The Real Deal Magazine – Featured Articles

The Real Deal Magazine provides the latest news and commentary on the real estate market in New York City and beyond, focusing on both commercial and residential real estate.

DOTTIE TAKES MANHATTAN

The Woman Behind The Recent Blockbuster Douglas Elliman Deal

By Craig McGuire

During the first few months of this year, with war in the air, economic recovery threatened, and the short term fate of the real estate market in question, many of Dorothy “Dottie” Herman’s financial backers advised her to back away from the negotiating table. For the last six months, the chief executive of Prudential Long Island Realty had been positioning to buy Insignia Financial Group Inc.’s Douglas Elliman, the 92-year-old New York real estate company with 850 sales associates, nine Manhattan offices, and three LI offices … (Click Here to Read More)

 

DEAL JUNKIE – The Corcoran Group’s Pamela Liebman is Standing Tall

By Craig McGuire

In late 1999, on an airplane somewhere over middle America rushing back to New York City following a business trip, Barbara Corcoran, the high-profile doyenne of Gotham real estate, turned to Pamela Liebman, her protégé and longtime friend, and said, “I think it’s time. Are you ready for this?” … (Click Here to Read More)

 

‘CNN Effect’ Affecting Real Estate, Industry Vets Say

By Craig McGuire

From anxiety over the War in Iraq, to concerns with the U.S. economy’s slow growth, to unseasonably high amounts of rainfall, a combination of factors has stifled traffic at open houses in the New York market this year. But, whereas the industry has faced multiple negative trends in the past, some industry professionals think the effect is worse today, simply because … (Click Here to Read More)

 

Downtown Manhattan Vacancy Rates Fall, Survey Says

By Craig McGuire

NEW YORK — There was a significant drop in the Downtown Manhattan vacancy rate in March, as more space was leased than was added to the market in Lower Manhattan during that month.      However, while occupancy increased, average asking rental rates declined slightly. That is according to a first-quarter report recently released by … (Click Here to Read More)

 

Deals … Jack Parker Lands Biltmore Project

By Craig McGuire

NEW YORK — The Jack Parker Corp. was recently retained as the developer, builder and manager of The Biltmore, the luxury, mixeduse residential tower located on 47th Street at Eighth Avenue. The project is a joint venture between The Moinian Group and Jack Parker Corp.  “With breathtaking city views, an elegant lobby and the finest service and amenities we are confident that The Biltmore will be a much sought after residence … (Click Here to Read More)

 

Good Schools Make Good Real Estate

Buyers Willing to Shell Out Uptown Prices to be in the Right Zone

By Craig McGuire

While low supply and demand for residential properties in New York City continues to support relatively high prices, the quality of an area’s schools can significantly impact your client’s deal. “Some families view particular school districts as better than others … (Click Here to Read More)

 

Luxury Market Sluggish, But Should Improve, Insiders Expect

By Craig McGuire

NEW YORK CITY — The usually booming market for ultra-luxury residential properties in Manhattan has stumbled as of late under the weight of war anxiety and economic uncertainty. However, eyeing on the horizon what could be a relatively quick extrication from the conflict in Iraq, some real estate experts expect significant high-end growth ahead. … (Click Here to Read More)

 

National Market Review

By Craig McGuire

The Atlanta Regional Commission and the Georgia Regional Transportation Authority are reviewing plans filed by the city for the 41-story Symphony Center, Atlanta’s newest high-rise office and cultural venture. The 650-foot tall tower would be the largest office structure built in Atlanta since 1992 … (Click Here to Read More)

 

Eckerd Enters NYC, Inking 10-Year Lease for World Financial Center Digs

By Craig McGuire

NEW YORK – Eckerd Drugs recently signed a 10-year lease with Brookfield Properties Corp. for 9,000 square feet of prime street-level retail space in Four World Financial Center. The deal for the downtown space marks the national retail drug chain’s first foray into New York City … (Click Here to Read More)

 

NY Law School Promotes Dispute Resolution Through Mediation

By Craig McGuire

A new community service program launched by New York Law School is encouraging New York City co-op and condo owners, residents, employees, managing agents, and attorneys to resolve their disputes through mediation, rather than costly litigation. Dubbed the Co-op Mediation Project, the program addresses the increasing number of disputes among co-op and condo residents … (Click Here to Read More)

 

NY Office Space A ‘Bargain’, Survey

By Craig McGuire

NEW YORK – Compared to commercial real estate in other major cities that serve as international centers of commerce, namely London, Tokyo, and Paris, office space in New York can be had at a relative bargain. That is according to this year’s edition of Business Space Across the World, a survey produced by Cushman & Wakefield, the global real estate services firm … (Click Here to Read More)

 

The Value of Encouraging 3rd-Paty Home Inspections

By Craig McGuire

NEW YORK – Though realtors are hired for their aptitude at marketing properties, and not necessarily as experts in residential construction, advocating the use of third-party home inspections can go a long way toward ensuring post-sale customer satisfaction … (Click Here to Read More)

 

Job Prospects Grim In Real Estate Sector, New Survey Says

By Craig McGuire

NEW YORK—Real estate recruitment professionals reported a grim employment picture in the first-ever quarterly real estate career forecast issued today by SelectLeaders, an Equinox Partners company based in New York … (Click Here to Read More)

 

Hip-hop Mogul Russell Simmons Goes Mall Shopping

By Craig McGuire

NEW YORK – Hip-hop impresario Russell Simmons, producer and founder of a record label and a clothing line, is adding another title to his crowded business card: mall owner. The 45-year-old celebrity has teamed up with Thor Equities, a New York-based developer of urban retail, residential and commercial projects, to buy … (Click Here to Read More)

 

HELP WANTED: ‘The Donald’s’ Lackey?

By Craig McGuire

Donald Trump recently leapt upon the reality TV bandwagon with the upcoming debut of “The Apprentice.” The show, the brainchild of “Survivor” producer Mark Burnett and slated to run on NBC later this year, will involve 20 ‘lucky’ contestants who will go to work for Trump’s New York organization. Once there, Trump and his executives will dish out tasks. Those who fail can expect plenty of verbal abuse, with one unfortunate player issued a pink slip each week … (Click Here to Read More)

 

Architect Leyva Movin’ On Up, To The East Side

By Craig McGuire

New York — Downtown moves uptown in a new luxury rental building at First Avenue and 89th Street.      The 32-story building at 389 East 89th Street was designed by renowned architect Ismael Leyva, and is one of the first uptown buildings to incorporate conventional rental unit design with open space loft living … (Click Here to Read More)

 

What To Do in a Down Market

By Craig McGuire

NEW YORK – Though many of their clients may be sitting on the fence,  real estate brokers need not sit on their hands. Several seasoned real estate professionals provided The Real Deal with invaluable advice on what brokers should be doing today. Elizabeth Stribling, president of Stribling & Associates, Ltd., a New York-based realty company, said she urges her brokers to … (Click Here to Read More)

 

 

Photo Credit: Anders Jilden (Courtesy of Unsplash.com)