From the New York website: In many of New York City’s most ambitious real estate plays, there is the “guy behind the guy” — the silent money backer who puts up the crucial equity.
For decades, these investor partners of major developers have largely shunned the spotlight. But recently, the deep-pocketed players have become more willing to reveal themselves as their appetites shift from private equity to real estate.
In the cover story for our August issue, The Real Deal takes a closer look at the biggest backers no one knows about.
They fund the projects and acquisitions of developers such as HFZ Capital Group, Moinian Group and more.
Next, we look at how the race to anoint starchitects is impacting the city’s skyline. Bjarke Ingels, for example, has skyrocketed to fame in a way that few before him ever have.
Meanwhile, over on Billionaires’ Row, the real estate phenomenon blazing through the 57th Street corridor may be a short-lived market blip. The supply of units for the global elite has quickly outpaced demand.
We also profiled real estate data provider CoStar, which is expanding its operations as some in the industry grow leery of its market power.
In our Closing interview, Fisher Brothers partner Kenneth Fisher talks about his Bronx childhood, working with his father — and the hope that after he’s gone people say he “gave a shit.”
To read the August issue of The Real Deal, click here or on the “Magazine” tab on the top left of the homepage. Enjoy! – Mark Maurer