The Real Deal - New York Real Estate News

Amazon “close” to picking HQ2 location: sources

Posted: 03 Nov 2018 02:32 PM PDT

Crystal City seems to the front-runner in the drawn-out competition to win Amazon’s $5 billion second headquarters, widely known as HQ2. Sources familiar with the company’s negotiations say Amazon is in advanced stages of discussing the location of HQ2 in Northern Virginia, according to the Washington Post. Topics such as the timing for a public announcement and immediate office needs are reportedly being ironed out. The e-commerce giant has said it will announce the location by […]

Gansevoort Hotel has lost its “cool factor” and its sister property wants out

Posted: 03 Nov 2018 01:00 PM PDT

The owners of a Caribbean resort say the Gansevoort Hotel has lost its hip factor and they no longer want to be associated with it. The Wymara Turks & Caicos, a sister resort to the famed Meatpacking District hotel, filed a lawsuit claiming the Gansevoort’s brand is dragging it down, the New York Post reported. The resort claims it paid “significant sums” to be associated with the hotel brand since opening in 2009. “The Gansevoort […]

Amazon Fulfillment Center collapse kills 2

Posted: 03 Nov 2018 11:43 AM PDT

The partial collapse of an Amazon Fulfillment Center killed two workers Friday night. A 50-foot wall in the facility, located in southeast Baltimore, crumbled as a storm passed through the area, according to the Baltimore Sun. Amazon released a statement on Saturday and said that the building would remain closed until further notice. “Last night, severe weather impacted one of our facilities in Baltimore City resulting in two fatalities. First responders remain onsite assessing the […]

China Evergrande turns to high-interest bonds to refi massive existing debt

Posted: 03 Nov 2018 11:00 AM PDT

Developer China Evergrande Group is turning to high-interest U.S. dollar bonds to refinance some of its existing debt, which totals $96 billion. Evergrande, China’s third-largest developer by sales, raised $1.8 billion in dollar bonds this week, agreeing to pay between 11 and 13.75 percent in interest, the Wall Street Journal reported. Evergrande’s billionaire chairman and majority shareholder Hui Ka Yan bought $1 billion of the bonds on offer to show his “support and confidence in […]

Wanna buy a ghost town in New Zealand for $1.8M?

Posted: 03 Nov 2018 10:00 AM PDT

Looking to move out of the city and very far away? A deserted lakeside village in New Zealand — complete with eight three-bedroom homes, a restaurant and unmatched views — has been listed for $1.8 million, according to the South China Morning Post. The global marketing of Lake Waitaki village is part of the New Zealand government’s push to lure its population away from the cities. In recent years, the country’s regional population has taken […]

Single women are outpacing men as first-time buyers — by a lot

Posted: 03 Nov 2018 09:00 AM PDT

Women have created a gender gap among homeowners. Single women outnumbered men as first-time homebuyers, Inman reported. The number of single women who purchased a home this year was unchanged at 18 percent year-over-year, while single men were at 9 percent — up from 7 percent last year. Married couples dominate the buyer pool at 63 percent, but women have consistently outpaced men, the report said. “Single females have always been second only to married […]

Millennials would rather buy real estate from an influencer than an agent

Posted: 03 Nov 2018 08:00 AM PDT

If you’re trying to help a millennial with real estate, you might be better off being an influencer than an agent. A recent Engel & Völkers study found that 80 percent of millennials would consider hiring an influencer as a real estate agent, according to Inman. The study surveyed more than 1,000 people born between 1982 and 1999 with annual incomes of more than $100,000. The top three factors for the participants when choosing a […]

Foreign investment in residential real estate drops in Florida: report

Posted: 03 Nov 2018 07:00 AM PDT

Foreign investment in Florida homes fell over the past year, according to a report from the Florida Realtors. Foreign buyers spent $22.9 billion between August 2017 and July 2018, down 5 percent from the previous year. They made up 19 percent of the market, compared to 21 percent a year earlier, and purchased 15 percent fewer homes, down to 52,000 properties. Experts have attributed the drop in foreign investment in part to the strength of […]

“Clicks-to-bricks” is in Chicago to stay, but where does it go from here?

Posted: 03 Nov 2018 06:00 AM PDT

Early in the third-quarter earnings call for retail landlord Acadia Realty Trust, CEO Ken Bernstein called out a particular string of Chicago leases to buck up investors after a punishing 2017. “In Lincoln Park, newcomers such as Allbirds and Outdoor Voices are joining Serena & Lilly, Bonobos and Warby Parker in our Armitage Avenue property,” Bernstein said. “These openings are going to help drive our performance in 2018 and 2019.” Those five brands share at […]