It’s never been this easy to get money for New York City real estate projects. Private equity and debt funds have never been hotter on the industry, and a host of new innovations, such as crowdfunding, are adding to the mix. Throw in economic instability in many parts of the world and low interest rates, and the appeal of New York real estate gets even bigger.
We explore the implications of this rush of capital and analyze its implications in the cover story for our February issue, “NYC’s ‘golden age’ for capital,” now available online.
For years, bragging rights for the city’s top investment sales firm would alternate between CBRE, whose i-sales team is led by Darcy Stacom and William Shanahan and Eastdil Secured, whose team is led by Doug Harmon and Adam Spies. In 2014, however, the Eastdil duo surged ahead of their rivals, handling a staggering $11.2 billion in property deals. In our annual ranking, we look at how the city’s top firms did, and compare their performance to previous years.
Cushman & Wakefield’s $100 million purchase of Massey Knakal was the big year-end news on the commercial front. This month, we go behind the scenes and look at what the meeting of two giants will mean for their business models and for the industry.
Finally, in the Closing, we sit down with affordable housing developer Jonathan Rose, who riffs on being part of a real estate dynasty, his affinity for blues and more.
To read the issue, click here or on the “Magazine” tab at the top of the website. Happy reading! – Hiten Samtani