The Real Deal New York

March 2015

The Year of the Chinese Investor

Inside the growing wave of investors buying and building in the five boroughs

For more than two decades, China’s most populated city, Shanghai, has experienced a building frenzy unlike any other: Developers have built office buildings in the city of 24 million as far as the eye can see, including skyscrapers like the under-construction Shanghai Tower, one of the tallest in the world. But increasingly, Chinese developers and investors are looking elsewhere to build. And a fast-growing number are setting their eyes on […]… [more]

March 2015
The Real Deal magazine

Behind the $2B
Waldorf Astoria sale

A blow-by-blow account of Anbang’s deal to buy the iconic hotel

It was a deal no one saw coming when a little-known Chinese insurance company burst onto the scene this fall to buy the iconic Waldorf Astoria for nearly $2 billion…. [more]

Digging to China

A look at the army of gatekeepers funneling deals to NYC players

When Sotheby’s International Realty’s Nikki Field travels to China, she lines up back-to-back meetings with wealthy Chinese buyers looking to purchase New York real estate. Field has not only tapped […]… [more]

Who’s Preet coming
after next?

The U.S. Attorney has promised that his investigation will not stop at Sheldon Silver, leaving many
in the real estate industry uneasy

Politicians are supposed to be on the “people’s payroll,” U.S. Attorney Preet Bharara told a crowd of lawyers… [more]

Albany’s real estate agenda, sans Silver

Issues to watch as state lawmakers scramble to organize in the wake of speaker’s downfall

Sheldon Silver’s resignation from his post as speaker of the Assembly, after 21 years as one of state government’s three most powerful men (its oft-criticized modus operandi), left a gaping […]… [more]

The influence traders

A look at some of the biggest lobbying firms representing real estate players in City Hall and Albany

The federal charges against former State Assembly Speaker Sheldon Silver provide a window into the inner workings of a cast of characters, ranging from a cancer researcher at Columbia University […]… [more]

The Closing: Dan Doctoroff

It’s not a stretch to call Dan Doctoroff a modern-day Robert Moses. Doctoroff — who started his career at Lehman Brothers and later was a managing partner at private equity firm Oak Hill Capital Partners — joined Mayor Michael Bloomberg’s administration in 2001. … [more]

Manhattan’s mega leases

The 10 most valuable office deals of 2014 are worth nearly $8B

The most valuable office lease inked in Manhattan last year will bring nearly $1.7 billion in cash to the owners of 11 Madison Avenue over 20 years. The eye-popping 1.1 million-square-foot… [more]

For the love of leasing

A ranking of the firms at the top of the office leasing food chain

CBRE, the world’s largest commercial brokerage, leased up more office space, by far, than any other firm in Manhattan last year. The firm unloaded about 14.5 million square feet for […]… [more]


  • A view on how the priciest Manhattan apartments stack up against, well, everything
  • Robert Reffkin
  • Big players, funny comments
  • Real estate happenings

The Garment District
goes in for ‘alterations’

Neighborhood players await rezoning; some worry about the impact
on area’s manufacturing roots

An alteration that has nothing to do with hemlines could bring another wave of changes to Manhattan’s Garment District.
While the area has seen an influx… [more]

Virgin Hotel design will bring
magnificent to NoMad

Broadway’s newest hotel promises magnificence - if the builders
don’t cheap out

The Virgin Hotel New York that will soon rise at the corner of 30th Street and Broadway will change forever the stretch of Broadway that runs from Madison Square Park […]… [more]

Hitting the market sweet spot

The lower end of the luxury market gets little fanfare, but a lot of action

Forget the über-luxury apartment sales that grab all the headlines. The far more dependable segment of the Manhattan market is much lower on the pricing totem pole: It’s between $1.5 million and $3.5 million. “The sweet spot is really this lower bracket,… [more]

Cold winter weather makes mischief with market

Brokers look forward to spring open houses, leaving broken pipes
and icy steps behind

New York real estate may be hot, but it’s not immune to freezing temperatures. The so-called Siberian Express, as some dubbed the seasons’ prolonged cold snap, … [more]

Lending in a volatile time

Manhattan lenders grapple with more competition, complicated by new
Dodd-Frank rules

The Manhattan residential mortgage lending industry faces a host of new challenges: More players entering the market, finding financing for foreign nationals, incorporating the changes introduced by Dodd-Frank and greater […]… [more]

Eichner rises again with two Manhattan towers

The developer with a checkered past returns to NYC building with Flatiron condo tower, Harlem rentals

If the Flatiron District’s One Madison condo tower typifies the nadir and the zenith of real estate’s recent history, then Ian Bruce Eichner is perhaps the most fitting developer to […]… [more]

What they’re reading now

Insight from the bookshelves of Scott Walsh, Brad Siderow and Roy Kim

Where do you look for insight and inspiration? To find out, The Real Deal asks leaders in the industry what they’re reading. Brad Siderow Founder and CEO of Siderow Residential Group […]… [more]

Office space availability
rises as landlords chase
higher rents

New space hits the market at higher asking rents, driving up averages throughout Manhattan

New product put on the market with an eye toward capturing broad rent increases boosted the availability rate … [more]

Erroneous Zestimates

Zillow’s wildly off online price
estimates hamper sales

When “CBS This Morning” co-host Norah O’Donnell asked the CEO of Zillow recently about the accuracy of the website’s automated property value estimates, known as “Zestimates,” she touched on one of the most sensitive perception… [more]

Neighborhood dive:
Bushwick reborn

From desperate decay to hipster haven, the Brooklyn nabe is gentrification epitomized

The name Bushwick still conjures visions of burning buildings, poverty and drugs
for New Yorkers of a certain age… [more]

Editor’s note:
Real estate crime time

A political bombshell exploded in Albany last month and the debris is covering the New York City real estate industry. In a series of stories this month, we examine the fallout […]… [more]