The Real Deal New York

December 2014

What to watch in 2015

From sky-high prices to REBNY’s executive search,
the issues to watch in the year ahead

After the frenzied sales of 2013, New York City’s real estate market didn’t miss a beat in 2014 — though its pace showed signs of stabilizing, even as prices reached new heights. Despite the overall market’s widely-described return to “normal,” the co-op market saw its record for the priciest residential sale toppled three times: In September, hedge-fund manager Israel Englander paid $71.3 million for a duplex co-op at 740 Park […]… [more]

December 2014
The Real Deal magazine

Spitzer takes reins
following father’s death

Former governor secures second development site on Far West Side and has hand in distressed Williamsburg plot as firm ramps up activity

Now more than ever, the “Spitzer” in Spitzer Engineering refers to son Eliot, the fallen governor who continues his efforts to reinvent himself as a real estate mogul. Bernard Spitzer, […]… [more]

Ranking Manhattan’s
biggest retail buyers

As the busiest shopping season unfolds, a look at who’s acquired
the most retail space

With Upper Fifth Avenue snatching back from Hong Kong’s Causeway Bay the title as the world’s most expensive retail district, aggressive bets made in Manhattan by local investors seem to […]… [more]

Brokers’ winding paths

Talent twists and turns as NYC residential firms poach from each other

Brokers aren’t the kind of people who sit still. Whether they’re showing properties, meeting with developers or “networking” at a boozy industry event, brokers are constantly on the go. And […]… [more]

Listing sites battle
to control national market

The fight is on to gain market share with billion dollar acquisitions; a look at the impact on NYC and StreetEasy

Both veteran real estate companies and well-funded newcomers are scuffling over listings websites, each aiming for an acquisition that will provide new streams of revenue, as well as access to […]… [more]

Re: Cap

A roundup of real estate-related happenings last month

Developer Ofer Yardeni warns: the residential market is in a bubble that is about to pop! Also, called the High Line “completely overrated.”… [more]

The Closing: Leonard Boxer

From the LeFrak Organization to Donald Trump, most major real estate developers in New York have called upon attorney Leonard Boxer at some point over the last five decades. Boxer […]… [more]

Features

  • Checking in on the massive construction effort at Hudson Yards
  • Joseph Tahl
    of Tahl Propp Equities
  • The funniest and most insightful comments
    on real estate
  • Jay Valgora

Spurring slow-season sales

As new development deals cool off, marketers are throwing in add-ons

Despite the gusto exhibited by the New York City residential market in recent years, developers are now more likely to throw in add-ons to sway prospective buyers of new development […]… [more]

A stretch of Soho comes
into its own

Lower Sixth Avenue sees new building as neighborhood expands

The southernmost leg of Sixth Avenue has been more of a place to pass through than to visit since the 1920s, when the city blasted subway lines through parts of […]… [more]

ICSC unites at Javits

Mall giants Westfield, GGP,
rejoin retail show after hiatus

The second-most important show for New York’s retail dealmakers is moving from a disjointed layout spread among several hotels in Midtown to a single location at the giant Jacob K. […]… [more]

Atlantic City’s crap shoot

With gambling on the decline, seaside city looks to roll the dice on life after large casinos

Atlantic City is looking back to its heyday for a map to the future. But the city’s collective eyes are focused, not on its height as the East Coast’s gambling […]… [more]

A touch of glass on Lex

C3D Architecture’s new residential design brings a handsomeness
to an undistinguished strip

The design for 229 Lex brings openness and elegance to a largely undistinguished strip… [more]

Betting on the Bed-Stuy boom

Climbing prices and new developments are signs that record growth
could continue

The recent popularity of Bedford-Stuyvesant is in many ways a mirror of much of Brooklyn; record prices — in Bed-Stuy’s case, condos that top $1 million — and an increasing […]… [more]

Acro-rate-o-phobia

Fear of rising interest rates is pushing more buyers into the NYC market

A fear of rising interest rates in the months ahead is prompting some homebuyers to jump into the sales market — putting pressure on brokers to turn deals around quickly […]… [more]

Industry honors TRD publisher

The industry’s leading lights came together last month to honor The Real Deal’s Amir Korangy for his commitment to supporting families of seriously ill children. Korangy received the Child’s Champion […]… [more]

What they’re reading now

Real estate pros share their pick
of books for business and fun

Where do you look for inspiration and insight? This month, The Real Deal polled leaders in the industry to find out what they’re reading, how the book was recommended to them […]… [more]

Government briefs

Lower Manhattan’s Fulton Center, where nine subway lines converge, reopened last month, more than a decade after the Sept. 11, 2001, terrorist attacks destroyed part of it. As many as 300,000 passengers a day are expected to pass through the station, the New York Times reported…. [more]

Easing condo lending

Helping millennials and seniors access the red-hot market

Call it the condo conundrum: In many urban areas nationwide, demand for condominium units is rising, according to new real estate industry estimates, yet mortgage financing for entry-level condo buyers […]… [more]

Stodgy firms are hot again
in 2014

Law and financial firms rise back to the top of the list for big Midtown leases

Midtown’s old stand-by finance and legal tenants are back on top after being displaced last year by the “hotter” firms in the technology, advertising, media and information sector. Seven of […]… [more]