July 2016 Issue

Is NYC’s retail bubble
about to pop?

When 685 Fifth Avenue hit the market two years ago, investors practically lined up around the block. The building’s roughly 25,000-square-foot retail space — which sits on the corner of 54th Street — came with 152 feet of frontage in the heart of Manhattan’s most profitable shopping district. Best of all, the property’s only retail tenant, Gucci, was about to leave, allowing any buyer to sign a new tenant in… [more]

Are retail’s biggest lenders
too exposed?

After a run-up in pricing that even some of the industry’s most bullish observers find head spinning, Manhattan’s luxury retail market is starting to show cracks, and that could put… [more]

Fifth (Avenue) Amendments

Fifth Avenue is not usually a New York City laggard, but it’s been a decade since a major development has gone up on the tony stretch. Back in 2006, the… [more]

Rentopoly: Who owns
New York?

With all of the trades, windfalls, setbacks and wildcards, New York City’s rental market  can often resemble a big round of Monopoly. But in the real world, the wins and… [more]

The Top Agent Bunch

Manhattan’s elite residential brokers aren’t just going after the most expensive listings to stay on top. They’re also recalibrating their business models to include a wider range of clients in… [more]

Breaking up is hard to do

He was the Desi to her Lucy, but the longtime partnership between retail maven Faith Hope Consolo  and her longtime consigliere Joseph Aquino came to a messy head last month… [more]

The Closing: Robert Verrone

Birth date: August 6, 1968 Family: Divorced; four children Lives in: Short Hills, New Jersey Robert Verrone is the founder of commercial mortgage brokerage Iron Hound Management Company , which has… [more]

Stacked against the odds

When it comes to condominium construction, the many tiers of equity and debt needed to get the job done have become all the more complicated. As the amount of money… [more]

The deal junkie

In late March, developer Ben Shaoul arrived at his Upper East Side luxury condo project and began inspecting a model unit. That very week, the Paris Forino-designed… [more]

Navigating the construction lending drought

In November 2014, after more than a decade of political disarray and public disappointment, the first World… [more]

Can developers win in the lending game?

Over the past year, New York’s real estate industry has seen a real peer-to-peer lending boom. A flurry of development firms have launched mezzanine and other… [more]

Bringing romance back to retail

These are not happy times for department stores. The rise of online merchants and discount chains, along with the shift in consumers’ buying habits,… [more]

Brexit backlash: A boon for NY?

Kensington or the Upper East Side? Canary Wharf or Wall Street? Islington or Brooklyn Heights? The modern-day real estate rivalry between London and New York… [more]

Let the hunt begin!

Even as the tech sector continues to blaze a trail through Manhattan, it’s the financial services, insurance and real estate (FIRE) industries that are set to lease the most space… [more]

Editor’s note:
Globalization on trial

The world is getting smaller, and not in a good way. For a while now, the U.S. has been divided between well-educated, diverse cities that have benefited from the global… [more]

Gauging the ‘Airbnb effect’
on seasonal rentals

For those guests who prefer houses to hotels, the Hamptons has always offered numerous rental options, from quaint shingled cottages to sprawling bowling-alley-lined McMansions. But some … [more]

Slamming the door on short-term rentals

Town of East Hampton Rental registry law, passed in 2015 Owners are required to pay a $100 fee, fill out a two-page application that spells out the length of the… [more]

Hamptons home prices still wow

A number of massive residential deals have closed recently in the Hamptons, showing that the East End’s luxury market is still capable of creating new local… [more]

All quiet on the
North Fork front

After a frenetic 2015, the luxury real estate market slowed in the North Fork, the less posh East End neighbor to the glitzy South Fork region where the Hamptons lie. In the first quarter of 2016, the average sales price for luxury properties — those in the top 10 percent of sales — fell 22.7 … [more]

At home with starchitect Richard Meier

The Hamptons will always have a special place in the heart of world-renowned architect Richard Meier. His East… [more]

Inside the deals shaping the East End’s nightlife scene

The churn of eateries in the Hamptons can seem as inevitable as the tides washing up on the local beaches. Last… [more]

Brokerages are on the prowl to snare Hamptons top talent

Compass, a newcomer on the Hamptons real estate scene, scored a coup last October when it hired veteran Ed Petrie away from Sotheby’s International… [more]

Big development plans for the East End, despite impediments

While much of Long Island is known for its suburban sprawl closer to New York City, the relatively rural eastern end of the… [more]

Beechwood doubles down

Michael Dubb, the founder and CEO of the Beechwood Organization — the largest developer of residential housing on Long Island — aspired to become… [more]

Wall Street jitters jostle sales

With its flashy beachfront mansions and trendy designer boutiques, the South Fork is widely viewed as a playground for the rich and famous. Yet below the radar of the eye-popping… [more]

A green light for Riverside’s major revitalization plan

Situated near some of the most valuable real estate in the world, Riverside provides a stark contrast to the Hamptons…. [more]

Hamptons land prices
still soaring

After a flurry of deals in 2015 for some of the rare remaining vacant parcels in the Hamptons, experts say that land prices are still going up, especially for… [more]

The Hamptons summer rental market is running hot and cold

If hope springs eternal, then the record $2.5 million full-season rental listed in Southampton could be exhibit … [more]

What’s it like to live in the nation’s swankiest zip code?

The tiny Village of Sagaponack, a 4.7-square-mile super-wealthy enclave in the Town of Southampton, has a population of fewer than 500 souls. … [more]

Celebs say ‘See ya’ to Hamptons homes

A host of celebrities have put their homes up for sale in the Hamptons — with satirists, singers, TV anchors and tennis stars all getting into the act. Perhaps they… [more]

Supplement

Comings and Goings

Dan Marks has been made a partner at TerraCRG, the Brooklyn-focused commercial real estate brokerage. He was formerly a senior vice president at the firm. His career also includes a… [more]

We Heard

Looking for relief from the stress of city life? There’s an organic app for that — and it’s called a pet. As more and more New York residents deploy the legal… [more]

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