The Real Deal’s September issue is live online, and hitting doorsteps soon.
So, who’s afraid of the fall?
In real estate, quite a few people. In the latest magazine, we lay out why real estate lenders are in retreat. Our NYC lenders ranking shows a sharp drop-off in financing deals in the last year. Meanwhile, multifamily’s ongoing distress could put preferred lender Arbor Realty Trust into hot water. Add that to the historical trends — the Great Recession kicked off in the fall, 1987’s Black Monday was in October, and some are already warning of a “Red October” for multifamily — and you’ll find plenty of real estate pros stressing this month.
For other sectors, things are starting to look up. While our residential ranking for San Francisco shows a slowing in the sales market, in some niches the much-maligned city is actually seeing bidding wars for properties. Yes – bidding wars.
Plus, while retail has spent years as real estate’s least-loved child, prices seem to have bottomed out. But retailer extraordinaire Mickey Drexler, who’s our Closing interview and cover star this month, said there’s still room to cut the fat: “I don’t want to insult anyone, but I always say to myself, ‘What would one do if this company went away? Would you miss it?’” Check that interview out for more on the impact of good marketing and the death of bad malls.
Plus, we checked out how brokerages are using AI to find top talent (as we’re gearing up for our own AI event in November); stepped inside Texas’ favorite grocery chain; and broke down New York City’s third-party transfer program (and all its many problems).
Enjoy the issue.