The Real Deal New York

August 2018 Issue

The venture capital gold rush

Behind the Silicon Valley cash that’s upending the real estate industry and turning it into one of VC’s fastest-growing sectors

When Jamie Hodari started looking for funding for his New York-based co-working startup, Industrious, in 2012, he didn’t even bother talking to venture capital firms. “We were just so confident that VCs didn’t fund real estate that it wasn’t worth trying,” he said. Instead, Hodari and his co-founder, Justin Stewart, went to anyone they knew — parents, siblings, aunts, uncles, friends — who had money and pitched them on investing […]… [more]

Who’s holding
the purse strings?

Meet the new brain trust bankrolling real estate’s latest startups

While the venture capital world is swarming with players looking for the next hot company to invest in, it has long ignored real estate. But starting about a decade ago, […]… [more]

How the Plaza was finally won

Qatar’s sovereign wealth fund is the new owner of the landmark hotel, but Subrata Roy’s path to selling it involved multiple suitors, false starts and lawsuits

At any given time, there are more than 10,000 inmates at Tihar Prisons, near New Delhi, living in space meant for… [more]

The anti-money
laundering stalemate

Political infighting in Washington has choked efforts to reveal kleptocrats and terrorists using U.S. real estate and bank accounts to wash dirty money at a growing rate

A Malibu mansion and Gulfstream jet were seized from the playboy son of … [more]

The free agency frenzy

With turmoil brewing in commercial real estate, brokers are jumping ship at rapid rates — and realigning the industry in the process

July marked the start of free agency in the National Basketball Association, when some of the biggest names in the league test the market to see how much of a […]… [more]

Flipping the switch
on home flipping

From hard money lenders to hedge funds to iBuyer startups, investors are rushing into the fix-and-flip space in NYC and beyond

For former Keller Williams agent Parish Pradhan, home flipping started as a side gig in 2014. That’s when he and a … [more]

The Bronx is turning

While the borough’s Jerome Avenue rezoning has been slow-moving, private developers are quickly planting their flags

Jerome Avenue, the roughly 7-mile thoroughfare running from the south end to the north end of the Bronx, has long been home to a lengthy stretch of auto shops and […]… [more]

Female hardhats
breaking barriers

While there are more women working on construction sites than 40 years ago, they’re still drastically underrepresented and face a more unique set of challenges than in other male-dominated industries

Tierra Williams quickly discovered … [more]

The Closing: Joe McMillan

The DDG chairman and CEO on his Army days, his vanilla cake addiction and a missed chance at 432 Park

Joe McMillan Jr. is the chairman and CEO of DDG. The company — which launched in 2009 and initially focused on buying distressed properties — has developed 2.5 million square […]… [more]

Koolhaas’ canned controversy

At Toll’s 121 East 22nd, the architect’s shop has designed a tower with a subtle subversion, but it ultimately proves to be safe and conservative

East 22nd Street resembles many new mid-height modernist Manhattan buildings. However, the 140-unit condo… [more]

Is co-living growing up?

As operators of the niche housing spaces raise millions from investors, The Real Deal interviewed three insiders to hear how the model has evolved

Often thought of as home for kids who never grow up, co-living has had a tough go in New York — in name at least. During a panel last year, […]… [more]

Residential market report

From Manhattan’s latest sales price decline to new records for Downtown, a look at the biggest trends

Red all over: Rents and sales fall in Manhattan The median sale price for a Manhattan apartment fell for the fourth straight quarter, down 9 percent year-over-year in 2018’s second […]… [more]

Commercial market report

From Manhattan’s retail correction to the city’s never-ending tech draw, a look at the biggest trends

Retail landlords adjust to new norm Retail rents across Manhattan continued to fall in 2018’s second quarter, but leasing activity is picking up as landlords come to terms with the […]… [more]

Editor’s note:
Big returns or bust

Talk about pressure. Venture capital money is pouring into real estate — tens of billions of dollars of it. But taking that seed money is not for the faint of […]… [more]

Features

With a rash of new development and attractions,
can the seaside enclave finally overcome
its seasonal status?
The City Council member on upzoning Gowanus, pushing for plastic bag fees
and getting arrested in June
A roundup of news and data on the residential market
The Elliman broker on targeting less-sexy listings,
social media posts about prostate cancer
and rosé lunches
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
Real estate pros share their picks for books
on keeping your mind young,
what contributes to success, and more…