The Real Deal New York

June 2018 Issue

Kushner, unfiltered

Charlie Kushner has a few things he wants to get off his chest. Bombarded with investigations into his family’s business dealings since his son, Jared, became a senior advisor in the Trump administration, he’s out to squash critics who suggest his multibillion-dollar real estate empire is faltering. On May 23, the Kushner Companies patriarch, who founded his firm more than 30 years ago, sat down with The Real Deal to […]… [more]

Is New York City headed for another foreclosure crisis?

The city is seeing its highest level of foreclosures since 2009 — and rising rates, high home prices and a new tax law could only make matters worse

When Canadian fashion mogul Maurice Benisti’s company lent nearly … [more]

The crypto test cases

A growing number of New York homeowners and real estate players are experimenting with Bitcoin and other digital currencies on residential deals — but will that open a door for more black-market buyers?

Matthew Hansen’s dream house used to be a monastery. The hedge funder bought a Hell’s Kitchen townhouse… [more]

Inventory overload

Which neighborhoods have the most new condos to burn through — and who is going to be stuck holding the bag?

The Manhattan condo market is starting to feel like the beauty counter in a fancy department store — with everyone from perfume spritzers to makeup artists vying for buyers’ attention. […]… [more]

Sizing up the AG contenders

A look at the top attorney general prospects and what they could mean for New York real estate

The city’s real estate industry has plenty at stake in November’s election for the next New York attorney general. On top of serving as the state’s chief legal officer, the […]… [more]

Will the Meatpacking’s retail renaissance flourish or fade?

The neighborhood has become an outlier among Manhattan’s shopping districts, but whether that’s sustainable or replicable remains to be seen

On a recent spring day in the Meatpacking District, a group of tourists… [more]

Manhattan’s top agents

Amid 2017’s rocky market, a look at the residential brokers who rose to the top and closed the most deals

New York’s residential market was something of a puzzle in 2017 — with exuberant buyers dropping eight-figure sums at 432 Park Avenue one minute, and price-conscious shoppers sitting… [more]

Manhattan’s listing wars

Step one: Land the exclusive. Step two: Cut the price enough to sell it.

They won the listings — but can they sell them? That’s a question New York’s top residential agents have been grappling with for the past few years, with buyers calling […]… [more]

Early work

Six top real estate players share the joys and pains of their first jobs

Donald Trump touted his — supposedly — humble start in real estate during his presidential campaign, when he cited the $1 million “small loan” given to him by his father. […]… [more]

Meet Brooklyn’s most
prolific developer

As the borough's market matures, Boaz Gilad's Brookland is focusing more on serving its clientele of millienials than chasing profits in oversatured nabes

Boaz Gilad got up from his desk. “Let me just close the window,” the Brookland… [more]

The Closing: Dean Dakolias

The Fortress executive on growing up Greek, freelancing for “60 Minutes,” and meeting with SoftBank’s Masa Son

Constantine (“Dean”) Dakolias is co-chief investment officer of the credit funds group at Fortress Investment Group, the Midtown-based investment manager that SoftBank acquired for $3.3 billion last … [more]

Beware: World Trade Weariness

The Richard Rogers-designed 3WTC, which opens this month, is the least architecturally interesting of the towers on the hallowed site

Roughly 10 years after ground broke on 3 World Trade Center, the tower is finally slated to open this month. And now that it’s near completion — rising to… [more]

Residential market report

From sliding home sales to Park Slope’s new bragging rights, a look at the biggest trends

Home sales value and volume tumble New York’s residential market is still grappling with a hangover as the city saw year-over-year declines in total sales for the third consecutive quarter. […]… [more]

Commercial market report

From climbing office concessions to a multifamily sales rebound, a look at the biggest trends

Multifamily sales reach highest level since 2016 New York’s multifamily sales market notched its strongest month in more than a year. The dollar volume of transactions crossed the $1 billion […]… [more]

Editor’s note: Kushner’s conundrum

When Charlie Kushner agreed to a sit down for an extended interview with The Real Deal, the first question we asked ourselves was, “Why?” The Kushner Companies founder — whose […]… [more]

Joe Farrell’s not-so-sad saga

The developer’s East End compound is back on the market for the umpteenth time, but he sees benefits in the branding

Beyoncé and Jay Z. Madonna. Russian billionaire Valery Kogan. These famous faces are among the many who have summered — or at least weekended — at Joe Farrell’s Sandcastle mansion. […]… [more]

When selling at a discount still means a $36 million price tag

The Real Deal ’s rankings of the priciest Hamptons and North Fork sales show the East End’s still got it

UPDATED June 13, 12:12 p.m. The past year was a slower one for the East End housing market, but as usual, that didn’t stop some well-heeled buyers from shelling out […]… [more]

A new golden age
of East End living?

Gurney’s Resorts expands in Montauk, connecting vacationers in the Hamptons and Newport, Rhode Island

From a troubled beachfront timeshare to a resort empire linking Montauk to Newport, Rhode Island, Gurney’s has… [more]

It ain’t easy for the East End’s top residential brokers

TRD’s annual ranking of agents shows that it’s the magic combo of new tools and old-school tactics that’s key to success in the changing marketplace

To keep their edge in the rapidly evolving East End real estate market, … [more]

To find a place out east, some head west

Second-home buyers looking for a vacation from high prices and congestion see the lure in the Hamptons outskirts

With a lack of affordable options in the old, moneyed Hamptons and traffic only getting worse, a bevy of small towns on the edges of the Long Island enclave are […]… [more]

Hamptons agents have at it

A case of computer hacking has brokers asking who really controls online listings, and how they can be protected

Against the backdrop of the serene waters of the Hamptons and its laid-back, resort-style living, a bitter legal storm that’s been long brewing between Compass — a relative newcomer to […]… [more]

Starchitect, schmarchitect?

Just because an architect finds success in the city doesn’t mean their Hamptons design will command a premium — in fact, it may be just another teardown

In the Hamptons, oceanside compounds with formal gardens, turf tennis courts and sumptuous swimming pools … [more]

Politicians walk
a fine line out east

A handful of officials hold the keys to the area’s land use decisions, making them invaluable to developers

From restrictive land use policies to fiercely protective residents, developers on the eastern end of Suffolk County face an uphill battle to not only break ground … [more]

Room to grow

An uptick in international interest is driving Hamptons hoteliers to extend the season

While the East End hospitality market will see a handful of new keys this summer, demand is still outstripping supply, with weekends booking up well in advance and a new […]… [more]

Doing business
in a beach town

Co-working spaces have been slow to take off out east, but a few companies are testing the tepid waters

Danielle Candela credits her time at Southampton co-working venture The Spur with “changing her life.” For starters, she won $25,000 to fund her start-up … [more]

The baby boom boon

Developers and brokers see the 55-plus set clamoring for condos in age-restricted communities

The baby boom has increasingly turned into a boon for builders on the East End. With the youngest of that generation set to turn 55 in 2019, developers are racing […]… [more]

The industrial divide

With warehouse space at a premium, developers are adding inventory while carving out smaller spaces for startup businesses

The East End tends to obsess over posh mansions behind privet hedges, trying to hide the more matter-of-fact buildings on dusty lots where landscape … [more]

When bigger isn’t better

New conservation measures have hit many villages, forcing smaller builds, but not everyone’s on board with eco-conscious construction

The tide may finally be turning on the “more is more” building trend that has dominated recent decades — though it depends who you talk to. On the East End, […]… [more]

Hamptons hideaways of the rich and famous

From Broadway belters to “Real Housewives,” celebrity Hamptonites are trying their luck on the East End market

Several homes with celebrity cachet — current and historical — have hit the market this summer. But a famous seller… [more]

Editor’s note:
Building dreams

It’s likely safe to say that nobody on the East End was terribly shocked when Joe Farrell’s Sandcastle recently hit the market again, this time for about $50 million — […]… [more]

Features

The Macklowes, Giulianis and Trumps are among the thousands in NYC splitting up real estate
because of divorce
The Clarion executive on sipping tequila as her firm unwinds in Mexico, her 45-second bond with Michelle Obama and her rugby tackling skills
The CEO of XL Real Property Management on maintaining luxury apartments for wealthy investors, his yellow cab devotion and what's for dessert
A roundup of news and data on the residential market
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
A roundup of news and data on the commercial market
The funniest and most insightful comments
on real estate
Real estate pros share their picks for books on adapting to new technology, the life of Steve Jobs and more…

We Heard

The Corcoran Group’s A team spent a rosé-soaked week in Barbados last month as part of the brokerage’s annual President’s Council retreat for its top 40 agents from New York, […]… [more]