In the months leading up to the 2016 presidential election, politicians aren’t the only ones flip-flipping. In the Republican-leaning world of New York real estate, where Donald Trump was born and raised, some of the early supporters of his campaign have got cold feet about voting for him.
In the cover story for our September issue, The Real Deal takes a closer look at some of the developer-turned-GOP nominee’s industry supporters who have turned their back on him in recent months amid a flurry of explosive remarks and controversy.
Trump still has several high-profile industry backers, from Vornado Realty Trust CEO Steven Roth to Douglas Elliman chair Howard Lorber. However, many of the players interviewed cited Trump’s unpredictability, which they once found appealing, as a reason for rethinking their choice for president.
We also profiled Jared Kushner, the real estate scion who has taken on a crucial role in Trump’s inner circle. The move has put him at odds with several of his business associates.
Meanwhile, New York City developers are opting for “Plan B” in a race against the recession – revising their development plans in an effort to outsmart the market.
In “NYC’s All-Time Condo Kings,” we unveil a first-ever ranking of the developers who have built the most residential condominium units in the city since 1965. Over the five-decade period, there were than 500 projects with a total of 80,000-plus apartments.
In our Closing interview, Lightstone Group CEO David Lichtenstein talks about his rabbi father and buying Chagall paintings.
To read the September issue of The Real Deal, click here or on the “Magazine” tab on the top left of the homepage. Enjoy! – Mark Maurer