The Real Deal

New York real estate power players joined Bob Knakal, Don Tepman (aka StripMallGuy) and the TRD team for the official RealEstateX Gala pre-party at The Real Deal's NYC HQ last night. Watch to hear how some of the stars of #RETwit use the platform for dealmaking, networking, advice and more.

A woman who was injured when a portion of a tower crane collapsed in downtown Fort Lauderdale is suing the general contractor, subcontractors and developer of the luxury apartment tower under construction.

Swing into action at our upcoming NY Golf Classic! After a sold-out tournament last year, the Golf Classic isn't one to miss. Join 200+ #realestate professionals on Monday, July 15 at The Village Club of Sands Point for a day of #networking and friendly competition. Reserve your foursome! Contact our sales team about sponsorship opportunities: https://bit.ly/3Prj8GG A portion of our proceeds will be donated to The Holocaust Memorial and Tolerance Center.

After rock-bottom interest rates ignited a buying spree in 2021, Manhattan was left with fewer unsold new condos than at any point since 2016. Still, despite elevated mortgage rates lingering, demand is proving resilient. But that comfy equilibrium between supply and demand in New York’s new condo market won’t last forever. "The pipeline is empty," appraiser Jonathan Miller of Miller Samuel. "Three to four years from now, there’s going to be little condo inventory coming online. It’s going to keep pricing elevated." As Orion Jones writes in TRD's April issue, pensive developers and economic forces like higher costs and a lack of land to build on could dry up the inventory pipeline soon. The stakes of not building, however, are high — and not just for the housing market. Read more about the uncertain balancing act of NYC's condo market here: https://bit.ly/4bcGo3B

Community Housing Improvement Program - CHIP NYC's Jay Martin will be at #TRDForum — will you? On May 8th, the landlord advocate will take the stage along with NYU Robert F. Wagner Graduate School of Public Service's Vicki Been, Charney Companies LLC's Sam Charney and The Hudson Companies, Inc.' David Kramer to discuss New York's housing deal, and the realities of developing (or not developing) new housing in NYC. Don’t miss these experts detailing everything you need to know about the state of housing and development policy in NYC. Get your tickets here: https://bit.ly/3WzQyrh

Tides Equities' original investors could suffer big losses if the #multifamily syndicator reels in a round of preferred equity.

HomeServices of America is out of the broker commission fight.

In this week’s roundup, we look at New York’s recent housing deal, and break down some of the laws that will impact real estate. Plus, WeWork may be forced to take a lifeline from its ousted co-founder, Elon Musk breaks away from Austin, Texas, and another billionaire makes a move to Florida. These stories and more below. THE RUNDOWN: 🗽 New York state lawmakers finally passed a new housing deal last weekend. The agreement includes a replacement for #421a, a form of good cause eviction, and a measure to help landlords fund repairs of run down rentals. 💰 WeWork’s bankruptcy proceedings have been fraught with trouble. Now, its creditors are demanding that the #coworking firm consider a buyout from the ousted co-founder Adam Neumann. 🤠 Elon Musk is using a controversial “de-annexation” law to break Tesla’s gigafactory away from #Austin, sparing the property from the city’s taxes and regulations. 🌴 Another #NewYork billionaire is making a highly publicized move to South Florida. This time, it’s hedge funder Larry Robbins. 🧸 On Chicago’s South Side, a string of #multifamily deals made by a pair of investors raised eyebrows in the real estate community. Now, twelve of the properties are all being foreclosed on. 🎬 A recent office sale in Downtown #LosAngeles has set a new price floor for the region’s #commercial market. Meanwhile, another bigtime sale in the neighborhood fell apart. #realestate

Now that New York has a new #propertytax break, developers have options. Depending on the state of their site and their eagerness to build, developers can apply for the new program, move forward with the old version of #421a or sell the land, presumably at a better price than was possible a week ago. Kathryn Brenzel breaks down developers' options at the link.

Download our latest white paper to learn how Amazon Key is streamlining access and revolutionizing package delivery in the challenging multifamily space. Through interviews with multifamily experts and executive teams, we discovered how Amazon Key is unlocking the potential of package delivery and access. Read the white paper for an inside look at this revolutionary new technology. https://lnkd.in/erUKd5xt Exclusive interviews: Kaushik Mani, Gerald Nievera, Roie Telyas, Anne-Marie "Punky" Witt + Tides Equities - Sean Kia + FirstService Residential - David Diestel + 29th Street Capital - Mark Chrisman + Camden Property Trust - Kristy Simonette + MD Squared Property Group, LLC - Michael Mintz #Brandstudio, #AmazonKey #MultifamilyTech #FutureProofLiving #ConvenientDelivery #PropertyManagement #InnovationInRealEstate #Sponsored