The Real Deal

The market's changing so fast, how do you keep up with it? Find out at our NYC #TRDForum, May 7th at the Metropolitan Pavilion. Secure your spot: https://lnkd.in/e7K5BftG One day with us will give you the intel you need to stay on top of the dynamic shifts happening right now. You'll hear from the top principals in CRE, the most active developers, star brokers at the top of their game (whether they're on TV or not), and more VIPs who will be there with insights that will ensure you walk out smarter, sharper, and on your way to your next deal. Can you afford to miss out on all this, plus 3,000 connections who could lead to big opportunities? Not in this market! ⭐️ Featured attendees: CBRE's Mary Ann Tighe, Forward Party's Andrew Yang, Landau Properties' Jonathan Landau, Douglas Elliman Real Estate's Eleonora Srugo, The Peebles Corporation®'s Don Peebles

The Moinians and the Katzes have spent 15 years quarreling over an apartment building in Manhattan's Financial District, a dispute likened to one of American folklore’s most infamous family feuds. Now the battle between FiDi’s Hatfields and McCoys is ramping up to a spectacular close.⁠ ⁠ Joseph Moinian and Gary Katz’s family have been battling for years over 90 Washington Street, a 1970s-era brick office building that Moinian and his brother took over in the wake of 9/11 via a hundred-million-dollar ground lease and converted into 396 apartments. After the Moinians allegedly failed to complete façade repairs required after the city issued a violation in 2011, the Katzes, which own the ground under the building and leases the property to the Moinians, argued they failed to properly fix safety issues with the brick façade and violated their lease.⁠ ⁠ Since then, Moinian has filed multiple cases to prevent Katz from terminating the ground lease. But a nine-day trial last year ended with the court finding Moinian indeed violated the terms. Last month, a judge appointed a receiver to take over the property and prepare it for a foreclosure sale.⁠ ⁠ Rich Bockmann goes inside the façade feud: https://bit.ly/3FW9mdL

SBE founder Sam Nazarian's resume call-outs include restaurant trendsetter, nightclub king, hotel mogul and ghost kitchen entrepreneur, to name a few. Add luxury longevity advocate to the list. Nazarian's latest endeavor, The Estate by SBE, in partnership with Tony Robbins, Marc Anthony and investor Richard Attias, is creating a global network of luxury hotels and longevity centers. Nazarian joined TRD founder Amir Korangy at our NYC HQ last night for a wide-ranging discussion that touched on his yearslong health journey that inspired his pivot into the wellness space, the legacy of hoteliers Ian Schrager and André Balazs and the strategies that helped him build global lifestyle hospitality brand sbe Lifestyle Hospitality. Click here to view the photo gallery from the event: https://lnkd.in/eeABFQ7V 📸: Paul Dilakian Powered by: Bosch Thermador Gaggenau

The rivalry between Eastdil Secured and Newmark is heating up. In a new lawsuit, Eastdil alleges that members of its West Coast #multifamily team that bolted for the competitor last month took a treasure trove of information on their way out the door — and even poached an active deal the company was working on. The allegations ramp up the tensions between Eastdil and Newmark’s capital markets group. Read Rich Bockmann's story on the battle to become the top CRE brokerage at the link below.

TRD's #BuildingLuxury event was the place to be in D.C., as luxury appliance leader BSH hosted a panel discussion and networking event for the capital city's top real estate players. TRD editor-in-chief & CEO Stuart Elliott moderated a conversation with Brook Rose Development's Brook Rose, Urban Pace's Clint Mann and EastBanc's PHILIPPE LANIER about the new wealth coming to Washington and the impact that tariffs will have on D.C.'s development pipeline. Attendees also enjoyed a canapé- and cocktail-fueled networking hour, cooking demonstration and a firsthand look at the latest cutting-edge appliance technology from across the Bosch Thermador and Gaggenau lines. Tap here for a full recap of the evening's industry insights: https://lnkd.in/ebBG9Evf Inquire to attend future events in the #BuildingLuxury series: https://lnkd.in/eJMyMEbF ⭐ Andrew John Karcich John McDonough Ross Fox 📸: Paul Dilakian

Star agent Josh Flagg named ex-Elliman Western Region CEO Stephen Kotler named in his suit alleging someone "access[ed] private and confidential information" stored on his computer network or system. ✍: Kari Hamanaka

During a recent text messaging exchange with TRD's Francisco Alvarado, Grant Cardone played coy about his political aspirations. Rumors have been swirling that he's considering a run for governor of California, where the crowdfunding multifamily syndicator owns a beachfront home in Malibu damaged during the wildfires earlier this year. But instead of his potential bid for California’s top political post, Cardone was more keen to talk deals. His eponymous firm, Cardone Capital has reportedly raised $88 million in recent months for a fund that bought $15 million in Bitcoin and paid $73 million for a Central Florida apartment project. While some of his peers are finding it difficult to raise equity due to a lagging multifamily market and uncertainty about the U.S. economy, Cardone says, "I’m thriving.” Alvarado has the full story on Cardone's crypto and multifamily activity — and what Cardone had to say about California's upcoming governor race. Read his full report: https://lnkd.in/eCYJ-94b

In this week’s roundup, we explain why Floyd “Money” Mayweather’s major real estate deals are real, even if they never hit records. Plus, a celeb-broker names his former boss in a lawsuit, infamous former development exec Nir Meir finally gets released from Rikers, an “exodus” of agents at BHHS in Chicago and more.

Floyd Mayweather, Jr. turned industry heads with a record-scratch of a deal: $402 million for Black Spruce Management's 1,000 affordable units in Upper Manhattan. But after a Business Insider report questioned whether the deal had happened at all, TRD's Suzannah Cavanaugh analyzed the fine print, and found the heavyweight champ leveraged a tax cut and new law to make it happen.

After nearly a year of debate, the National Association of REALTORS® took a stance on its #ClearCooperationPolicy this week by adding a new exemption to the policy. The newest tweaks, by the looks of it, have managed to soothe none of NAR’s largest agitators, and in some cases, add to their frustrations and confusion. Read here as Jacob Indursky breaks down what's changed — and what's next: