Whether you’re heading east to the Hamptons this long weekend or trying to cool off in the city, there’s never been a better time to catch up on any episodes of The Real Deal you missed over the first few months of the year.
Here are the 10 stories that gained the most new subscribers:
Why is the Barry Drillman case such a big deal?
In December, a little-known Brooklyn-based real estate investor, Borch Drillman, pleaded guilty to his role in a $165 million fraud scheme. Drillman and his co-conspirators allegedly inflated sales prices and staged fake closings to obtain larger-than-normal loan amounts.
While real estate fraud is not uncommon in New York and New Jersey, this particular case had a domino effect on the mid-market real estate market.
Cushman crisis: $3 billion in debt, management change
Cushman & Wakefield is in the midst of one of the most challenging years in its 100-year history, and not just because of the dire state of commercial real estate. The brokerage has seen heavy turnover at the top, a mountain of debt and questionable decisions.
The Real Deal invited readers inside the company to assess its crisis of trust.
Abe Cohen did almost everything right and still lost the apartment deal
At first glance, it’s hard to see why Abe Cohen’s debt in a largely free-market multifamily portfolio was placed under special management. After all, the leader of Conway Capital didn’t face some of the pitfalls we’re seeing in today’s multifamily crisis, including variable-rate loans and low occupancy rates.
We took a closer look at the data to assess where Cohen went wrong.
Lawmakers sign comprehensive housing deal that includes “just cause evictions” and new section 421a
One of the biggest stories in the first few months of the year was the budget debate unfolding in Albany and how it would affect the housing and rental market and development. It took a while, but New York Governor Kathy Hockle and state lawmakers reached an agreement in mid-April that included two controversial policies.
“The Real Deal” highlighted some of the most important budgeting principles for the real estate industry.
Meet the real man behind the anonymous “StripMallGuy” X account
Speaking exclusively to The Real Deal, we got a peek behind the scenes to reveal the man behind the well-known real estate X account known as “StripMallGuy,” which has amassed over 215,000 followers. This was his first public appearance since starting the account three years ago.
Bob Nakal leaves JLL
One of the biggest personnel changes so far this year has been the departure of Bob Nakal from JLL. The Real Deal was one of the first publications to report the news that Nakal had been ousted from the firm after a six-year association. Nakal (and his famed map room) are looking to forge their own path after a long career as New York City’s top commercial sales broker.
Tides raises funds to back 30 Sunbelt properties
Tides Equities, a syndicator that pools stock for apartment acquisitions, has been in the news a number of times in recent months. In February, The Real Deal reported that the Los Angeles-based company was considering acquiring $69 million in preferred stock to bolster 30 properties in the Sun Belt region.
Many of Tides’ real estate loans have been troubled by their reliance on floating-rate debt.
Nir Meir, HFZ Capital and OmniBuild executives charged with grand theft
The Neil Meir saga has come to a head multiple times this year, with a former executive at HFZ Capital Group serving time in New York’s most notorious prison. In February, the Manhattan district attorney indicted Meir and other executives at HFZ Capital Group and OmniBuild in a scheme that allegedly made tens of millions of dollars.
OmniBuild was the contractor for The XI, HFZ’s trophy condo project along the High Line, which eventually went to another developer.
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Why is the Barry Drillman case such a big deal?
Cushman crisis: $3 billion in debt, management change
Abe Cohen did almost everything right and still lost the apartment deal
Behind the scenes of a syndicator machine targeting new investors in multifamily feeder funds
The boom in multifamily syndications is bringing all types of investors into the real estate industry. Investors are looking to renovate, increase rents, share in the revenue, and earn a profit. Syndicators are targeting investors looking for high returns, tax benefits, and an escape from the drudgery of a 9-to-5 job.
The Real Deal profiled some of the investors, including doctors, dentists, engineers and pilots.
Why NAR’s big vision for brokers collapsed
The National Association of Realtors is facing an existential threat after facing antitrust lawsuits, public criticism, regulatory scrutiny and several serious internal problems that have come to light in recent months.
As NAR tries to chart its future, we explored whether a mass exodus from this key industry association is likely and what the future holds for NAR.
