National November 2020 Issue


The inside story of 220 Central Park South, the world’s most profitable condo

If not for 220 Central Park South, Vornado Realty Trust’s recent financials would have been a horror show. Vornado, one of New York City’s biggest landlords, recorded a $107 million loss in the third quarter on its prime retail portfolio, once-prized Fifth Avenue and Times Square properties that have been paralyzed by the pandemic. It also took significant hits on the shuttered Hotel Pennsylvania and other investments. But thanks to… [more]

Sting

The rogues’ gallery

The whale Vornado didn’t plan a 23,000-square-foot quadplex at its trophy property, but Citadel’s Ken Griffin changed those plans. In January 2019, he set a U.S. sales record with his $240 million purchase in...

The rogues’ gallery
Law in order: Ranking New York’s legal power players

Law in order: Ranking New York's legal power players

UPDATED, Nov. 24, 1:45 p.m.: When the pandemic hit in March, affordable housing investment firm Yes Communities was negotiating...

Law in order: Ranking New York's legal power players
Commercial firms playing M&A musical chairs

Commercial firms playing M&A musical chairs

In commercial real estate, throwing shade can occur at the highest levels. After negotiations between JLL and Cushman &...

Commercial firms playing M&A musical chairs
The mirage of low interest rates

The mirage of low interest rates

Record-low interest rates have created an unprecedented opportunity for homebuyers. That’s the party line in the residential industry. But that’s not how things are playing out on the ground. Many buyers have little chance...

The mirage of low interest rates
RMBS then and now: Do securitized home loans still matter?

RMBS then and now: Do securitized home loans still matter?

Between April and June, when the pandemic went from a shocking jolt to a daily reality, a record number...

RMBS then and now: Do securitized home loans still matter?
Multifamily sector beating the odds

Multifamily beats the odds

While hotels, retail and offices sink, the multifamily sector is sailing along. Rent collection has been largely steady despite high unemployment and early threats of rent strikes. Occupancy, too, has suffered less than expected...

Multifamily beats the odds
“It took off like crazy”: How brokers use TikTok to rent apartments

Trending on TikTok: NYC Apartments

When real estate agent Alexander Zakharin downloaded TikTok in February, he wasn’t sure what to expect. Zakharin, a broker...

Trending on TikTok: NYC Apartments
The Closing: Spencer Rascoff

The Closing: Spencer Rascoff

Spencer Rascoff built the most consequential residential tech startup of a generation. As co-founder and former CEO of Zillow, he pioneered consumer access to home listings and price information, making his firm a platform...

The Closing: Spencer Rascoff
An assessment of how President Donald Trump affected real estate in terms of foreign investment, housing, taxes and general political sentiment. (Getty)

What four years of Trump has done for real estate

Nearly four years ago, Donald Trump was sworn in as the nation’s first developer-in-chief, surrounded by prominent figures from...

What four years of Trump has done for real estate
Joseph Tabak

Portrait of a deal junkie: The Joseph Tabak story

Some real estate players are known for what they build, others for what they own. Then there’s Joseph Tabak,...

Portrait of a deal junkie: The Joseph Tabak story
Heidi Marston (Twitter, Getty)

LA to phase out hotel program for homeless

Los Angeles authorities are winding down Project Roomkey, the ambitious plan to move thousands of people without housing into hotels in response to the coronavirus pandemic. Heidi Marston, executive director of the Los Angeles...

LA to phase out hotel program for homeless
125 West End Avenue and 450 W 126th Street (Photos via Google Maps and SLCE Architects)

Staying ahead on the life science leasing curve

Life science lease deals and building conversions have been popping up across New York City and other major commercial...

Staying ahead on the life science leasing curve
Stuart Elliott

Editor's note: Can we get back to business?

For many of us, following politics has taken up so much bandwidth in our lives over the past four...

Editor's note: Can we get back to business?

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