By Gus Delaporte 5/01 1:30pm

New Developments

harlemmlb_3

Eichner Plans Comeback with Harlem Park Site

With a number of projects in the pipeline, Bruce Eichner is planning a dramatic comeback to New York real estate with an 80/20 residential project at the Harlem Park site he agreed to acquire last week.

Mr. Eichner is in the midst of an architectural competition for the planned development at 1800 Park Avenue and 125th Street, The Commercial Observer has learned.

“He is going to do something creative with the building,” Geoffrey Newman, senior managing director at Newmark Grubb Knight Frank, said of the project. “For a rental perspective, I think it’s going to be a spectacular building.” Read More

By Carl Gaines 12/06/12 7:30am

Mortgage Observer

Jay Neveloff.

Q&A: Jay Neveloff, Kramer Levin

The Mortgage Observer spoke to Kramer Levin partner Jay Neveloff this month. Mr. Neveloff, a 24-year veteran at the firm, told us what he’s hearing from his wide range of clients following November’s elections and what many of those clients are busiest doing with the end of the year fast approaching. Read More

By Al Barbarino 11/13/12 7:00am

Cover Story

WEB_COVER

Reaching for the Sun: Is It Possible to Own Too Much Real Estate?

When the credit crisis hit and the real estate market all but collapsed, news of disgraced developers became commonplace, their tales more often than not layered with intrigue.

Take Kent Swig, who, after being divorced by his wife, filed an affidavit in May responding to a lawsuit filed by his ex-father-in-law, industry luminary Harry Macklowe, arguing that Mr. Macklowe embarked on a “vendetta” aimed at “starving” him of every last penny.

But as the downfalls of real estate tycoons like Mr. Macklowe, Shaya Boymelgreen, Bruce Eichner and Larry Gluck stack up like so many new developments across Manhattan’s skyline, analysts and the city’s landlords themselves have begun to wonder aloud if there’s a limit to how much real estate can be accumulated.

“A developer’s function is to develop property, and sometimes they develop and develop until they can’t develop anymore,” said appraiser Jonathan Miller of Miller Samuel Inc., a real estate appraisal and consulting firm based in New York City. “Where people fell short was that the market was more powerful than them … the market is brutal, and it has no compassion.” Read More

By Matt Chaban 1/03/11 10:44pm

Machers

Developers! They’re Not Like Us

Ever since the credit crisis hit and the real estate market collapsed, the news has been filled with disgraced developers–including in these very pages. Yet for every plucked chicken, there seems to be an equal number of phoenixes who, year after year, decade after decade, return from the construction graveyard to build again. (The Observer, Read More