October 2019 Issue

A-Rod’s real estate playbook

The retired all-star Yankee has been building his real estate portfolio nationally for years. But now, he’s coming for New York and South Florida.

Alex Rodriguez has seen both his professional and personal life covered exhaustively in newspapers across the country for decades now. But since retiring as the Yankees’ star third baseman in 2016 — and, according to Forbes, pocketing over $480 million during his 22-year pro-baseball career — he’s become even busier. He’s now juggling regular media appearances with color commenting baseball games (he’s a broadcaster for Fox Sports and part of… [more]

WeWork’s landlords buckle up

With the company in chaos, property owners brace for the worst

For New York City landlords needing a quick fix to fill empty office space, WeWork has been a go-to tenant for years. Now, with the office-space company in turmoil, those… [more]

Behind Blackstone’s
“capital strike”

The private equity giant does a 180 on shelving vacant apartments at Stuy Town following TRD’s reporting

Blackstone had every reason to oppose the overhaul of New York state’s rent law in June. The private equity giant … [more]

The Israeli bond
market shakeout

Following the crash at the turn of the year, NYC developers looking to raise funds on the Tel Aviv Stock Exchange face a more selective market

When Silverstein Properties announced plans to raise roughly $50 million… [more]

StreetEasy tensions flare up again

Firm heads and agents accuse the listings portal of stealing clients and strong-arming brokerages into collaborating

StreetEasy is at the center of controversy once again. In the past month, two separate incidents laid bare the latest animosities between the online listings giant and the city’s top… [more]

Panic at Prodigy

Rodrigo Niño’s plan was to democratize real estate with his crowdfunding platform, but investors now fear they will lose everything

In 2011, Rodrigo Niño was weighing his own mortality. The real estate executive, originally from Colombia, had been diagnosed with stage three melanoma. … [more]

Crowded out?

Crowdfunding was once a darling of the startup space, but some early adopters have pivoted into other areas and VC backing has fizzled

Crowdfunding was once touted as the next big thing — a way for average investors to get into the lucrative world of… [more]

The Closing: Steven Holl

The veteran architect on finally finishing the Hunters Point Library, marrying his student and being liberated in China

Famed architect and watercolorist Steven Holl founded his company as a two-person practice in Chelsea in 1977. The firm has since grown to 40 people… [more]

NYC’s barrister brain trust

Law firms are getting ‘inundated’ with calls in the wake of Albany’s rent reforms as they also juggle complex office leases, mega-loans and distressed funds in today’s uncertain market

The calls began almost as soon as the new rent laws passed. Overnight, the sweeping regulations — which Gov. … [more]

How much are NYC hotels hurting?

The five boroughs have a swollen pipeline of hotel projects, and revenue is moving in the wrong direction as the market inches closer to a recession

During a recent earnings call, Starwood Property Trust CEO Barry… [more]

Debt cuffs: Corporate real estate’s riskiest balance sheets

A look at which publicly traded real estate firms are the most overleveraged as U.S. corporate debt hits record levels and the economy runs on borrowed time

 To back its risky instant home-buying program, Zillow Group opened two credit lines with Credit Suisse and Citibank over the past 14 months totaling $1 billion. The revolving debt pushed… [more]

Power lunch:
Breaking bread at Pastis

Barry Sternlicht, Ziel Feldman, Bobby Cayre and Jared Epstein talk about retail bankruptcies, the U.S. Postal Service and shopping at Hermès while dining at the Meatpacking celebrity hotspot

It was drizzling when four development pros recently wedged into a half-moon-shaped banquette at Pastis in the Meatpacking District. Amid the din of an animated lunch crowd, The Real Deal… [more]

Residential market report

From a growing glut of empty condos to record rent prices in Manhattan and Brooklyn, a look at what’s happening in the world of resi

NYC condo market showing signs of a recession The latest numbers show more signs of trouble for New York City’s condo market. About 25 percent of new condo units constructed… [more]

Commercial market report

From office and retail tenant protections to REITs rushing the green bond market, a look at some of the latest news in the commercial sectors

Commercial landlords face new fines as City Council passes anti-harassment bill The New York City Council approved… [more]

Editor’s note: Recession fears and shelved IPOs

“I don’t know why anyone was paying [Adam] for the word ‘we.’ The only word he knew was ‘I.’” Those were the reflections of a former WeWork executive on the… [more]

Features

Bernie Sanders, Elizabeth Warren, AOC and others propose progressive housing policies that rile real estate — and would cost the industry big time
AvalonBay’s top NYC development exec on flying to Tokyo for a single meeting, witnessing Mets history in 1969 and his latest megaproject on the UWS
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