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 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 are most exposed to those tenants? Follow the link to subscribe and find out. http://ow.ly/edIM50A06XX
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
Miguel McKelvey is leaving WeWork, the embattled co-working firm he helped found in 2010.
WeWork co-founder Miguel McKelvey will leave WeWork by the end of the month.
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 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 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 “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,”...
In the latest #TRDTalksLive, Center for Active Design's Joanna Frank, ODA's Eran Chen and DHA Capital's Dan Hollander discuss how architecture and design will have to evolve to stem the spread of infectious http://ow.ly/CzvH50zZkmd highlights above and follow the link to watch the full webinar. http://ow.ly/cMLX50zZkmm
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 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 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 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 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
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.
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 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 unpaid rent at 400 stores http://ow.ly/5SGY50zYkjM
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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
Real estate Investment firm Sapir Corp. is going private, after shareholders approved the buyout offer by Alex Sapir.
Sapir Corp. is going private, as the developer met the 95-percent threshold to buy back its outstanding shares on the Tel Aviv Stock Exchange.
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
Compass’ Robert Reffkin recounts being stopped by police, passed over by taxis
http://ow.ly/kE6l50zY0N8
As a black man, Compass’ Robert Reffkin was stopped by police, rejected by taxis and felt isolated in white workplaces.
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/alKs50zXI4t
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 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.
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 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
Compass is restarting two lending programs — with caveats.
Compass is reinstating its Concierge and bridge lending programs, with new limits to minimize risk.
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 April.
Read more about the funding round, which brings Vacasa’s total funding to $634.5 million. http://ow.ly/SpaC50zWULY
As the coronavirus pandemic took hold, BIDs told landlords that boarding up stores sent the wrong message. That guidance has changed as districts grapple with looting.
Business Improvement Districts have shifted their guidance as looting and vandalism plague some areas of the city:
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 by widespread looting on Monday night.
http://ow.ly/tPF850zWDdN
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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
In the latest #TRDTalksLive, Center for Active Design's Joanna Frank, ODA's Eran Chen and DHA Capital's Dan Hollander discuss how architecture and design will have to evolve to stem the spread of infectious http://ow.ly/CzvH50zZkmd highlights above and follow the link to watch the full webinar. http://ow.ly/cMLX50zZkmm
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.
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
Bill Rudin, REBNY chair and head of Rudin Management, discusses the great WFH experiment, property taxes and why a crisis is a terrible thing to waste. Watch the highlights from the latest interview below. Full interview: http://ow.ly/wUUA50zW2wO
Watch highlights from the latest edition of #TheInterview with Hana's CEO Andrew Kupiec and EVP of occupier solutions Georgia Collins. Full video: http://ow.ly/4Vui50zUagj
CDC's guidelines include temperature checks, desk spacing and single-serve coffee cups. Watch the video below to see what the guidelines entail and follow the link to read the full story. http://ow.ly/MQZ250zTJvT
After announcing that @facebook will move toward more working from home, Mark Zuckerberg has detailed why the plan will work in his company’s favor. “The biggest advantages I think are access to large pools of talent who don’t live around the big cities and aren’t willing to move there,” the CEO told Andrew Ross Sorkin during a segment of CNBC’s “Squawk Box” on Thursday. Watch the full interview below.
Stephen Ross predicts the coronavirus pandemic will result in a “flood of cases going to the bankruptcy court.” The chairman of Related Companies appeared on @CNBC’s “Squawk Box” Tuesday to discuss the impact of the virus, and said he’s especially concerned about the effect on retailers and small businesses. Watch the full interview below.
In the latest edition of #TRDTalksLive editor James Kleinman hosted David Goldstein, a vice chairman at Savills, CBRE research director Nicole LaRusso and Newmark Knight Frank tri-state president David Falk. The discussion focused on what the office market could look like in the wake of a pandemic that has seen great chunks of the office-going population working from home and many companies indicating their office needs might dramatically shrink. Watch highlights from the webinar below. Full webinar: http://ow.ly/yovp50zLFs7 Sponsored by: RXR Realty Newmark Knight Frank Savills CBRE
The Real Deal's first national issue is here! We've consolidated our best coverage across all of our markets this month to bring a robust national perspective that will help you stay ahead during the global pandemic and economic tailspin. In this special issue: ➡️We took a deep dive into distress, sizing up the cracks in each sector of the market ➡️Detailed what the national rent strikes movements mean for the real estate industry ➡️Broke down Blackstone's outsize influence and the investment giant's strategy in this crisis ➡️Spent more than an hour on Zoom with Starwood's Barry Sternlicht for the Closing to hear about his bullish bets on hotels …That and much more! So follow the link to subscribe and read! http://ow.ly/2enk50zKIjB
With all the talk of whether the coronavirus now makes New York less attractive compared to other cities, billionaire landlord Charles Cohen said operating in the Big Apple has always been a challenge. “It’s easier to do business outside of New York,” he said. “The cost of doing business is less. The cost of construction is less.” But he added, “The excitement is less. The pace is less.” Cohen, CEO of Cohen Brothers Realty Corporation and Cushman & Wakefield’s Bruce Mosler discussed #Covid-19’s impact on the real estate industry and in particular the office market for #TRDTalksLive. Watch highlights from the latest #TRDTalksLIve below and follow the link for the full webinar. http://ow.ly/cePP50zHCgR
Steve Roth channeled his inner Wordsworth, Marc Holliday went into Call of Duty mode and Rich Barton went to a galaxy far, far away. Welcome to the most unusual earnings call season, courtesy of the coronavirus. #TheRealDeal #RealEstateNews #SecondTake
"Dror Poleg, the author of “Rethinking Real Estate” and his business partner Antony Slumbers joined The Real Deal’s Hiten Samtani for a deep dive into the future of the office market. The conversation touched upon several of the biggest issues facing office landlords at the moment: how to account for a large chunk of the population opting to work from home even once this pandemic is past; how to value and finance office buildings in the face of less predictable cash flows; and how to market space in the age of social distancing. Watch the full interview below. For quicker navigation, here are some important time codes: 0:57 End of office as a boring asset 3:47: The future of work 15:10: Owner vs. operator 28:30 on Space as a service
Compass’ Aaron Kirman and Sally Forster Jones, and The Agency’s Santiago Arana say the pandemic has shifted but not devastated the residential market. Watch the highlights from the latest episode of #TRDTalksLive where these top LA deal makers talk about how they keep things positive. Full video: https://therealdeal.com/la/2020/05/12/for-top-la-resi-agents-its-strictly-posi-vibes/ Sponsored by: Viewpoint Collection #TheRealDeal #RealEstateNews
As WeWork makes headlines for rental woes, disputes with members and co-founder Adam Neumann’s SoftBank feud, Sandeep Mathrani sought to assuage concerns in his first TV appearance since becoming CEO. Watch the full interview below.
Real estate venture capitalist Brendan Wallace of fifthwallvc talks betting on green buildings and standardizing homebuying in the second part of #TheInterview with The Real Deal. Watch the full interview above.
The near-total shutdown of New York City shops and restaurants during the coronavirus crisis will likely be felt for years to come in the retail real estate world. In the short-term, landlords and tenants will have to come up with creative solutions to help commercial tenants back on their feet, according to some of the city’s top retail brokers who discussed the state of the market for the latest installment of #TRDTalksLive. Check out highlights from the conversation, which included TSCG and SCG Retail’s David Firestein, Meridian Retail Leasing’s James Famularo and Newmark Knight Frank Retail’s Jeffrey Roseman. Full video: http://ow.ly/v5tI50zB8Pn
We're proud to announce the TRD Health Care Heroes Initiative. This platform allows real estate professionals to show their appreciation for front-line workers at New York City hospitals and nursing homes by selecting a restaurant of their choice to serve a meal to a hospital. The restaurant will get 100% of the contribution and the health care facility will get 100% of the food. Follow the link for more details about the initiative. http://ow.ly/jWFr50zB7Cq For TRD readers who wish to help our effort, please contact Liana at [email protected]
Bess Freedman, CEO of Brown Harris Stevens discusses the brokerage office of the future — well beyond masks, gloves and hand sanitizer — in the latest installation of #TheInterview. Watch the highlights below and click the link for the full video: http://ow.ly/MXCz50zzXVx
Real estate professionals and tenant advocates agree that the federal government needs to provide more relief. But that’s where their common ground seems to end. During the latest TRD Talks Live panel Monday, reporter Georgia Kromrei spoke with New York State Senator Julia Salazar, Housing Justice for All’s Cea Weaver, Time Equities CEO Francis Greenburger and Belkin Burden Goldman attorney Sherwin Belkin. These representatives from both sides of the landlord-tenant divide sparred over a planned nationwide rent strike. Watch the highlights below. Full video: http://ow.ly/nUnL50zyQng Sponsored by: Vero Leasing
Brendan Wallace — managing partner of fifthwallvc, the largest real estate-focused VC fund — says that when it comes to retail post-Covid, “the relationship between landlord and tenant needs to change.” In an interview with The Real Deal's @hitensamty, Wallace talks about the need for a $30 billion retail bailout and more. Watch the highlights below. Full interview: http://ow.ly/ZKXg50zxVRl
Watch the highlights from #TRDTalksLive. TRD editor Erik Engquist spoke with Partnership for New York City's Kathryn Wylde, Industry City’s Andrew Kimball and Ladder Capital’s Alan Fishman about when the real estate industry will get back to work. Full video: http://ow.ly/SG5650zxOew
Real estate activity in the suburbs has spiked amid the #coronavirus pandemic. As city dwellers contend with shelter-in-place orders, many prospective buyers are now looking for homes with larger square footage and more open space. Watch the video above by ABC to see what the homebuyers and the industry experts are saying.
With all the carnage in the real estate job market that has happened and is expected to happen, many leaders have announced that they will slash their own salaries in solidarity. But for those at the top, the salary is just a piece — often a small piece — of total compensation, as The Real Deal‘s E.B. Solomont and Eddie Small found in a new analysis. They chatted with Hiten Samtani about the story and what it means when bosses take out their own wallets. #SecondTake #TheRealDeal #RealEstateNews
In the latest installation of #TRDQuarantineCribs, we’re visiting top Georgia broker and founder of Ansley Atlanta, Bonneau Ansley. Ansley, who banked over $175 million in deals lat year, is staying safe at his stylish Buckhead home, which features spiral staircases, a huge kitchen, and beautiful outdoor living spaces – all of which are shared with family and few pets (including Quarry, the quarantine guinea pig). Think your crib should be featured in our new series? Or know an industry veteran with an insane home? Send your pitch to Hannah Kramer at [email protected]. Ansley Atlanta Real Estate Bonneau Ansley, Realtor
When it comes to New York City's rent-stabilized housing stock, landlords and tenants are usually on opposite sides of the table. But there are signs that even landlords are open to the idea of one-year rent freezes for the city’s really 1 million rent-stabilized units. The Real Deal's Hiten Samtani caught up with senior reporter Kathryn Brenzel to discuss the latest at the Rent Guidelines Board and the potential implications for New Yorkers. Watch the full video: http://ow.ly/Ygmr50zw86F
Mortgage forbearance has made a lot of headlines in recent weeks. As many residential and commercial borrowers contend with financial issues stemming from the coronavirus crisis, lenders are allowing some to postpone mortgage payments. But how does it all work? Watch the video above for answers to some of the questions you've asked us. Let us know if you have other questions in the comments below, and we'll try to get to them in our next installation of #TRDFacts.
Miami condo market consultant and investor Peter Zalewski offered a dose of reality to viewers of The Real Deal’s webinar series. Watch highlights below and follow the link to watch the full video. http://ow.ly/QWGH50ztzam
Who isn’t longing for a meal at a favorite eatery? Restaurateurs Michael Stillman and Bill Bondrest joined hospitality consultant Steven Kamali and The Real Deal’s James Kleimann on Monday to discuss how food and beverage concepts are being altered by the pandemic and what the future of dining services could look like. Watch the highlights below. Click the link for full video: http://ow.ly/pHSD50zs85R
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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