The Real Deal - New York Real Estate News

Seattle housing market cools as Amazon heads east

Posted: 23 Nov 2018 01:00 PM PST

In the wake of Amazon’s recent decision to split its second headquarters among two East Coast locations, brokers and residential sellers in the e-commerce giant’s Seattle home are moving aggressively to lure tenants and buyers. Landlords had already spent the last six months offering perks such as Amazon gift cards and free rent, as the company ramped up its marketing campaign and a nationwide search for HQ2, according to the Wall Street Journal. Bidding wars […]

Democrats have said they support closing the LLC loophole for years. Will they actually do it?

Posted: 23 Nov 2018 12:30 PM PST

With Democrats now fully in control of New York’s state government, their constituents should soon find out whether all of those promises to close the oft-maligned LLC loophole were more than just rhetoric. The law allows limited liability companies to act like people and donate up to $65,100 to each statewide candidate during each election cycle, much more than the $5,000 limit placed on corporations. Democrats campaigned on ending this during their bid to recapture […]

Caribbean real estate dream turns into $100 million nightmare for retirees

Posted: 23 Nov 2018 12:00 PM PST

Ever fantasize about fleeing the winter cold and getting in on the ground floor of a beachfront real estate deal in which you double your money in a few years? If you’ve dreamed that dream, here’s how it could turn nightmarish. When Frank Balluff and his wife, Rebecca, purchased a lot in what seemed to be an exciting new Caribbean resort development, little could they imagine what they were getting into. In fact, it was […]

Florida quail hunting plantation could go for nearly $30M

Posted: 23 Nov 2018 10:00 AM PST

A massive quail hunting plantation in Florida’s Leon County is on the market for nearly $30 million, making it the most expensive ranch property for sale in the region. The more than 4,500-acre property sits on 1.25 miles of Lake Miccosukee frontage near the Florida-Georgia border. The ranch has 14 quail hunting routes, 10 horses and a dog kennel with 49 dogs, including English cocker retrievers, pointers, derby dogs and puppies, according to the Wall […]

Here’s how to use landscaping to protect your home from fires

Posted: 23 Nov 2018 09:00 AM PST

A manicured, lush front yard can add a lot to a home’s curb appeal and value. But it can also add fuel to a fire, putting a residence at more risk. With the latest wave of devastating wildfires burning tens of thousands of acres across the state, fire pros and landscaping experts are coming up with ways to protect homes from the flames. One place to start would be by creating an open “defensible space” […]

Why small- and mid-sized mortgage firms are fighting for their survival

Posted: 23 Nov 2018 08:30 AM PST

It’s a rough time to be a small mortgage firm. The companies are cutting staff, shutting down and trying to sell themselves. It’s yet another sign of increasing pressure on the housing market due to rising interest rates and the maturation of a long economic expansion, according to the Wall Street Journal. The number of nonbank mortgage lenders dropped by around 3.5 percent halfway through 2018 when compared to the end of 2017, and mortgage-loan-originators […]

Looking for serious real estate upside? Search for homes near new museums

Posted: 23 Nov 2018 08:00 AM PST

They say artists find the hot neighborhoods first. But it turns out, art museums are pretty good for real estate values, too. In cities around the world, new museums are bolstering real estate prices thanks to buyers who want to live near cultural landmarks. And new museums also bring corporate employees and tourists to the local retail and restaurant scene. In fact, Stephen Sheppard, an economics professor at Williams College, told the Wall Street Journal […]

Airbnb gets pushback after pulling listings from Israeli West Bank settlements

Posted: 23 Nov 2018 07:00 AM PST

Airbnb has decided to remove around 200 listings in Israeli’s disputed West Bank, and the Israeli government is crying foul. The home-sharing giant said it was eliminating around 200 listings in the Israeli settlement, according to Reuters. Palestinians who support an independent Palestinian state welcomed the move, while Israel called it a “wretched capitulation” to boycotters. “We will approach the U.S. government because 25 U.S. states have sanctions against American companies that boycott Israel,” said […]

32BJ is very happy that Amazon is coming to Queens

Posted: 23 Nov 2018 06:30 AM PST

A major New York building workers union has come out strongly in favor of Amazon bringing part of its second headquarters in Queens. The union 32BJ SEIU announced its support of the move after it secured a deal for union labor to cover security and maintenance at the project, according to Crain’s. The group estimated the project could lead to as many as 3,000 jobs for union members. Members already had prior agreements with TF […]

National Cheat Sheet: Apollo plans $1B real estate fund, Amazon’s HQ2 selection spurs spurned cities to react … & more

Posted: 23 Nov 2018 06:00 AM PST

Apollo plans to raise at least $1B in its third U.S. real estate fund Buyout giant Apollo Global Management hopes to raise at least $1 billion for a new real estate investment fund that will focus on retail and industrial properties, senior housing, and hotels, Bloomberg reported. This would be the firm’s third real estate fund in the U.S., sources told the outlet, and fundraising would launch at the beginning of next year. Apollo recently […]

Day in the life of: Everard Martin

Posted: 23 Nov 2018 05:00 AM PST

Everard Martin, 52, is the president of Broadway Construction Group, the New York-based general contractor that operates under Allen Gross’ GFI Capital Resources. GFI, perhaps best known for its Ace New York, NoMad and Beekman hotels, launched BCG in 2013 to manage all of its local ground-up developments and conversions, and the two companies share an office at 140 Broadway. To date, the independent affiliate, which works with other sponsors and contractors, has wrapped 15 […]