June 2017 Issue

Manhattan’s chief closers

It’s been about a decade since The Real Deal began ranking Manhattan’s top residential agents. But this year, the ranking looks a little different. That’s because rather than evaluating agents based on the dollar volume of their listings, this year our beefed-up research team created a methodology to evaluate brokers based on what they actually sold. And in a market where inventory is up and buyers are swimming in choices,… [more]

Tag-teaming to sell condos

It takes a village to sell new development. That’s one key reality that came through as we were compiling our ranking of closed new development sales. The ranking disproportionately favored… [more]

Manhattan’s top listing agents

New York’s top residential agents have catapulted their careers in recent years by jockeying for hot new-development assignments and winning big listings. But over the past 12 months, even… [more]

Will lead generation
kill the star broker?

When Elena Smirnova jumped from Citi Habitats to upstart brokerage … [more]

Is New York real estate showing symptoms of distress?

For Hans Futterman, it was a dream defaulted. The developer assembled a vacant plot of land… [more]

The Closing: Roy March

Eastdil Secured CEO Roy March on his blue-collar roots, not being a ‘freak’ and brokering trophy towers across the country…. [more]

SHoP’s (expanding) house

n 2009, Forest City Ratner stunned the city and fired starchitect Frank Gehry, whose vision for the Barclays Center in Brooklyn had ballooned to $1 billion. … [more]

Thor battles choppy waters

It took Joe Sitt less than 30 minutes to agree to pay Aby Rosen $132 million for a trio of buildings at 516-520 Fifth Avenue in 2011. It was a… [more]

Hunting for value
in the Hamptons

Joe Farrell Founder, Farrell Building Company The ultra-luxury end has slowed down. Are you finding less… [more]

Flushing’s other
condo boom

The streets of Flushing, New York City’s largest Chinatown, are swarming… [more]

75 Kenmare:
An elegant outsider

Kenmare Street, on Manhattan’s Lower East Side, is becoming one of … [more]

Trump hums a different tune on regulating shell companies

When President Donald Trump jumped into office on Jan. 20, he came vowing… [more]

Amid the retail meltdown, bigger isn’t always better

When the retail market was rising over the past few years, “big box” was the term on many landlords’ lips. They were eager to create larger-footprint stores and demand bigger… [more]

The ultraluxury rental market falls to earth

In the decade since Robby Browne bought a two-bedroom condo at 15 Central Park West, the Corcoran Group agent has amassed a “nice little nest egg” renting it out for $18,500… [more]

Editor’s note: Broker kings and queens (and those trying to dethrone them)

In a topsy-turvy world, amid technological disruption and a down market, residential brokers are taking very different roads to making a buck. Our cover story this month features our annual… [more]

Mack-Cali’s major role reversals

Was Mitch Rudin’s demotion at Mack-Cali a shake-up in sheep’s clothing?… [more]

Ranking top brokerages in the residential rat race

When it comes to eager buyers, the Northern New Jersey market is hardly lacking. And that means that for the brokers competing to woo them, every outreach tool must be… [more]

Eastern promises

Foreign investment in New Jersey real estate made international news in May when Nicole Meyer, sister to White House senior advisor and Trump son-in-law Jared Kushner, invoked her brother … [more]

Infrastructure meltdown?

New Jerseyans commuting to and from Penn Station this summer may begin to question the value of living in the prized neighborhoods that bill themselves as “convenient” to New York… [more]

Safety in the suburbs

As residents continue to pour into the coastal cities of Jersey City and Hoboken, corporations seem to be headed in the opposite direction: inland. Though it flies in the face… [more]

Survival of the fittest

It’s not just any old developer who can hack it New Jersey. The conditions are challenging even during boom times, with a scarcity of land and scads of competing firms… [more]

Waiting for a new Newark

If Newark is actually finally officially revitalized — considering that news of its rebirth has been reported since roundabout 2005 — quinoa salad may represent a turning point. In March,… [more]

Market snapshots:
Beyond Northern NJ

Union County Just south of the hot counties of Essex and Hudson, Union County is seeing spillover demand, with… [more]

The experiential differential

The retail sector continues to reinvent itself in the well-to-do, densely populated northern counties of New Jersey. In a bid to counter the impact of e-commerce and big-box store closures,… [more]

Be our guest

With several Atlantic City hotels shuttering between 2014 and last year, it seemed as if the only hotel news coming out of New Jersey was negative. But statistics… [more]

The teardown lowdown

Suburban living in Northern New Jersey remains as in-demand as ever. Inventory of single-family homes slid more than 25 percent across Bergen, Passaic, Morris, Essex and Hudson counties from March… [more]

Jersey’s shore thing

The tide is high for Garden State tourism, which saw an uptick in visitor numbers in 2016 for the seventh straight year, according to a state analysis. Unsurprisingly, half of… [more]

Assessing Cory Booker’s real estate deeds

Cory Booker’s favorite building isn’t in New Jersey. By some definitions, it isn’t even technically a building. It’s where his parents went on their first date — the Jefferson Memorial… [more]

Editor’s note: The Garden State blooms

The pace of life rarely slows in New Jersey, where an increasingly crowded market means that both commercial and residential players are always looking for a competitive edge. As one… [more]


Comings and Goings

Lansco’s Robin Abrams is leaving the firm to join Eastern Consolidated, where she will be a principal and vice chairman of retail. Abrams, who’s been at Lansco for 38 years,… [more]

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