The Real Deal New York

April 2018 Issue

Rough cut

How the global diamond trade — from cartels to war zones — shaped New York’s skyline

There are figurative cutthroat businesses, and there are literal ones. Yitzchak Tessler knows the difference. Chain-smoking in his Midtown office, he recalled his days flying from South Africa into civil war-torn Angola to buy gemstones. In the 1980s, “blood diamond” hadn’t yet become a rallying cry for human-rights groups, and traders could work in war zones with impunity. The country’s capital, Luanda, was a woebegone place — sewage in the […]… [more]

The anatomy of construction corruption

How bribery and overbilling schemes have become commonplace in the world of real estate’s middlemen

In New York City’s $45.3 billion construction industry, it’s a network of middlemen that choreograph the rise of buildings. From supply companies to electrical … [more]

Will SoftBank’s splashy real estate plays pan out?

Masayoshi Son’s aggressive bets on a growing number of property-related startups have left some questioning his vision for those firms and the broader industry

Masayoshi Son responds to swagger. It’s something only a handful of New… [more]

Developers are bracing themselves for the burn of Trump’s metal tariffs

Industry players are searching for loopholes and other ways to dodge the new taxes

New York City developers and builders certainly won’t strike gold with the Trump administration’s recent metal… [more]

New development agents get stretched thin

As the sector struggles and units take longer to sell, brokers (and firms) specializing in new condos are doing more, but getting
paid less

The developers of 111 Murray Street had reason to celebrate this fall after… [more]

The dismantling of
Forest City Ratner

While still a major property owner, the once-powerful developer has retreated from the building game — and its future is in flux

Hall with a proposal to build the largest public-private real estate development New York had seen in more than … [more]

Meet the offbeat developer looking to reinvent Times Square

From derivatives trading and oil painting to past instances of running afoul of the law, Mark Siffin has become an unlikely player behind a multibillion-dollar redevelopment

Before Maefield Development… [more]

The Real Deal turns 15

A look back on a decade and a half of covering the most dynamic real estate market in the world — and on our own history and growth

Mayor Bloomberg was helming City Hall. Apple was still four years off from debuting the iPhone. The country had just … [more]

The Real Deal turns 15:
our favorite covers

TRD looks back on some of our favorite covers to hit newsstands in the last 15 years… [more]

The Real Deal turns 15:
never a dull moment

A stroll down memory lane

From launching in new markets to covering (and breaking) some of the biggest real estate stories in the city… [more]

The Real Deal turns 15:
hits and misses

A look at a few big stories that TRD
got right (and wrong)

From our spot-on coverage of Chinese capital controls to our less-accurate suggestion that Wall Street would be deregulated, what TRD timed right and what missed the mark…. [more]

The Closing: Adam Tihany

The star restaurant designer on his Eurotrash days, doing interior work for a Saudi arms dealer, and the “vicious circle” of New York’s sameness

DOB: January 1, 1948 Lives in: Manhattan, Westchester, Paris Family: Married with a son and a daughter Adam Tihany founded his eponymous firm in 1978 and … [more]

The year of the
Manhattan mega lease

Outsized leases drove business for the top commercial brokerages last year, but 2018 has not started off with the same bang

When News Corp and 21st Century Fox expanded their Midtown office footprints to a combined 1.2 million square feet… [more]

Nolita’s new ‘quiet’ condo

The Tadao Ando-designed 152 Elizabeth Street employs a traditional Japanese aesthetic with more contemporary materials

On a clamorous corner along Kenmare Street in Nolita, the Japanese architect Tadao Ando has designed what he calls a “very quiet piece of architecture.” Developers Sumaida + Khurana and […]… [more]

The chain of command: Vornado Realty Trust

The publicly traded firm has spent the last few years cutting the fat by narrowing its portfolio and shedding divisions

Vornado Realty Trust, one of New York City’s top commercial landlords, has spent the last few years in shuffle mode. The publicly traded firm recently sold a chunk… [more]

NYC vs. Silicon Valley

Google’s Chelsea Market deal might be just the tip of the iceberg when it comes to tech tenants growing their footprints in the city

In the grind of New York real estate, it can be a struggle to recognize what’s right in front of you. But the reality of technology companies moving in the […]… [more]

A mini boost for
NYC’s hotel sector

RevPAR is up, but pricing has yet to follow suit

Manhattan’s hotel industry got a much-needed boost when its gold-standard metric turned a corner at the end of 2017. Revenue per available room — known in industry lingo as RevPAR […]… [more]

Editor’s note:
Happy birthday to us

What do you get when you cross an Iranian, an Israeli and a WASP from Long Island? It sounds like the setup for a bad joke, but it’s the founding […]… [more]

Features

The competition for the online retailer’s HQ2 has pitted cities each other, but some question whether the $5B campus is worth the fight
The Corcoran broker on closing $180M in sales last year, working with celebs
and living the Brooklyn lifestyle
The Douglas Elliman president on dressage riding, buying fictional floor plans and giving up modern dance for real estate
A roundup of news and data on the residential market
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
A roundup of news and data on the commercial market
The funniest and most insightful comments
on real estate