The Real Deal - New York Real Estate News

America’s 10 most liveable cities, according to The Economist ranking

Posted: 19 Aug 2018 01:00 PM PDT

Though American cities didn’t fare well in The Economist’s annual global ranking, there were a handful of stars. Known as The Global Liveability Index, the publication’s ranking report is published every year based on a number of factors like education, healthcare, stability and infrastructure. In the 2018 report, only 10 U.S. cities made it into the top 50–and none of those cities made it into the world’s top 20, as CNBC reported. But the ranking […]

Under supply of senior housing causes 10-year wait lists in San Fran

Posted: 19 Aug 2018 12:00 PM PDT

The housing crisis is hitting seniors and developers hard in San Francisco underscoring the need for age-restricted affordable housing. For one recent development in Hayward, which had 50 units available for seniors, received more than 4,500 applications from residents aged 60 and over, and had a physical line-up that began forming as early as 4 a.m., according to Bisnow. The surging demand has created a 10-year wait list for dedicated senior housing and the situation […]

How to invest in real estate like a Russian oligarch

Posted: 19 Aug 2018 11:00 AM PDT

One of Russia’s most in-demand residential enclaves is called the Golden Triangle in St. Petersburg and now is the time to get in, local real estate agents say. “Because some of the buyers hold part of their funds in foreign currency, the purchase of homes in Russia has become more affordable compared to the same period a year ago,” Knight Frank agent Ekaterina Nemchenko told Mansion Global. According to her, investors typically range from oligarchs […]

Wolf of Wall Street’s Long Island mansion is back on the market after price slash

Posted: 19 Aug 2018 10:00 AM PDT

Jordan Belfort’s former home in Glen Head is back on the market, this time asking for $2.89 million. The five-bedroom house has a home gym, outdoor pool and racquetball court. It was owned by Belfort, aka the Wolf of Wall Street who was played by Leonardo DiCaprio in Martin Scorsese’s 2013 Hollywood movie, and was a backdrop to both the fallen broker’s memoir and later Scorsese’s movie. The New York Post reported the current price […]

One of Staten Island’s most luxurious (and pricey) homes caught in divorce battle

Posted: 19 Aug 2018 09:00 AM PDT

A Todt Hill mansion in one of Staten Island’s wealthiest neighborhoods is at the center of a divorce that could become the borough’s most costly split. The couple, Dean and Robyn Billing, are going through a contested breakup that is shaping up to be “a nasty, contentious” process, as Robyn Billing’s lawyer told the New York Post, with both parties are disputing how assets should be divided. Dean Billing is accused of being behind on […]

How to tap into the next generation of ultra-wealthy investors: Finance 101 and parties

Posted: 19 Aug 2018 08:00 AM PDT

Why go to business school if you can get in to young investor programs hosted by UBS, Citi Private Bank, Morgan Stanley and Credit Suisse? There is a catch: the banks’ young investor programs–sometimes called Next Gen programs–are only open to ultra-wealthy youth who will one day be at the helm of their vast family fortunes, aka the banks’ best clients, as the South China Morning Post reports. The median age of attendees is 27, […]

Condo glut is to blame for NYC’s weakened luxury market: report

Posted: 19 Aug 2018 07:00 AM PDT

The oversupply of high-end condos in Manhattan, Brooklyn and Queens is pulling the luxury market down. A report from Stribling & Associates for the first half of 2018 noted that the high-end condo market logged a nearly 40 percent decrease in transactions, according to Mansion Global. “This was the first time in the past six years the condo market saw a reduction in sales,” Stribling’s Garrett Derderian wrote in the report. The brokerage’s data covers […]

Property group suing R. Kelly to repair his “ransacked” Georgia rental homes

Posted: 19 Aug 2018 06:00 AM PDT

R. Kelly’s two rental homes in Georgia were “ransacked” during the singer’s tenancy and now he’s on the hook for damages. His 23-room mansion, which rents for $10,000 per month, had “extensive damage” which included floors, carpets and electrical wiring that had to be redone before SB Property Management could rent the property again, according to the New York Post. There was also a number of items, including a stove, light fixtures, ceiling fans and […]