The Real Deal - New York Real Estate News

Window of opportunity is opening up in Australia’s housing markets

Posted: 23 Jun 2018 05:15 PM PDT

After foreign buyers were laden down by new taxes and rules to deter them from Australia, new controls imposed on lenders are providing an unexpected opportunity for them to break into Australian’s hottest housing markets after all. The mix of factors means that “vendors that are in the market at the moment are those that have to sell,” explained agent Catherine Cashmore of Anderson Cashmore Real Estate Advocates to Mansion Global. Though taxes for foreign […]

Hurricane-proof homes exist. Here’s how much they cost to build

Posted: 23 Jun 2018 04:38 PM PDT

Building experts want home buyers and developers to know that it is possible to build more resilient homes that are likely to withstand extreme weather. Though most U.S. homes are not currently built to endure such extreme situations as hurricanes, flooding or wildfires, the technology is getting there, according to experts cited by Bloomberg. According to them, buyers and owners just need to know to ask for those features. For example, a more secure roof–unlikely […]

Warehouse collapses; 9,000 barrels of whiskey spill

Posted: 23 Jun 2018 03:40 PM PDT

A warehouse at a whiskey distillery collapsed Friday damaging up to half of the barrels on site. The warehouse was built in the 1940s, while the complex, the Barton 1792 Distillery, was founded in 1879, according to Bloomberg. “We are assessing how many of the impacted barrels can be recovered,” said spokeswoman Amy Preske to Bloomberg. A total of 18,000 were stored in the facility. “A mix of various distilled products at various ages were […]

How Bernie Madoff’s properties have fared since being sold off 10 years ago

Posted: 23 Jun 2018 03:01 PM PDT

Since Bernie Madoff went to jail about nine years ago after confessing to running an estimated $50 billion Ponzi scheme, his former homes have only risen in value. But their connection to Madoff has little do with it, according to the Wall Street Journal. “For every example that can be provided for someone that paid a premium, you can provide one or more examples of a discount,” appraiser Jonathan Miller told the Journal. Apparently, extensive […]

Southeast Asia’s tallest tower ensnared in 1MDB scandal gets bailout

Posted: 23 Jun 2018 12:52 PM PDT

The tallest tower in Southeast Asia is embroiled in a high stakes game of hide-and-seek. The state fund that financed the 1,614-foot tower is missing $4.5 billion prompting an investigation by the Malaysia government, according to the Wall Street Journal. The tower, Exchange 106, in Kuala Lumpur is nearly finished so the government is footing the remaining bill of about $700 million in order to complete the project. “We cannot bear to see the eyesore […]

Menlo Park landlords are jacking up rents on properties near Facebook

Posted: 23 Jun 2018 10:26 AM PDT

From TRD Los Angeles: Facebook’s real life community in Menlo Park is less than happy with the virtual social network. Landlords that own properties less than a mile from Facebook’s offices have hit long-time tenants with hundreds of dollars in rent increases–a practice they say is becoming increasing common in the neighborhood–effectively forcing many to move out of the area, according the Guardian. Without rent controls or other legal protections, tenants who initially organized to […]

Two for one: Buy a condo, get a Tesla car

Posted: 23 Jun 2018 08:47 AM PDT

From TRD Chicago: Magellan Development Group is taking buyer incentives to a new level. At Studio Gang’s under-construction Vista Tower, scheduled to open in 2019, residents of the skyscraper’s 400 apartments will have access to a car-sharing program stocked with the latest Tesla models, as Inman reports. To book a vehicle, residents who opt-in to the service will use a mobile app. “The car-share program provides an alternative for residents to travel beyond the local […]

Here’s the most surprising place for a construction boom

Posted: 23 Jun 2018 06:13 AM PDT

Despite inflation running over 20,000 percent, money is still working in Venezuela, albeit in an unexpected way. With a lack of alternatives thanks to cash and currency-exchange controls, the country’s wealthy are turning to investing in real estate and funding a spate of new ground-up construction in Caracas, according to Bloomberg. “Investors are wisely deciding to invest in brick,” developer Alfred Scheer of Vantage Latin America told Bloomberg. “We trust that a political change will […]