The Real Deal - New York Real Estate News

How New York housing prices measure up against the world

Posted: 07 Oct 2018 01:00 PM PDT

In some respects, New York always lives up to expectations and this year is no exception; once again, housing in the Big Apple is among the world’s costliest. The accolade comes from Bloomberg’s annual Global City Housing Cost Index. But, while the top six cities hold few surprises, there were some shocking results outside of the usual suspects in the upper tier. Two of the most notable results: Dubai became shockingly affordable. Where housing costs […]

Where to stay: Once-in-a-lifetime Airbnb or the most expensive hotel room in the US?

Posted: 07 Oct 2018 12:00 PM PDT

Which would you choose between a camper van parked in Soho or The Mark hotel’s lofty 10,000-square-foot penthouse? The van is only for one guest and it’s got no running water, so bathroom breaks mean facing the elements or street life, but the nightly rate is a competitive $69. The Airbnb listing, as cited by the Gothamist, claims to be the right vehicle to “experience New York economically” and gives some advice to the uninitiated […]

Ian Schrager says New York “really isn’t” center of the world anymore

Posted: 07 Oct 2018 11:00 AM PDT

In the 1970s, hotelier and real estate developer Ian Schrager was a different person. He played fast and loose with the rules. In short order: Schrager had family ties to real life gangsters; he co-founded the legendary gay club Studio 54 with Steve Rubell; hired infamous mob lawyer Ray Cohn to represent them when they ran into trouble with the law; and, finally, he ended up in jail for tax evasion. (Obama later pardoned him.) […]

WeWork’s losses in Europe tripled last year

Posted: 07 Oct 2018 10:00 AM PDT

WeWork’s European expansion continues amid mixed success, at least according to the books. The co-working company’s losses in Europe tripled in 2017, according to the Financial Times. The reasons appear to stem from costs related to staffing–which tripled– infrastructure and rent. The latter of which both rose 60 percent and 53 percent respectively, and are tied to the acquisition and fit-out of new spaces across the continent. In the same time period, however, revenues in […]

This 17th-century villa on Lake Como is on the auction block

Posted: 07 Oct 2018 09:00 AM PDT

A 17th-century Italian villa, one of the most prized properties along the Lake Como waterfront, will be auctioned off at the end of the month. The auction will be run by Concierge Auctions with a reserve price of $23 million. According to Forbes, the villa was previously been listed for $115 million. Registered as a national monument by the Italian National Trust, Villa Passalacqua has a long, illustrious history. The 26,501-square-foot neoclassical home was built […]

The new must-haves for a home in the Hamptons? Safe rooms, bullet-proof windows and stockpiles of weapons

Posted: 07 Oct 2018 08:00 AM PDT

Money may not buy happiness, but it could buy safety, homeowners in the Hamptons hope. Residents are shelling out thousands, if not millions of dollars, to install safe rooms and top-notch security systems in fear of the brutal gang, MS-13, according to the New York Post. The gang is known for operating in Suffolk County and a handful of recent incidents, including a break-in and sexual assault in Southampton, has triggered growing concern. When Red […]

Beams crack in San Fran’s new $2B transit center

Posted: 07 Oct 2018 07:00 AM PDT

Crews are scrambling at the Transbay Transit Center in downtown San Francisco after a second cracked beam was discovered in as many days. The $2.2-billion transportation hub opened Aug. 11 and was heralded as “the flashy centerpiece of city infrastructure” two decades in the making, as the San Francisco Chronicle reported. But the center was quickly closed Sept. 25 after the first cracked beam was discovered. The Transbay Joint Powers Authority (TJPA) – which built […]

Jules Trump on his childhood, the Trump name and his start in real estate

Posted: 07 Oct 2018 06:00 AM PDT

It’s quite a time to be a Trump. Though this 74-year-old developer is no relation to the current occupant of the White House, Jules Trump has delivered his own set of glitzy projects, like Williams Island, Acqualina Resort & Spa and the Mansions at Acqualina. And the South African-born Trump also opts to work with family, having built all of his projects in partnerships with brother Eddie. Despite a general market slowdown in condo sales, […]