The Real Deal

In honor of the SABEW Best in Business award received by TRD’s Sheridan Wall, Katherine Kallergis and Ellen Cranley for their reporting on the allegations against and fallout around the Alexander brothers, our founder Amir Korangy put on his chef hat to cook a celebratory lunch for the whole office at our NYC HQ. Bon appetit!

The Trump administration's anti-DEI crusade has hit real estate. After President Trump’s DEI executive orders, language related to diversity, equity and inclusion disappeared from Securities and Exchange Commission filings from more than a dozen publicly traded firms, according to an analysis by TRD senior reporter Kathryn Brenzel. Read the full report: https://lnkd.in/ezKBAaUZ

Fallout from a strip mall mogul’s scheme to manipulate WeWork stock, an agent ensnared in a plot to steal homes and more updates from the mortgage fraud scam rocking commercial lending, these are the real estate crime stories dominating industry headlines this week. Catch up on the news here: https://bit.ly/4kJAZXx

Barry Sternlicht’s Starwood Capital Group is attempting to get out ahead of a $577 million loan that could mean trouble in a couple of years.

In this week’s roundup, we take a deeper look into the late Mendel Steiner’s properties. Plus, Ryan Serhant takes his brokerage out west, Brookfield takes a hit on its 34th Street office building and Los Angeles Mayor Karen Bass wants to suspend Measure ULA. These stories and more below.

President Donald Trump said he wanted strings attached to billions of dollars in federal aid to Los Angeles County, where firestorms this year torched 16,000 homes and businesses. Are Republicans in Congress still on his side?

South Florida’s office market has reversed its good fortune, prompting some developers to reevaluate planned projects. Tap the link for a TRD Data map of the region's canceled or delayed office projects. ?: Lidia D.

It's our birthday ??The Real Deal turns 22 this month! Our founder Amir Korangy celebrated with a Times Square takeover highlighting our award-winning real estate journalism. Subscribe here for unlimited access to TRD: https://lnkd.in/enxwJgkQ We're committed to covering every facet of the industry for millions of readers coast to coast. And the TRD team is excited to continue bringing you all-access data, exclusive events, and cutting-edge industry insights and analyses in the many years to come. Readers, what you do want to see from TRD? Let the team know in the comments!

Vlad Doronin's Aman Group wants to expand its global reach. It just needs a couple billion to do so. ?: Holden Walter-Warner

Big is the Ghermezian style. The family’s company, Triple Five Group, rescued the American Dream megamall in New Jersey from near-failure and bankruptcy, and despite plenty of skepticism, the immigrant Persian-Jewish family “supersized everything: the roller coasters, the two-story Hermès store, the enclosed surfing wave pool, the topiaries in the luxury wing, the entry fees.” (There’s also an indoor ski slope.) Even after the Ghermezians finally got the place open in 2019, Covid closures, financial problems and lawsuits haunted the shopping and entertainment behemoth, which is the second biggest mall in the U.S. (after the Mall of America in Minneapolis, which the Ghermezians also own). But bills are coming due, and sales probably need to accelerate for one of the most dramatic bets in retail to pay off. Will one of the most dramatic bets in retail finally pay off? Elizabeth Cryan explores how the Ghermezian family are making good on the American Dream. Read her report: https://lnkd.in/e9azyeR3