They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and unforgiving industry that’s not known for being kind to novices. This month, The Real Deal polled dozens of sources to shake out the names of the newest crop of real estate’s 35-and-under rising stars, for the cover story of our April issue, now live online.
While developers have been attempting to hit new and higher markers for as long as they’ve been building, the latest crop of penthouses is moving New York City luxury real estate into another stratosphere. We look at the rise of this “new housing category” that seems to function independently of the vagaries of the market.
Shooting for the moon, however, doesn’t necessarily guarantee success in sales. In a related story, we examine the disconnect between Manhattan’s priciest listings and priciest closed sales.
In “When will the boom break?” we talk to economists about how long this trend of skyrocketing prices and hyperactive construction can last.
And in “Corcoran vs. Corcoran Sunshine,” we examine the tensions between one of the city’s most storied brokerages and its thriving new development arm. Corcoran Sunshine represents more new development product than any other firm, and its success has some of Corcoran’s brokers feeling a tad left behind.
Finally, in our Closing interview, Cantor Fitzgerald’s Howard Lutnick talks about being the face of 9/11, coping with loss, and his first job as a tennis pro.
To read the issue, click here or on the Magazine tab at the top of the website. Enjoy! – TRD