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1 week ago | 
therealdeal.com | Sheridan Wall |Matthew Elo
New York City-based brokerages chalked last quarter’s earnings up to a win. Following two years of lackluster performance, Douglas Elliman, led by a new CEO, cut down significantly on its losses, grew its revenue and finished the period with a healthy cash store. Compass, fresh off the closing of a major acquisition, expanded its market share and logged a record free cash flow.
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2 weeks ago | 
therealdeal.com | Elizabeth Cryan |Matthew Elo
A giant LED billboard, along with several surrounding retail properties, landed the city’s largest loan in April, providing a $407 million cash infusion to Steven Roth’s real estate investment trust.
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3 weeks ago | 
therealdeal.com | Sheridan Wall |Matthew Elo
Secret deals at 80 Clarkson Street could be the difference between a steady new development market and a booming one. In Manhattan, buyers signed contracts for 145 new development units last month, which was on par with the previous April and a modest 3 percent below the decade-average for the month, according to Corcoran Sunshine’s monthly report.
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3 weeks ago | 
therealdeal.com | Elizabeth Cryan |Matthew Elo
A fully-renovated Park Slope townhouse traded this week for $7.9 million, another seven-figure sale for the well-to-do Brooklyn neighborhood. The seller was an entity tied to Dixon Advisory, an Australian property fund that bought up hundreds of one- to four-family homes in the greater New York area more than a decade ago. Now Dixon has been quietly unloading dozens of those properties after the publicly traded REIT collapsed in 2022.
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3 weeks ago | 
therealdeal.com | Elizabeth Cryan |Matthew Elo
Rialto Capital is coming after another Signature Bank borrower. Jeff Krasnoff’s firm filed a lawsuit in Manhattan Supreme Court seeking to foreclose on a loan tied to a Chinatown office building owned by the Gluck family’s Stellar Management and Michael Alvandi’s City Urban Realty. The landlord allegedly defaulted in June on a $21 million loan tied to 243 Canal Street, a six-story Class B office building.
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4 weeks ago | 
therealdeal.com | Sheridan Wall |Matthew Elo
Ryan Serhant says Compass is wagering on the “real estate model of yesterday.”The celebrity broker took aim at the residential giant at The Real Deal’s New York City Showcase + Forum on Wednesday. Joined on stage by other cast members of his Netflix reality TV show, “Owning Manhattan,” Serhant criticized the firm’s strategies, including an acquisition tear and a battle over private listings with platforms and the National Association of Realtors.
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1 month ago | 
therealdeal.com | Sheridan Wall |Matthew Elo
A once-abondoned armory in Fort Greene is turning into condos. Brooklyn-based developers Hesky and Samy Brahimy filed plans in April to convert the property at 167-171 Clermont Avenue, known as the Clermont Armory. The building currently houses 110 rental units and ground-floor commercial space. The Brahimys are partnering on the project with John Frezza of the Strategic Development and Construction Corporation.
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1 month ago | 
therealdeal.com | Jake Indursky |Matthew Elo |Joseph Jungermann
For architects, 2024 was a tale in two parts. They spent the first half stuck in the mud as developers waited for housing policy clarity and the second half in a welcome return to form. “In the second half, we started getting some movement — some market-rate housing, office conversions into housing and different things like that — as people started to learn about these new abatements and new affordability programs,” Aufgang principal Ariel Aufgang said.
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1 month ago | 
therealdeal.com | Elizabeth Cryan |Matthew Elo
For developers, 2025 appears to be a banner year as they look past federal policy uncertainty to the long-awaited good times. “New York City is very much on the rebound,” Two Trees’ Jed Walentas said. The state passed a revamped version of its affordable housing policy. The Federal Reserve began cutting interest rates slightly. A real estate guy was elected president. The City Council adopted City of Yes.
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1 month ago | 
therealdeal.com | Suzannah Cavanaugh |Matthew Elo |Joseph Jungermann
Tariffs have dominated the headlines and terrified Wall Street, but the city’s biggest general contractors insist they’re not feeling the pain. “I haven’t paid a tariff yet,” boasted Bernard Ruf, president of Broadway Builders, which ranked 12th in TRD’s annual count of the city’s top construction firms. It has 1.5 million square feet under development. “Right now, it’s still just a discussion,” echoed Eli Weiss of Joy Construction, which took 10th place with over 1.8 million square feet.
