The Real Deal - New York Real Estate News

New York, Chicago make top 10 in list of “World’s Best Cities”

Posted: 01 Dec 2018 01:00 PM PST

New York, Chicago and San Francisco were the only U.S. metro areas to make the top 10 in a new list of “World’s Best Cities.” Vancouver-based Resonance Consultancy, a global adviser in real estate, tourism and economic development, listed New York in third place, Chicago in seventh and San Francisco in 10th, according to Crain’s. Los Angeles came in at 13th, while Miami placed 26th — beaten by other U.S. entries Boston, San Jose, Washington, […]

Lena Dunham is selling her Brooklyn condo and returning to her Manhattan ” tribe”

Posted: 01 Dec 2018 12:00 PM PST

Lena Dunham is ditching Brooklyn for Manhattan’s West Village. The writer, director and star of “Girls” is selling one of the two condos she owns in Brooklyn at 60 Broadway for $3 million, according to StreetEasy. The three-bedroom unit spans 1,987 square feet and is located in Williamsburg’s former Gretsch musical instrument factory. Dunham never actually lived in the condo, buying it for $2.9 million in April before quickly moving to sell it in July […]

Aretha Franklin’s Detroit mansion sells for $300K

Posted: 01 Dec 2018 11:30 AM PST

In life, she was the Queen of Soul. Now, Aretha Franklin’s become the Queen of Sold. The last Detroit property owned by the late Motor City icon recently sold for $300,000, The Detroit News reported. Anthony Kellum, head of the Michigan-based Kellum Mortgage bought the 6,200-square-foot brick home and plans to update it, the Associate Press reported. He said the home, which has been vacant for 10 years, requires “major renovations to restore its original […]

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

Posted: 01 Dec 2018 11:00 AM PST

The Real Deal’s December issue is live, and digital subscribers to TRD are getting the first look at what’s inside. Subscribers now have access to stories including: – How astronomical valuations could come back to bite investors – Why NAR pouring millions into tech could be a little too late – The highest-paid chief executives of major office REITs – Manhattan’s top retail brokerages – Is the great real estate job boom ending? And plenty […]

How London office landlords are coping with Brexit’s uncertainty

Posted: 01 Dec 2018 10:00 AM PST

Developers and landlords are always making bets on what the market will look like in the years ahead, but Brexit is making the office market outlook particularly foggy. Some of London’s largest office landlords, like Land Securities Group, British Land Co. and Great Portland Estates, are coping with the uncertainty by delaying large-scale projects, minimizing debt exposure and trying to get more out of existing projects, Bloomberg reported. “Clever management is all about managing those […]

Knotel is heading south with plans to open new spaces in Brazil

Posted: 01 Dec 2018 09:00 AM PST

Knotel, the fast expanding flexible office company, is looking past the United States and Europe for more office space and has headed south to Latin America, with plans to open office space in Brazil. The firm said this week it will open 100,000 square feet in offices across São Paulo, before expanding into Rio de Janeiro, according to Bloomberg. The flexible office space company, which has raised $160 million in multiple funding rounds and become […]

Institutional players are flocking to iBuyers, fueling single-family rental craze

Posted: 01 Dec 2018 08:00 AM PST

Home-buying startups that use technology to offer sellers a quick deal are increasingly offloading homes to institutional players that convert the homes into rentals. One in 10 homes sold by startups like Opendoor and Offerpad were snapped up by such institutional investors so far this year, according to a new analysis by Attom Data Solutions. They’re then being put back on the market as single-family rentals, a burgeoning and inventory-strapped sector of the housing market, […]

Developer builds hundreds of French chateaus in rural Turkey, bankruptcy ensues

Posted: 01 Dec 2018 07:00 AM PST

Who would have thought that building 732 miniature Renaissance-style chateaus in the Turkish countryside could go wrong? Developer Sarot Group was placed under court-ordered bankruptcy over the Burj Al Babas project Turkey’s Bolu province, Bloomberg reported. According to the Turkish newspaper Hurriyet, 587 homes are already completed, and 350 were sold to buyers from Saudi Arabia, the United Arab Emirates, Qatar, Kuwait and Bahrain. The project, which the developers claims is valued at $200 million, […]

Why vacant movie theaters are increasingly becoming development battlegrounds

Posted: 01 Dec 2018 06:00 AM PST

In the early decades of the 20th century, opulent movie palaces were a mainstay of many New York City communities. But as cultural and economic shifts led to their decline, many of the once-majestic structures have lay vacant for decades – posing difficult questions for communities and developers alike as redevelopment looms, Crain’s reported. Ongoing projects include the partially landmarked Metro Theater at 2626 Broadway, which is once again close to a rebirth after a […]