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/

Fresh off a $123 million funding round, States Title founder and CEO discusses digitizing closings, taking on the old gu...
06/05/2020

Fresh off a $123 million funding round, States Title founder and CEO discusses digitizing closings, taking on the old guard and how the pandemic could wipe out archaic regulation.
Follow the link below to subscribe and read the full interview. http://ow.ly/ZDVY50A0dXn

Facebook, Twitter and Shopify have spearheaded Big Tech’s permanent #WFH movement. So which office landlords and cities ...
06/05/2020

Facebook, Twitter and Shopify have spearheaded Big Tech’s permanent #WFH movement. So which office landlords and cities are most exposed to those tenants? Follow the link to subscribe and find out. http://ow.ly/edIM50A06XX

06/05/2020
TRD Talks Live Social Cut 6-5-2020.mp4

Former New York City Deputy Mayor Alicia Glen and Sidewalk Labs CEO Dan Doctoroff discussed population density, urban development in the age of #coronavirus and the nationwide protests sparked by the killing of George Floyd.

Watch the highlights from the latest #TRDTalksLIve below and follow the link to watch the full video. http://ow.ly/fNfZ50A0235

It’s hard to sell one luxury apartment these days, but what about 20?In New York City, some developers are hoping to cle...
06/05/2020

It’s hard to sell one luxury apartment these days, but what about 20?

In New York City, some developers are hoping to clear a glut of unsold units by offering bulk deals at discounted prices. Now, developers Simon Baron and Quadrum Global are offering a 10 percent discount on the 26 remaining units at their 38-unit Chamberlain condop on at 269 West 87th Street.

Read more: http://ow.ly/Yv5950zZMmz

WeWork’s critics have long speculated that the company could be forced to file for bankruptcy in a downturn.The office g...
06/05/2020

WeWork’s critics have long speculated that the company could be forced to file for bankruptcy in a downturn.

The office giant had $47.2 billion worth of lease obligations on its books as of late last year, and it is reportedly looking to reduce those rent liabilities by 30 percent amid a pandemic that calls its business model into question.

If a bankruptcy, WeWork would have several scenarios laid out in front of it, experts told The Real Deal. Follow the link to find out what they are: http://ow.ly/L3YE50zZMjl

Join us today for a special programing at 5 PM as TRD publisher Amir Korangy enters our virtual newsroom to deconstruct ...
06/05/2020

Join us today for a special programing at 5 PM as TRD publisher Amir Korangy enters our virtual newsroom to deconstruct the doubled effects of the pandemic and nationwide protests on real estate. As protestors pushed for systematic change, real estate’s top figures spoke out—but will their words lead to action? RSVP now and hear our reporters’ take. http://ow.ly/2kXh50zZG2q

That the National Association of Realtors – not a government body, but a private, for-profit trade group – has imposed a...
06/04/2020
Long live NAR: Agents won’t defy powerful trade group in pocket listings spat

That the National Association of Realtors – not a government body, but a private, for-profit trade group – has imposed a “law” banning pocket, or whisper, listings, has infuriated prominent agents. NAR has since been hit with two antitrust lawsuits over the move.

Subscribe to read how agents feel the ban will impact the high-end market, where many deals are done off market.

Don’t get Gary Gold started on the National Association of Realtors’ ban on pocket listings.

“I think it’s pathetic what’s happening right now,”...

Manhattan is boarded up, but citywide reopening will proceed Monday, Governor Andrew Cuomo says
06/04/2020
NYC to Reopen June 8 Despite Looting: Cuomo - The Real Deal

Manhattan is boarded up, but citywide reopening will proceed Monday, Governor Andrew Cuomo says

New York City is on track to reopen June 8, Gov. Andrew Cuomo said, despite looting that has prompted retailers across the borough to board up...

Three months ago, Manhattan’s prime corridors were packed with shoppers, tourists and passersby. Covid-19 changed all th...
06/04/2020

Three months ago, Manhattan’s prime corridors were packed with shoppers, tourists and passersby. Covid-19 changed all that — and then came looters. On Wednesday afternoon, those same streets were largely empty with the exception of workers boarding up shop windows.

Check out above to see what some of Manhattan’s prime retail corridors look like now. Read more: http://ow.ly/VD9N50zZfs1

Agents are trying to take back the power as virtual tours and contact-less showings threaten to displace them.Front and ...
06/04/2020

Agents are trying to take back the power as virtual tours and contact-less showings threaten to displace them.

Front and center is Julia Spillman, Douglas Elliman broker and CEO of the John Gomes and Fredrik Eklund Team, who is leading an effort to develop an app that she said would put agents “back into the driver’s seat.

Read more about the app: http://ow.ly/Mg9e50zZ8z0

Brookfield Property CEO Brian Kingston is confident malls and other retail investments will survive the pandemic and say...
06/04/2020

Brookfield Property CEO Brian Kingston is confident malls and other retail investments will survive the pandemic and says his firm supports the protests over “fair and equal treatment”.
Follow the link to read the full Q&A with Kingston. http://ow.ly/n2E450zZ2gZ

A group of investors have filed a class action lawsuit against WeWork — the latest of a series of disputes stemming from...
06/04/2020

A group of investors have filed a class action lawsuit against WeWork — the latest of a series of disputes stemming from the company’s failed public offering.

In a complaint filed Wednesday in San Francisco’s federal court, the investors claimed WeWork executives overhyped the company’s business plan in order to sell stock.

Learn more: http://ow.ly/IQAP50zYZPV

06/04/2020
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Nationwide protests over the killing of George Floyd at the hands of police have quickly shifted to a larger discussion about the need to address systemic racism. Watch NPR's Code Switch’s video below to see the oppressive Home Owner’s Loan Corporation’s redlining maps from the 1930s and how it has managed to suppress the African American community decades later.

06/04/2020

Publisher of Brick Underground, a consumer-focused resi site, Teri Rogers talks virtual co-op interviews & New Yorkers’ biggest pain points during pandemic.

Watch highlights from #TheInterview above and follow the link for the full video. http://ow.ly/HoXz50zYSPg

Brian Kingston, CEO of Brookfield, spoke with TRD about the firm’s $5 billion retail relief plan, the George Floyd prote...
06/04/2020

Brian Kingston, CEO of Brookfield, spoke with TRD about the firm’s $5 billion retail relief plan, the George Floyd protests and more. http://ow.ly/eapa50zYEBn

Simon Property Group is no longer cutting the Gap slack on rent payments, suing the apparel firm for $66 million for unp...
06/04/2020

Simon Property Group is no longer cutting the Gap slack on rent payments, suing the apparel firm for $66 million for unpaid rent at 400 stores http://ow.ly/5SGY50zYkjM

WeWork may exit or rethink one in five of its leases as the troubled co-working firm slashes expenses and chases profita...
06/03/2020

WeWork may exit or rethink one in five of its leases as the troubled co-working firm slashes expenses and chases profitability. Follow the link to see what WeWork's strategy entails. http://ow.ly/Jj5R50zY6If

Rent stabilization has been a dominant force in the city’s real estate for generations, and was cemented in place by the...
06/03/2020

Rent stabilization has been a dominant force in the city’s real estate for generations, and was cemented in place by the state legislature a year ago. But if the exodus of New Yorkers continues, it could bump the housing vacancy rate up and trigger the end of the controversial policy.
Read the full story: http://ow.ly/qHWG50zY1kr

As anger and frustration over racism and police brutality grip the nation, real estate executives and business leaders a...
06/03/2020

As anger and frustration over racism and police brutality grip the nation, real estate executives and business leaders are promising change — and pleading for peaceful protest.
Follow the link to read more about what they have to say. http://ow.ly/kjTD50zXQ7s

Billionaire grocer and developer John Catsimatidis is exploring a bid for the 2021 mayoral race. http://ow.ly/alKs50zXI4...
06/03/2020

Billionaire grocer and developer John Catsimatidis is exploring a bid for the 2021 mayoral race. http://ow.ly/alKs50zXI4t

Though some retailers were hit by looters on Tuesday night, overall violence appeared to be on the decline after the cit...
06/03/2020
NYC Sees Less Looting After Tightened Curfew

Though some retailers were hit by looters on Tuesday night, overall violence appeared to be on the decline after the city tightened its curfew and placed limits on vehicular traffic.

New York City’s second night of curfew sees less property damage, looting and violence.

Bill Rudin — whose firm owns more than 15 million square feet of holdings in Manhattan — talks remote work, property tax...
06/02/2020

Bill Rudin — whose firm owns more than 15 million square feet of holdings in Manhattan — talks remote work, property taxes and the future of tech leasing in NYC. Click the link to subscribe and read. http://ow.ly/q4qO50zX3yE

Forbearance requests appear to be leveling off, according to weekly figures released by the Mortgage Bankers Association...
06/02/2020

Forbearance requests appear to be leveling off, according to weekly figures released by the Mortgage Bankers Association.

Mortgages in forbearance made up 8.5 percent of servicers’ portfolios for the week. That means roughly 4.2 million homeowners are now in forbearance.

Follow the link to read more. http://ow.ly/XHFU50zX1fK

Several luxury stores were smashed and ransacked Sunday night after looting broke out in Soho. The next morning, workers...
06/02/2020

Several luxury stores were smashed and ransacked Sunday night after looting broke out in Soho. The next morning, workers were deployed to board up luxury stores and load stock into trucks. The action proved wise, as looting intensified across Manhattan later that night. Read more: http://ow.ly/F8Q350zX12p

What started as protests against the systemic issues that led to a white Minneapolis police officer who is charged with ...
06/02/2020

What started as protests against the systemic issues that led to a white Minneapolis police officer who is charged with murdering a black man in custody, morphed into damage of L.A.’s most vibrant commercial corridors. At least three-dozen L.A. County stores were looted in the past 72 hours, according to an analysis of interviews, news reports and social media messages by The Real Deal.

Read more: http://ow.ly/6XuE50zWXnb

Vacasa, a wounded vacation rental unicorn, secured $108 million from a tech investor that helped bail out @Airbnb in Apr...
06/02/2020

Vacasa, a wounded vacation rental unicorn, secured $108 million from a tech investor that helped bail out @Airbnb in April.

Read more about the funding round, which brings Vacasa’s total funding to $634.5 million. http://ow.ly/SpaC50zWULY

One of the last executives to remain from Adam Neumann’s reign of WeWork is exiting the struggling co-working company.Aa...
06/02/2020

One of the last executives to remain from Adam Neumann’s reign of WeWork is exiting the struggling co-working company.

Aaron Ellison, who joined WeWork in July 2018 when it was one of the fastest growing real estate companies on earth, is out. Read more: http://ow.ly/Dhz050zWR28

Prominent New York City retail spaces — including the Macy’s flagship store and Fifth Avenue retail corridor — were hit ...
06/02/2020

Prominent New York City retail spaces — including the Macy’s flagship store and Fifth Avenue retail corridor — were hit by widespread looting on Monday night.
http://ow.ly/tPF850zWDdN

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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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