August 2019 Issue

Trouble in the land of OZK: Why NYC’s most important construction lender may be on shaky ground

Bank OZK has written fat checks to the city’s top developers for years. But there’s drama behind the scenes

As Bank of the Ozarks’ private jet lifted off from Little Rock, Arkansas, Dan Thomas geared up for another day of dealmaking. As vice chair of the bank, he oversaw one of the country’s largest construction lending operations and had become a financial messiah for major condo developers in New York, Los Angeles and Miami. Seated shoulder to shoulder with him that morning was his boss, George Gleason. Over 14 […]… [more]

The e-commerce industrial revolution

Investors and brokers say Blackstone’s nearly $19 billion warehouse bet marks a clear turning point for real estate and that the retail and industrial sectors may never be the same

It seems buying and selling… [more]

Tales from the front lines

Six key NYC residential players offer their unvarnished, first-person accounts of life in a sector that’s getting squeezed by everything from proposed commissions caps

It’s been a difficult few years for the New York City residential brokerage world. Tech pressures have risen, venture… [more]

NYC’s amenity battleground

Developers are throwing more and more money at a growing class of employees who are providing everything from private tutoring to meditation, but some say doing so could actually turn off buyers

Seated at a long dining table in a staged $11.8 million apartment on the… [more]

Agro amenities

Staten Island Urby is offering urban farming at its 571-unit complex, luring in renters with tomatoes, hot peppers and fresh-grown herbs

Olivia Gamber is the “farmer-in-residence” at Staten Island Urby, a 571-unit, 80/20 mixed-income rental building by Ironstate Development. “Most people, … [more]

The new rent reality:
Lawsuits, lobbyists and Advil

On the heels of monumental changes to New York’s rent laws, landlord groups are scrambling to protect their interests

It was standing room only at 1 MetroTech Center in Brooklyn in mid-July. More than 100 landlords and investors… [more]

The Closing: Marty Burger

The Silverstein Properties CEO on the rush of heli-skiing, buying a condo in a rival’s building and taking over for an NYC industry legend

Marty Burger is the CEO of Silverstein Properties, which is best known for acquiring the World Trade Center seven… [more]

Minimum wage days

From lifeguarding to milking cows, a look at how six top NYC real estate players got their start

It’s hard to forget a first job, whether it was scooping ice cream, waiting tables or selling knives door-to-door. But it’s funny to think that the CEOs, developers and… [more]

Gone golfin’

From Maidstone to the Bridge, the (mostly Hamptons) golf clubs where NYC real estate execs are doing deals

Anyone who’s tried to do business with a serious golfer on a summer Friday — or Monday, for that matter — may be on a fool’s errand. With an abundance […]… [more]

Running down the Rough

The priciest NYC-area golf clubs, including several with $1 million joining fees, and the top industry execs who belong

Real estate’s bigwigs do not mess around when it comes to where they golf. From Stephen Ross to Harry Macklowe to Arthur Zeckendorf, he’s a look at the … [more]

Residential market report

From a sales uptick in the Financial District to renters remaining in place elsewhere, a look at the biggest trends

Sellers face facts in FiDi The Financial District’s sales market is seeing an uptick amid bigger price discounts. Sales were up 33 percent in the second… [more]

Commercial market report

From Queens being the sole bright spot in New York’s multifamily market to Blackstone’s response to rental reforms, a look at the biggest trends

Multifamily market hits 8-year low A tepid multifamily sector in New York City continued to plague the real estate industry … [more]

Editor’s note: August, Amazon and Arkansas

Summer is that time of year when New York is the most unloved. Many flee the city for any nearby body of water or spend weeks abroad in far-flung capitals. […]… [more]

Features

How Trump’s escalating tensions with China impact investment and development in NYC real estate
The MNS partner on her rebel days in NYC, overseeing 10,000 NYC units and ending a feud with her partner
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