Development

Development

Development is the process of orchestrating the planning, creation, change, or improvement of real estate.

Development Q&A

What is real estate development?
Real estate development encompasses a variety of processes and can mean different things. The process can include renovation of an existing space, altering a space to suit a new purpose, or developing raw land from start to finish. Although real estate development is separate from construction, real estate developers may oversee construction processes. Developers may require consultants to plan a space, architects to design it, engineers to configure, lenders to finance, and contractors to build, all within one project. Development can occur under the auspices of a pre-existing buyer or owner of land or without one; the latter is called speculative development.
Who develops real estate?
Development teams include a variety of professionals to help development processes from beginning to end. They utilize lawyers, consultants, architects, site planners, and more before any sort of construction begins. The Real Deal compiles an annual list of the largest developers in New York City. In 2018, New York's developers with the most square feet of projects in the works were Related Companies, Brookfield Property Partners, Tishman Speyer, GID Development Group, and SL Green Realty.

The Latest

Council member Laurie Cumbo  and a rendering of the Bedford-Union Armory (Getty; Bedford Armory)

Student suspended after blasting lawmaker’s pro-development stance

A student is suing a New York City Council member, alleging the politician had her suspended for publicly criticizing...

Student suspended after blasting lawmaker’s pro-development stance
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale Group and Wafra Capital Partners are seeking a five-year, $860 million loan to redevelop 111 Wall Street. The...

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
Clockwise from left: 950 University Avenue in the Bronx, 27-55 Jackson Avenue in Queens, 149 Pioneer Street in Red Hook and 416 Metropolitan Avenue in Williamsburg (Google Maps)

EB-5 investor snags Hunters Point resi development: Mid-market sales report

The Bronx, Brooklyn and Queens dominated the middle of the investment sales market after Labor Day, while Manhattan saw...

EB-5 investor snags Hunters Point resi development: Mid-market sales report
Port Authority Bus Terminal and AECOM CEO Troy Rudd (Roger Rowlett via Wikipedia; AECOM)

“Worst place on earth” may be buried underground

The “worst place on earth” may be buried under the earth. The Port Authority is considering three plans for...

“Worst place on earth” may be buried underground
From left: David Singelyn of Homes 4 Rent, Jacque Petroulakis of NextMetro, and Adam Adler of Global City (Photos via Nexmetro, Global City, Singelyn via Cal Poly Pomona)

Developers bet big on build-for-rent in these uncertain times

Since moving from an apartment building in Allen, Texas to a two-bedroom house in nearby McKinney in April, Joy...

Developers bet big on build-for-rent in these uncertain times
New York City Council member Brad Lander (Getty)

Brad Lander calls for city to use land banks

New York City Council member Brad Lander thinks the city should take over distressed properties in order to prevent...

Brad Lander calls for city to use land banks
2870 Ocean Avenue in Brooklyn (Google Maps)

Chetrit firm pays $119 psf for Sheepshead Bay site

A Chetrit family firm paid $15.5 million for a Sheepshead Bay parcel with 130,000 square feet of development rights....

Chetrit firm pays $119 psf for Sheepshead Bay site
HFZ Capital chairman Ziel Feldman and the XI sales gallery at 25-27 Little West 12th Street (Photos via Owen Hoffmann/Patrick McMullan via Getty Images; Craig Barritt/Getty Images for XI Gallery)

HFZ extends XI sales gallery lease, ending lawsuit

Ziel Feldman and his firm, HFZ Capital, settled a dispute involving the sales gallery for its XI condominium project...

HFZ extends XI sales gallery lease, ending lawsuit
Richard Ohebshalom of Pink Stone Capital and the site at 111 Washington Street (Google Maps)

Ohebshalom’s FiDi development site, freed of legal shackles, hits market

Legal entanglements that tied up a Financial District development site for years have been stripped away and its new...

Ohebshalom’s FiDi development site, freed of legal shackles, hits market
From left: Donald Trump (pictured in the 1980s), Steve Ross, Charles Kushner, Harry Macklowe with (inset) Hiten Samtani and Charles Bagli (Getty, Sasha Maslov)

Scoundrels of the skyline: Charles Bagli on the most colorful characters in the real estate biz

When Charles Bagli first started poking into the businesses and lives of New York’s real estate elite more than three decades ago, he made...

Scoundrels of the skyline: Charles Bagli on the most colorful characters in the real estate biz
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