The Real Deal New York

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Editor's note

November 2011
  • The new foreign buyers

    City lures investors from abroad as Europe scrambles to control crisis

    Illustration for The Real Deal by Squat DesignAt press time, European leaders had reached a deal to avert a potentially disastrous Greek debt default. The move could have implications in NYC, where some foreign buyers have been spooked into inactivity by the European debt crisis for weeks, while others, from tottering economies, have flooded into the city as a safe haven. The Real Deal looks at 10 countries that send a significant number of homebuyers […]… [more]

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  • Climbing back to the top

    A look at some of real estate's most impressive comebacks

    Three autumns ago, the collapse of Lehman Brothers knocked the wind out of New York’s real estate industry. Home sales flattened. Prices plunged. And, as layoffs mounted, office buildings emptied out. While there have been some spurts of activity, the industry has not gotten back to the highs of the boom. In fact, as the unemployment rate still hovers at an uncomfortably high level, and Wall Street (a once-reliable real estate engine) reports losses, it […]

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  • Andrew Farkas: The sequel

    The mogul has returned to build another giant brokerage empire, with a focus on distressed properties

    Andrew FarkasF. Scott Fitzgerald once said, “There are no second acts in American lives.” But billionaire investor Andrew Farkas is proving that there are — at least in real estate. Farkas — who built Insignia Financial Group into one of the largest real estate brokerages in the country in the 1990s — is carving out a sequel for himself that could rival his most prolific run of the past 20 years. Last year, his firm […]

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  • Where do top brokers live?

    A peek inside the homes of some of Manhattan's biggest residential dealmakers

    A New Yorker’s address is a marker of identity — especially if the New Yorker is a residential real estate broker. This month, The Real Deal peeked inside the homes of some of Manhattan’s top brokers to find out what’s behind their front doors. The five brokers we visited, who were all in the top 20 on The Real Deal‘s latest list of top Manhattan agents (published earlier this year, in the June issue), may […]

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  • L+M’s secret weapon

    The billion-dollar developer, one of only a few straddling the low-income and market-rate worlds, grows despite uncertain real estate climate

    Ron Moelis In 1998, L+M Development Partners started its first affordable housing project on West 148th Street, between Adam Clayton Powell and Frederick Douglass boulevards. At the time, the vacant block was inhabited solely by boarded-up, graffiti-scrawled buildings, abandoned by their owners in the ’60s and ’70s. In the middle of the block sat P.S. 90, a Collegiate Gothic-style structure built in 1907 by architect Charles Snyder. Unused by schoolchildren for 30 years, the building’s […]

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  • Excessive pay to get brokers in the door?

    Accusations of firms paying ‘above market’ to poach brokers swirl, leading at least one company to offer ‘retention bonuses’ to agents

    Mark Rose, CEO of Avison YoungReal estate executives are quietly fuming over what they say are aggressive bonuses that several new and expanding commercial firms are paying to poach brokers. The past two months have been a particularly active time for brokers shifting alliances, partly because some firms have stumbled in the weak economy and make for soft targets, and partly because brokerages with a national presence are expanding into the New York market, which […]

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  • The Real Deal’s November issue went live this week, and there are now more ways to enjoy the latest industry news and analysis than ever before. To view the issue on your digital device — photos, graphics, charts and all — as it appears in the magazine, use the version embedded below. This format works well for TRD readers with iPads seeking on-the-go, digital access to this month’s stories. (Click the “Full-screen view” button on the navigation […]

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  • Fourth quarter won’t deliver, execs say

    Manhattan office leasing experts say volume of deals will fall far short of expectations

    The Manhattan office leasing market began the year on a tear, leading executives as recently as four months ago to predict that volume could top 30 million square feet in relocation and expansion deals. Now, however, professionals — who have seen demand wane in the second half of the year — expect activity will fall far short of that. Indeed, the fourth quarter — often a bright seasonal spot as firms try to wrap up […]

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