February 2020 Issue

Contending with Manhattan’s condo crunch

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

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

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”

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?

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

After Amazon

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

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

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

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]

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