The Real Deal - New York Real Estate News

Retailers dip their toes with short-term deals

Posted: 02 Sep 2018 12:00 PM PDT

With so much turmoil in the retail market, tenants are increasingly looking to do short-term deals. Figures from CBRE show that since 2016, the number of retail leases inked for shorter than three years has increased dramatically, the Wall Street Journal reported. Retailers are using the shorter terms to test out new locations and see where rents will go. “The obvious positive on the tenant side is that they can test the market,” CBRE research […]

Millennials are buying homes with their pets in mind

Posted: 02 Sep 2018 11:00 AM PDT

Millennials love their pets so much that accommodating their four-legged friends’ needs is a top priority when buying a home. According to the American Pet Products Association, 73 percent of millennials own a pet, CNBC reported. But when it comes to millennials who bought a home this year, 89 percent owns a pet. Rental buildings have long catered to pet owners with dog runs and pet salons, and millennials are looking for the same kinds […]

Cities are turning grain silos into hot destinations

Posted: 02 Sep 2018 10:00 AM PDT

Across the United States, there are more than 9,400 grain storage facilities still standing, not counting those on farms. And cities are now looking to repurpose the hulking concrete structures from remnants of agricultural pasts into vibrant destinations, the Wall Street Journal reported. “There are plenty of buildings in the world that are taller, but when you’re up against or inside [a silo], it seems bigger than life,” said David Tarbet, a historian of grain […]

International fugitive accused in $2B bank scam may have hid money on Central Park South

Posted: 02 Sep 2018 09:00 AM PDT

Indian diamond mogul Nirav Modi, accused of orchestrating the $2 billion Punjab National Bank scam, may have used his New York City apartment to launder money. Modi, a fugitive on the run from Indian authorities and Interpol, is accused of defrauding the state-run bank by using phony guarantees to raise foreign credit. Shortly before fraud charges were brought in India, Modi transferred an apartment he owns at the Essex House on Central Park South from […]

Atlanta’s version of the High Line sparks gentrification fears

Posted: 02 Sep 2018 08:00 AM PDT

Atlanta is struggling with an affordable-housing problem around its version of the High Line. The BeltLine – a 22-mile trail looping around the city following former rail corridors – has largely become the focal point of the gentrification debate in the city, the Wall Street Journal reported. The first section opened on the Eastside of the city six years ago, bringing with it new condominiums, apartment buildings, restaurants and stores. But after the city announced […]

Long Island mansion once owned by Phillipines dictator hits the auction block

Posted: 02 Sep 2018 07:00 AM PDT

A Long Island mansion once owned by late Philippines dictator Ferdinand Marcos is hitting the auction block with a starting bid of $2.1 million. The 10,000-square-foot, 14-bedroom home at 16 Sedgemere Road in Suffolk County once served as the summer home for Marcos and his shoe-loving wife Imelda, the New York Post reported. Stanford White-designed home was appraised last year at $4.4 million. Now, Maltz Auctions is conducting a pre-foreclosure auction Sept. 13. Marcos — […]