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National December 2020 Issue

How HFZ became the face of Manhattan’s condo woes

One of Manhattan’s most prominent developers may be at risk of losing it all

“What’s the latest?” read the text that popped up on Nir Meir’s phone one Thursday afternoon in July. “Running out of time.” The message to the HFZ Capital Group managing principal was from Adam Gibbons, an executive at CIM Group. The lender was awaiting an overdue payment on $90 million of mezzanine debt it holds on four prewar Manhattan apartment buildings HFZ is converting to condominiums.  “On it,” Meir wrote… [more]

The definitive guide to the Compass C-Suite

The definitive guide to the Compass C-Suite

By E.B. Solomont | December 17, 2020 01:00PM

As it prepares for what would be one of the most anticipated IPOs of a residential firm in years, Compass has overhauled its C-suite and reorganized key departments. The firm has 18,000 agents (who...

The definitive guide to the Compass C-Suite
What makes Rappaport run

What makes Rappaport run

By Matthew Blake | December 17, 2020 12:30PM

“It’s 10:30 at night, and I’m in a restaurant. My phone is ringing, no caller ID. I answer the call. It’s Larry Ellison.” Eighteen years on, Kurt Rappaport said he still recalls exactly how...

What makes Rappaport run
Kushner eyes return to normalcy. Good luck.
National

Kushner eyes return to normalcy. Good luck.

By Georgia Kromrei | December 17, 2020 12:30PM

When Kushner Companies paid $1.8 billion for 666 Fifth Avenue, a dated office tower that Brookfield’s Ric Clark once described as a “dinosaur,” it was supposed to cement Jared Kushner’s rise. The Kushner family,...

Kushner eyes return to normalcy. Good luck.
The Closing: Sam Nazarian
National

The Closing: Sam Nazarian

By Rich Bockmann | December 17, 2020 01:00PM

In a matter of two decades, Sam Nazarian went from Los Angeles nightclub king to luxury hotel mogul to ghost kitchen entrepreneur. The founder and CEO of SBE Entertainment Group, one of the most...

The Closing: Sam Nazarian
A long road ahead for office landlords
National

A long road ahead for office landlords

By Akiko Matsuda | December 17, 2020 01:00PM

Manhattan’s Paramount Group received an unsolicited takeover bid early last month for about two-thirds of what the company was worth prior to Covid. Just a few weeks later, the real estate investment trust’s board...

A long road ahead for office landlords
A different kind of real estate listing

A different kind of real estate listing

By E.B. Solomont | December 17, 2020 01:00PM

“We don’t need to go public in order to raise capital.” It was September, and Robert Reffkin was making an appearance on CNBC’s Squawk Box, touting his firm’s ability to attract funds without needing...

A different kind of real estate listing
Tales from the industrial boom

Tales from the industrial boom

By Wade Tyler Millward | December 17, 2020 01:00PM

A former Miami golf course turned into an industrial park. A Hollywood warehouse chopped up into six smaller offerings. And a bidding war over industrial space in East Hialeah. Commercial brokers recount these tales...

Tales from the industrial boom
Most of net lease REITs' retail properties like pharmacies, groceries and restaurants were deemed “essential” (Google Maps, iStock)

Net lease REITs piece together Covid strategy

By Kevin Sun | December 10, 2020 12:23PM

What do a Target in Phoenix, a Wegmans in Chapel Hill, North Carolina, and a Marshalls-Homegoods store in California’s...

Net lease REITs piece together Covid strategy
David Swerdloff and his father (left) with 124 7th Avenue (Phots via David Swerdloff; Google Maps)

Inside the plight of a small retail landlord

By Sasha Jones | December 09, 2020 12:31PM

David Swerdloff is a far cry from what many picture a Manhattan commercial landlord to be. The 75-year-old owns...

Inside the plight of a small retail landlord
Emily Giske, Scott Durkin, president and COO of Douglas Elliman, Bess Freedman, CEO of Brown Harris Stevens and Pam Liebman, CEO of the Corcoran Group (ERG Advisors, Douglas Elliman, Brown Harris Stevens, Corcoran Group)

NYC’s biggest brokerages take on Albany

By Erin Hudson | December 04, 2020 12:41PM

 The threat of new property taxes has brought together executives from three of New York City’s largest residential brokerages. Douglas Elliman, the Corcoran Group and Brown Harris Stevens have formed the Coalition for Livable...

NYC’s biggest brokerages take on Albany

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