February 2020 Issue

Contending with Manhattan’s condo crunch

How luxury condos planned at the peak of the market became deadweights for developers in an era of uncertainty

It was set to be the tallest condo tower in Lower Manhattan, capped with a ring of golden bands that arched toward the sky. But as the new year arrived, with the high-end condo market in freefall, developers Madison Equities and Gemdale Properties pulled the plug last month on their 1,115-foot supertall at 45 Broad Street, citing “market conditions.” In the previous quarter, sales in the Financial District sank almost… [more]

Mondo condos

Breaking down Manhattan’s four biggest projects of this cycle by sold and unsold units

The Real Deal broke down the sales data on the largest condominium projects of the current cycle by how many units are sold, in contract or unsold to show how… [more]

De Blasio’s housing headache

With two years left on his $41 billion housing plan, the mayor is grappling with a string of setbacks

Five months into his mayoralty, Bill de Blasio blasted out a press release that quoted 80 elected officials, developers and… [more]

The mayor’s “affordable mix”

These are the city’s largest projects with income-restricted units

Many of the largest projects with affordable housing approved under Mayor Bill de Blasio’s watch are in Manhattan, according to data from the city’s Department of Housing Preservation and… [more]

How big can Brookfield get?

After swallowing Forest City and digesting dozens of shopping malls, the Canadian colossus still has an appetite for growth

You don’t become the city’s biggest commercial landlord without taking some big risks. Buying malls when… [more]

After Amazon

One year later, ill-fated HQ2 project leaves afterglow on LIC, pall over city

For a while, people thought Josh Schuster, the managing principal of Silverback Development, was a genius. Just a few weeks after Amazon announced in late 2018 that it would open… [more]

The Closing: Michael Gianaris

The New York State Senator and “Amazon slayer” on his Greek pride, facing off against real estate and rooting for Bernie Sanders

State Sen. Michael Gianaris has been an elected official in New York for the past 20 years and became one of the… [more]

The big brokerage squeeze

Pressures on all sides are forcing resi firms to consolidate, slash costs and even — gasp — work together

Corcoran is consolidating. Compass is making lay offs. Residential firms are going lean. Call it a sign of the times… [more]

EB-5 from the other side

The Real Deal met with EB-5 investors in Shanghai to hear their side of the story. This is what we learned.

They would be known to each other only by their noms de guerre: Mecky, Mr. Xu, Julie, Mr. Li, Richard, Jenny and Big Sis…. [more]

Editor’s note:
Déjà vu all over again

A decade ago this month, I wrote an editor’s note about the state of the condo market in Manhattan. It was February 2010, during the Great Recession, and things were… [more]


Breaking down the governor’s “Empire Station” proposal and what it means for local property owners
Real estate scion Robert Durst goes on trial for one of the murders he is suspected of
The Industrious CEO on schmoozing landlords, working out and starting his day the night before
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

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