November 2016 Issue

Mogul vs. Mogul:
Real estate’s battles royal

As the early aughts unfolded, the notoriously mercurial real estate mogul Sheldon Solow waged one of his characteristically deep-pocketed legal battles over a Manhattan ground lease. Solow claimed that a group of sellers — including the British billionaire brothers David and Frederick Barclay — had fudged the value of the lease to trick him into overpaying for the interest at 380 Madison Avenue. The courts, however, dismissed Solow’s claim as… [more]

Vornado post Roth?

“Don’t be jerky,” Steven Roth told Gary Barnett. “It’s not even close.” Sitting among other industry titans at Bloomberg LP’s headquarters last spring, Roth was… [more]

Game on: Eastdil vs. Cushman

The bombshell news last month that New York City’s top two investments sales brokers, Doug Harmon and Adam Spies, decamped for Cushman & Wakefield after years at Eastdil Secured is… [more]

The resurrection of 425 Park

It was a Sunday evening in September 2008, and David Levinson was leaning over the balcony at a hotel in Paris. He and… [more]

Buyers take the reins

Free rent. Paid attorneys’ fees. Falling prices. It sounds like a scary flashback to the dark days of 2009. But it’s actually all happening today in different segments of New… [more]

The Closing: Alan Wiener

Alan Wiener is the group head of Wells Fargo Multifamily Capital, where he specializes in large multifamily loans to landlords and developers. … [more]

The making of a
Lower East Side linchpin

For five decades, Broome Street east of Essex was a dead zone — blighted by the remnants of a slum clearance and urban renewal project whose renewal… [more]

The real estate investors’ guide to getting past Uncle Sam

Let’s face it. Stories about people’s taxes don’t typically lend themselves to juicy scoops for journalists. The federal IRS code is complex and confusing even for the most erudite tax… [more]

The Fortis of solitude

When construction workers began to dismantle the 156-year-old Long Island College Hospital earlier this year, it signaled the end of one bitter battle and the… [more]

What’s at stake if
Deutsche Bank topples?

More than $13 billion is a pretty large sum, even by real estate standards. That’s how much Deutsche Bank lent on New York City properties between 2011… [more]

The Theater District: Act III

While audiences and actors may be interested in what takes place inside Times Square’s theaters, landlords are often focused on what’s above them. The historic, low-rise properties have acres of… [more]

The EB-5 debate
in full effect

The EB-5 visa program, which grants foreigners a provisional right to live, work and study in America in… [more]

The industry’s climate
change complacency

When millions of gallons of briny water gushed into the lower reaches of 80 Pine Street on October 29, 2012, concrete walls buckled, electrical systems shorted out and several maintenance… [more]

The Financial District
doubles down on retail

Westfield’s World Trade Center complex may have gotten off to a wobbly start,… [more]

The Real Deal
hits Shanghai

To get a pulse on the movers and shakers in New York City real estate, industry buffs now look to China. In the past 12 months, Chinese firms invested more… [more]

A bravura performance

In a city where so much of the new architecture is indifferent, the World Trade Center site stands out for the exceptional quality and execution of its designs. The area… [more]

Manhattan land slide

Sales of Manhattan development sites fell to their weakest level in six years against the backdrop of slow condominium purchases and no resolution to the renewal of the state’s 421a… [more]

The composer of smart cities

In 1963, Rose Associates, led by its second-generation patriarch, Frederick Rose, was closing in on a huge triumph: the completion of 280 Park Avenue, an Emery Roth-designed building in Midtown… [more]

Clueless on non-competes?

How ironclad are non-compete agreements? That question — which has been bandied about in the residential brokerage world for the past several years — has once again been thrust into… [more]

Editor’s note:
The benefits of being bold

Most public company heads tend to be pretty circumspect in their statements to the press. Not Vornado’s Steven Roth, who is the “last in a line of brash hustlers running… [more]

Comings and Goings

Scott Durkin has been named chief operating officer of Douglas Elliman. He previously served as executive vice president of acquisitions and growth and had been a Corcoran Group manager before… [more]

We Heard

If the residential real estate world were the high school cafeteria, venture capital-backed brokerage Compass would almost certainly be the kid eating lunch alone. The three-year-old start-up, headed by Robert… [more]

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