The Real Deal New York

January 2015

Who’s heading to housing court?

TRD’s first-ever look at the Manhattan landlords
with the highest rate of tenants in Housing Court

The suspicion, anger and lack of trust over money can make the atmosphere at 111 Centre Street in Lower Manhattan seem a lot like divorce court. But the sparse halls and windowless hearing rooms of Housing Court are filled with the emotional energy of squabbling landlords and tenants. Landlords turn to the courts to oust troublesome tenants, nonpaying tenants, and, in some cases, low-paying tenants. In the vast majority of […]… [more]

January 2015
The Real Deal magazine

New condo sales
hit a new pace

Brokers say lack of urgency among buyers and influx of new product
is slowing market

As 2014 wound down, a curious trend emerged among real estate heavyweights. Even amid a new development sales boom, one top developer after another voiced concern about the ultra-high segment […]… [more]

25 over $30 (million)

2014’s 25 largest sales each topped $30 million; records shattered
in co-op deals

Last year’s residential market got most of its buzz from developers racing to build luxury condos, but it was eye-popping co-op sales that shattered records in 2014. The priciest purchase […]… [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]

New buyers, one broker rule in 2014 building sales

Eastdil Secured the only seller’s broker to handle the priciest deals

Low interest rates, brisk sales, a more active commercial mortgage-backed securities market and white-hot land prices helped drive a surging investment sales market in 2014 — and one of the […]… [more]

The Closing: Don Peebles

Since launching Peebles Corp. nearly three decades ago, Don Peebles has developed six million square feet of real estate in Florida, California, Washington, D.C., and, for the past three years, […]… [more]

Global gloom props up dollar …and NYC real estate

Too early to call impact
of plummeting ruble

The strength of the greenback against other currencies is not weighing down foreign interest in New York real estate. Instead, international investors are even more likely to now view brick-and-mortar […]… [more]

Re:Cap

A roundup of real estate-related happenings from last month

30 Hudson Yards may have a high-floor walkway that … tilts. Related president Jay Cross said of it recently, “You can choose to pay for it separately and crap your pants.”… [more]

Altared sites:
Soon-to-be-dark churches stand on enticing ground

For many Catholics, the sweeping decision made by church officials to merge about 40 parishes in New York City came as a tough blow. Come summer, when the restructurings plans […]… [more]

Features

  • With a waiting list of 100 tenants, Brooklyn industrial park races to grow
  • Karim Rashid
  • The funniest and most insightful comments
    on real estate
  • Hap Investment CEO talks about his daughter’s takedown of architect/designer Karim Rashid, checking out potential development sites and boxing for fun
Anthony Orso

Taking on the big guys
at Cantor Commercial

Young firm originates $10B in loans
for 2014, double the year before

Lining a windowsill in Anthony Orso’s office at Cantor Commercial Real Estate are dozens of statuettes — deal toys, he calls them — one for each of the $8 million […]… [more]

Bracing for rising interest rates in all corners of real estate

From residential to commercial
to construction, a look at where loan prices stand

Most observers last year predicted that interest rates would rise in 2014 as the Federal Reserve removed its stimulus, but the exact opposite happened. Rates are lower now than they […]… [more]

Adding a cherry on top

In the Meatpacking District,
penthouse additions keep coming

From the very beginning of urban coexistence (or at least from the moment when mankind came up with the bright idea of living somewhere other than the ground floor of […]… [more]

From left: Julia Boland

Contingencies come back

Non-starters a year ago, more buyers negotiate for deals dependent
on mortgage financing

For the latest sign that Manhattan’s residential market is returning to normal after last year’s frenzied pace, look no further than sales contracts, where 30-day mortgage contingencies are experiencing a […]… [more]

Code-and-flue season

New construction guidelines (2,500 pages, anyone?) make developing smaller units in NYC into a headache

While the square foot is the measure on many industry minds, real estate is often a game of inches: from plans for the length of a kitchen counter to the […]… [more]

Is more partying ahead,
or a hangover?

After the close of a banner year,
real estate pros weigh in on outlook
for 2015

There was plenty of Dom to go around on New Year’s Eve, with both the commercial and residential sides of the New York City market having racked up a year […]… [more]

Palm Beach's Worth Avenue compares with Fifth Avenue.

Where to buy when it snows

Seven second-home destinations
for New Yorkers

If the frosty start to the season is any indication, predictions are on target for a colder- and snowier-than-normal New York winter. Gothamites unable to endure slogging through another slush […]… [more]

Ridgewood Rising

Bushwick spillover helps boost rents
in (gasp!) Queens

Once upon a time, the neighborhood of Ridgewood, Queens, was part of the borough of Brooklyn. Residents, however, were happy to put that history behind them. … [more]

The symphonist of steel

For one of the busiest architects in the world, the 63-year-old Santiago Calatrava projects an aura of enviable leisure. The Real Deal visited him recently in his sumptuous home/office, formed […]… [more]

Finally, looser lending

New Freddie, Fannie policy changes support smaller down payments,
more gifting

When it comes to buying a home, many feel that they are in the “no way I could possibly qualify” category. Obstacles include not enough cash in the bank for […]… [more]

What they’re reading now

Real estate pros share their pick of books about tough leadership and NYC architects with a scandalous past

Where do you look for insight and inspiration? To find out, The Real Deal asks leaders in the industry what they’re reading. Diane Ramirez CEO, Halstead Property What are you reading […]… [more]

Out with the old
in Midtown South

Long-time tenants looking elsewhere
as availability tightens

An office neighborhood does not change its character suddenly. Even as technology firms in recent years snapped up many of the new spaces in Midtown South and rents escalated in the […]… [more]

The Rivergate Apartments

Government briefs

Snapshots of government-related
real estate news

The Landmarks Preservation Commission dropped its recent plan to remove 94 structures and two historic districts from the agency’s oversight. Of the more than 100 … [more]

Editor’s note:
Real estate’s new era

This month marks the end of the first year of a new era in New York City real estate, mirroring a new period for the whole city. It’s the first […]… [more]