The Real Deal New York

story index

September 2011
  • The best of 100 issues

    A look back at 20 of the biggest stories and most colorful real estate figures The Real Deal has covered since launching

    Cover artwork by Squat Design In its eight years of publication, The Real Deal has covered the real estate industry in a city that’s been transformed by a massive building boom, was crippled by the subsequent bust, and is now in the midst of a tentative recovery. The compendium of stories we’ve written runs the gamut from the record-setting building and apartment purchases during the boom, to the toppling of mega-developers during the bust, to […]… [more]

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  • The ‘malling’ of Manhattan

    A historic amount of large-scale retail is coming to NYC

    Clockwise from top left: World Trade Center site, Port Authority Bus Terminal, South Street Seaport, Hudson Yards, World Financial Center and Farley Post Office/Moynihan Station “Mall” has been a four-letter word in the Manhattan retail world for some time now. Despite that, Manhattan property owners have begun to — or are planning to — rehab and build a historic amount of large-scale retail over the next few years. Currently, developers such as the Westfield Group, […]

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  • CMBS shockwaves

    A look at the abrupt summer stall in the commercial mortgage market that could hinder New York City’s commercial real estate recovery

    Illustration by David ColeJuly 27 was a dark day for commercial mortgage-backed securities, or CMBS. On that day, Goldman Sachs and Citigroup were set to begin selling a $1.5 billion batch of CMBS, secured in part by some New York City properties. But at the last minute, Standard & Poor’s essentially put the kibosh on the deal. The rating agency said it had discovered a “glitch” in its methodology and would need more time to […]

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  • Chetrits deny split

    While the family says they’re still operating as a united front, some sources say they’ve divided the business—perhaps to protect their assets

    Tongues wagged in the real estate industry when news broke that the Chetrit Group — one of the city’s most prominent investment firms — had split in two. Brothers Joseph and Meyer Chetrit would be relocating from the company’s longtime headquarters at 404 Fifth Avenue into offices at 512 Seventh Avenue, Real Estate Alert reported in June. Meanwhile, their two younger brothers, Jacob and Juda, would continue working out of the Fifth Avenue office, but […]

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  • The future of new development

    A look at the drop in NYC offering plans, the shift to boutique condos and conversions, and the new calculus for affordable housing

    1212 Fifth AvenueWhen the stock market is plummeting and panicked investors are pouring money into gold, it would seem a less-than-prudent moment to predict the next cycle of new residential development in New York City. But despite the economic turmoil, some New York City developers and their consultants are holding fast to the theory that the increasing demand for living space in the city means that it’s a good time to bet on new residential […]

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  • Lawyers get active again

    Real estate attorneys are returning to work on deal transactions

    In 2009, the landscape was bleak for New York City real estate lawyers. Many of the big firms tried shifting people between departments to deal with the slowdown in real estate business caused by the economic downturn. Then, they let people go through attrition, and even outright layoffs. But it still wasn’t enough, lawyers said. “When we were at our smallest, we still weren’t as busy as we’d like to be,” said Robert Ivanhoe, chairman […]

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  • Tags: at the desk of

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  • Blockbuster deals disappear in office leasing

    While few larger office leases get signed, smaller Manhattan spaces get gobbled up, brokers say

    The Manhattan office leasing market tightened last month even as the unpredictable stock market and stalled national economy unsettled landlords and tenants alike. Landlords, who have seen their leverage strengthen over the past year, lost a bit of confidence because of the new round of economic turmoil, some Manhattan brokers said. “The market was rising rather quickly, particularly in the better product and the better locations, [but] I think tenants’ expectations [now] are that the […]

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  • Pricing out the World Trade Center

    With 10th anniversary of attacks approaching, The Real Deal breaks down the 16-acre site building by building

    World Trade Center siteConstruction crews have been working feverishly at the World Trade Center site in anticipation of the 10th anniversary of the Sept. 11 attacks later this month. But when families and friends of the victims gather there for the commemorative ceremony and the opening of the National September 11 Memorial, they will also see major progress at many of the buildings around them. Indeed, lately — after years of delays and political infighting […]

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  • Tags: landlords

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