January 2016 Issue

The Future of NYC real estate

Kinetic buildings and 2,000-foot skyscrapers are just around the corner

The Hudson Yards Culture Shed, a yet-to-be-built arts and performance space at 10 Hudson Yards, just might wind up being the Batmobile of buildings. Dormant, it’s a glassy fortress. Animated, it will be able to extend its wings so-to-speak by sliding out a retractable exterior as a canopy. The design is a window into the future of New York City construction — and the role technology will play. This isn’t… [more]

TRD predicts what NYC will look like in 10 years

From skyline wars to building on water, a look at the big real estate projects and trends that may be at the forefront of the industry in a decade

What can happen in 10 years? Well, a decade ago, “Billionaires’ Row” had yet to enter the real estate lexicon…. [more]

The city that Shelly built

Dissecting the real estate legacy
of the-once-powerful-but-now-
disgraced Assembly speaker

Sheldon Silver may have had just one vote, but a “no” from him carried more weight than any other politician in the state legislature. For developers, it could be the… [more]

Who’s winning the Brooklyn office battle?

New mega complexes, from Dumbo Heights to the Empire Stores go
head-to-head in the borough’s
fierce fight for tenants

In the Brooklyn office market, the race is on. Builders of massive developments in former industrial districts are feverishl… [more]

Can you say UES
building boom?

With the Second Ave. subway finally coming due, TRD maps out all of the resi projects that timed it right

For years, the promise of a Second Avenue subway line has tantalized residential developers who have been hungrily eying the stretch of the Upper East… [more]

Construction giant builds
new platform

Lend Lease has spent years erecting high-profile projects for others, but is now pushing into the NYC development game in its own right

t’s hard to miss Melissa Burch. For starters, as a top executive at construction giant Lend Lease, she’s a woman operating… [more]

NYC’s in-house powerhouses

Behind the scenes with the agents who are in the quiet-but-high-stakes game of selling Manhattan’s priciest condos

In February 2012, sales agents Dan Tubb, Jeannie Woodbrey and Emily Sertic brokered what could be considered the deal of a lifetime. They locked in a buyer for a sprawling… [more]

Has Soho lost its mojo?

Retail availability rises to 20 percent in third quarter of 2015

At first glance, retail in Soho, one of New York’s biggest and trendiest shopping districts, looks to be as robust as ever. On any given weekend, the big-name stores that line Broadway and West… [more]

Real estate’s tech arms race

The cutthroat world of launching a new industry tech startup, from venture funding to hackathons

Anyone who has banked online, shopped on Amazon or shared digital photos recently can understand why real estate firms are clamoring for new technology. It’s been a decade since the… [more]

Welcome to real estate’s
tech graveyard

You might not hear about it, but
there are plenty of industry
startups dropping like flies

The failure rate for startups is high — anywhere from 75 percent to 90 percent, according to industry estimates. And if that weren’t enough, here’s another … [more]

Who’s bankrolling real
estate’s tech boom?

The money behind the startup sector. Think Rudin, LeFrak and Wilpon

Roughly $1.5 billion flowed into real estate tech companies in 2015, and those funds came from an increasingly diverse pool of investors. In addition to about a dozen venture capital… [more]

Could these new technologies change your world?

The next game-changing startups
are anyone’s guess, but these
five have promise

Every real estate startup under the sun is looking to become the industry’s next tech mainstay, but not every one makes the cut. The Real Deal sifted through… [more]

The Closing: Frank Sciame Jr.

The construction CEO on buying Katherine Hepburn’s house, investing in Broadway and his ‘other woman’

Born: May 3, 1951 Lives in: Locust Valley, Long Island Family: Married for 40 years; Four children Sciame founded his eponymous construction company in 1975 and to date has completed… [more]

2016: The year of the slowdown?

TRD hits up a cross section of experts to get their best predictions and biggest concerns for the New Year

On the Chinese calendar, 2016 is the year of the monkey. But in the NYC real estate market, could it be the year of the slowdown? This month, The Real… [more]

The sovereign wealth
ruling class

TRD deep dive: How much are these nation-based global funds really shelling out for NYC real estate?

t’s always good to have deep pockets, but few institutional investors carry checkbooks backed by entire nations. Yet point to one of New York City’s recent big-ticket… [more]

An alien within

The museum’s new addition may
look tame on the outside, but the
inside recalls an ‘alien landscape’
or ‘fun house

Few people have been as kind to the Upper West Side as finance bigwig Richard Gilder, who sits on the boards of the New-York Historical Society and the… [more]

Manhattan’s hospitality blues

The borough’s hotel industry suffers first decline in years

In 2015, Manhattan was a little less hospitable to hotel owners than it was in 2014. Indeed, at the end of last month, Manhattan’s $8 billion hotel market was on track to see its first decline… [more]

The interest rate upshot

Brokers take sides on how the Fed’s
much-anticipated rate hike will
impact the NYC market

New York City homebuyers have been hearing about a possible interest rate hike for several years now, but just how much different will the post-hike landscape be for the market… [more]

Rising home prices spur
equity growth

Homeowners gain financial flexibility

Here’s some housing cheer for the end of the year: The stock market may have taken people’s 401(k) and other funds on scary rides in 2015, but new data from the Federal Reserve suggests… [more]

Back to the future

The 19th century philosopher Kierkegaard once said, “Life can only be understood backwards, but it must be lived forwards.”
The statement applies to both the start of a new year and the January issue of The Real Deal, in which we thoroughly try to understand what the future of New York real estate holds as well as… [more]


Is it possible to build a NYC development these days
without including a food hall?
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
The trendsetting broker on her days as a cub sports reporter, on witnessing a plane crash and on NYC’s antiquated high-society Social Registers
A roundup of real estate-related happenings
from last month
Shirian on growing up in real estate, developing
Long Island City and tenant horror stories
Real estate pros share picks for books on the Holocaust, love and duty and more
The funniest and most insightful comments
on real estate

Comings and Goings

Jay Kreisberg joined ABS Partners as director of property management. Kreisberg will oversee office, retail and multifamily properties operated by ABS across NYC. Laurel Lantz joined Rose Associates as director… [more]

We Heard

For “Million Dollar Listing New York” star Ryan Serhant, real estate is becoming a family business. Serhant’s fiancée, Emilia Bechrakis, a Greek attorney for a container shipping company, has jumped… [more]

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