February 2019 Issue

NYC’s residential bosses

UPDATED, Jan. 6, 5 p.m.: Surprise, surprise: A handful of New York City’s residential brokerages — including Douglas Elliman, Compass, Brown Harris Stevens and Nest Seekers International — saw their closed-deal volume skyrocket in 2018. But don’t read too deeply into anything; the showings were likely due to deals locked in pre-2018, before the luxury market started turning in earnest.  In addition, a number of firms saw sales volume tank. And, transactions… [more]

Locking and loading listings

“I had so many difficult conversations with sellers in 2018 that I literally had to go to a voice doctor,” said Compass… [more]

The investment sales reboot

It had been a long two years, but the city’s investment sales market finally turned a corner in 2018. Last year saw the total value of commercial property traded… [more]

OZ overload

It was a telling moment for those fixated on Opportunity Zones. “Who the hell is EJF and their expertise as it relates to … [more]

What’s it worth?
Depends who’s asking

Starwood Capital Group made a… [more]

Elevated risk:
Malfunction at NYCHA

On New Year’s Day, Gina Gutloff and her boyfriend were headed out for breakfast when they stepped into the … [more]

The brokerage king of Queens?

Almost immediately after city and state officials announced their deal with Amazon to build half of its “second … [more]

The Closing:
Bess Freedman

Bess Freedman is the CEO of … [more]

New York’s landslide

In the fall of 2015, Bob Knakal was watching the bids come in for Manhattan land parcels across a portfolio of 40 sites. … [more]

Crash course

U.S. stocks took a beating toward the end of 2018. After reaching an all-time high of more than 26,800 in early October, the Dow Jones Industrial Average fell more than… [more]

Power lunch: Construction big shots talk shop in Gramercy Park

Five construction professionals recently sat down for The Real Deal’s inaugural “Power lunch” feature and discussed a scandal surrounding one of their own. … [more]

Residential market report

NYC’s resi sales slump continues Residential sales in Manhattan dropped 3.3 percent in the fourth quarter of 2018, their fifth straight quarter of decline, … [more]

Commercial market report

Office leasing hits record levels in Manhattan Although 2018 was rough for some segments of the real estate industry, it was a record-setting year for Manhattan’s … [more]

Editor’s note:
Big (really big) Data

The future is now. Old-school real estate players who think tech disruption is an abstraction, or that social media is a distraction, are discovering that it’s getting increasingly hard to… [more]

Retail regroups

Across the country, competition from internet retailers has left the leasing landscape strewn with dark-windowed hulks. Victims include one-time anchor tenants like Toys “R” Us, Sears and J.C. Penney. … [more]

Opportunity Zones
beyond the metropolis

Amid the seemingly incessant buzz in the real estate world about Opportunity Zones, real estate markets around New York City are starting to embrace the investments-for-tax-incentives program born … [more]

Co-working sprouts in suburbia

When Jonathan Manierre and Ryan Doran decided they needed new digs for their growing ad and marketing agency, Turkois, the design duo contacted realtors and did a traditional office search…. [more]

The silver tsunami

Real estate is getting old. If you hadn’t noticed, new senior living facilities are popping up all over the tri-state area. Aging baby boomers are fueling demand as they look… [more]

Famous faces trading places

Even celebrities were not spared from the frustrating effects of a stagnant market when they tried to buy and sell homes in the tri-state area this year. There have been… [more]

Ranking Westchester’s
top luxury brokers

The period between Christmas and New Year’s Day is often a slow one in … [more]

The rental rush

Westchester County is playing catch-up. “We’ve really had very little development over the last 20 years,” said Martin … [more]

Can Greenwich get
its groove back?

The Greenwich real estate market — home to some of the most expensive residential real estate in the country — is emitting some seriously mixed signals. While t… [more]

The long view

More than three decades navigating Stamford’s investment sales market have made Cory Gubner a grizzled… [more]

Garden State gold rush

The hot market for industrial properties in northern New Jersey continued apace in 2018 as the seemingly insatiable demands of e-commerce put a premium on … [more]

Jersey joust

Industrial tenants aren’t alone in the race for space in northern New Jersey. Biotech firms are also feeding demand. “There’s strong demand from [life science] companies, but with the industrial… [more]

Justified in Jersey City

Last year, as the potential L train shutdown loomed over Williamsburg, Joelle Chilazi started fielding more calls from worried Brooklyn residents. Then in November, when Amazon … [more]

Ironstate: Ironclad on development

Ironstate Development Company has doubled down on new projects… [more]

The little town
with the big reputation

Alpine has long been synonymous with luxury real estate in Northern… [more]

Shelter in place

On paper it looks as though Long Island’s office leasing market had a bit… [more]

The decider

When former journalist and Democratic county legislator Laura Curran… [more]

The East End’s
new numbers game

With most of the tri-state area mired in the depths of winter, city slickers hoping to spend the warmer months in luxurious style near the beach are eyeing a… [more]

The Hamptons’ home runs

One mansion sold for $18.7 million and another for $40 million, but the bookends of the 10 priciest home sales on Long Island’s East End last year told the same… [more]

Editor’s note: Welcome aboard

Greetings, all four corners of the Tri-State kingdom! Like thousands of Tri-State residents who ride Metro-North, New Jersey Transit and the Long Island Rail Road, this train is officially leaving… [more]

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