May 2016 Issue

NYC’s biggest brokerages face off

When the average Manhattan pad costs $2 million, it’s a good time to be in the brokerage business. Soaring prices and relief from the inventory crunch of the last few years have translated into more business for the borough’s largest residential firms. The Real Deal’s annual ranking of top companies — which is based on agent count and is tallied from a one-day snapshot of data from On-Line Residential on… [more]

Mastering the middle

Don’t discount the brokerages on this year’s ranking of mid-sized residential real estate firms just because they’re in the middle of the pack. Like horses circling a racetrack, they jockeyed… [more]

Boutiques bust a move

Discreet, bespoke and focused on luxury, Manhattan’s boutique residential firms have seen their fortunes soar in recent years thanks to a luxury market that was firing on all cylinders. While… [more]

Which residential firms sealed the most deals?

Back in 2014, when buyers were frantically scooping up not-yet-built condos off of floor plans, the city’s leading residential firms must have been dreaming of the moment when those deals… [more]

All in the (lending) family

New York City real estate families — which have for generations invested and developed their own projects — are getting into a new game. As banks have scaled… [more]

The real estate chiefs
who get paid the most

CEO pay may be increasingly coming under the microscope these days, but real estate’s top NYC executives are still raking… [more]

Inside the self-destruction
of Morgans Hotel Group

Morgans Hotel Group is, perhaps, most associated with its co-founder and Studio 54 impresario Ian Schrager, who headed the hospitality company until about… [more]

Far West Rising

When the city rezoned the Far West Side in 2005, it wasn’t just to get mega projects — like the Related Companies’ Hudson Yards and Brookfield Office Properties’… [more]

Name that billionaire: Here’s who lives at 432 Park Avenue

For some time, its slim, soaring frame has been an imposing presence in New York City’s skyline. Now, as multimillion-dollar sales are finalized, we can peek inside the towering 432 Park Avenue…. [more]

The Closing: Keith Rubenstein

Keith Rubenstein is a founder of real estate investment firm Somerset Partners, which has acquired more than $2 billion worth of office and multifamily property… [more]

Next in line

On the Trump Organization’s website, a video titled “Trump: The Next Generation” marks the official red carpet unfurling for Donald Trump’s three oldest children, already longtime executives… [more]

Apollo’s ascent

Last August, Apollo Global Management co-founder Marc Rowan saw a potential steal. The real estate investment trust… [more]

De Blasio’s real estate
money trail

Among the interesting nuggets revealed last month by a far-reaching federal investigation into Mayor Bill de Blasio’s fundraising activities was that a little known… [more]

Eastdil, Meridian tighten
lock on NYC mortgage
brokerage world

Two firms dominated the high-value commercial mortgage brokerage business in New York City last year: Eastdil Secured and Meridian Capital Group, an… [more]

1WTC: An unlikely triumph

Judith Dupré’s new work, “One World Trade Center: Biography of a Building,” is a substantial tome masquerading as a coffee-table book. Its size, weight and format all conspire to suggest… [more]

Banks’ REBNY: One year in

Last month, with the future of 421a still unresolved, two titans of the real estate industry clashed over how to reinstate the tax subsidy. The two men,… [more]

New York city’s next big
retail investors

Despite signs of a slowdown on several prime avenues, New York City retail investors are invading the market everywhere from Broadway… [more]

Downtown Brooklyn’s
second act

The buzz surrounding Downtown Brooklyn’s skyline has lately reached a fever pitch. Last year, JDS and the Chetrit Group… [more]

The ‘façade’ of Columbia’s
new medical

Between the lovely architectural rendering and the finished building falls the shadow. Creations that look beautiful and stylish on paper, that seem to make eminent aesthetic sense, often turn up… [more]

Madison Avenue retail
empties out

The total amount of available ground-floor retail space along Madison Avenue has been growing in recent months, insiders said. “There are a lot of vacancies… [more]

Failure to launch

In one of the strongest signs yet that developers sense headwinds in the luxury condo market, the sales office at 111 West 57th Street is quiet these days. In March, developers Property Markets… [more]

Editor’s note:
The $800 million man

Talk about an embarrassment of riches. Blackstone Group CEO Stephen Schwarzman raked in nearly $800 million last year —from his salary and his massive ownership stake in the private equity… [more]

CRE players crave
Amazon action

With the latest news that mammoth e-tailer Amazon might be opening 300 to 400 brick-and-mortar stores across the country, retail real estate brokers and owners are eager to cash in… [more]

Simon’s second coming?

When Saks Fifth Avenue, one of the great old American department stores, shuttered its location at the Shops at Riverside in Hackensack in 2014, the closure left a major hole… [more]

America’s unequal retail recovery

The retail industry continues to mend the wounds incurred during the Great Recession, but the recovery has been anything but evenly distributed across a diverse range of properties in disparate… [more]

Same stores, different streets

The marble walls of the Fifth Avenue flagship of Italian fashion designer Valentino are a fitting touch for the world’s most expensive retail neighborhood, located between 49th and 60th streets… [more]

Retail real estate’s
big week out

What happens in Vegas may stay in Vegas. But what happens at RECon, the International Council of Shopping Centers’ annual retail real estate convention in Las Vegas, reverberates across the… [more]

Insider’s guide to
RECon’s parties

It’s party time at ICSC’s RECon. But with more than 60 soirées, dozens of venues and three full days of convention time, what’s a retail professional to do? To make… [more]

The mechanics of
a chain reaction

Although it’s been just a year since Target shuttered its 133 Canadian stores, the company has already moved on in a big way, namely rolling out “flexible format”… [more]

Luxury, low-end flourish as mid-tier languishes

If art imitates life, retail isn’t far behind. As tourists and the well-to-do fuel luxury sales around the country, gains in employment and lower gas prices are helping… [more]

Top 10 retail brokerages battle for share of billions in deals

Business is booming and competition is at a fever pitch for top retail real estate brokerages as vacancies hit record lows and rents continue to rise while… [more]

The nation’s retail barons

From browsing luxury designer stores and boutique clothiers to negotiating sprawling supermarkets and big-box retailers, American consumers engage in a wide variety of shopping activities. But who owns all this… [more]

Courting millennials

The direct spending power of the nation’s roughly 80 million millennials is expected to reach $200 billion next year, according to a widely cited report from advertising agency Barkley. And… [more]

Investors’ urban
shopping spree

When the developers of Miami Worldcenter scrapped plans earlier this year for a 765,000-square-foot enclosed mall in downtown Miami, opting instead… [more]

Retail REITs are riding high

Despite the country’s mall woes, retail real estate investment trusts have had a nice run over the past five years, and analysts say they still have plenty of juice. The… [more]

Build it big and they will come

The era of the traditional shopping mall may be coming to an end, but that doesn’t mean developers are giving up on large-scale retail developments. To confront the reality of… [more]

The maestro of brand design

Whether the project involves high fashion, toy stores or even the NBA, Gensler’s creative director, John Bricker, knows a thing or two about corporate brands — sometimes even better than… [more]

Designed with star cred, even in Delaware

Celebrity retail ventures are often associated with prime neighborhoods, as with the Kardashians’ boutique apparel chain Dash, located in West Hollywood, Miami Beach and Soho. Established actors, musicians and athletes… [more]

Supplement

Comings and Goings

After 12 years at the Corcoran Group, David Dubin has joined Elliman as a residential agent. Dubin, who has done deals with the likes of David Geffen, Kent Swig… [more]

We Heard

The “Hunger Games” trilogy swept the nation a few years back when it hit bookshelves.       Can a commercial real estate industry trilogy do the same? That might… [more]

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