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  • Number games: How developers inflate the height of their penthouses February 19, 2019
    Donald Trump’s penthouse takes up the 66th through 68th floors in a tower that only has 58. The math-defying logic of Trump Tower garnered attention just before he became president, and while he may have had a hand in popularizing the practice, he’s not alone in inflating the height of his building. Having two sets […]
  • The godfather of the modern  commercial brokerage February 18, 2019
    Agents with specialties. Electronic databases that track tenants. Shiny shoes and suspenders. In ways both substantive and superficial, the Edward S. Gordon Company, a firm that came to prominence in New York in the 1980s, was instrumental in creating the modern-day commercial-brokerage business. A clear line can be drawn from that legacy to the firm’s […]
  • Thanks to oversupply and a slew of regional issues, Dubai is experiencing a big drop in property prices February 18, 2019
    Once the hottest housing market in the world, Dubai is experiencing a fall from grace. Property prices in the Emirati capital have dropped more than 25 percent since their peak in 2015, according to a new JLL report cited by the Wall Street Journal. Low oil prices, political turmoil and weaker currencies across the Middle […]
  • When the glass ceiling won’t break February 18, 2019
    If ever there was a time to talk about sex and gender issues in New York City real estate, it’s now. The topics were thrust onto the national stage in October when news broke that Hollywood boss Harvey Weinstein had allegedly sexually harassed and abused dozens of women for decades, using his power in the […]
  • Luxury brand-name residences are growing in popularity — and commanding a premium February 18, 2019
    If you brand it, they will come. That’s the lesson luxury residential developers are learning as more and more buyers are purchasing properties in high-end branded towers. More than 400 properties are stamped with luxury brand names across the world, and 110 more of these developments will open by 2023, according to Alexandros Moulas, a […]
  • Behind real estate’s red tape nightmare February 18, 2019
    UPDATED, March 2, 5:17 p.m.: It was the spring of 2015, and New York City developers were madly rushing to get their residential projects approved before the popular 421a tax abatement program expired. But in the midst of the frenzy, the city’s development world hit an unexpected snag: A government employee went on vacation. While […]
  • As rent and tax reforms sweep US, real estate industry braces for fight with progressive lawmakers February 18, 2019
    After making significant gains in the midterms elections, Democratic lawmakers now have their sights set on curbing big real estate players. Bills are being introduced in states like New York, Illinois and California to strengthen rent controls and change tax laws, according the Wall Street Journal. In New York, where the real estate lobby holds […]
  • Dissecting the real estate legacy of the-once-powerful-but-now-disgraced Sheldon Silver February 18, 2019
    Sheldon Silver may have had just one vote, but a “no” from him carried more weight than any other politician in the state legislature. For developers, it could be the kiss of death. The former state Assembly speaker — who was recently convicted on federal corruption charges involving $4 million in kickbacks — was one […]
  • Long Island Cheat Sheet: Amazon’s LIC withdrawal causes development concerns, Central Islip rental project secures $65M in financing… & more February 18, 2019
    Amazon pullout could hurt Long Island development Economic officials on Long Island are worried that Amazon’s surprise decision to not build its second headquarters in Long Island City, Queens, will have a chilling effect on out-of-state businesses pursuing new development in the region, Newsday reported. “Some people will equate Long Island with having made this […]
  • Deal fit for a president? Illinois farmland once owned by Abraham Lincoln sells at auction February 18, 2019
    A 30-acre plot of Central Illinois farmland once owned by Abraham Lincoln was sold at auction on the former president’s birthday. Retired farmer Ron Best and his family sold the land for $300,000, or $10,000 an acre, according to the Journal-Gazette and Times-Courier. The plot was part of an 590-acre parcel that sold for a […]