A borough long associated with arson is on fire in an entirely different way. The Real Deal voyaged to the Bronx, to explore a once-overlooked area increasingly targeted by developers and investors.
In the cover package for our November issue, now available online, we cover developers’ efforts to rebrand the borough’s fast-changing neighborhoods, city officials offering development incentives, how transit drives new projects, and the problems and perceptions that continue to plague the Bronx as a whole.
We also look at the tenants like Coach and VaynerMedia that hustled to claim space at the Hudson Yards megaproject.
Meanwhile, developers don’t always fade away after financial ruin. TRD asked finance experts why some like Harry Macklowe and Ian Bruce Eichner rise again and again – and others are banished to the lending graveyard.
We also go inside the city’s biggest deal of the year – Blackstone Group and Ivanhoe Cambridge’s blockbuster $5.3 billion purchase of Stuyvesant Town-Peter Cooper Village. The deal topped the list of our ranking of the largest multifamily portfolios of the past year.
Finally, in the Closing interview, Michele Medaglia, president of ACC Construction, talks about Ritalin, Johnny Jumpers and taking the reins at age 25.
To read the issue, click here or on the magazine tab on the top left of the homepage. Enjoy! — Mark Maurer