08/28/08

May 2008
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New terrain forces brokers to adjust

As the national housing slowdown pervades even New York City — a previously unthinkable prospect — brokers are scrambling for tips on how to make the best of the downturn...
By James Kelly

Heading back to school

This month, The Real Deal has decided to lift the curtain and take a look at the health of real estate education. It turns out that the scope of programs is as varied as the industry.
By Dorn Townsend

Macklowe tower rises under radar

As the real estate world waits to see if Harry Macklowe can save his real estate empire, a smaller contingent is anxiously watching to see if he can pull off a minor miracle by completing his speculative office tower at 510 Madison Avenue.
By David Jones

Cap rates tipping up

The credit crunch and economic slowdown are significantly lowering purchase prices for Manhattan office properties, while rents have so far stayed mostly flat.
By Catherine Curan

Staying on top of their game in a slower market

This month, for The Real Deal's Q&A, brokers shared their concerns about the changing market and their strategies for dealing with everything from the slowdown in sales activity to the doom-and-gloom media reports.
By Melissa Dehncke-McGill

Banks search for defaults

Big banks are increasingly cracking down on developers for being out of compliance with the terms of their construction loans.
By David Jones

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Manhattan's biggest firms

Despite a slight drop in its broker ranks, Prudential Douglas Elliman reigns supreme as Manhattan's biggest residential brokerage. But the Corcoran Group, the second-biggest firm in terms of the number of agents, inched out the archrival this year in exclusive sales listings.
By Lauren Elkies
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The Closing: Jeffrey Levine

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Chairman and principal of three affiliated companies: Levine Builders, Douglaston Development and Clinton Management. Levine has overseen the new construction or rehabilitation of thousands of rental and condo properties.

Financial District boom slows

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Over the past five years, Lower Manhattan has become one of the city's fastest-growing residential areas. But some observers say that the boom has peaked and that the area might be due for a Wall Street-influenced bear market.
By David Jones

William Levitt: The king of suburbia

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William Levitt's legacy goes beyond any one office or apartment building. The developer's single-handed creation of Levittown, Long Island, right after World War II laid the groundwork for modern-day suburbia and spawned thousands of copycat communities nationwide.
By Matt Schneiderman

Dirt cheapens at building sites

Land is often the crux of a great development deal, but in New York City, where developable land is scarce, it often comes with an expensive price tag. Now, some developers say they are seeing signs of change.
By Alison Gregor

Bookstores move to the basements

Soaring rents and competition from online retailers such as Amazon.com are pressuring Barnes & Noble (with nine Manhattan stores) and Borders (with five Manhattan stores) to carve out a more affordable real estate model that includes multi-level stores and basement locations. By Barbara Thau

Top townhouse broker speaks

Chalk up another monster sale for Del Nunzio, the top-grossing townhouse broker in the city. The petite, Vassar-educated former ad exec with the clipped English and prim manner knows a thing or two about marketing homes to New York's mega-rich.
By Adam Piore

Stuck under a cloud

A grey cloud hovers over the Manhattan real estate market as buyers and sellers wait to see how the market adjusts to last summer's credit crisis, how deep the Wall Street job cuts will actually be and how much the housing market will be affected.
By Lauren Elkies

Hotels prepare, just inn case

New York's red-hot hotel industry is beginning to fear a slowdown. Though most business metrics are positive, rising inventory and fear of a recession are beginning to push many hoteliers to develop plans for a weaker environment.
By Catherine Curan

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