Richard Perez-Pena of the New York Times writes about how the New York Observer is about to launch a commercial real estate paper in the city called The Commercial Observer. The first issue will be Sept. 15.
Perez-Pena writes, “The Commercial Observer, with 24 to 28 pages an issue, will be delivered free to 10,000 people in the cityâ€™s real estate business. The new paper will sell subscriptions for $240 a year, and it may eventually charge industry insiders, as well, Mr. Kusher said, but ‘what I care about most is that the right people are getting it.’ There will be no newsstand sales.
“The paper will have plenty of competition from publications like The Real Deal, a monthly magazine, and Real Estate Weekly, which both cover the regionâ€™s commercial and residential real estate markets; and from more mainstream publications like Crainâ€™s New York Business, a weekly, and the cityâ€™s daily newspapers.
“Observer executives decided that they would fare best with a narrower subject area, commercial property, and avoid cannibalizing the gossipy, popular and Manhattan-centric residential real estate coverage The Observer is known for.”
Read more here.