{"id":303180,"date":"2016-04-20T11:00:16","date_gmt":"2016-04-20T15:00:16","guid":{"rendered":"http:\/\/commercialobserver.com\/?p=303180"},"modified":"2017-01-06T15:37:15","modified_gmt":"2017-01-06T20:37:15","slug":"power-100-3","status":"publish","type":"post","link":"https:\/\/commercialobserver.com\/2016\/04\/power-100-3\/","title":{"rendered":"Power 100"},"content":{"rendered":"

L<\/span>ast week, as we were conducting the final interviews for Power 100, we got on the phone with one of the city\u2019s bigwigs to ask him what he had been up to over the last year. He used the opportunity to list every grievance he held against the names on last year\u2019s Power 100\u2014one by one.<\/span><\/p>\n

The call lasted 45 minutes, approximately half an hour of it devoted to trashing last year\u2019s rankings.<\/span><\/p>\n

One name we put in the 20s was way too high for such a small-timer. Another was a terrific broker, but how powerful<\/i> is a broker, really? One name couldn\u2019t really be considered a great power broker in New York\u2014New Jersey, maybe. And, dammit, why was our interviewee so frickin\u2019 low?<\/span><\/p>\n

In exasperation our friend finally barked, \u201cI don\u2019t know how<\/i> you define power!\u201d<\/span><\/p>\n

Well, we replied, that\u2019s the $64,000 question.<\/span><\/p>\n

As we embarked on this year\u2019s Power 100, the first thing we asked ourselves was what was the story of the last year?<\/i><\/span><\/p>\n

Certainly, talking to any broker or property owner about the state of the market, you sense a certain hesitation that you didn\u2019t get last year. The market is softening, they say. The crazy overheated hunger for $90 million condominium units is finally cooling. Cap rates are too low. The loss of 421a makes it impossible to build any new construction.<\/span><\/p>\n

All fair arguments.<\/span><\/p>\n

But despite all of this, one couldn\u2019t help but notice a penchant for the big, crazy, smash-all-records deals.<\/span><\/p>\n

The biggest of these deals was the $5.46 billion sale of Stuyvesant Town-Peter Cooper Village to the Blackstone Group and Ivanho\u00e9 Cambridge.<\/span><\/p>\n

However, that was just two properties trading hands. Blackstone made another massive bet when it, and Wells Fargo, purchased General Electric\u2019s commercial real estate loan portfolio for $23 billion.<\/span><\/p>\n

Blackstone\u2019s global head of real estate, Jonathan Gray, certainly hasn\u2019t shrunk from a challenge. If anything, he has stepped up and set the tone. It was the reason we ranked him No. 1 this year.<\/span><\/p>\n

Across the street from Hudson Yards in a building that Related Companies uses as office space is a countdown clock to its city-within-a-city. Every day this visionary project gets closer to reality. Stephen M. Ross, Jeff T. Blau and Bruce A. Beal, Jr. have certainly earned a No. 2 place on our list.<\/span><\/p>\n

In a normal year, SL Green Realty Corp.\u2019s purchase of 11 Madison Avenue for $2.29 billion from the Sapir Organization and CIM Group would have been the deal of the year. But we\u2019re not sure if this was even the most significant thing SL Green has done. It\u2019s also working on its big, visionary plan for One Vanderbilt, the 1.6-million-square-foot tower across from Grand Central Terminal. It seems only right that SL Green\u2019s Marc Holliday and Andrew Mathias should get the No. 3 spot.<\/span><\/p>\n

This year\u2019s list is definitely somewhat skewed to the people who made big bets on a grand vision.<\/span><\/p>\n

Sometimes we\u2019re not sure how\u2014or even if\u2014the vision will be fully realized. Hopes rose last year when Bjarke Ingels unveiled his design for 2 World Trade Center, and Silverstein Properties announced that it had secured News Corp. and 21st Century Fox as an anchor tenant, only to be deflated when Rupert Murdoch announced that they were pulling out of the deal. But Silverstein Properties head Larry Silverstein is left with a pretty spectacular design. And he\u2019s on the hunt for a golden tenant who can take several hundred thousand square feet of space.<\/span><\/p>\n

Some names on this list have the power to build cities. Some have the power to persuade tenants to move to some unheralded corner of Gotham. A few have the power to shape municipal or state budgets. But they all share a grand vision of real estate and the city.<\/span><\/p>\n

It is a powerful vision.\u2014Max Gross<\/i><\/span><\/p>\n

You’re on the List…<\/strong><\/a><\/p>\n

Who’s Moved Up This Year’s Power 100<\/strong><\/a><\/p>\n

Stumped by Trump<\/strong><\/a><\/p>\n

Power Politics: The Top Dogs of Government\u2014As Far As Real Estate Is Concerned<\/strong><\/span><\/strong><\/a><\/p>\n

Power Lawyers: The MVPs with a JD<\/a>\u00a0<\/strong><\/p>\n

Power Designers That Are Reshaping NYC<\/strong><\/a><\/p>\n

Power Emeritus: Richard Anderson of the New York Building Congress<\/strong><\/a><\/p>\n

Commercial Observer’s Dubious Player of the Year Award Goes to…<\/strong><\/a><\/p>\n

The Power Players That We Lost<\/a>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, as we were conducting the final interviews for Power 100, we got on the phone with one of the city\u2019s bigwigs to ask him what he had been up to over the last year. He used the opportunity to list every grievance he held against the names on last year\u2019s Power 100\u2014one by 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