The Real Deal New York

January 2014

Ringing up the register

The top owners, brokerages and deals in NYC retail

The genie is long out of the bottle on the money-making potential of New York City’s white-hot retail market. But what better time to assess the state of the market than right after the sector’s crucial holiday shopping season? Plus, investors, brokers and retailers are just coming off the International Council of Shopping Centers’ New York National Conference, which The Real Deal live blogged from last month. At the event, […]… [more]

The Syrian retail touch

An inside look at the Syrian Jewish investors dominating NYC retail — from Sutton to Sitt, including how much revenue they’re pulling in

If you trace the origins of the most aggressive retail deals in the last dozen years in Manhattan’s high-profile shopping districts, most lead back to Brooklyn. On Upper Fifth Avenue […]… [more]

The unglamorous $40M buyers

Buyers in NYC's highest price ranges are often not bold-faced names, but billionaires in obscure fields like nut-and-bolt manufacturing

Forget fame and glamour: The buyers of Manhattan’s most costly real estate are often not the boldfaced names that appear in the gossip pages. Those spending $40 million or more […]… [more]

Steve Witkoff

Witkoff: the savvy strategist

The developer’s plan for juggling $1.5 billion in projects involves turning on a dime

It was the kind of chance encounter Steven Witkoff could only have dreamt about back when he was a young attorney pulling 90-hour workweeks at Dreyer & Traub in the […]… [more]

It’s getting hot (and
crowded) in here

A look at the top brokerages in NYC’s sizzling retail sector — and the new firms getting into the fray

Even as firms consolidate in New York City’s commercial brokerage industry, the subset of Manhattan retail is growing increasingly fractured as more players try to get a piece of the […]… [more]

Manhattan office leasing ends 2013 with a bang

High-profile deals were signed in all three major markets

December was a robust month for office leasing in Manhattan, with high-profile deals signed in all three major markets of Midtown, Midtown South and Downtown. As of Dec. 27, a […]… [more]

James Kuhn (Photo by STUDIO SCRIVO)

The Closing: James Kuhn

James Kuhn is president of the commercial brokerage Newmark Grubb Knight Frank. He joined Newmark & Company Real Estate in 1992, after 15 years of owning and managing real estate […]… [more]

De Blasio: Year One

De Blasio: Year One

It’s no wonder that when the dust settled on the Democratic mayoral primary some 15 months ago, the real estate industry eyed candidate Bill de Blasio with some measure of […]… [more]

A drop at the top

2013’s priciest closed residential deals surprisingly pale in comparison to 2012’s

With the New Year underway, it’s time for a post-mortem on last year’s residential market. And in an unusual twist, industry insiders who normally rely on statistics to understand the […]… [more]


  • Nikki Field
  • The month's funniest quotes
  • Counting Chinese cash
  • Daniel Blanco
  • The month in review
  • TRD's interactive puzzle

Frank McCourt’s new ballgame

Recent deal-making by the ex-Dodgers owner and real estate mogul may be just the start of a larger Big Apple property portfolio

Los Angeles Dodgers owner Frank McCourt’s face was splashed all over the L.A. newspapers in the summer of 2011. The Boston-born real estate mogul’s two very public fights — to […]… [more]

The office building comeback

Buoyed by revival of leasing, commercial buildings dominate 2013’s top 10 investment sales list

Increased availability of debt and an uptick in office rents drove demand for large Manhattan office towers in 2013. The top 10 priciest building sales of the year included nine […]… [more]

Broker vs. broker: How low can you go?

In inventory-starved market, sellers push agents to reduce commissions

The Manhattan residential inventory crisis is forcing brokers into a tight corner when it comes to negotiating commissions and terms of exclusive agreements with sellers, brokers told The Real Deal. […]… [more]

A rendering of retail space at Hudson Yards (Photo credit: Visualhouse)

Hudson Yards retail gets underway

Related’s sprawling plan for the Far West Side hits new milestones, with construction and marketing of store space set to begin this month

About 750,000 square feet of pricey retail space is hitting the market in the next few weeks, as the Related Companies formally starts its search for tenants at its Hudson […]… [more]

De Blasio’s ‘taxing’ choices

With limited options for closing revenue gap, NYC’s new mayor may eye changes to real estate taxes

Mayor Bill de Blasio’s campaign pledge to pay for universal pre-school by hiking income taxes on the wealthiest New Yorkers is likely to come up against election-year politics, with Gov. […]… [more]

Book review: Chelsea Hotel unmasked

‘Inside the Dream Palace’ provides poignant background, but leaves out crucial real estate history

The Victorian hulk of the Chelsea Hotel looms over West 23rd Street, as imposing a façade as it is a symbol of New York City’s cultural legacy. In its 129-year […]… [more]

H&M's largest NYC store is located at Herald Center.

Retail’s ‘crystal ceiling’

International clothing brands, gyms and high-end supermarkets make up top 20 leases as rents soar

With record numbers of residents and tourists filling the streets, New York City retail rents cracked what might be called the “crystal ceiling” in 2013, when asking rents for the […]… [more]

U.S. housing values soar in 2013, boosting owners’ equity stake

As housing market sees a record rebound, more than 3 million owners move to positive equity status

The biggest story in American real estate in 2013 hasn’t gotten the attention it deserves, so let’s shout this out: Homeowners’ net equity holdings soared by $2.2 trillion between the […]… [more]

A building with broad shoulders

Related and Robert A.M. Stern take modest look to new extreme at High Line rental

Robert A.M. Stern has long been associated with the historicist strain of contemporary architecture. But he would likely insist that his goal is contextualism — the creation of buildings that […]… [more]

Shaun Osher and Barbara Fox

Lowering expectations for 2014

Sure, nobody knows what’s actually going to happen in the New York City residential real estate market in the New Year. But it’s still fun to guess. In this month’s […]… [more]

Editor’s note: Retail’s redemption

It wouldn’t have been difficult to imagine a couple of years ago, when bookstores and record chains were closing en masse, that online shopping could seriously cripple the New York […]… [more]