The Real Deal New York

June 2016 Issue

Millennial City

How the ‘selfie’ generation is revolutionizing the real estate game in the Big Apple

Mention the term “millennial” and you may as well run for cover. The generation of young adults who came of age during the financial crisis — and in the glare of social media — is both lauded for embracing innovation and social responsibility and despised for being lazy and self-indulgent. But the sheer numbers make millennials — those born between 1981 and 1997 — all but impossible to ignore. Currently […]… [more]

The Hamptons horse race

Which towns are going strong and which are falling flat?

For many New Yorkers — whether they travel by Jitney or private helicopter — summer in the city would be a foreign concept without weekends in the… [more]

How high can
Michael Stern fly?

With a softening market and two
of NYC’s tallest residential towers
in the works, the developer is
taking riskier bets

Like Manhattan’s jagged skyline, the history of its real estate industry is shaped by steep rises and swift falls. There is… [more]

Toledano’s fast and rocky ride

At 26, Raphael Toledano has gone from being a high school dropout waiting tables to one of the East Village’s biggest landlords

Raphael Toledano has difficulty staying still. On a recent afternoon, the stubble-faced real estate wunderkind sat in his office, dressed in a black suit and leather slip-on… [more]

Manhattan’s hotel wars

A look at what three key hotel sectors are doing to stay competitive in a softening NYC market

Manhattan has a hotel room for every budget, whether it’s at a marquee address with $10,000-plus nightly rates or a no-frills establishment on a nondescript side street. But each of […]… [more]

Ryan Serhant unscripted

The reality TV star and powerbroker has hit a new career high — but how real is his success?

In the span of 72 hours in early May, reality-TV star and top New York City residential broker Ryan Serhant put two units under contract at 100 Avenue A in […]… [more]

The great escape: NYC developers who are breaking into other markets

Oregon, Utah and Colorado are some of the areas seeing investment

More than 2,000 miles from his office on Third Avenue, Gary Barnett is quietly buying up acres of land in a locale that might seem worlds away for New York’s […]… [more]

The Closing:
Robert Gladstone

The developer on ‘shooting off’ his mouth, losing out on a Hamptons windfall and his days as a hippie

Robert Gladstone is the owner of Madison Equities, a Manhattan-based development firm founded in the 1960s by his parents, Kenneth and Lucille Gladstone…. [more]

Skanska’s NYC blueprint

How the construction juggernaut became the city’s primary
infrastructure builder

LaGuardia Airport, which last year saw nearly 30 million travelers, is one of the most derided transportation hubs. It’s been compared to a Third World country, criticized for its outdated […]… [more]

Rafael Viñoly: The pragmatist of Park Avenue

The world-renowned architect talks to TRD about designing for the 1 percent and the industry’s ‘artist’ complex

There are few parts of Manhattan — or even the outer boroughs — where 432 Park Avenue, rising in all its geometric perfection, is not visible. For that reason and […]… [more]

Luxury rental throwdown

As supply surges, experts say to expect concessions but differ on which neighborhoods will get hit the hardest

After experiencing an incredible run-up in prices over the last five years, the NYC luxury rental market may be finally hitting a ceiling.  “Last September is when things started to […]… [more]

West Side island escape

Pier 55, the soon-to-be-built floating park on the Hudson River, seeks to embrace nature with artifice

Last summer, when the weather was especially pleasant, I decided to walk along the Hudson River from 72nd street, near where I live, all the way down to Battery Park. […]… [more]

Mini office space grows in Brooklyn

The Downtown office boom encourages landlords in other parts of the borough to follow suit — on a smaller scale

The Brooklyn neighborhoods outside of the borough’s Downtown business hub are having their own office party. Many of those neighborhoods are seeing… [more]

Editor’s note: Millennial mania

It’s a young person’s world. And that is just as true in real estate as it is anywhere else. The constantly buzzed-about millennial generation is shaking up New York City’s […]… [more]

Sticker shock

Rising luxury home prices have spurred competition among top brokerages courting affluent buyers

By one measure, New Jersey’s residential market is robust, as rising sales are putting a dent in inventory. Yet the price tags on some luxury homes are giving buyers… [more]

Gauging the limits of Jersey’s luxury residential market

A look at the biggest home sales
and the biggest listing cuts
in Bergen County

For even well-off Manhattanites, the dream of raising a family in a traditional single-family home with a white picket fence, minivan, puppy and two or more… [more]

Barry’s world

Ironstate Development’s David Barry, one of NJ’s biggest developers, on Jersey City’s past, present and future

As a New Jersey native, David Barry has seen countless changes along the Hudson River. Less than two decades ago, Jersey City’s waterfront was primarily used as a shipping hub […]… [more]

Land ho!

New Jersey’s Gold Coast is seeing record prices but sales volume is showing signs of slowing in 2016

The Gold Coast of New Jersey has gotten so hot for developers in recent years that in many areas near the waterfront there is hardly any land left to go […]… [more]

Don’t call us Brooklyn!

Are Hoboken, Newark and Jersey City really the next Brooklyns? Not so fast...

It’s no secret that Brooklyn has experienced a transformative renaissance in the past decade. And while many cities in and around the New York metro area seek to have their […]… [more]

Playing both sides
of the Hudson

SJP Properties continues massive building streak in NJ, despite a
growing list of Manhattan projects

Steven Pozycki is Jersey to the core. So is the firm he founded, SJP Properties, long based in Parsippany, New Jersey. So it surprised some industry insiders… [more]

Trump’s New Jersey successes and blunders

The likely Republican presidential nominee has made some big bets
on the Garden State

The Republican front-runner and celebrity real estate mogul may be from Queens, New York, but for the last three decades Donald Trump has made it his mission… [more]

Hitting home

Foreclosed properties that originated in the housing boom are still on the New Jersey market

Headlines about the wave of foreclosures that swept the country a few years ago have begun to fade from memory. Yet in New Jersey, foreclosures that originated in the housing […]… [more]

New projects in new nabes

New Jersey’s developers branch out after smelling success on the waterfront

As the local economy continues to shake off the aftereffects of the previous recession, New Jersey developers have begun pouring money into big-ticket projects slated to put millions of new […]… [more]

Building boom forces developers to reach
for financing

Lenders are demanding a higher portion of equity in development deals

Developers hoping to get in on the boom rolling across Northern New Jersey may have a tougher go with lenders than they did a couple of years ago. While the […]… [more]

Obsolete office parks?

Examining the future of NJ’s suburban corporate sprawl

With an increasing number of companies moving toward urban cores, the future of New Jersey’s sprawling suburban office parks and large corporate plazas is in question. The Garden State, in […]… [more]

Timeshare trials and tribulations

New Jersey’s vacation home sharing culture looks to the north for salvation

When New Jersey voters go to the polls on Nov. 3, they will be asked — among other things — to approve the licensing of two new casinos in northern […]… [more]

Celebs aren’t immune
to price cuts

Even the stars have to contend
with the real estate forces at play
in today’s market

Celebrities have been slashing prices on their Jersey crash pads, with actors, singers, talk show hosts and quarterbacks all in search of deep-pocketed buyers…. [more]

Supplement

Features

Post-Hurricane Sandy, Coney Island begins another redevelopment ascent
The funniest and most insightful comments
on real estate
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
The Hamptons powerbroker on her working-class roots, boots over stilettos and being No. 1
A roundup of real estate-related happenings
from last month
The top CBRE leasing broker on avoiding the subway, golf with Harry Macklowe and 20 million in NYC leases
Real estate pros share picks for books on startups, William Zeckendorf and the history of autism