The Real Deal

The Real Deal is often referred to as the essential guide to New York City's real estate sector, making it a must-read for professionals in the field. Since its launch in 2003, TRD has delivered timely industry updates, detailed reports, and insightful profiles through its monthly magazine, which boasts a circulation of 60,000. Additionally, TheRealDeal.com attracts over 1 million unique visitors each month. Our content is accessible on various platforms, including a mobile app compatible with iPhone, iPad, and Android devices. The Real Deal's commitment to quality journalism has earned it numerous accolades, including the Society of American Business Editors and Writers' award for general excellence in 2013. It has also received several honors from the National Association of Real Estate Editors, such as "Best Commercial Trade Magazine," "Best Residential Trade Magazine," and "Best Website Dedicated to Residential, Commercial, or Financial Real Estate and Home Design."

Local, Trade/B2B

English

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#49115

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#10333

Business and Consumer Services/Real Estate

#112

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Articles

Microsoft-linked buyer is assembling a $350M Palm Beach portfolio

2 days ago | therealdeal.com | Kate Hinsche

A buyer linked to Microsoft is assembling a sprawling portfolio of Palm Beach properties, in a series of deals that will likely total more than $350 million, sources told The Real Deal. Billionaire Charles Simonyi, the early Microsoft employee credited with creating Word and Excel, is likely the buyer, sources confirmed to TRD. The Wall Street Journal first reported that Simonyi is one of the rumored buyers, as well as former Microsoft CEO Steve Ballmer or co-founder Bill Gates.
Former Vornado exec charged with embezzling millions from REIT

2 days ago | therealdeal.com | Rich Bockmann

A former vice president in Vornado Realty Trust’s vaunted leasing office has been charged with stealing millions of dollars from the company, one of New York’s biggest commercial landlords. Jared Solomon was indicted by prosecutors from the U.S. Southern District’s office in December on one count each of wire fraud and aggravated identity theft, court records show. According to the indictment, the VP devised a scheme to defraud an unidentified “Victim Company 1” between 2009 and 2023.
Lennar Proposes 106 Townhouses Near Homestead

2 days ago | therealdeal.com | Lidia Dinkova

Lennar wants to develop 106 townhouses near Homestead, as the homebuilding giant continues its development spree in south Miami-Dade County. The Miami-based firm, led by Stuart Miller and Jon Jaffe, proposes the Retro West complex with 11 workforce units on a 10-acre vacant site on the northwest corner of Southwest 338th Street and Southwest 192nd Avenue in unincorporated Miami-Dade. One of the three adjacent lots is at 33700 Southwest 192nd Avenue.
Beating the heat: Palm Beach County weekly condo sales surge to $239M

2 days ago | therealdeal.com | Kate Hinsche |Adam Farence

It was a busy week for brokers in Palm Beach County’s condo market, with sales and dollar volume soaring. All but one of the top 10 closings this week were units at Alina Residences in Boca Raton. Brokers closed 155 condo sales totaling $239 million from June 14 to June 22. The previous week, brokers closed 92 condo sales totaling $55 million. Last week’s units sold for an average of $1,542,036, higher than the $598,087 average price from the previous week.
Catsimatidis leases entire office space at downtown St. Pete project to financial services firm

3 days ago | therealdeal.com | Lidia Dinkova

Billionaire developer John Catsimatidis Sr. fully leased the office space at his downtown St. Petersburg mixed-use project to a financial services firm. Dynasty Financial Partners signed for the entire 45,000 square feet of space at the 400 Central tower, with plans to open the office next year, according to the developer’s news release.
South Florida Residential Sales Dive in May 2025

3 days ago | therealdeal.com | Kate Hinsche

South Florida’s residential sales and dollar volume plunged in May, continuing a monthslong market slowdown. Dollar volume for Miami-Dade, Broward and Palm Beach counties dipped to $5.6 billion, down from $6.1 billion in May of last year, according to Multiple Listing Service data collected by the Miami Association of Realtors. Miami-Dade County’s single-family homes were the only category to show price growth, with median prices falling or flatlining elsewhere.
Joe Tsai’s BSE Global plans youth basketball facility at vacant Pacific Park site

3 days ago | therealdeal.com | Elizabeth Cryan

A former Modell’s once slated to become office towers as part of the troubled Pacific Park megadevelopment will open this fall as a youth basketball training facility. Alibaba co-founder and Brooklyn Nets owner Joe Tsai’s BSE Global will operate the 18,600-square-foot multi-court facility at 140 Flatbush Avenue, according to a press release. BSE is the holding company for the Brooklyn Nets, Barclays Center and the New York Liberty.
$13M Palm Beach Listing Tops County’s Signed Contracts

3 days ago | therealdeal.com | Kate Hinsche

Palm Beach County saw an uptick in signed contracts for luxury homes last week. Buyers signed 12 contracts between June 16 and June 22 for luxury properties in Palm Beach County, according to a market report authored by Douglas Elliman’s Eklund-Gomes team. Last week’s contracts reached $73.6 million in asking volume, and averaged 89 days on market. That’s up from nine signed contracts totaling $51.4 million in asking volume the previous week.
Aventura condo association ex-prez Gregori Arzumanov hit with federal charges

3 days ago | therealdeal.com | Francisco Alvarado

Former condo association president Gregori Arzumanov, who is already facing a state racketeering indictment, was hit with federal charges for allegedly stealing more than $700,000 in building funds. On June 6, a Miami federal grand jury indicted Arzumanov and a second defendant whose identity is redacted, for wire fraud and conspiracy to commit wire fraud, according to court records.
$15M Apogee Closing Tops Miami-Dade Weekly Condo Sales

3 days ago | therealdeal.com | Kate Hinsche |Adam Farence

Miami-Dade County’s condo sales and dollar volume surged in the third week of June, bucking the market’s traditionally slower summer pace. Brokers closed 135 condo sales totaling $122 million from June 13 to June 21. The previous week, brokers closed 89 condo sales totaling $67.7 million. Last week’s units sold for an average of $903,964, higher than the $760,808 average price from the previous week. The average price per square foot rose to $580 from $547, according to data from Redfin.