National January 2021 Issue


Paradise found: Can Francis Suarez make Miami the next Big Tech mecca?

You could call it the tweet heard around the world. In early December, Delian Asparouhov, a principal at venture-capital firm Founders Fund, threw out a proposal moving Silicon Valley to Miami. Francis Suarez, a real estate attorney who stepped into the mayor’s chair in 2017, quote-tweeted the investor. He asked, “How can I help?” Suarez’s response went viral with more than 2 million impressions and thousands of likes. The mayor… [more]

Multifamily’s trillion-dollar tango

Multifamily’s trillion-dollar tango

Multifamily lenders and policymakers have taken much the same approach with evictions and mounting debt during the pandemic: Put things off and hope the rental market’s problems resolve themselves before it’s too late. That...

Multifamily’s trillion-dollar tango
From left: American Express CEO Kenneth Chenault, Joshua Kushner, Richard LeFrak, Softbank CEO Masayoshi Son, Miki Naftali and Salesforce CEO Marc Benioff (Getty)

Compass’ IPO means payday for these investors

 Compass investors could be in line for a windfall when the residential brokerage goes public later this year. Since...

Compass’ IPO means payday for these investors
Clockwise from left: Softbank CEO Masayoshi Son, Social Capital CEO Chamath Palihapitiya, Opendoor CEO Eric Wu, Founders Fund partner Keith Rabois and Access Industries chairman Len Blavatnik (Getty; Opendoor; Founders Fund)

Here are the big winners from Opendoor’s IPO

 Opendoor’s IPO last month crowned CEO Eric Wu a billionaire. It quintupled the value of SoftBank’s stake to $2.3...

Here are the big winners from Opendoor’s IPO
Inside mall owner Namdar’s rapid growth story

Inside mall owner Namdar’s rapid growth story

At the Regency Square Mall in Jacksonville, Florida, roaches roam freely, the air conditioning is broken and the roof...

Inside mall owner Namdar’s rapid growth story
Ray McGuire photographed by Axel Dupeux.

The Closing: Ray McGuire

Ray McGuire’s path from “the streets to the suites” is made-for-movie stuff. Growing up poor and fatherless in Dayton, Ohio, he worked his way into the elite boarding school Hotchkiss, then Harvard for undergraduate,...

The Closing: Ray McGuire
Seismic shifts in the flex-office market

Seismic shifts in the flex-office market

Montreal-based Breather, a company that rents workspaces by the day, made a bold announcement last month that reverberated throughout the world of flex-office operators. “Breather, in its current form as an operator, doesn’t make...

Seismic shifts in the flex-office market
Hospitality startups pick at carnage of failed rivals

Hospitality startups pick at carnage of failed rivals

Almost everything has remained the same at 70 Pine Street — the oak floors, modern furnishings and colorful art...

Hospitality startups pick at carnage of failed rivals
Compass IPO

Compass’ IPO means payday for these investors

 Compass investors could be in line for a windfall when the residential brokerage goes public later this year. Since...

Compass’ IPO means payday for these investors
These startups want to guarantee your rent

These startups want to guarantee your rent

As millions of Americans struggle to pay their rent on time, investors are betting on a crop of new startups to help landlords get their money. Companies like Flex, Till and NestEgg have raised...

These startups want to guarantee your rent
Photo illustration of Rodrigo Niño, with Shorewood's Larry Davis, 84 Williams Street and 331 Park Avenue South (Getty, Google Maps, iStock)

Behind the biggest real estate crowdfunding implosion

Johanna Trujillo invested $20,000 in what seemed like a sure thing — a piece of Manhattan real estate. She...

Behind the biggest real estate crowdfunding implosion
Biden’s fair housing face-off

Biden’s fair housing face-off

For decades, New York City has offered communities an enticing deal: Approve new housing and locals will get half of the affordable units. But in 2014, the Obama administration warned the city that so-called...

Biden’s fair housing face-off
LA’s scandal response: status quo

LA’s scandal response: status quo

The FBI brought down the hammer last year on Jose Huizar’s alleged criminal enterprise, stating that the former Los Angeles City Council member milked developers for more than $1 million in payments and gifts,...

LA’s scandal response: status quo
This office redeveloper is going all in

This office redeveloper is going all in

It was hard to miss the dozens of hardhats on lunch break as they poured out of a 20-story office building on Manhattan’s Far West Side. Some ducked into nearby shops, while others lined...

This office redeveloper is going all in
Open New York's Will Thomas and Kyle Dontoh (Photos via Getty; iStock: Open New York)

Outsiders for years, NYC yimbys move into mainstream

It was a Wednesday night in April 2019, and Will Thomas was outnumbered. Only two other members of pro-housing...

Outsiders for years, NYC yimbys move into mainstream
Clockwise from left: Donald Trump, Joe Biden, Airbnb CEO Brian Chesky, Opendoor CEO Eric Wu, Black Lives Matter protests (Illustration by The Real Deal)

For real estate, a year like no other

“Unprecedented” may have been overused in news stories this year, but no word better describes the events of 2020. The coronavirus pandemic defined the year, claiming several hundred thousand American lives and wiping out...

For real estate, a year like no other
Jeff Bezos and 424 5th Ave, Michael Shvo and 530 Broadway (Getty, SHVO)

Here are NYC’s 10 biggest investment sales of 2020

 New York’s investment sales market is often seen as a barometer for real estate the world over. And as...

Here are NYC’s 10 biggest investment sales of 2020
Related Companies' Steve Ross and 50 Hudson Yards, and Brookfield Property Partners' Brian Kingston and Two Manhattan West (Related, 50 Hudson Yards, Brookfield, Manhattan West)

NYC’s 10 most active developers of 2020

 Construction timelines were disrupted across the city this year as sites deemed unessential were shut down. Still, work at many projects — including some of the largest ongoing developments — either qualified as essential...

NYC’s 10 most active developers of 2020
From left: 300 North Lake Way, 1095 North Ocean Boulevard and 8 South Lake Trail (Google Maps)

South Florida’s biggest residential sales of 2020

South Florida’s ultra-luxury home market boomed in 2020, setting new records throughout the pandemic. Buyers from high tax markets...

South Florida’s biggest residential sales of 2020
Stuart Elliott

Editor’s note: Miami mania

It seems like the whole world is heading south for the winter — and staying there. Since the pandemic hit, South Florida — despite seeing an enormous number of Covid cases — has benefited...

Editor’s note: Miami mania

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