The Real Deal New York

September 2016 Issue

Who’s jumping ship?

As the battle heats up between Clinton and Trump, some of the Republican’s industry supporters turn their backs

When the billionaire Republican activist and Hewlett-Packard CEO Meg Whitman endorsed Hillary Clinton for president last month, it had almost nothing to do with Clinton or her politics. In an interview with the New York Times, Whitman lashed out against the GOP nominee Donald Trump, calling him “a dishonest demagogue” who has “undermined the character of the nation.” A month before, Whitman had spoken with Clinton by phone. While the […]… [more]

Meatpacking repackaged

With retail availability on the rise, will the area’s reinvention pan out?

The Meatpacking District has always been a study in contrasts, but never more so than today. The neighborhood teems with tourists climbing on and off the High Line, and below […]… [more]

The ‘closed’ fund conundrum

Blackstone deal shines light on ‘closed-end funds,’ but as market shift looms these investment vehicles could face new pressure

When news broke earlier this summer that the Blackstone Group was planning to take its rental-home company, Invitation Homes, public by the first half of 2017,… [more]

Wheels of fortune

With mergers, acquisitions and funding rounds on the rise, industry players are rethinking what residential brokerages are really worth

When the venture-backed brokerage Compass secured a cash infusion of $75 million last month, the response from industry rivals was fast and… [more]

Racing against
the recession

With the clock ticking and the economy sending mixed signals, New York City developers change plans to try to outsmart the market

At the beginning of 2013, Joseph Chetrit and David Bistricer set the city’s real estate circles abuzz when they outbid… [more]

Kushner conflicted

The real estate scion’s role in Donald Trump’s inner circle — the latest in a string of conflicts — has put him at direct odds with many of his
business colleagues

Last June, Mary Ann Tighe, one of the city’s top commercial real estate brokers, had an awkward exchange with New… [more]

Co-working spins off

A cottage industry of niche office share providers is vying for a slice of the WeWork-dominated market

At first glance, the Center for Social Innovation looks like your typical co-working or start-up office in the city. Inside the 27,000-square-foot former warehouse space at 601 West 26th Street […]… [more]

The Closing:
David Lichtenstein

The billionaire CEO on his rabbi father, soul-crushing cynics and buying Chagalls

David Lichtenstein is the CEO of the Lightstone Group, a Manhattan-based real estate firm with a $2 billion portfolio that includes 11,000 apartments and… [more]

Where the deal isn’t
the only drama

In memoir, Francis Greenburger writes about a life that goes far beyond real estate

Francis Greenburger, the CEO of Time Equities and former “King of Co-ops,” has long been the industry’s renaissance man. From his early days in the 1980s… [more]

Friend to some, foe to others

Josh Zegen and his team at Madison Realty Capital have amassed a
flurry of foreclosures while upping their lending game

When Madison Realty Capital bought the debt on a senior assisted-living facility in Park Slope late last year, the property at 1 Prospect Park West was … [more]

NYC’s all-time condo kings

A first-ever ranking of the developers who’ve built the most condos in Manhattan in the last half-century

Residential condo development is the riskiest sector within the risky business of real estate. Evidence for that is found in both the outsized returns builders can achieve with a success […]… [more]

NYC’s TAMI tenants
grow up, move out

The hip firms that have dominated office leasing in Manhattan for the last five years are getting wiser and more creative when it comes to finding space

In 2014, the leasing activity of TAMI (technology, advertising, media and information) tenants surpassed… [more]

Paradise or pipe dream?

The Lowline looks impressive, but will it evoke Mother Nature or a movie set?

Although there is always considerable risk involved in writing about an architectural project that has not yet broken ground, rarely have the perils been greater than in regard to the […]… [more]

Manhattan’s growing ‘shadow’

Shadow inventory soars, while prices on high and low ends move in opposite directions

In the annals of residential real estate, the dog days of summer are never a good time to sell an apartment. So it’s not surprising that fewer than 1,000 Manhattan […]… [more]

The retail bargain rush

Opportunistic tenants are taking advantage of Manhattan’s soft retail market and driving deals

After two years of decline, the city’s retail market is experiencing a sudden burst of activity. Retail tenants with an eye for a deal are making the most of the […]… [more]

Editor’s note:
Our stupefying times

It used to be the economy, stupid. The fate of the nation’s economic health seems to have taken a backseat in presidential politics this time around more than in any […]… [more]

Features

Real estate pros share picks for books on race in America, Cornelius Vanderbilt and FDR’s pivotal year
Three years into Columbia University’s expansion, a new urban campus is taking shape uptown
A roundup of news and data on the residential market
A roundup of news and data on the commercial market
The Silvershore Properties co-founder on loving the Knicks and hating brokering
A roundup of real estate-related happenings
from last month
The JLL loan broker on Olympic weightlifting, clubbing with clients and brokering mega loans
The funniest and most insightful comments
on real estate

Comings and Goings

Daniel Moore has joined The Rockefeller Group as executive vice president and head of urban development nationally. Moore was previously a managing director at Hines.  Savills Studley has hired Melissa […]… [more]