The Real Deal New York

December 2016 Issue

Welcome to Trump Land

A maze of policies, agendas, real estate allies
and conflicts has kept the president-elect’s plans
a total mystery

Donald Trump’s upset victory over Hillary Clinton has taken the country — and the New York real estate industry — on a rollercoaster ride of a lifetime in the last few weeks. And few know what his presidency will really look like once he takes the oath of office next month. But one thing is certain: The next four years will shape Donald Trump’s legacy more than any condo tower, […]… [more]

Trump’s conflict web

A sweeping look at the president-elect’s worldwide business ties and entanglements — from his D.C. hotel to his love affair with Russia

Two weeks before his upset White House victory, Donald Trump broke out the golden scissors for a ribbon-cutting ceremony at the Old Post Office building in… [more]

The Trump whisperer

In the wake of his father-in-law’s impossible victory, Jared Kushner has left the industry speechless

As a gangly high school student, Jared Kushner did what most long-limbed kids of his size did: He joined the basketball team. The Frisch School, a well-known private Jewish school […]… [more]

The sloppy 421a dispute

Bringing back the city’s most controversial tax break has been a messy lobby war behind closed doors since the outset

Since June 2015, the fate of 421a has lain not with the New York State Legislature, which oversaw its renewal for more than four decades, but with two of the […]… [more]

Manhattan’s top retail brokerages

As the Manhattan market slows, big firms get bigger and small firms lose market share

It’s a tough time to be a retail broker in Manhattan — especially for those at smaller shops. As the borough’s leasing market continues to slow after its red-hot streak […]… [more]

Battered but not beaten

Following the retirement of its founder and a series of setbacks, is the Dermot Company finding its stride again?

When the Dermot Company’s founder, Bill Dickey, retired in June 2015, the firm’s latest and largest project to date was an incomplete structure hovering 30 stories above the ground. The […]… [more]

NRT’s Liebman love affair

Struggling corporate giant eyes Pam Liebman for a bigger job, but Corcoran chief says she’s staying put —
at least for now

Barbara Corcoran made her name with the sale of her eponymous firm for about $70 million in 2001. As a 51-year-old former receptionist who started the firm… [more]

The Closing: Cyrus Vance Jr.

The Manhattan D.A. on what Michael Shvo’s indictment says about the real estate industry, meeting President Lyndon Johnson, and achieving
fly-fishing zen

Cyrus Vance Jr. is heading into his seventh year as Manhattan’s district attorney, a job that brings roughly 100,000 cases… [more]

Flushing’s growing pains

With an overtaxed infrastructure and thousands of condos in the pipeline, can the Queens enclave sustain the housing boom?

These days, Flushing is like a teenager undergoing an awkward growth spurt. Driven largely by a skyrocketing Chinese population, the Queens … [more]

Can NYC’s aging hotel
boom find new life?

Albany throws hoteliers a bone, retailers check in, and micro units
catch fire

Even as tourists and business travelers flock to New York City in growing numbers, hotel operators face two looming threats — the dollar’s strength and a wave… [more]

Dressing up the High Line

With his design for HFZ, Bjarke Ingels departs from his radical roots

Bjarke Ingels, the principal architect of BIG (Bjarke Ingels Group), must get tired of people marveling about his relative youth. Even today at 42, an age when most of his […]… [more]

Bring it on, Mr. President

Fears of Trump missteps add new volatility to Manhattan’s luxury
condo market

n the days following the presidential election, clients called Compass President Leonard Steinberg nonstop. Emboldened by Donald Trump’s upset victory, some clamored to pour money… [more]

Big gains, small deals

Wave of firms snap up small rental buildings in Brooklyn and Queens, driving up prices

A recent surge among a handful of professional real estate owners buying up small apartment buildings in Brooklyn and Queens is sparking a sea change in that market. All told, these […]… [more]

Editor’s note:
Our builder-in-chief

Has capitalism finally eaten democracy? It might seem that way with the ascension of the first billionaire NYC real estate mogul to the office of the President of the United […]… [more]

Features

A new owner checks in at the pricey, long-running renovation project
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
The developer on working out of Rockefeller’s former digs, his ‘easiest’ real estate deal, and his love affair with koalas.
A roundup of real estate-related happenings
from last month
The East West Bank executive on cross-country commuting, glazed pork shoulder, and lending on all property types
Real estate pros share picks for books on the pursuit of courage, 19th-century Brooklyn and time management
The funniest and most insightful comments
on real estate

Comings and Goings

The New York Building Congress has named Carlo Scissura its new president and chief executive officer. Scissura, who will take over on January 1, 2017, succeeds Richard Anderson, the leader […]… [more]

We Heard

For 85 years, Rockefeller Center has erected a gigantic Christmas tree near its ice rink. The building’s head gardener spends months in advance scouting potential candidates and uses an in-house […]… [more]