As the market struggled this year and last, these buyers saw opportunities
From the October issue: Over the past two years, companies like SL Green Realty Trust and
investor Sam Zell’s Equity Residential have trumpeted their purchases
of distressed properties in New York City. Brokers have lauded them as
savvy investors who managed to snap up multiple assets from sellers who
overreached during the boom. But there are other companies, such as Irving Langer’s little-known
Rainbow Estates Group in Brooklyn and Savanna Partners in Midtown,
which have also been on a tear, acquiring properties in Manhattan and
the boroughs — often with little fanfare. This month, using data from real estate tracking firm Real Capital Analytics, The Real Deal ranked the top 20 buyers in New York City between the beginning of 2009 and the middle of last month. [more]