The Real Deal - New York Real Estate News

South Florida’s most head-turning lawsuits of 2018

Posted: 30 Dec 2018 01:00 PM PST

In 2018, South Florida’s real estate industry saw longtime business partners going through bitter divorces, buyers seeking to get out of luxury condo deals by accusing developers of construction delays and false advertising, foreign governments and investors suing local companies over allegedly fraudulent real estate investments and sizzling disputes over allegedly unpaid six-and-seven-figure commissions. Here’s a look back at the 10 most scandalous lawsuits filed in the past 12 months: 1. Craig Studnicky and Philip […]

Pop-up warehouses: With industrial space scarce, retailers turning to on-demand providers

Posted: 30 Dec 2018 12:00 PM PST

With warehouse space at a premium, some retailers are now looking to short-term “on-demand warehousing” to help them find much-needed industrial real estate. The rise in e-commerce has caused a dramatic surge in the demand for industrial real estate. But even as developers have flooded the market with new inventory, some retailers are still having trouble finding adequate, flexible space. Now, companies like Flexe and Stord are stepping in to help retailers find industrial space […]

After NY private-equity firm becomes Memphis’ biggest homeowner, evictions soar

Posted: 30 Dec 2018 11:00 AM PST

Since New York-based Cerebrus Capital Management became the largest owner of single-family homes in Memphis, the number of residents it’s sought to evict has soared. A Washington Post investigation found FirstKey Homes, the property management company owned by private-equity firm Cerebrus, sought to evict more than 400 Memphis-area tenants this year, a 50-percent spike over 2017. It also filed for eviction at an annual rate of 21 times per 100 homes it owns in Shelby […]

Japan has millions of vacant homes you can buy for next to nothing

Posted: 30 Dec 2018 10:00 AM PST

The U.S. housing market is dealing with low inventory — especially in major metro areas — but that’s not the case in Japan. The world’s third-largest economy has a growing stock of vacant homes, thanks to an aging and dwindling population, according to CNBC. Many of the empty properties are located in rural towns, but some others are in cities like Tokyo. These homes are being listed at steep discounts — and even free — […]

Think big: Tiny home builder raises nearly $50M in IPO

Posted: 30 Dec 2018 09:00 AM PST

Big things sometimes come in small packages. Tiny home builder, Legacy Housing Corp., just raised $48 million in an initial public offering, reported Inman. The Texas-based company sold 4 million shares for $12 a pop. Legacy manufactures homes that range in size from 390 square feet to about 2,600 square feet for a variety of buyers from oil and gas companies looking for employee housing to retirees seeking a pied-à-terre. It is one of the […]

Why China is a parallel universe for toy retailers like Toys R Us

Posted: 30 Dec 2018 08:00 AM PST

Retailers are betting big on China’s burgeoning toy market as household names like Toys R Us file for bankruptcy in North America. The end of China’s one-child policy, combined with a lack of consumer confidence in product-safety, mean that Chinese parents are flocking to toy stores and American retailers want a piece of the action, according to the Chicago Tribune. Toys R Us Asia is one of the starkest examples of the difference between the […]

City Council approves Wu-Tang Clan District

Posted: 30 Dec 2018 07:00 AM PST

First, the Wu-Tang Clan dubbed Staten Island “Shaolin,” now a chunk of it will be named in the hip-hop group’s honor. The intersection of Vanderbilt Avenue and Targee Street will be co-named The Wu-Tang Clan District, pending Mayor Bill de Blasio’s support, thanks to a City Council vote that approved renaming streets in honor of the hip-hop group and two other musicians — Notorious B.I.G. (Christopher Wallace) and Woody Guthrie, according to the Gothamist. The […]

Concierge Auctions opens in “correcting” Vancouver market

Posted: 30 Dec 2018 06:00 AM PST

It’s fitting that a company born amid the 2008 housing market crash sees opportunity in Vancouver as its red-hot housing market falters. Florida-based Concierge Auctions is opening up an office in Vancouver, reported the Globe & Mail. According to the local real estate board, home sales in November dropped 18.2 percent compared to October, and plummeted 42.5 percent compared to the previous year. “When you have a correcting market like you have in Vancouver right now, […]