Biggest NYC Brokerages

Which resi brokerage rules which Manhattan neighborhood? Corcoran wins the UWS, but Elliman dominates elsewhere

New York brokers love to win, and only the most talented and dedicated hustlers thrive.

The firms that employ them are no different, fighting borough-by-borough, neighborhood-by-neighborhood, building-by-building and unit-by-unit in hopes of locking down as many of the listings as possible, and crushing their competition.

The Real Deal compared top brokerages citywide in its May issue, but those results tell only part of story.

To get the view from the trenches, TRD drove into active sales listing data both resales and new development from On-Line Residential to determine which brokerages were winning which Manhattan neighborhoods.

Douglas Elliman, by far the city’s largest brokerage with over 2上海千花网论坛 上海千花网,000 agents in Manhattan, fully topped the charts in six of the seven neighborhoods TRD analyzed (those with the largest number of total sales listings).

It dominated some – for example Tribeca, where it had a striking 42 percent market share – but just squeaked by in others, such as the Upper East Side, where it beat rival Corcoran Group / Corcoran Sunshine by just five listings of a total 1,150, or about 0.3 percent of the submarket.

The two Corcoran firms, with a combined 1,100 agents in Manhattan had a strong showing on the Upper West Side – the second largest neighborhood by listings, with 601 – where it had a solid 24 percent market share on 146 total listings, compared to a 17 percent share on 103 listings for Elliman.

Elsewhere though, the Corcoran brokerages were mostly forced to settle for second place. Only in Hell’s Kitchen did a third firm break into the top two slots. River 2 River Realty, which is based in the neighborhood, had 47 listings, or 19 percent of the submarket.

Still, the firm put up a stiff challenge to Elliman overall, considering its far lower agent count. Corcoran – which does more new development business than its rival, and also has a stronger presence in Brooklyn – also performed better in neighborhoods with more total listings, while Elliman dominate爱上海同城手机版 新爱上海同城对对碰论坛d less active areas.

The competition for third place highlighted a more diverse set of players, with seven different firms appearing in each of The Seven Third Place slots. Brown Harris Stevens and Halstead Property showed in the largest two neighborhoods by listings, the Upper East and Upper West Sides, with market shares of 12 percent and 10 percent, respectively.

Some caveats: OLR data has holes, so while roughly accurate, it isn t 新上海贵族宝贝论坛 上海贵族宝贝交流区a perfect representation of listing activity. In addition, the results are based on a one-day snapshot of active listings taken on March 27, as was TRD’s citywide analysis. That means units listed since that date and units that were上海夜网 阿爱上海同城 in contract or recently sold as of that date were not included.

Tags: brown harris s爱上海同城论坛 爱上海同城tevens, Corcoran Group, Corcoran Sunshine, Douglas Elliman, Halstead Property, river 2 river rea[……]

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Kuafu Properties

Kuafu principals split up Chinese PE-backed firm made some of the biggest development site purchases this cycle

From left: Shang Dai, 143 East 60th Street and Zengliang “Denis” Shan

The principals at Kuafu Properties, the Chinese private equity-backed development firm that rapidly became one of Manhattan’s most aggressive property buyers, are going their separate ways, sources told The Real Deal.

Zengliang “Denis” Shan, the former architect who was the conduit to the Chinese capital that bankrolled the company’s $750 million-plus buying spree, is leaving Kuafu to start h上海贵族宝贝交流区 上海贵族宝贝论坛is own venture. Shan s new company will include the $300 million development site at the former Subway Inn assemblage across the street from Bloomingdale’s on the Upper East Side.

Kuafu bought the site at 143-161 East 60th Street last October for more than $1,000 per square foot, with plans to build a 1,240-foot supertall condo tower. As the high-end condo market has suffered from a glut of oversupply, however, the developer said earlier this year the plan is to sit on the project and wait for the next real estate cycle.

Shang Dai, who started his career in the U.S. as an attorney doing real estate deals in Flushing, will stay on to lead Kuafu, which will retain the remaining $456 million worth of development sites the company bought.

In a statem爱上海龙凤419桑拿 上海龙凤论坛sh1fent to TRD, representatives for Kuafu said the split was amicable and the plan ““all along was上海千花网论坛 上海千花网 for Shang and Denis to work together to start a U.S. real estate firm, with Denis ultimately spinning off to form his own platform.”

“Kuafu had the good fortune to grow very quickly, especially in the past year,” the company added. “With Kuafu firmly established and having several projects underway, Denis is able to form a new entity, which will develop the 60th Street project.  It is a project he finds very exciting and deserving of his undivided attention, for the foreseeable future.”

The two principals remain friends and their companies are “forces to be reckoned with in the New York real estate market” and plan to work together in the future, Kuafu said.

As the cash-flush firm jumped onto the scene in late 2013, it staffed its Times Square office with a team of employees poached from around the industry.

They include head of development Jeffrey Dvorett, formerly of Extell Development, chief investment officer Stephen Muller, formerly an investment banker at Greenwich Group International, and head of acquisitions Chris上海贵族宝贝交流区 上海贵族宝贝论坛topher Sameth, formerly a principal at Investcorp.

It’s not clear which executives will break off with Shan.

Kuafu’s development pipeline includes the condo-conversion of the top 13 floors of 1 MiMA Tower at 460 West 42nd Street, which has a planned sellout of $414 million, as well as an assemblage at 86th Street and Lexington Avenue that the developer acquired in partnership with Ceruzzi Properties and Stillman Development for $134 million.

The partners filed plans to build an 18-story, 63-unit condo[……]

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TRD Showcase Forum Miami

WATCH: Top brokers discuss navigating Miami s resi slowdown Brokerages are marketing more toward domestic buyers and ramping up research

When it comes to selling Miami, nobody does it better than the brokers who make their livings off the city s real estate market. That s why The Real Deal assembled five residential heavy hitters to explain how they re contending with the market slowdown, and analyze where Miami s housing market is headed in the near future.

Panelists included Mark Zilbert of Brown Harris Stevens | Zilbert, Craig Studnicky of ISG, Mayi de la Vega of One Sotheby s International上海夜网 阿爱上海同城 Realty, Andres Asion of Miami Real Estate Group, and Jay Parker of Douglas Elliman.

One of the maj上海龙凤论坛sh1f 上海龙凤论坛or takeaways was that these top brokers are now shifting their focus to domestic buyers, as demand from foreign nationals has waned in the past year due to a strong U.S. dollar and uncertainty in financial 爱上海同城 爱上海markets abroad.

“We have turned more to the domestic market,” de la Vega said. “This week alone, we’ve been meeting with our partners in Dallas, Chicago, New York and Washington.”

Buyers are becoming more choosy as well, putting the onus on realtors to do their homework and find deals their clients would still be interested in. Check out a full breakdown of the discussion here.

The panel, dubbed上海龙凤论坛sh1f 上海龙凤论坛 上海千花网论坛 上海千花网Post peak planning: Analyzing the future of South Florida’s residential market, was one of five hosted by TRD at its largest-ever South Florida Showcase Forum on Oct. 20 at Wynwood s Soho Studios. More than 4,500 brokers, developers and taste makers came to network and check out South Florida s latest projects.

Tags: NYC Luxury Market, Residential Real Estate, The Real Deal South Florida Showcase Forum
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Brooklyn Tenant Harassment

BK landlords Joel, Amrom Israel reach plea deal over tenant harassment They used pitbulls and sledgehammers to intimidate tenants

From left: Amrom and Joel Israel

Brooklyn slumlords Joel and Amrom Israel agreed to pay $350,000 to rent-stabilized tenants they harassed with pitbulls and forced to live without toilets or kitchen sinks.

By agreeing to the plea deal, which also carries five years of probation, the 上海千花网 爱上海同城对对碰brothers avoid up to four years in prison provided they pay up within six months. They confessed in Brooklyn Supreme Court to intimidating tenants at several Brooklyn rental properties, including 98 Linden Street in Bushwick, 300 Nassau Avenue in Greenpoint and 15 Humboldt Street in Williamsburg.

The Israel’s, who were indicted in 2015, paid people to intimidate the tenants with pitbulls and sledgehammers, and got others to throw parties in hallways. At 98 Linden Street, tenants in two apartments had to live without kitchens or bathrooms for 17 months when the landlords 爱上海同城论坛 爱上海同城ripped out appliances and didn’t replace th上海贵族宝贝论坛 上海贵族宝贝em.

The settlement payment of $250,000 will go straight to 10 tenants, and another $100,000 will go to the Tenant Protection Unit to help the tenants with further claims.

We were living with rats and cats in my kitchen. Street cats would come inside, one tenant told DNAinfo.

The Israels have chosen to put this matter behind them 爱上海龙凤419桑拿 上海龙凤论坛sh1fand are cooperating fully to ensure that the rights of their tenants are protected,” the Israels’ attorneys Kevin Keating and John Carman said in a stat新爱上海同城对对碰论坛 上海同城对对碰交友社区ement. [DNAinfo] Konrad Putzier

Tags: Rent Regulations
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ICSC Parties

The ICSC 2017 party guide: INTERACTIVE Check out TRD’s map for a look at RECon shindigs around Sin City

The world s largest retail conference, the International Council of Shopping Center s RECon, starts tomorrow. But New York City s real estate players have already landed in Las Vegas, and the next four days will test the schmoozing limits of even the hardiest retail broker. With more than 50 events spread across the Las Vegas Strip, how does a retail pro go about covering the maximum (and most lucrative) ground?

To make sense of it all, The Real Deal sat down with top RECon veterans to get the inside scoop on the parties, cocktail hours and events. We created an interactive guide to the extravaganza so you don’t have to. Keep in mind that these parties are invitation-only, so start the horse-trading early.

If you’re here Saturday afternoon, you could stop by the European pool at the Wynn, where New York retail royalty such as Jeff Winick help get things started. That night, festivities continue with Eastern Consolidated’s bash at Tao Nightclub at the Venetian Hotel.

Those with gas still left in the tank head to the superclubs such as XS, where mega-DJ David Guetta is spinning Saturday night and Diplo will hold court Sunday night. Another popular spot is the Hakkasan Nightclub, where everyone’s favorite Canadian Drake is performing Sunday night.

May 20, Saturday3131 S Las Vegas BoulevardWinick Realty Group at European Pool, Cabana at The Wynn1 p.m. to 4 p.m.
May 20, Saturday3131 S Las Vegas BoulevardFirst American at Poolside cabanas at the Wynn Las Vegas1 p.m. to 5 p.m.
May 20, Saturday3730 S Las Vegas BoulevardAnnaly Capital Management at Liquid Pool at Aria12 p.m. to 上海千花网论坛 上海千花网5 p.m.
May 20, Saturday3131 S Las Vegas BoulevardVornado Realty Trust at Eastside Lounge at the Encore Hotel5 p.m. to 8 p.m.
May 20, Saturday3355 S Las Vegas Boulevar阿爱上海同城 阿拉爱上海同城dEastern Consolidated at Tao Nightclub in the Venetian Hotel 6 p.m. to 9 p.m.
May 21, Sunday3730 S Las Vegas BoulevardAnnaly Capital Management at Liquid Pool at Aria1 p.m. to 5 p.m.
May 21, Sunday3600 S Las Vegas Boulevard Investors Bank at Lily Bar Lounge in the Bellagio hotel10 p.m. to 12am
May 21, Sunday3131 S Las Vegas BoulevardWinick Realty Group at Poolside cabanas at the Wynn Las Vegas12 p.m. to 5 p.m.
May 21, Sunday3131 S Las Vegas BoulevardFirst American at Poolside cabanas at the Wynn Las Vegas12 p.m. to 5 p.m.
May 21, Sunday3131 S Las Vegas BoulevardAshkenazy Acquisition and Polsinelli at Wynn Hotel, Cabanas12 p.m. to 5 p.m.
May 21, Sunday3570 S Las Vegas BoulevardRelated Companies at Nobu Villa in Caesars Palace5:30 p.m. to 8:30 p.m.
May 21, Sunday3600 S Las Vegas Boulevard Brown Rudnick at Monet Ballroom in the Bellagio Hotel6 p.m. to 8 p.m.
上海千花网交友 上海千花网论坛May 21, Sunday3131 S Las Vegas BoulevardHFF at The Encore – Brahms Ballroom6 p.m. to 9 p.m.
May 21, Sunday3131 S Las Vegas BoulevardNYPEN Real Estate at Wynn Pool – The Cabana Bar Lounge6 p.m. to 9 p.m.
May 21, Sunday3960 S Las Vegas BoulevardSho[……]

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Brookland Capital

Azorim no longer in talks to buy
Brookland stake One of Israel’s largest developers was mulling a 25.5 percent stake in Brookland’s parent company

上海贵族宝贝交流区 上海贵族宝贝论坛Boaz Gilad

Azorim, one of Israel s largest real estate developers, is no longer in talks to buy a 25.5 percent stake in the parent company of Boaz Gilad s Brookland Capital, the most prolific builder in Brooklyn.

Filings with the Tel Aviv Stock Exchange show Brookland Capital notified bondholders of the collapse in negotiations on Monday afternoon.

The news comes just a上海千花网龙凤论坛 上海千花社区 month after Gilad bought out his partner, Assaf Fitoussi, in Brookland Capital, giving Gilad 51 percent control of parent company Brookland Upreal. The other 49 percent is split between investors David Goldberger and Eyal Yagev.

Shortly after Fitoussi s exit, Israeli publication Globes reported that Azorim was interested in taking a significant stake in Brookland Upreal, but according to Brookland s Monday filin爱上海同城 爱上海g, In light of the lack of ability to reach commercial agreements with the partners of [Brookland] Capital, Azorim and Capital decided to stop the negotiation. According to the terms of the discussions, Azorim would have jointly controlled a 51 percent stake in Brookland Upreal had the deal gone through.

We couldn t come to terms with the business conditions to the deal, Gilad told The Real D爱上海龙凤419桑拿 上海龙凤论坛sh1feal. And we part as friends.

Brookland Capital is the most prolific builder in Brooklyn over the past five years, especially by number of projects. Since 2012, it has begun development on or completed more than 50 buildings, specializing in small condominiums上海龙凤论坛sh1f 上海龙凤论坛. The company brought in more than $66 million from condo revenue last year, according to bond filings.

Canadian billionaire Hershey Friedman became the majority shareholder of Azorim in 2011, after buying out developer Shaya Boymelgreen. In 2015, Azorim canceled the construction of a Trump-branded tower near Tel Aviv.

(To view properties owned by Brookland Capital, click here)

Tags: Brookland Capital, Commercial Real Estate, Tel Aviv Stock Exchange
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256 West 38th Street

New York REIT nears $155M deal to sell上海龙凤论坛sh1f 上海龙凤论坛 Garment District buildings Brickman is close to en爱上海同城对对碰 爱上海同城论坛tering contract for half of four-building portfolio
We 上海夜网论坛 上海夜网are having some technical diff上海夜网 阿爱上海同城iculties. Try again la上海贵族宝贝交流区 上海贵族宝贝论坛ter.

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Onyx Equities

Onyx Equities buying $60M leasehold on ex-TCI College cam上海千花网龙凤论坛 上海千花社区pus N阿拉爱上海同城 爱上海龙凤419桑拿J investment firm planning an office conversion at 320 West 31st St.

320 West 31st Street and Onyx s John Saraceno

Onyx Equities is in contract to pick up the leasehold on the now-defunct TCI College of Technology’s longtime Chelsea home for about $60 million, The Real Deal has learned.

The New Jersey-based investment firm, led by John Saraceno and Jonathan Schultz, is爱上海 爱上海同城手机版 planning an office conversion of the vacant four-story, 116,000-square-foot building at 320 West 31st Street, sources said.

After more than a century in operation, the for-profit technical college closed its doors on Sept. 1, citing economic reasons. TCI had net-leased the property since 1997, according to a U.S. Securities and Exchange Commission filing.

Andrew Edelman’s Charand Real Estate Associates, which controls the entity Overtime Properties LLC, has owned it since the 1980s, property records show. The building is located between Eighth and Ninth avenues.

If the deal closes, the price per square foot would come out to about $517.

It was not clear if Onyx plans to expand the property, which has over 115,000 阿拉爱上海同城 爱上海龙凤419桑拿square feet of unused development rights.

Colliers International’s David Glassman, who also handles leasing at the building, is brokering the purchase.

Onyx is also in the market for between $40 million to $45 million in acquisition financing, sources said. Newmark Knight Frank’s Jordan Roeschlaub and Dustin Stolly are handling that search.

Newmark declined to comment, and neither Onyx nor Colliers could be immediately reached.

Onyx is planning another conversion right next door. It partnered with KBS Capital last year to convert a two-story church at 210 West 31stStreet into a retail property. Onyx has been in contract for nearly a year to sell an 80 percent stake in that building to KBS for $39.8 million.

These two pending purchases look to be Onyx’s only major New York City deals to date. The firm primarily buys commercial properties in New Jersey, Philadelphia and New York suburbs.

Tags: Commercial Real Estate, office market
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Brookfield Asset Management

We re number two, we try harder : How Brookfield is trying to regain the top investor crown CEO Bruce Flatt spearheading efforts to make company better known

Bruce Flatt (Credit: Brookfield Asset Management)

Brookfield Asset Management would like to be 爱上海 爱上海同城手机版more well known. It just doesn’t want to be too ostentatious about it.

The company,爱上海同城对对碰 爱上海同城论坛 which manages $269 billion worth of assets, has been quietly trying to increase its name recognition and publicity, efforts that CEO Bruce Flatt is spearheading, according to the Wall Street Journal.

“He’s incredibly smart and doesn’t have the herd mentality,” Gray told the newspaper. “So he’ll go to Brazil when no one likes Brazil. He’ll buy distressed assets when things are beaten down.”

When the company fell behind Blackstone Group in an industry ranking of the largest real-estate investors in the world earlier in the year, for instance, Brookfield lobbied the group behind the ranking to make it c上海千花网论坛 上海千花网learer that its infrastructure investments had not been included.

Associates of Flatt to爱上海同城论坛 爱上海同城ld the Journal that Brookfield’s relative anonymity can be frustrating to the CEO, who is known for his contrarian investments in places ranging from Brazil to the retail-centric real estate investment trust GGP. Brookfield recently made a $15 billion bid to buy the remainder of GGP.

When asked if Brookfield got enough credit for its work, Flatt told the Journal the company was “thrilled with our partnerships we have with our investors and the trust they put in us.” [WSJ] – Eddie Small

Tags: Blackstone Group, Brookfield Asset Management, real estate investors
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