founder and principal of Property Markets Group, chats about leveraging his student loans and raising chickens.

Enjoy. – Mark Maurer

  • johnston

    C’mon…Urban Compass will not last just look at the listings they have pretty much only rentals and they do not have any top producers so I give them till then end of the year and why should they last? They will never be able to compete with the top 10 firms in NYC.
    UC is suffering from an identity crisis …tech firm or real estate not both and why all the engineers? They should be concentrating on agents to sell real estate but obviously they are not.
    $150M VALUATION…HOW just HOW???
    The upper management has no real estate experience that is why they are suffering…TECHIES!!!

  • RD

    The comments here are hilarious… and just show how scared all the other brokers are from Urban Compass