The Real Deal New York

October 2018 Issue

Recasting Cuomo

As the governor gears up for an inevitable third term and reportedly eyes a run for the White House, will his cozy relationship with real estate be upended?

Early last month, Gov. Andrew Cuomo climbed into Franklin Delano Roosevelt’s 1932 Packard convertible and made the inaugural trip across the new Tappan Zee Bridge. The celebratory drive ended with a staged press event where he touted the nearly $4 billion project, now officially renamed the Governor Mario M. Cuomo Bridge in honor of his father. But the celebration was premature. The next day, when the soaring silver structure was scheduled […]… [more]

Albany’s power
structure resets

In wake of primaries, the state’s shifting political winds could spell trouble for the real estate industry

On the morning after last month’s primary elections, John Banks, president of the real estate industry’s most powerful… [more]

What would Tish James do?

Some believe the Democratic AG candidate would take a tough stance on real estate, but others say her close ties to Cuomo could get in the way

Leading up to September’s primary, the real estate industry flung hundreds of thousands of dollars at two Democratic… [more]

The crypto conundrum

A growing crop of blockchain and crypto startups promise a golden age of transparency, security and access in real estate — with fewer middlemen —
but is the hype legit?

At Consensus 2018 — a conference where cryptocurrency die-hards … [more]

Cutting the fat

This entrepreneur wants to eliminate the middlemen from real estate deals, but says it can be a tough sell

Sam Tabar, who co-founded Fluidity — a year-old startup in Williamsburg that offers tokenization technology to broker-dealers and financial firms — wants to… [more]

Inside JLL’s investment
sales shakeup

Bob Knakal’s contract with the brokerage has big implications for its investment sales division, but will it really alter
the playing field?

It’s been a busy year for the personnel departments at New York’s … [more]

Cracking Cadre’s code

The crowdfunding startup has raised millions and landed a mega valuation, but it remains mum about its deals and still operates under the Kushners’ shadow

Cadre’s official story — which its 30-year-old co-founder and CEO, Ryan Williams, rattles off with rehearsed precision … [more]

Hudson Square’s pricing pitch

The lower Manhattan enclave is in for a condo boom with prices far below neighboring Soho and Tribeca, but industry players say the “attainable luxury” may be short-lived

Nestled at the intersection of Soho, Greenwich Village and Tribeca… [more]

The billion-dollar bankroller

The Children’s Investment Fund is writing $1B checks to NYC’s biggest developers, but its money doesn’t come cheap

On a Thursday morning in March 2013, Silverstein Properties’ Marty Burger was trying to keep his cool. His meeting with three major banks to negotiate… [more]

Judgment Day
for NYC’s law firms

Real estate lawyers see a boost in billing from an improving investment sales market and a newly competitive lending environment

When news broke this year that Jamestown Properties was selling the Chelsea Market building to Google for $2.4 billion… [more]

The regulation situation

The precedent-setting rent regulation case that kept real estate lawyers (and landlords) busy this year

Considering that some 1 million New York City apartments are rent-regulated, cases with the potential to impact policy in that area are closely watched in real … [more]

Show me the money

Ranking the law firms that handled the highest dollar volumes of loans and sales

In a year when the law firms representing New York’s top lenders had less on their plates, it paid to be the attorneys for Bank of the Ozarks. The Arkansas-based […]… [more]

The Closing: David Rockwell

The famed architect on listening to “foul hip-hop,” designing for celebrity chefs like Nobuyuki Matsuhisa and growing up in Guadalajara

David Rockwell is perhaps best known for his collaborations with celebrity chefs and restaurateurs like Danny Meyer … [more]

Can NYC shed its
test-tube status?

NYC is pushing further into the burgeoning life science and biotech fields, but it still lags behind rival cities as developers shy away from risky buildouts

Taconic Investment Partners and… [more]

Alexa, upgrade my technology

For NYC developers, ponying up for high-tech apartments can backfire — in an expensive way

It seemed like a good idea at the time. In 2012, when the Rabsky Group developed 225 North 9th Street, a luxury rental in Williamsburg, it installed built-in… [more]

The sports arena
endurance test

Despite a crowded market and steep competition, New York stadium development is racing forward

Even though New York is one of the most saturated markets in the country when it comes to large sports arenas, … [more]

Deconstructivist
— all grown up

At 35 Hudson Yards, David Childs extracts the best parts of the overused asymmetric style and puts them to perfect use

Now that 35 Hudson Yards is sufficiently underway, we can safely compare… [more]

Residential market report

From peaking sales prices to the latest loss on Billionaires’ Row, a look at the biggest trends

NYC sales prices notch 10-year high in volatile market A full decade after the financial crisis, New York City’s housing market has rebounded and then some. Average citywide sales prices […]… [more]

Commercial market report

From the latest retail vacancy glut to WeWork’s Manhattan domination, a look at the biggest trends

Manhattan’s retail vacancies further pile up A recent survey from Douglas Elliman painted a really grim picture for Manhattan retail. It found that 20 percent of … [more]

Editor’s note:
The great unraveling

We’ve had a rough couple of weeks in this country. The gap between the right and left has never seemed larger. A battle rages over the Supreme Court. The #MeToo […]… [more]

Features

Will the embattled global bank retreat
from the NYC real estate market?
The Related exec on his Blackberry graveyard,
the firm’s NYC mega projects and his third round
of Harry Potter
Common’s CEO on nanny shares, eating two-pound salads and running to Mongolian metal
A roundup of news and data on the residential market
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
A roundup of news and data on the commercial market