The Real Deal

The Real Deal Considered the bible of New York City real estate, The Real Deal has become mandatory reading for everyone in the industry.

Since 2003, TRD has provided up-to-the-minute industry news and in-depth reports and profiles in our 60,000-circulation monthly magazine and on TheRealDeal.com, which receives more than 1 million unique visitors per month. Our content is available across multiple platforms, including a mobile app available to iPhone, iPad and Android users alike. The Real Deal has been repeatedly recognized for its journalism prowess, receiving the Society of American Business Editors and Writers’ 2013 award for general excellence and awards from the National Association of Real Estate Editors for “Best Commercial Trade Magazine,” “Best Residential Trade Magazine,” and “Best Web Site Solely Devoted to Residential, Commercial or Financial Real Estate and/or Home Design.” http://therealdeal.com/about-us/

WeWork, the struggling co-working giant attempting to turn itself around after a botched IPO attempt, is tapping industr...
02/01/2020

WeWork, the struggling co-working giant attempting to turn itself around after a botched IPO attempt, is tapping industry veteran Sandeep Mathrani as CEO.
Read more: http://ow.ly/AFvv50yaYQi
#WeWork #CoWorking #RealEstateNews #TheRealDeal

Professional golfer Louis Oosthuizen sold his Palm Beach Gardens estate for $5.5 million after slicing the listing price...
02/01/2020

Professional golfer Louis Oosthuizen sold his Palm Beach Gardens estate for $5.5 million after slicing the listing price.

Oosthuizen, who was ranked as one of the top golfers in the world, sold the 10,418-square-foot mansion at 12230 Tillinghast Circle to an unidentified buyer. The sale equates to $528 per square foot.

Read more: http://ow.ly/SQTR50yaChr

Younger generations are boosting the bottom line for Sam Zell’s #vanlife business.To date, baby boomers have been the co...
02/01/2020

Younger generations are boosting the bottom line for Sam Zell’s #vanlife business.

To date, baby boomers have been the core customer base for Equity Lifestyle Properties, Zell’s Chicago-based real estate investment trust for RV parks, mobile and manufactured multifamily homes. But that’s changing.

Read more: http://ow.ly/OHsR50yaC1G

South Florida @airbnb operators are cashing in on Super Bowl LIV.Nearly 84 percent of all Airbnb listings are booked bet...
02/01/2020

South Florida @airbnb operators are cashing in on Super Bowl LIV.

Nearly 84 percent of all Airbnb listings are booked between now and Sunday, the day of the big game, with hosts expecting more than 70,000 guest arrivals in Miami-Dade and Broward counties, according to Airbnb spokesperson Samuel Randall. Hosts will earn a combined $26.4 million in short-term rental income during Super Bowl LIV week.

Link in bio to read more.
#SBLIV
http://ow.ly/2LE650yaCHw

Do you agree with Stephen Schwarzman's outlook on real estate? Let us know in the comments below.⁣⁣Follow the link to se...
01/31/2020

Do you agree with Stephen Schwarzman's outlook on real estate? Let us know in the comments below.⁣

Follow the link to see what else he had to say about Blackstone's beginnings in real estate, how he doesn't get emotional about deals and more. http://ow.ly/n7F350yaCLM

NYC's mayoral race is looking bleaker than ever for the city’s real estate industry.At the moment, the primary contender...
01/31/2020

NYC's mayoral race is looking bleaker than ever for the city’s real estate industry.

At the moment, the primary contenders are Brooklyn Borough President Eric Adams, City Council Speaker Corey Johnson and City Comptroller Scott Stringer, all of whom have given real estate interests reason to worry.

Perhaps the biggest blow came Sunday when Bronx Borough President Ruben Diaz Jr., one of two major Democratic candidates accepting donations from real estate companies and professionals, dropped out of the race. “Without him in the race, there isn’t anyone who is going to be seen as a champion or standard bearer for the real estate industry,” said political consultant Gerry O’Brien.

But that could change if Shaun Donovan, an alumnus of the Obama and Bloomberg administrations, decides to run. Read more: http://ow.ly/CS1Y50yaCFI

Senator Brad Hoylman claims new city report on property tax reform will serve as a “blueprint” for reviving the pied-à-t...
01/31/2020
Sen. Brad Hoylman Demands Jeff Bezos Pay Pied-A-Terre Tax

Senator Brad Hoylman claims new city report on property tax reform will serve as a “blueprint” for reviving the pied-à-terre tax

Sen. Brad Hoylman is demanding that Amazon’s Jeff Bezos pay an additional tax on his 212 Fifth Avenue pied-à-terre.

TRDLA’s Winter Issue is packed with juicy profiles and interviews and a ranking too! Check out our cover story on embatt...
01/31/2020

TRDLA’s Winter Issue is packed with juicy profiles and interviews and a ranking too! Check out our cover story on embattled developer Mohamed Hadid, our sit-down with NMS head Neil Shekhter, the investigation into the ways that resi brokers are bracing for new pocket listing restrictions and our ranking of the top developers in the city!

Follow the link to subscribe today! https://therealdeal.com/la/magazine/january-2020/
Photographed by: Kevin Sanlon

#RealEstateNews #TheRealDeal #NewIssue #WinterIssue #LARealEstate

Bankrupt Forever 21 is asking the court to approve an auction, in hopes of finding a buyer who will keep the business go...
01/31/2020
Forever 21 Seeks Auction

Bankrupt Forever 21 is asking the court to approve an auction, in hopes of finding a buyer who will keep the business going

Bankrupt Forever 21 asked the court to approve a sale of substantially all of its assets, and is seeking a deal with a buyer who will keep the chain in business.

Developer Fotis Dulos, charged with killing his wife, is dead, according to his lawyer http://ow.ly/5gjF50y9DBs
01/31/2020

Developer Fotis Dulos, charged with killing his wife, is dead, according to his lawyer http://ow.ly/5gjF50y9DBs

Eliot Spitzer and his fiancee, Roxana Girand, have purchased two condos at the Concorde on East 65th Street in an off-ma...
01/30/2020
Eliot Spitzer, Fiancee Roxana Girand Buy Upper East Side Condos

Eliot Spitzer and his fiancee, Roxana Girand, have purchased two condos at the Concorde on East 65th Street in an off-market deal.

Eliot Spitzer and his fiancee, Roxana Girand, have purchased two condos at the Concorde on East 65th Street in an off-market deal.

A decade from now, the real estate marketplace may not be swarming with as many agents as there are today. Automation an...
01/30/2020

A decade from now, the real estate marketplace may not be swarming with as many agents as there are today. Automation and increased consolidation of business with top agents will whittle down the ranks.

Coldwell Banker CEO Ryan Gorman; Guy Gal, CEO of Side, a venture-backed residential brokerage that has raised over $60 million from investors; and Susan Daimler, senior vice presidnet of Zillow Group’s Premier Agent program, shared their predictions for the future of brokerage on a panel yesterday.

Follow the link to read what they said. http://ow.ly/1cpA50y97TO

Commercial real estate finance company Walker & Dunlop has acquired Aaron Appel’s AKS Capital Partners just a few months...
01/30/2020

Commercial real estate finance company Walker & Dunlop has acquired Aaron Appel’s AKS Capital Partners just a few months after the former JLL heavyweight founded it, the company announced Thursday. The price was not disclosed. http://ow.ly/v0ui50y96NE

Design Firm BIG Looks at “AI-chitecture” and 3D Printing to Help Build Sustainable Coastal CitiesBy Propmodo
01/29/2020
Design Firm BIG Looks at "AI-chitecture" and 3D Printing to Help Build Sustainable Coastal Cities | Propmodo

Design Firm BIG Looks at “AI-chitecture” and 3D Printing to Help Build Sustainable Coastal Cities
By Propmodo

In an era of proliferating “star-chitects,” Bjarke Ingels with his architectural firm BIG stands out as one of the A-list of built world celebrities. His company’s large-scale public works projects like the Amager Bakke, a power plant turned ski hill and visionary buildings like the 8 House, a...

The owner of Victoria’s Secret is in talks to potentially sell the company, as sales fall at the iconic lingerie brand.L...
01/29/2020

The owner of Victoria’s Secret is in talks to potentially sell the company, as sales fall at the iconic lingerie brand.

Leslie Wexner, who has built the retail empire of L Brands — the parent company of Victoria’s Secret — over nearly six decades, is also considering stepping aside as CEO, according to the Wall Street Journal.

Read more: http://ow.ly/5f7j50y8b14

Billy Macklowe has gone into contract to buy a controversial Park Slope development site.The developer has partnered wit...
01/29/2020

Billy Macklowe has gone into contract to buy a controversial Park Slope development site.

The developer has partnered with investor David Welsh to buy the Key Food grocery store at 120 Fifth Avenue for “less than $65 million,” according to the New York Post. The duo is planning 165 residences across two buildings, and the project would mark Macklowe's first foray into Brooklyn. Link in bio to read more.

Read more: http://ow.ly/CcDu50y86g3

Salmar Properties was previously required to dedicate most of its massive Liberty View Plaza to manufacturing uses. The ...
01/29/2020
Salmar Can Bring Office Tenants To Sunset Park's Liberty View Plaza

Salmar Properties was previously required to dedicate most of its massive Liberty View Plaza to manufacturing uses. The city is now allowing it to bring in as much as 268K sq ft of office tenants.

Salmar Properties formerly had to dedicate most of Liberty View Plaza to manufacturing. EDC is now letting it rent up to 268K square feet to office...

The Kansas City Chiefs and the San Francisco 49ers aren’t the only ones hoping to score a big win this weekend in South ...
01/29/2020

The Kansas City Chiefs and the San Francisco 49ers aren’t the only ones hoping to score a big win this weekend in South Florida.

As Super Bowl LIV ticket holders descend on Miami this week, ahead of the big game, luxury residential brokers and agents are holding open houses, setting up meetings with athletes and wealthy attendees, hosting events, and rolling out targeted social media campaigns.

Mark Zilbert of Brown Harris Stevens Miami calls it “the biggest week of the year.”

Read more: http://ow.ly/MtIg50y867Q
#SBLIV

“The Fairway of today is not the Fairway that we loved and believed in when fighting to bring them to the neighborhood,”...
01/29/2020
Landlord To Replace Red Hook Fairway With New Supermarket

“The Fairway of today is not the Fairway that we loved and believed in when fighting to bring them to the neighborhood,” said Gregory T. O’Connell, the landlord of the grocer's massive location in Red Hook.

O'Connell, whose father is the developer most associated with Red Hook's renaissance, said the private equity firm which took over Fairway in 2007 "diluted the strengths of the operation from bottom to top." He also vowed to repalce the supermarket with another grocery story if the bankrupted Fairway shuts down as expected in the next few months.
http://ow.ly/umHw50y830y

The landlord of the Red Hook Fairway said he will look to replace it with another supermarket if it closes — a better one than the once-beloved store has become.

A giant loft and a lofty ask for a resale at 220 Central Park South were the highlights of New York City’s priciest list...
01/28/2020

A giant loft and a lofty ask for a resale at 220 Central Park South were the highlights of New York City’s priciest listings last week.

The five priciest properties to hit the market last week had asking prices from nearly $12 million to $36 million. Combined, they totaled about $96 million — a drop from last week’s whopping combined listing value of $156.4 million.

01/28/2020

A roundup of today's biggest real estate news for Tuesday, January 28th, 2020.

As friends and associates of Faith Hope Consolo come to terms with revelations that the late broker fabricated details o...
01/28/2020

As friends and associates of Faith Hope Consolo come to terms with revelations that the late broker fabricated details of her upbringing, her real-life relatives have some questions of their own.

A probe of her will has been initiated by two sons of the father that New York’s self-described “queen of retail” hid from her New York world until her death in December 2018.
Read more: http://ow.ly/PCIa50y7aXA

The Connecticut developer accused of murdering his estranged wife was rushed to the hospital Tuesday afternoon after an ...
01/28/2020

The Connecticut developer accused of murdering his estranged wife was rushed to the hospital Tuesday afternoon after an apparent suicide attempt.⁣

Citing an official familiar with the case, the New York Times initially reported that the 52-year-old Fotis Dulos, who was charged earlier this month with murdering his wife Jennifer, had died Tuesday. But Dulos’ lawyer, Norm Pattis, said to the Hartford Courant that Dulos was rushed to the hospital with a pulse.⁣

http://ow.ly/CEu750y7kjk

The Corcoran Group and Citi Habitats are merging to better compete in an increasingly cutthroat brokerage business. The ...
01/28/2020

The Corcoran Group and Citi Habitats are merging to better compete in an increasingly cutthroat brokerage business.

The deal, announced Tuesday, will boost the company’s standing as one of the biggest firms in New York City with more than 2,400 agents responsible for $7 billion in annual sales and 22,000 rental transactions last year. The two operated as "sister" companies for nearly two decades.

Read more: http://ow.ly/vDBD50y7579

There's now a fourth lawsuit challenging New York's new rent law, which went into effect in June.Another group of landlo...
01/28/2020

There's now a fourth lawsuit challenging New York's new rent law, which went into effect in June.

Another group of landlords has filed a lawsuit arguing in a 77-page federal complaint that the law expands an unfair advantage for rich tenants, in violation of federal law. Link in bio to read more.

Read more: http://ow.ly/QBPB50y6Yap

#SPONSORED Going green finally makes business sense for New York building owners and managers. Thanks to newly enacted l...
01/28/2020
NYC Landlords Stand to Save Millions Thanks to New Law - The Real Deal New York

#SPONSORED Going green finally makes business sense for New York building owners and managers. Thanks to newly enacted laws and real estate oriented solar energy companies, landlords will save millions on utilities in the coming years.

OnForce Solar

Last April, the New York City council passed new emissions standards, known as Local Law 97 within the Climate Mobilization Act. The ambitious new leg

Kobe Bryant’s death in a helicopter crash Sunday triggered an outpouring of grief across the world. But one eXp Realty a...
01/28/2020

Kobe Bryant’s death in a helicopter crash Sunday triggered an outpouring of grief across the world. But one eXp Realty agent saw the tragedy as an opportunity, and an off-color remark she made on social media has now led to her dismissal.

http://ow.ly/6bkZ50y6v10

#KobeBryant

In an industry known for sharp elbows, Jeff Blau’s seen as the nice guy who shows up to his kid’s hockey practice, to Cy...
01/27/2020

In an industry known for sharp elbows, Jeff Blau’s seen as the nice guy who shows up to his kid’s hockey practice, to Cycle for Survival events at Equinox and to the Metropolitan Transportation Authority boardroom when it’s time to hash out a deal and Related founder Stephen Ross is in China. More than a dozen people interviewed described Blau as a consummate dealmaker — the kind of person who clicked with Ross as a student at the University of Michigan and then, two decades later, skillfully assembled the financing for Related’s biggest project yet.

Read more: http://ow.ly/UdHJ50y6fvk

Compass is laying off up to 40 employees across its IT, marketing and M&A teams, the company confirmed Monday.⁣⁣Sources ...
01/27/2020

Compass is laying off up to 40 employees across its IT, marketing and M&A teams, the company confirmed Monday.⁣

Sources said the move, which is taking place this week, is part of a broader reorganization as the SoftBank-backed company consolidates roles that service agents. ⁣

Read more: http://ow.ly/jSQl50y6mRa

That’s right, @akon is behind one of the largest, if not the largest real estate project underway in West Africa.The Sen...
01/27/2020

That’s right, @akon is behind one of the largest, if not the largest real estate project underway in West Africa.

The Senegalese-American musician and producer posted on social media recently that he had finalized an agreement for his 2,000-acre “Akon City” megaproject outside Dakar. There are some reports that the project broke ground last spring, while others say this month’s agreement will allow Akon’s team to break ground.

Read more: http://ow.ly/iTpU50y6btt

Developer William Zeckendorf is angling to build an army of New York homeowners to lobby lawmakers.⁣⁣⁣⁣Residential prope...
01/27/2020

Developer William Zeckendorf is angling to build an army of New York homeowners to lobby lawmakers.⁣⁣
⁣⁣
Residential property owners in New York City could, if mobilized, become an influential group that brokerage executives believe would be aligned with the industry when it comes to legislation affecting real estate taxes and property valuation. ⁣⁣

Read more: http://ow.ly/7JUG50y6bgF

Extell has announced that its Central Park Tower — the tallest condo tower in the world at 1,550 feet — will be home to ...
01/27/2020

Extell has announced that its Central Park Tower — the tallest condo tower in the world at 1,550 feet — will be home to the world’s highest private residential club.⁣⁠⠀
⁣⁠⠀
Located more than 1,000 feet in the air, the “100th Floor” at CPT will offer approximately 50,000 square feet of luxury services and amenities across three floors. The actual 100th floor will span over 8,300 square feet and includes a private ballroom, dining room, bar, full-service kitchen, and wine and cigar lounges. ⁣⁠⠀
⁣⁠⠀
Check out below for a peek at what the club might look like.

#CentralParkTower #RealEstateNews #TheRealDeal

01/27/2020

New York’s real estate bigwigs offer predictions for 2020

Real estate players at the Real Estate Board of New York’s annual gala were glad to put 2019 behind them, but saw reasons for optimism. Watch the video above to find out what they were.

Fendi and Berluti have signed leases for 595 Madison just a few days after Coach shut its doors at the location.
01/27/2020
Fendi, Berluti Take over Coach Space at 595 Madison

Fendi and Berluti have signed leases for 595 Madison just a few days after Coach shut its doors at the location.

Fendi and Berluti have signed leases at Vornado Realty Trust’s 595 Madison Avenue, the flagship store which Coach recently vacated.

A majority of Democratic state senators and assembly members have signed on to a “good cause” eviction bill, and backers...
01/27/2020

A majority of Democratic state senators and assembly members have signed on to a “good cause” eviction bill, and backers seeking to build on that momentum released a poll Monday gauging public support for the concept. http://ow.ly/UTBn50y5N0r

Investors are still paying top dollar for multifamily assets — if they are outside of the reach of rent control.Across t...
01/26/2020

Investors are still paying top dollar for multifamily assets — if they are outside of the reach of rent control.

Across the country, investors paid more on average per apartment in the third quarter of 2019 than they did in 2018 — $158,296 per door, up from $151,766 in 2018 and $106,074 in 2012, according to an analysis by Marcus & Millichap.

Follow the link to learn more.
http://ow.ly/bvy750y4s5h

#MultifamilyHomes #Home #RealEstateNews #TheRealDeal

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The Real Deal | Award-Winning Real Estate News

The Real Deal has become mandatory reading for everyone in the industry. Since 2003, TRD has provided up-to-the-minute industry news and in-depth reports and profiles in our 65,000-circulation monthly magazine and on TheRealDeal.com, which receives more than 2 million unique visitors per month. Our content is available across multiple platforms, including a mobile app available to iPhone, iPad and Android users alike.

The Real Deal has been repeatedly recognized for its prowess in real estate media, receiving the Society of American Business Editors and Writers’ 2013 award for general excellence. In 2016, TRD won a record 12 awards from the National Association of Real Estate Editors, including the gold for best residential trade magazine and a silver award for best commercial trade magazine.

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