The Real Deal - New York Real Estate News

Malaysia bans foreign buyers at $100B Chinese-backed development

Posted: 01 Sep 2018 01:00 PM PDT

Malaysia is banning foreign buyers from purchasing homes in a new $100 billion development, the latest in a string of real estate clampdowns across the globe. Malaysian Prime Minister Mahathir Mohamad on Monday said foreigners would be blocked from buying homes at Forest City – a huge residential complex being built by Chinese developer Country Garden Holdings Co. on a group of artificial islands in the city of Johor, Bloomberg News reported. Mahathir also said […]

Egypt ready to move ahead with record-breaking Zaha Hadid skyscraper

Posted: 01 Sep 2018 12:00 PM PDT

Egyptian developer Living in Interiors is finally ready to move forward with its Cairo skyscraper designed by late starchitect Zaha Hadid, which will be Africa’s tallest building upon completion. Working alongside the Egyptian government, the developer is breaking ground on the 70-story residential and hotel Nile Tower, Forbes reported. Hadid, the Iraqi-British architect who became the first female to win the Pritzker Prize, designed the tower in 2007. The Egyptian government put the project on […]

The Miami broker who extorted “The Jills” exposed an industry secret: MLS manipulation is widespread

Posted: 01 Sep 2018 11:00 AM PDT

When One Sotheby’s agent Kevin Tomlinson was charged with extorting Coldwell Banker star brokers “the Jills” over manipulating the Multiple Listing Service, it exposed what many agents claim is a common practice in the industry. This one, however, was particularly egregious, market pros said. In the case of Jill Eber and Jill Hertzberg, Tomlinson found they had manipulated the data by hiding homes with listings older than six months. That inflated the Jills’ performance in […]

The Real Deal’s September issue is now available to our subscribers

Posted: 01 Sep 2018 10:30 AM PDT

The Real Deal’s biggest issue of the year is live, and digital subscribers to TRD are getting the first look at what’s inside. Subscribers now have access to stories including: – A deep dive into Compass, which just launched its commercial division – A behind-the-scenes look at the AG’s Real Estate Finance Bureau master plan – Most major real estate is owned by LLCs. Does it matter? Subscribe now to stay one step ahead of […]

Ross Dress for Less inks huge warehouse lease in California

Posted: 01 Sep 2018 10:00 AM PDT

Discount department-store chain Ross Stores signed a huge warehouse lease in California. The retailer signed a lease for a 1 million-square-foot distribution center at the Wonderful Industrial Park just north Bakersfield in California’s central valley, landlord Wonderful Real Estate announced. Ross owns a 1.7 million-square-foot distribution center at the industrial park. Wonderful Real Estate president Joe Vargas said Ross and other tenants – which include Target, MRC Global and Formica – enjoy “ready access to […]

Aby Rosen opens Tel Aviv hotel

Posted: 01 Sep 2018 09:00 AM PDT

Aby Rosen recently opened his long-in-the-works Tel Aviv hotel. The RFR Realty chief converted a 19th-century former hospital he bought in the old city of Jaffa 13 years ago into what he sees as an oasis in the fast-paced city. “Israel is very hectic,” he told the Wall Street Journal. “The goal is to take the speed out.” Rosen fell in love with the building’s architectural features: columns, arched ceilings and stained-glass windows. But work […]

Undercover luxury homes are all the rage

Posted: 01 Sep 2018 08:00 AM PDT

Undercover luxury homes – properties with run-of-the-mill exteriors that belie showiness inside – are all the rage now. “It’s the end of the statement house,” Tineke Triggs, an interior designer in San Francisco, told the Wall Street Journal. As the real estate market recovered n recent years, homeowners in gentrifying urban areas, historic districts and traditional suburbs have been opting for a less-is-more take to exteriors, according to the Journal. Architect Dan Brunn kept the […]

This tech billionaire is taking his battle over a California beach to the Supreme Court just to make a point about property rights

Posted: 01 Sep 2018 07:00 AM PDT

Media mogul David Geffen was Califorina’s beach villain du jour in the early 2000s when he tried to block public access to the beach in front of his Malibu home. But as Silicon Valley’s overtaken Hollywood as the zeitgeist’s center of power and influence, it’s now Sun Microsystems cofounder Vinod Khosla who’s waging a battle over the beach. Khosla – over seemingly nothing more than wanting to make a point about private property rights – […]