Even people well-versed in the real estate industry are taken aback by the pace at which New York’s skyline is being transformed. New development projects have been the defining feature of 2014, with more than 3,000 units expected to hit the market by the end of this year. With inventory comes opportunity, and this month, in our November cover story, which is now live online, The Real Deal ranked the city’s top new development marketing firms.
As new product hits the market, old masters also sense that there’s money to be made. Douglas Elliman chairman Howard Lorber is upping his bets on the New York City development market, partnering with the likes of Michael Shvo and hotelier Ian Schrager. In a profile, we chronicle his rise to the top of the brokerage world and highlight some of his new ventures.
This month, we also survey the city’s residential brokerages and their commercial counterparts, to get a sense of how they attract and retain the city’s top talent. In some cases it’s generous commission splits, in others it’s in-house yoga classes. Check out residential firms with all the perks and commercial firms, extras included.
Finally, in our Closing interview, Empire State Realty Trust’s Tony Malkin tells us about coping with ADHD, the challenging Empire State Building IPO process, and being a Harvard kid washing up after horses on a ranch.
To see the complete issue, click here or on the “Magazine” tab at the top of the website. Enjoy! — Hiten Samtani