The Real Deal New York

April 2015

Real Estate’s Rising Stars

The 35-and-under crowd that’s breaking records,
launching companies and generally shaking up the industry

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 most of them, getting to this point wasn’t easy, especially since they’ve come […]… [more]

April 2015
The Real Deal magazine

Penciling out the penthouses

Soaring prices for luxury apartments bulk up profit margins for developers

Years before anyone called 57th Street “Billionaire’s Row,” developer Gary Barnett was gunning for a sales record at his Christian de Portzamparc-designed One57 in Midtown. In December, he got his […]… [more]

Lagging at the top
of the market

At the uppermost reaches, listings trump sales big time

With a handful of record sales in the past year, there’s no question Manhattan real estate has entered a new stratosphere. But even as asking prices at the very top […]… [more]

When will the boom break?

Economists say this upswing is
more solid than the last two

The word “boom” may conjure up images of skyrocketing prices and massive amounts of construction — at least when discussed in real estate circles. But the truth is that not […]… [more]

SoBro’s best bets

From Mott Haven to Hunts Point, the nabes attracting the most
investment in the borough

Developers and investors are pouring an increasing amount of capital into commercial and residential real estate projects in the Bronx, looking beyond the portions of Brooklyn and Queens where prices […]… [more]

The dirt on NYC’s
soaring land values

With condo prices failing to keep pace, industry experts worry land prices will hit ‘point of no returns’

Much ink has been spilled about the skyrocketing price of New York City land. Judged against almost every real estate measure in the market, land prices are through the roof […]… [more]

Corcoran vs. Corcoran Sunshine

The firm’s new development success has alienated some top-producing resale agents, but changes are afoot

In a business where information is currency, Corcoran Group’s Pam Liebman is one of the richest around. So when she heard that her former sales director,… [more]

Fredrik Eklund kicks
it up in “The Sell”

Elliman broker’s self-promotional
tome mixes fluff and substance

A Fredrik Eklund boast is usually not complete without a ranking, record or accompanying superlative. The “Million Dollar Listing New York” star and Douglas Elliman power broker leads the No. 1 […]… [more]

The Hamptons
is ready to shine

Lead-in to the summer season,
short-lived slowdown replaced
by pick up in sales activity

The kickoff to the Hamptons season was muffled by a blanket of several feet of snow. Cancelled showings led to a slowdown, albeit a short-lived one. And some brokers powered […]… [more]

The Closing: Howard Lutnick

Howard Lutnick was thrust onto the national stage when the Sept. 11 attacks killed 658 of his employees, including his brother. The Cantor Fitzgerald CEO became one of the most […]… [more]

Features

  • Sizing up NYC’s micro-units
  • Jerry Larkin
  • Big players, funny comments
  • Real estate happenings

The Hamptons’
retail reshuffling

A roundup of the new venues,
projects and retail hot spots
debuting this season

The results of off-season reshuffling in Hamptons’ commercial real estate are starting to take shape. A number of new restaurants, hotels and other venues have already opened, while others will […]… [more]

Who to watch in
the upcoming season

The fresh faces and familiar names making waves in East End real estate

Like New York City, the Hamptons real estate world has its own cast of colorful characters. Power players like developers Joe Farrell and Michael Davis — responsible for a slew […]… [more]

A mini-revolution in Midtown

CetraRuddy tower will bring distinction to drab neighborhood

The designers over at CetraRuddy are nothing if not pluralistic. Their latest project, an irregularly shaped tower at 242 West 53rd Street that looks like a mod pepper shaker draped […]… [more]

As competition intensifies,
sales offices open earlier

Builders, marketers aim to capture strong demand in presales

In a market where selling condos off of floor plans is yesterday’s news, developers and brokers are testing another way to edge out the competition: opening sales offices earlier and […]… [more]

New York players host
‘road shows’ in China

Developers and investors wine
and dine in pursuit of funding
for local projects

Elaborate 12-course meals. Pop concerts. High-end hotels with sweeping views. These are just some of the extravagances that New York real estate players use to lure in potential investors in […]… [more]

Garden State — beyond
the Gold Coast

Prime NJ suburbs get boost from
Wall Streeters and Brooklynites;
office market sees uptick

Brokers selling multimillion-dollar penthouses and Midtown Manhattan buildings aren’t the only game in town —
or in the outskirts of town…. [more]

Shedding light on
Sunnyside Yards

Politicians and developers have eyed the Western Queens rail yard for
three-quarters of a century

When Mayor Bill de Blasio called for the creation of 11,250 affordable housing units at Sunnyside Yards, he was unearthing an idea tossed around for more than 70 years. The […]… [more]

Holding out in Hudson Yards

Some property owners refuse to
sell out to developers, even
when offered big bucks

Small property owners and New York City developers have been facing off since that adage about location in real estate was coined. And every once in a  while, those contests […]… [more]

Neighborhood Dive:
The Next Renaissance?

Development, and gentrification,
ramps up in East Harlem

East Harlem, also called Spanish Harlem and El Barrio, has struggled over the years with just about every measurable quality­-
of-­life measure…. [more]

Class A office tower
sales accelerate

As deals increase for Manhattan office buildings, a look at who is digging in and who might sell next

Large Manhattan Class A office building sales are on fire. In a rebound following several slow years, 12 towers… [more]

Rent payments can boost tenants’ credit scores

When rent collection firms report payments, tenants can see
scores improve

It’s the great credit divide in American housing: Those who buy a home and pay the mortgage on time typically see benefits in their credit scores. Those who rent an […]… [more]

What they’re reading now

Insights from the desks of
Garret Lepaw, Jodi Stasse
and Dana Moskowitz

Where do you look for insight and inspiration? To find out, The Real Deal asks leaders in the industry what they’re reading. Garret Lepaw Sales and leasing director, Town Gramercy […]… [more]

Can Robert Durst beat the rap?

Lawyers discuss whether the RE scion’s Jinx ‘confession’ will
make the case

“There it is, you’re caught.” Thus began the muttering monologue Robert Durst recited as he washed his hands in the bathroom following taping for the HBO docu-series, “The Jinx: The […]… [more]

Editor’s note

LOS ANGELES – Happy April Fool’s Day! The trial of Robert Durst just ended in an L.A. County courthouse. The New York real estate scion walked free, yet again. Durst, […]… [more]