2019 · our readers 30% make $150k+ per year 75% of audience are 18-54 years old 90% more likely to...

2 0 1 9 M E D I A K I T + P R O D U C T C A T A L O G

NEW YORK | SOUTH FLORIDA | LOS ANGELES | [email protected]

REAL ESTATE NEWS

“Wealthiest audience on the internet”–Quantcast & MarketWatch

2 0 1 9


C O N T E N T S

Traffic

Digital Opportunities

Sponsored Content

Email Marketing

Digital Pricing

Print/Distribution

Integrated Campaigns

Fall 2018 | $3.00

www.TheRealDeal.com/LA

Los Angeles Real Estate News

Developers hope a federal program

will set off a new California Gold Rush —

but questions remain

p34

Insta-famous: The art

of a social media savvy

open house

p12

Blast from the past:

Big-time agents reveal their

star turns in Hollywood

p56

Rocking the vote:

Who the industry is

backing — and why

p18

The churn: Resi firms

with the highest

turnover rates

p26

001_Cover_FINAL.indd 1

10/17/18 11:29 PM

South Florida Real Estate News

Fall 2018 | $3.00 | www.TheRealDeal.com/Miami

Money laundering and the “see no evil” culture of South Florida’s new development market p34D I R T Y M O N E YS H I N Y C O N D O SRanking the biggest foreign investors in tri-county real estate p30

And this year’s top South Florida resi brokerage is... p24

Election Day: Who the industry is betting on & what they’d deliver

p19

A tale of two titans and two tall projects in West Palm Beach p52

Vol. 16 No. 10 | October 2018 $3.00

www.TheRealDeal.com

New York Real Estate News

The NYC law fi rms

with the biggest real

estate practices

p84Can powerbroker

Bob Knakal alter the

playing fi eld at JLL?

p52New wave of

crypto startups aim

to go beyond hype

p46

High-tech condo amenities

come back to bite

developers in the wallet

p98

ANDREW CUOMO ’s

move to the left,

LETITIA JAMES ’ expected

AG victory and a surge

of anti-REBNY candidates

in the State Capitol

could spell trouble for the

real estate industry

p34R E S E TA L B A N Y ’ S P O L I T I C A L

WestchesterFairfieldLong IslandThe HamptonsNew Jersey

The Tri-State Quarterly Issue will publish quarterly and

will offer our readers news and analysis exclusive to the markets listed above.

This stand-alone quarterly issue will have distribution throughout each

of those markets as well to TRD ’s subscribers

THE TRI-STATE

QUARTERLY ISSUE

55K COPIES DISTRIBUTED ACROSS ALL MARKETS

C O N TAC T U S TO DAY TO P L AC E YO U R M E SSAG E I N T H E M O ST T R U ST E D S O U R C E F O R R E A L E STAT E N E W S

212.260.1332 | ADVERTISING@THEREALDEAL .COM

C O M I N G 2 0 1 9

2 0 1 9 M E D I A K I T + P R O D U C T C A T A L O G B A C K T O T O P2 0 1 9 M E D I A K I T + P R O D U C T C A T A L O G

W idely considered the bible of real estate, is mandatory reading for anyone in the industry or servicing it. Real estate professionals on every level consistently turn to this definitive publication in print and online for timely information, relevant statistics,

unique perspectives, market trends and laser-sharp insights.

Our in-depth reporting includes breaking news and market trends on brokerage, development, lending, finance, architecture, property management and more.

features more original reporting on the real estate market than all other daily and weekly publications!

REAL COVERAGE

has combined print readership of 500K+ and 700K+ online. And our readers all have one thing in common: a desire for the most insightful news and analysis on real estate in NYC, SoCal, SoFla & Chicago. And they always get it, which is why boasts a 78% renewal rate and an over 70% sell-through rate at newsstands.

REAL REACH

A B O U T U S

2 0 1 9 M E D I A K I T + P R O D U C T C A T A L O G B A C K T O T O P

D I G I T A L M E T R I C S

2M+U N I Q U E M O N T H LY V I S I T S

4M+M O N T H LY V I S I T S

#1WEALTHIEST VISITORS OF ANY WEBSITE,

ACCORDING TO QUANTCAST

40%OF TRAFFIC IS FROM

MOBILE DEVICES

1800thMOST TRAFFICKED

WEBSITE IN THE U.S.

15MPAGEVIEWS PER MONTH

82%OWN RESIDENCES

$315,000AVERAGE

HOUSEHOLD INCOME

20 mins. AVERAGE VISIT TIME

Source: Google Analytics


N E W Y O R K S O U T H F L O R I D A L O S A N G E L E S C H I C A G O2 5N E W S T O R I E S P E R D AY

1 5N E W S T O R I E S P E R D AY



2 M +M O N T H LY V I S I T O R S

6 0 0 , 0 0 0 +M O N T H LY V I S I T O R S



1 0 M I L L I O N +PA G E V I E W S P E R M O N T H

2 M I L L I O N +PA G E V I E W S P E R M O N T H

1 . 5 M I L L I O N +PA G E V I E W S P E R M O N T H

1 . 5 M I L L I O N +PA G E V I E W S P E R M O N T H

3 3 M I N .AV E R A G E V I S I T T I M E

1 9 M I N . 4 3 S E C .AV E R A G E V I S I T T I M E

1 8 M I N . 2 6 S E C .AV E R A G E V I S I T T I M E

7 M I N . 2 5 S E C .AV E R A G E V I S I T T I M E

7 5 0 , 0 0 0 + O F R E A D E R S A R E N E W M O N T H LY V I S I T O R S



4 2 , 0 0 0 + O F R E A D E R S A R E N E W M O N T H LY V I S I T O R S

4 . 7 8PA G E S V I S I T E D P E R U S E R




O U R M A R K E T S




O U R R E A D E R S

30%MAKE $150K+ PER YEAR

75%OF AUDIENCE ARE 18-54 YEARS OLD

90%MORE LIKELY TO OWN

A HOME $1M+

7xHOLD A DECISION-MAKING

JOB TITLE

60% MALE

40% FEMALE

R E S I D E N T I A L B R O K E R S

C O M M E R C I A L B R O K E R S

M O R T G A G E B R O K E R S

R E A L E S T A T E I N V E S T O R S

D E S I G N E R S

L E N D E R S

A R C H I T E C T S

D E V E L O P E R S

I N V E S T M E N T B A N K E R S

R E I T E X E C U T I V E S

R E A L E S T A T E A T T O R N E Y S

W E A LT H M A N A G E M E N T

C O N S T R U C T I O N M A N A G E M E N T80%

COLLEGE LEVEL OR ABOVE


40%OF TRAFFIC IS FROM MOBILE DEVICES

#1 WEALTHIEST VISITORS OF ANY WEBSITE,

ACCORDING TO QUANTCAST

BRAND LOYALTY

50%OF USERS ARE REGULARS\ FANATICS

30%AVERAGE EMAIL OPEN RATE

20MPAGEVIEWS PER MONTH

2MUNIQUE VISITORS

4MVISITORS

90%US NATIONAL USERS WITH MAJOR CITY FOCUS

$315,000AVERAGE HOUSEHOLD INCOME75%

OF USERS ARE 18-54 YEARS OLD 99%OWNS BUYING POWER IN HOUSEHOLD

D I G I T A L M E T R I C S

O U R A U D I E N C E

OWNS $1M+ HOUSE

PARTNERS WITH

A FINANCIAL SERVICE

REAL ESTATE INTEREST

PURCHASES HIGHEND

RETAIL GOODS

OWNS LUXURY VECHILE

O U R U S E R S H A V E B U Y I N G P O W E R

15X

13X

11X

9X

7X

5X

3X

60% MALE

40% FEMALE

80% COLLEGE LEVEL

OR ABOVE

95% of users are C-Suit, Business OwnerBoard member, or

senior management

Real Estate

Education

Business

Retail

Manufacturing

Real Estate

Finance

HR

Marketing

Sales

O U R U S E R S A R E P R O F E S S I O N A L ST O P I N D U S T R Y T O P P R O F E S S I O N

95% of users are C-Suite, Business Owner Board Member, or Senior Management

O T H E R A F F I N I T I E S

ARTS & ENTERTAINMENT2.5X

EDUCATION1.9X

PERSONAL FINANCE7.0X

RELATIONSHIPS2.6X

AUTOMOTIVE 5.7X

ENVIRONMENT3.3X

REAL ESTATE13.3X

SCIENCE2.3X

BUSINESS 6.3X

HEALTH & FITNESS3.1X

NEWS3.8X

SHOPPING2.3X

CAREERS 6.2X

FOOD & DRINK2.5X

REFERENCE3.7X

SOCIETY3.2X

D I G I T A L F A C T S H E E T


O U R R E A D E R S The website with the most disproportionately wealthy visitors is , a website about New York, Los Angeles and Miami real estate news, with 27.2% of its readers making more than $150,000. is followed by startup database Crunchbase and DC Urban Mom, a blog and forum

for Washington, D.C. parents (where, incidentally, the question of what defines “rich” seems to come up fairly often).

also pops up on the list of websites with the most educated audience (79.2% of visitors have an undergraduate degree), as does CrunchBase (86.1%).

Top 25 Websites with the Wealthiest Audience

RANK WEBSITE CATEGORYPERCENT WITH

HOUSEHOLD INCOME > $150,000

1 TheRealDeal.com Real Estate 27.2%

2 crunchbase.com Finance 26.2%

3 dcurbanmom.com Lifestyle (Parenting) 23.8%

4 4-traders.com Finance 23.4%

5 usta.com Sports (Tennis) 22.6%

6 cnbc.com Finance 21.8%

7 wtop.com News (Local) 21.4%

8 opentable.com Lifestyle (Food) 20.7%

9 bringatrailer.com Cars 20.6%

10 stockhouse Finance 19.7%

11 marketwatch.com Finance 19.3%

12 nasdaq Finance 19.3%

13 drudgerport.com News (Conservative) 18.8%

14 finviz.com Finance 18.6%

15 stockcharts.com Finance 18.6%

16 golfwrx.com Sports (Golf) 18.4%

17 zerohedge.com Finance 18.1%

18 stockwits.com Finance 18.0%

19 pagesix.com Entertainment 17.7%

20 serverfault.com Forum (Computers) 17.7%

21 cvent.com Events 17.6%

22 nj.com News (Local) 17.4%

23 dilbert.com Comics 17.3%

24 curbed.com Lifestyle 17.2%

25 liberation.fr News (France) 17.1%

Quantcast-tracked sites with the highest percentage of web traffic making $150k +

Top 25 Websites with the Most Educated Audience

RANK WEBSITE CATEGORYPERCENT WITH AT LEAST AN UNDER-

GRADUATE DEGREE

1 crunchbase.com Finance 86.1%

2 deadspin.com Sports 85.1%

3 jezebel.com Lifestyle (women) 84.5%

4 celebitchy.com Entertainment 83.3%

5 finviz.com Finance 83.1%

6 fark.com Forum (Weird news) 83.1%

7 deseretnews.com News (Local) 82.8%

8 politico.com News 82.8%

9 stockcharts.com Finance 82.6%

10 usta.com Sports (Tennis) 82.3%

11 math-aids.com Education 81.3%

12 gothamist.com News (NYC) 81.2%

13 boinboing.net Entertainment 81.1%

14 slate.com News 80.9%

15 dilbert.com Comics 80.8%

16 dlisted.com Entertainment 80.8%

17 sltrib.com News (local) 80.5%

18 eater.com Lifestyle (food) 80.4%

19 salon.com Entertainment 80.2%

20 crooksandliars.com News (liberal) 80.1%

21 curbed.com Lifestyle 79.7%

22 letsrun.com Sports (running) 79.6%

23 kinja.com News 79.6%

24 golfwrx.com Sports (golf) 79.5%


Quantcast-tracked sites with the highest percentage of web traffic with higher education

RANK WEBSITE CATEGORY PERCENT WITH HOUSEHOLD INCOME > $150,000


RANK WEBSITE CATEGORY PERCENT WITH AT LEAST AN UNDERGRADUATE DEGREE



D I G I T A L O P P O R T U N I T I E S | H O M E P A G E

BILLBOARD

MEDIUM RECTANGLE

LEADERBOARD

WALLPAPER

7 2 8 x 9 0 P I X E L S

1 8 0 x 7 0 0 P I X E L S

9 7 0 x 2 5 0 P I X E L S

3 0 0 x 2 5 0 P I X E L S

PREVIEW ON THEREALDEAL.COM


MEDIUM RECTANGLE

LEADERBOARD HALF PAGE PORTRAIT7 2 8 x 9 0 P I X E L S

3 0 0 x 6 0 0 P I X E L S

3 0 0 x 2 5 0 P I X E L S

D I G I T A L O P P O R T U N I T I E S | D E S K T O P PREVIEW ON THEREALDEAL.COM


PRELOAD1 3 0 0 P I X E L S W I D E

( F U L LY C U S T O M I Z A B L E )

D I G I T A L O P P O R T U N I T I E S | H I G H I M P A C T U N I T S PREVIEW ON THEREALDEAL.COM


HOMEPAGE TAKEOVER1 3 0 0 P I X E L S W I D E

( F U L LY C U S T O M I Z A B L E )

D I G I T A L O P P O R T U N I T I E S | H O M E P A G E T A K E O V E R PREVIEW ON THEREALDEAL.COM

250KVISITS PER DAY


THE BEST OF REAL ESTATE NEWS ON THE GO

D I G I T A L O P P O R T U N I T I E S | M O B I L E

3 0 0 X 5 0 P I X E L S

3 0 0 X 2 5 0 P I X E L S

BANNER ADS ON MOBILE SITE

PARALLAX AD ON MOBILE SITE


hosts the landing page with content (copy, images, videos) provided by client.

The headline & landing page would also stay live on our site for 30 days.

Homepage receives 70% of TRD web site traffic

SPONSORED ARTICLE POST ON HOMEPAGE

S P O N S O R E D C O N T E N T | W E B S I T E


S P O N S O R E D C O N T E N T | E - L E R T

SPONSORED ARTICLE POST (NEWSLETTER)

The “Article” will be placed in our daily newsletter along with the articles we write.

will host the landing page with content (copy, images, videos) provided by client.

The landing page stays live on our site for 30 days.


E M A I L M A R K E T I N G | D A I L Y N E W S L E T T E R S

REGION OPT IN SUSBCRIBERS FREQUENCY CTR

NYC 42,000 Daily 8.5%

SOUTH FLORIDA 31,000 Daily 6.0%

LOS ANGELES 30,000 Daily 3.4%

CHICAGO 40,000 Daily 1.4%

NATIONAL 182,000 Friday 0.4%

LONG ISLAND 13,000 Monday 0.9%

CHINA WATCH 74,000 Tuesday 0.3%

HAMPTONS 11,000 Wednesday 6.6%

WESTCHESTER & FAIRFIELD 8,200 Thursday 13.0%

NEW JERSEY 24,000 Friday 1.2%

28%AVERAGE OPEN RATE OF

E-LERT DIGITAL AD

1 2 0 0 x 3 2 0 P I X E L S

The Email drop will be delivered to ’s opt-in subscribers and can be sent to any of our email lists.

The Belnord | Spectacular 3BR in the UWS’s Most Storied Building, Re-envisioned by Robert A.M. Stern | $6.3M

15% — 20% OPEN RATE

DEDICATED EMAILF U L LY C U S T O M I Z A B L E :S E N D E R , S U B J E C T A N D B O D Y, T O A N Y L I S T S

E M A I L M A R K E T I N G | D E D I C A T E D E M A I L



Sponsorship includes:

• 100% SOV on desktop and mobile for one month of sponsored videos

• Four 3 to 4 minute hosted custom videos (sponsor to pick one heavy hitter)

• Custom landing page currating all sponsored content• Logo will appear in video• Co-branded banners promoting web series• 100% SOV homepage takeover (3) including wallpaper• Social posts promoting the video to TRD readers on

Twitter, YouTube, Facebook, Linked-In and Instagram• Promotion within daily newsletters• ROS display units

is offering the opportunity for brands to align with the top names and the latest thought leadership on the most buzzed about stories in real estate.

Features women and men who have shaped the New York skyline to chat about their careers, market trends and the news of the day.

Past guests in Studio include some of the biggest players in the business, from developers to brokers to top lawyers and financiers, including:

• Steve Witkoff – The Witkoff Group• Ryan Serhant – Nest Seekers • John Banks – REBNY • Ziel Feldman – HFZ Capital Group

W E B S E R I E S | H E A V Y H I T T E R S V I D E O P A C K A G E

CLICK HERETO WATCH


D I G I T A L P R I C I N G

Billboard 970x250 pixels

Leaderboard 728x90 pixels

Half-Page Portrait 300x600 pixels

Medium Rectangle 300x250 pixels

Pre-load 1300 pixels wide (fully customizable)

DIGITAL BANNER ADS (DESKTOP):

Sticky Bottom 1 300x50 pixels

Sticky Bottom 2 320x50 pixels

Medium Rectangle 300x250 pixels

DIGITAL BANNER ADS (MOBILE):

Article Page Sponsorship

550x480 pixels (25% SOV on article pages)

Wallpaper 180x700 pixels (2)

TakeoverIncludes all banner advertisements for

a 24-hour period

SHARE OF VOICE:

New York 550x600+ pixels

South Florida 550x600+ pixels

Los Angeles 550x600+ pixels

Chicago 550x600+ pixels

Westchester 550x600+ pixels

Long Island 550x600+ pixels

Hamptons 550x600+ pixels

New Jersey 550x600+ pixels

DEDICATED EMAILS:

E-LERTS: National, Hamptons, Westchester/Fairfield

e-Lert Banner 1x 4x 8x

Daily e-Lert Inquire for pricing

Inquire for pricing

Inquire for pricing

Sponsored Package Inquire for pricing

WEB SERIES:

Homepage Placement Inquire for pricing

Newsletter Placement Inquire for pricing

SPONSORED CONTENT:

Inquire for pricing


P R I N T | C O R E M A R K E T S & D I S T R I B U T I O N

NE W YOR KMonthly

183,000 Print Readers65,000+ circulation

T R I -S TAT EQuarterly


S OU T H F L OR IDAQuarterly


L O S A NGEL E SQuarterly


is the largest real estate news outlet in the world, producing more content than any other. It is the Bible of the real estate news and analysis for anyone in the industry or servicing it.

Airline distribution copies*

9,000+

Newsstand distribution copies

3,500+Member distribution copies to the

Miami Association of Realtors

5,000+

Special distribution partnerships with Beverly Hills/Greater Los Angeles

Association of Realtors and Arcadia Association of Realtors

Distribution to Westchester/ Fairfield, Long Island,

the Hamptons, New Jersey and New York City paid subscribers.


E D I T O R I A L C A L E N D A R S*TOPICS SUBJECT TO CHANGE

South Florida Real Estate News

Fall 2018 | $3.00 | www.TheRealDeal.com/Miami

Money

laundering

and the

“see no evil”

culture of

South

Florida’s new

development

market

p34

D I R T Y M O N E Y

S H I N Y C O N D O SRanking the biggest

foreign investors in

tri-county real estate

p30And this year’s top

South Florida resi

brokerage is...

p24Election Day: Who the

industry is betting on

& what they’d deliver

p19

A tale of two titans

and two tall projects

in West Palm Beach

p52

Fall 2018 | $3.00www.TheRealDeal.com/LA

Los Angeles Real Estate News

Developers hope a federal program will set off a new California Gold Rush —

but questions remain p34

Insta-famous: The art of a social media savvy open house p12

Blast from the past: Big-time agents reveal their star turns in Hollywoodp56

Rocking the vote: Who the industry is backing — and why p18

The churn: Resi firms with the highest turnover rates p26

001_Cover_FINAL.indd 1 10/17/18 11:29 PM

New York Real Estate News

Manhattan nabes with the most new condo supply p60

Inside real estate’s cryptocurrency test cases p50

Is NYC headed for another foreclosure crisis? p46

Serhant lands top spot on residential agent ranking p78

K U S H N E R , U N F I L T E R E D

Vol. 16 No. 6 | June 2018 $3.00www.TheRealDeal.com

CHARLIE KUSHNER gets candid

about 666 Fifth, federal investigations,

tenant-harassment allegations

and having his son in the White House p37 CHARLIE KUSHNER (front) with LAURENT MORALI, president of Kushner Companies

FEBRUARY

MAY

AUGUST

NOVEMBER

TRI-STATE

JANUARY TBD

FEBRUARY The top residential brokerages & investment sales firms

MARCH The top architecture shops

APRIL Elite office leasing firms

MAY Dominant construction firms in NYC

JUNE Biggest residential brokers

JULY TBD

AUGUST TBD

SEPTEMBER The top commercial real estate lenders

OCTOBER Most prominent real estate law firms

NOVEMBER Titans of property management

DECEMBER Biggest retail leasing firms

NEW YORK

WINTER 2018-2019 Hot pockets: Looking at the most active single-family home marketsCoworking's top dogs: assessing the health of the top firms in the business

SPRING 2019 Ranking the top luxury brokers in L.A.

Who are biggest commercial lenders in L.A. County?

SUMMER 2019 Ranking the top commercial brokerages in Los Angeles

Investigating prop tech's buzziest companies

FALL 2019 Ranking the top property management companies in LA Taking the temperature on condo values: Resale versus new development

LOS ANGELESSPRING 2019 Ranking the top luxury brokers in Miami-Dade county

The biggest office trades of the year

SUMMER 2019 Ranking South Florida's top developers

The top retail brokerages in the region

FALL 2019 Ranking the top lenders and construction loans

The priciest residential home sales of the year

WINTER 2019 The top general contractors in Miami-Dade county

Agent movement between resi brokerages

SOUTH FLORIDA

COMING 2019:


P R I N T S P E C S | A L L M A R K E T S

• All images and ads must be in CMYK color format

• Images must have MINIMUM resolution of 300 dpi

• All blacks must be true black, not four-color

• Text must not be closer than 1/4” from the trim

• All ads must have 1/8” bleed off the trim

• All fonts must be embedded

• OPI links must be turned off

• All ads must be delivered as PDF/X1A format

TWO PAGE SPREAD21” x 14.5”21.25” x 14.75” (with bleed)20.75” x 14.25” (text safety area)

July 2018THEREALDEAL.COM

T H I S M O N T H I N

82

COMPILED BY ERIN HUDSON

REAL ESTATE HISTORY

ICONIC SOUTH BROOKLYN HOTEL REOPENS AFTER PHYSICAL MOVE

PARK AVENUE CO-OP PROJECT KICKS OFF MONTHS BEFORE DEPRESSION

1888

1929A 19-story Upper East Side co-op building designed by the prolifi c Italian-American architect Rosario Candela snagged $2.5 million in construction fi nancing 89 years ago this month, the New York Times reported. When the $2.8 million project at 770 Park Avenue was fi rst announced in March 1929, plans called for 500 rooms that would be divided into 35 duplex apartments. By that July, the Times was reporting that the units would collectively sell for more than $5 million once they hit the market. The prediction seemed in line with the residential construction boom occurring along Park Avenue. But a few months later, the stock market crashed, and by the time 770 Park was ready for its debut in 1930, the Great Depression had begun. Real estate reporters wondered how Park Ave-nue’s slew of new apartments would fare, and one builder and operator, Benjamin Winter, told the Times that business was still humming along: “The general real estate market is surely sound, if inactive,” he said in a September 1930 inter-view. “After all, persons must have homes to live in, and they do insist on maintaining certain standards.” TRD

The Brighton Beach Hotel reopened for the summer season 130 years ago this month, after being relocated in its entirety several hundred feet inland, the New York Times reported. The wood-framed hotel — a favorite haunt for wealthy New Yorkers since it opened in July 1878 — had closed for about half a year to accommodate the move away from the Atlantic Ocean’s encroaching shoreline. It took 120 railroad cars to do the job and “not even a window pane was broken,” according to Brownstoner. William Engeman, a weapons dealer in the Civil War, established the Brighton Beach resort area in the late 1860s, after buying several hundred acres of beachfront property for a reported $20,000. He supposedly named it after the seaside town in England fa-mous for attracting affl uent vacationers, including British royalty. As the popularity of Coney Island and the surrounding neighborhoods grew, more development began to crop up, prompting most wealthy patrons to seek exclusive beaches elsewhere. The fi nal straw, reportedly, was a 1908 an-ti-gambling law that prohibited betting at New York racetracks, offi cially ending one of the most popular pastimes at the Brigh-ton Beach Hotel. By the 1930s, Engeman’s former seaside resort was overtaken by apartment complexes.

Construction on the New York Times’ new headquarters in Manhattan began 115 years ago this month, according to a story fi rst published in the Ogdensburg Jour-nal. The site of the 25-story tower, known as the Times Tower, was a triangular plot overlooking the neighborhood then known as Longacre Square. But the newspaper’s publisher, Adolph Ochs, convinced the city to change the area’s name to Times Square so the building could assume the address One Times Square. In another marketing stunt, on New Year’s Eve of 1904, Ochs staged the fi rst annual fi reworks show from

the top of the tower — which was still under construction — and introduced the idea of a ball dropping three years later. The Times Tower was completed in 1905. The newspaper outgrew the space in less than a decade and relocated to a larger building about 200 feet away, on West 43rd Street, but the publication continued to own its former headquar-ters until 1961. The Times added an electronic news ticker to the building’s facade in 1928, inspiring the crop of neon signage that attracts tourists to the neighborhood today. One Times Square changed hands several times; in 1997, Lehman Brothers sold the building to Jamestown for $177 million.

NEW TIMES TOWER MARKS THE BIRTH OF TIMES SQUARE1903

WEB HED: Architect Stanford white murdered, the Vander-bilts split up, and more…

WEB DEK: This month in real estate history

GETTY IMAGES

The Brighton Beach Hotel

Rosario Candela

New York Times Building

Building Quality Projects in New York City

& Worldwide

646.975.9100 [email protected]

2017 The Real Deal Ad - Quarter Page.indd 1 4/27/2017 4:07:56 PM

QUARTER PAGE4.625” x 6.375”no bleed necessary

FULL PAGE10.5” x 14.5”10.75” x 14.75” (with bleed)10.25” x 14.25” (text safety area)

July 2018THEREALDEAL.COM46

movement of these slim towers. Build-ings are incorporating concrete with as much as 14,000 pounds per square inch compressive strength. Tuned mass dampers — which can take the form of a giant pendulum at the top of the build-ing — help stop towers from swaying in the wind. Elevator companies are also racing to dream up the best way to trav-el in these structures, like Ger-many-based ThyssenKrupp, which has been working on an elevator that can move verti-cally and horizontally.

But in New York, other ob-stacles stand in the way. Be-cause Manhattan is an island, buildings must be designed with the transportation of construction materials in mind. The steel used for Re-lated Companies and Oxford Property Group’s Hudson Yards, for example, was de-signed so it could be delivered by ship and across bridges. Additionally, the tight con-straints of development sites limit what kind of construc-tion material can be stored and what can be transported down narrow side streets.

The size of a lot also severely restricts what can be built on it. The maximum development allowed on a site is determined by multiplying the lot’s size by a city-determined fl oor area ratio (FAR). With the exception of Midtown East — which was recently rezoned — and Hudson Yards, most of the zoning in the city doesn’t exceed 15 or 16 FAR.

The RPA has supported recent efforts in Albany to lift a cap on the size of residential buildings, which limits fl oor area ratios at 12. Gates said the legislation — which didn’t make it past the state Senate’s rules committee before the end of the session — is about adding more apartments to buildings. But critics argue that too many buildings are “architecturally imposing” without adding signifi cant amounts of new housing.

“Opposition to this is just, ‘This means a building is going to be twice as high,’ which is completely untrue,” Gates said.

As a result of such regulation, assembling the necessary development rights for towers that exceed their

FAR takes time and often requires cutting deals with several different parties, including city offi cials and neighboring property owners. By the time a developer has amassed the necessary building rights for a project, the market for that particular asset type might be soft.

Holding onto a site for an extended period of time doesn’t just pose fi nancial

risks, Selver said. The city’s zoning regulations are anything but static, and neighborhood groups have increasingly taken action against projects they deem out of character with the neighborhood.

For example, construction of a planned 800-foot tower, on the Upper East Side, Sutton 58, was halted for several months after a local group — with the support of the local City Council member — secured a rezoning of the area that would restrict the building’s height. Gamma Real Estate, the project’s developer, won an exemption from the rezoning in late June after taking its case to the Board of Standards and Appeals. Still, the opposition group, the East River 50s Alliance, plans to fi le a lawsuit to stop the project. Similar efforts to stop another project on the Upper East Side, DDG’s 521-foot-tall 188 East 88th Street, and one on the Upper West Side at SJP Properties and Mitsui Fudosan’s 668-foot-tall 200 Amsterdam Avenue.

“It’s very, very time-consuming,” Selver said. “You have to have real stay-ing power, and there aren’t that many developers that have that.” TRD

Real Estate Investors • Developers • Property Owners

Securitize is a software platform for issuing and managing digital securities

(security tokens) including dividends, distributions, and share buy-backs.

Why Tokenize Assets Like

Real Estate?

For more information visit www.securitize.ioOr call 415.413.8993

Securitize does not offer or sell security tokens and has not been licensed to do so by any financial services, monetary authority, or commission. Nothing herein constitutes an offer, distribution, solicitation, or marketing to of any security token. Securitize does not offer services or act as an exchange, transfer agent or escrow agent. Securitize does not (i) provide tax, legal, or regulatory advice; (ii) market, sell, or effect the sale of any security token; (iii) hold any cash, virtual currency, security token or other asset for or on behalf of any third party.

Be sure to stop by our booth at TRD’s South Florida Showcase in October!

Streamline Investor Relations

Reduce Admin Costs

Global Access to Investors

Increase Liquidity

The future of real estate management and investing.

Securitize’s innovative Digital Securities Protocol (DS Protocol) enables seamless, fully compliant trading across

multiple markets simultaneously.

C O N S T R U C T I O N

“If you don’t have a supertall building, you can’t be a ‘fi rst city.’ It has very little to do with if you’re building on bedrock or sand.” STEPHEN DESIMONE, DESIMONE CONSULTING ENGINEERS

Continued from page 45

A rendering of Sutton 58, which was originally planned to stand at 800 feet. A local group and Council member

have been fi ghting to block the project.

HALF PAGE VERTICAL4.625” x 13.125”no bleed necessary

66 THEREALDEAL.COM July 2018

Redfi n CEO Glenn Kelman lambast-ed the practice of allowing buyers’ agents to advertise next to other bro-

kers’ listings as a “fundamental misdirec-tion.”

During a workshop convened by the Fed-eral Trade Commission and Department of Justice last month, Kelman said the practice is a cash cow for listings portals, but that it’s confusing to consumers.

“There’s now a multibillion-[dollar] in-dustry based on misdirection,” Kelman said. “Redfi n makes money from this, Zil-low makes money from this, almost every website makes money from this.”

The comments come amid fi erce debate, in New York and across the country, about the ethical and legal implications of this type of advertising, particularly by Zillow Group, which owns the New York listings website

StreetEasy. The city’s residential brokerage community was up in arms when StreetEasy launched its Premier Agent advertising pro-gram last March, though many agents have since embraced it and spend thousands of dollars buying up leads next to other peo-ple’s exclusives.

And New York State is currently mulling the issue. The Real Deal reported last month that regulators could require portals to clearly disclose to users that when they click on the Premier Agents’ contact info they’re not being connected to the listing broker.

Meanwhile, according to Kelman, agents in markets such as Boston and San Francisco have been known to withhold listings from the local multiple listings services because they’re convinced the listings will be distributed to third-party websites that don’t feature their names prominently.

“This is not picking on one website

or another, it’s our website, too,” Kelman said. “We want [the MLS] to modernize the attribution system so the listing agent has an incentive to post listings immediately to every website. I don’t know that FTC or DOJ has a role in this.”

But Kathleen Philips, Zillow’s chief legal offi cer, said it would be impossible to elimi-nate consumer confusion.

“The way organized real estate works is confusing,” said Philips, who spoke before Kelman at the event, noting that consum-ers are especially confused by commissions.

Zillow, she said, has empowered con-sumers by providing access to market data that allows them to make more informed choices: “Was it more straightforward when[consumers] saw a yard sign? Yes. But would you trade the opportunity for a consumer to do all their research on their own and seek out this information to go back to that day? I wouldn’t.”

Philips said consumers on both sides of a real estate transaction want to be represent-ed by agents. “That being said, consumers

are doing a lot more of the work themselves up front,” she said. “There’s heavy competi-tion in the marketplace to represent those consumers.”

While there may be more sites displaying listings compared to 10 years ago, large com-panies benefi t most from consumer eyeballs, said Luke Glass, executive vice president of industry platforms at Realtor.com.

Kelman said he views advertising on listing portals as a “tax” that has to be paid by agents and brokers.

“Every dollar we have to pay the portal is a dollar we have to charge the consumer,” he said.

For his part, FTC Chairman Joseph Simons said that even if changes in the brokerage industry are driven by consumer demand, it’s imperative to understand the marketplace dynamics.

“If necessary, we may need to recalibrate our expectations about what’s important to consumers and, in turn, allow that to shape both our consumer protection, and competition efforts,” he said. TRD

The paid ad backlash Redfi n CEO lashes out at StreetEasy’s Premier Agent and other pay-to-play broker marketing programs

BY E.B. SOLOMONT

“There’s now a multibillion-[dollar] industry based on misdirection. Redfi n makes money from this, Zillow makes money from this, almost every website makes money from this.” GLENN KELMAN, REDFIN

Industry Leaders for:

BUILDING OWNERS, DEVELOPERS & CONTRACTORS

A 30 YEAR REPUTATION FOR EXCELLENCE, RELIABILITY & PERSONALIZED SERVICE

Apartment & Commercial Buildings, Construction and Complete Risk Management Services

NEW YORK 212-452-1600

MAX A. OSA, MANAGING PARTNER [email protected]

NEW JERSEY 201-569-4160

Glenn Kelman Redfi n CEO

Kathleen Philips Zillow

Chief Legal Offi cer

HALF PAGE HORIZONAL9.5” x 6.75”no beed necessary

N A S S I T E A M

D A N N Y N A S S I . C O M

DANNY NASSILICENSED ASSOCIATE REAL ESTATE [email protected] | 917.239.1124

MATTHEW MELINGER

CARISA DIMINO

FARBOD YAR

M E E T T H E T E A M

“Danny is a truly a professional Licensed Associate Real Estate Broker, who understands his clients’ goals and provides clear, concise and accurate information

to guide their decision-making process.

It is a pleasure working with his team.

S A Y H E L L O T O T H E

T H E B E S T + N E W E S T G O - T O T E A M ,

A L L T H E D E V E L O P E R S A R E R AV I N G A B O U T

B A C K T O T O P

2019 · our readers 30% make $150k+ per year 75% of audience are 18-54 years old 90% more likely to...

Documents