May 2015

Brokerages take gloves off

The judge in the case was incredulous, and at a March 30 hearing, she said as much. “Corcoran, the biggest real estate broker in the state of New York, is coming to me and saying that ‘we need protection from this new start-up company?’ ” Indeed it was. As The Real Deal has reported, the firm sued the upstart brokerage Compass for “brazenly” stealing roughly 60 agents and managers. In turn, Compass claimed that Corcoran was harassing and intimidating former agents. Judge Saliann Scarpulla, of the New York… [more]

May 2015
The Real Deal magazine

Biggest firm ranking

Tight inventory. Rising prices. Luxe new developments. And competition—fierce competition. Against that backdrop, Manhattan’s largest brokerages carved out a bigger piece of the pie for themselves this year, The Real… [more]

Manhattan’s mid-sized
market makers

More nimble than industry heavyweights, but packing more punch than many smaller firms, the mid-sized brokerages on this year’s ranking acted as change agents in the industry. Like last year,… [more]

Manhattan boutique firms: small, but mighty

Big-ticket properties bolstered the brokerages that led this year’s annual ranking of boutique Manhattan firms, thanks to a booming luxury market…. [more]

Done deals don’t lie:
A ranking by closed deals

Listings go up and listings go down. But done deals don’t lie. This year, The Real Deal’s annual brokerage ranking includes a list of New York’s residential firms based on their volume of closed sales…. [more]

Private equity’s new game plan

With competition for New York City real estate fiercer than ever, real estate-focused private equity funds are coming up with new strategies to pump up returns. To be sure, even with money pouring … [more]

Real estate investor roulette

Before Harry Helmsley began syndicating buildings in the late 1940s, real estate investors had few choices beyond deciding which properties to buy. Things are clearly different today. By offering shares… [more]

The tech start-ups raising
the most cash

The real estate crowdfunding platform Fundrise recently posted an unusual offering on its website. The opportunity involved a chance to invest in a residential property “located in Mars’ up-and-coming… [more]

Fat checks for retail buyouts

The massive rise in store rents is prompting some Manhattan landlords and developers to reach deep into their wallets to convince retailers to walk away from their leases. Those players… [more]

The Closing: Paul Goldberger

From two golden perches — at the New York Times and the New Yorker — the Pulitzer-winning architecture critic has taken on structures such as Frank Gehry’s tower at 8 Spruce Street, which he called… [more]

Long Island City faces a shopping drought

The residential revolution is well underway in Long Island City, as multiple condo and rental towers sprout where crumbling warehouses and manufacturing holdouts once stood. But while residents… [more]

Big Apple’s hotel boom
may have soft spots

Elliot Spitzer is building a hospitality and retail project in Hudson Yards, and Richard Branson’s Virgin brand will soon be stamped on a towering hotel in NoMad. The independent, 52-room… [more]

The tech sector ‘bubbles’ up

It’s the Pavlovian effect of the business world: whenever venture capital starts flowing into start-ups en masse, observers warn of a market crash. The current tech boom is no exception…. [more]

Bidding wars bloom
with spring’s return

The oldest house in Chelsea is a Federal-style home at 404 West 20th Street, which dates back 180 years. It hit the market this spring, asking $6.5 million. The house… [more]

Hillary’s not alone:
More office tenants seek
to locate in Brooklyn

If there were any outstanding questions about Brooklyn’s viability as an office market, they were put to rest last month, when Hillary Clinton signed on for a large … [more]

Promising start-up,
former NY governor split

For an ambitious real estate tech start-up, bringing on a well-connected former governor as an adviser sounds like a match made in heaven. But in the case… [more]

Preservationists hear little that pleases from de Blasio

Bill de Blasio can be “very eloquent” on preservation issues. Or at least he was as public advocate. But since he took over City Hall, preservationists like New York Landmarks… [more]

Tadao Ando’s first NYC building bears his signature, but won’t stand out

It is good news for New York (in specific) and for architecture (in general) that the 73-year-old Tadao Ando agreed to design a new building at 152 Elizabeth Street at the point where it intersects… [more]

NYC restaurants feel the heat

New York City restaurants are feeling the heat in their kitchens, in the form of rising rents and competition from other well-funded retailers. A spate of high-profile… [more]

Available space bulges on Soho’s Broadway

The east and west sides of Broadway in Soho house about 120 storefronts. Some have premier tenants like Prada, Hugo Boss and Uniqlo, but last month about two dozen had space available for lease…. [more]

Credit unions ramp-up mortgage lending

Credit unions have been expanding their presence in housing, more than quadrupling their share of total mortgage market volume nationwide in the past nine years, according to the National Association… [more]

The Rabsky riddle

As the face of Brooklyn rapidly changes, the face of one of its most prolific developers remains shrouded in shadows. Real estate professionals have long… [more]

TRD Broward Forum
draws thousands

gainst a backdrop of the Design Center of the Americas’ luxury showrooms, more than 2,000 real estate wheelers and dealers mingled at The Real Deal’s Broward Forum and Showcase on… [more]

Neighborhood Dive:
A well-kept Brooklyn
secret is out

Tucked away on the east side of Prospect Park, a short walk away from the Brooklyn Botanic Garden, Prospect-Lefferts Gardens has been one of Brooklyn’s… [more]

What they’re reading now

Brian Ezra Co-founder, Avery Hall Investments What are you reading right now, or what did you finish most recently? I just finished “Little Failure,” a memoir… [more]

Editor’s note:
Developerus secretus

Some of the biggest real estate players in New York fly so far under the radar that they might as well be in the witness protection program. It’s almost an… [more]

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