June 2019 Issue

Heirs unapparent

How real estate firms plan — or don’t — for futures without the founder

One of the main criticisms of the 2020 presidential race could apply to the New York real estate industry as well: A lot of the key players are very old. Just as the quest to evict the 72-year-old Donald Trump from the Oval Office has been dominated by the likes of the 77-year-old Bernie Sanders, the 69-year-old Elizabeth Warren and the 76-year-old Joe Biden, the high-octane world of New York… [more]

CEO spin wash

As the industry grapples with rising competition and declining margins, more than a dozen of the country’s largest residential firms have replaced their chiefs in less than two years

As the housing market nationwide sputters along, many real estate firms are … [more]

Carlton Group — post Howard Michaels

Less than a year after the legendary founder’s death, the firm’s new boss, Michael Campbell, is trying to establish his own way — and make sure the firm doesn’t lose market share

When financier Howard Michaels was diagnosed with gastric cancer… [more]

“The Plaza” goes behind the glamour at NYC’s most
historic hotel

An excerpt from author Julie Satow’s book

From the moment in 1907 when New York millionaire Alfred Gwynne Vanderbilt strode through the Plaza Hotel’s revolving… [more]

Manhattan’s top listers

The Corcoran Group’s Carrie Chiang is marketing the highest dollar volume of Manhattan listings, but other agents are in hot pursuit, and many say off-market sales are rampant

Listings, particularly on the high end, are not easy to unload. Nonetheless,… [more]

The Closing: Jay Sugarman

The iStar CEO on working for high-net worth families, investing in Sex Dust and owning one of the world’s largest romance comic collections

Jay Sugarman, chairman and CEO of the real estate investment trust iStar, hates being called a developer. … [more]

Can eXp’s virtual world
work in New York?

The Sim City-style brokerage is gaining traction nationally, but it’s now attempting to bust into the NYC market — the least hospitable in the country

In 2015, eXp Realty CEO Glenn Sanford boarded a 43-foot motor coach… [more]

Residential market report

From brokerage battles to the luxury market’s billionaire buyers, a look at the biggest trends

BHS balks at sale rumors Brown Harris Stevens isn’t going anywhere. That’s what a late-May missive from CEO Bess Freedman and President Hall Willkie told 1,000 or so agents amid… [more]

Commercial market report

From the city’s most profitable Opportunity Zones to the upscale food hall craze, a look at the biggest trends

NYC tops list of high-growth OZs The Gowanus neighborhood in Brooklyn leads a new ranking of top earning Opportunity Zone tracts, raising questions about … [more]

A successful succession

Building with glass and steel can be a lot easier than dealing with flesh and blood. In our cover story this month, we look at how New York City’s biggest… [more]

Features

As the Japanese conglomerate looks to take its $100B Vision Fund public and launch more funds in the near future, some real estate players may be in for big wins
The Marx Realty CEO on preserving the character of buildings, his favorite surfing spots and pushing for the Guggenheim to move to LIC
The upstart expeditor on defying expectations, all-nighters and Chanel
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