Talking Manhattan

Today, Noah and John sit down with Louis Adler and Robert Rahmanian of REAL New York to break down what’s really happening in the Manhattan market right now. From a rental market that’s critically undersupplied to the ripple effects of 485-x replacing 421-a, the guys explain why new development pipelines are thinning — and why rents likely aren’t coming down anytime soon. They dive into office-to-residential conversions, the future of Midtown and FiDi, amenity wars in luxury rentals, and the widening gap between renting and buying. Plus, they share how they built a 2,000+ unit pipeline, why conversions are the “flavor of the month,” and the one piece of advice they’d give their younger selves. If you want boots-on-the-ground intel from operators in the trenches, this is it! ==== ✅ Stay Connected With Us: