April 2019 Issue

NYC’s ghost towers

Over the course of the last several years, billionaire Ken Griffin went on what can only be described as a real estate buying binge. There was a $60 million penthouse in Miami, a $59 million penthouse on Chicago’s Gold Coast and a $122 million mansion overlooking St. James’s Park in London. Then, for the hedge funder’s pièce de résistance, he closed on the record-breaking $238 million condo at 220 Central… [more]

Investors:
A double-edged sword

Deep-pocketed investors have clearly been a boon for New York City developers, who have banked on them to buy up … [more]

Tax targets

For a roughly eight-week stretch, New York real estate players were facing… [more]

High rollers
in a budding business

Churchill Real Estate Holdings’ … [more]

Who’s winning and losing on Wall Street?

Newmark Knight Frank saw its stock take another beating in February and March, while the rest of the “Big Four” … [more]

Squeezing profits
from shared housing

It seems co-living is finally coming of age. The problem is how to scale. The high-end communal housing model is … [more]

The battle of the banks

Last year, Luxury Mortgage Corporation’s Mira Dick worked with a former Wall Street banker who was having trouble locking in a mortgage for a $2.2 million… [more]

The Closing: David Kramer

David Kramer is the president of Hudson Companies, one of the city’s largest affordable housing … [more]

Manhattan’s leasing leaders

When Hudson Yards opened in the middle of last month, roughly 82 percent of the 8.9 million square feet of office space at the megaproject was already … [more]

Brooklyn’s leasing leaders

The Real Deal ranked the top office leasing brokerages in terms of square … [more]

Willet be?

When former mayor Michael Bloomberg unveiled the city’s master plan for redeveloping Willets Point back… [more]

Intelligent design

Imagine if a building could function like an iPhone. That idea struck Rudin Management’s John Gilbert III when he waited at Joe’s Pizza on 14th Street in 2009. With Rudin… [more]

Power lunch: Developers get candid at the Four Seasons

Six months after the Four Seasons Restaurant moved out of the Seagram Building and reopened on East 49th Street, a trio of developers dined before … [more]

Residential market report

Manhattan’s rental market improves The luxury sales slump continues to be a silver lining for Manhattan’s rental market. Rents rose in February as would-be buyers took refuge in rentals, according… [more]

Commercial market report

Hudson Yards office rents rise as development debuts As the Related Companies’ sparkling new towers rise along Manhattan’s West Side, prices are escalating just as quickly. Despite its varied … [more]

Editor’s note:
Getting ghosted

“There’s never a development project that’s embraced.” So says David Kramer, president of the Hudson Companies, one of the city’s largest affordable housing developers, in this month’s Closing interview. Kramer… [more]

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