The Real Deal - New York Real Estate News

Redfin and Zillow expand their home buying and selling services to Texas

Posted: 17 Feb 2019 01:00 PM PST

Redfin and Zillow launched their direct-to-consumer home buying and selling programs in Texas. On Monday, the two Seattle-based companies separately announced the introduction of Zillow Offers in Houston and RedfinNow in Dallas. Through Zillow Offers, Zillow buys homes directly from sellers and re-lists them for sale after minor renovation work. Zillow already had launched the program in Atlanta, Charlotte, Denver, Las Vegas, Phoenix and Raleigh. Zillow, which works with local brokerages to buy and sell […]

Return of the giraffe: Toys “R” Us planning comeback with rebrand, focus on technology

Posted: 17 Feb 2019 12:00 PM PST

Toys “R” Us went belly-up in part because of its reluctance to adopt to the growth in e-commerce and a failure in invest in the customer experience. Now the retailer is hoping to turn those past weaknesses into strengths as it relaunches under a new brand. Some 1½ years after Toys “R” Us filed for Chapter 11 bankruptcy, former executives of the firm are opening a new company called Tru Kids, according to Forbes. The […]

UK tightens scrutiny of real estate funds after heavy withdrawals ahead of Brexit

Posted: 17 Feb 2019 11:00 AM PST

A UK government agency asked real estate investment funds for daily liquidity reports after their investors withdrew hundreds of millions of pounds amid anxiety over the UK’s pending exit next month from the European Union. Chicago-based investment research firm Morningstar said retail investors withdrew £315 million from UK real estate funds in December. The Financial Times reported that the UK’s Financial Conduct Authority (FCA) increased its scrutiny of property funds in December around the time […]

Missing amenity: President Trump’s Mar-a-Lago must do without a dock – for now

Posted: 17 Feb 2019 10:00 AM PST

The name of President Donald Trump’s Mar-a-Lago club is Spanish for “sea to lake,” but going there by boat won’t become an option anytime soon. An attorney representing Mar-a-Lago withdrew a proposal to build a dock at Trump’s private club in Palm Beach. Attorney Harvey Oyer withdrew the proposal before the Palm Beach Town Council could vote Wednesday on a motion by one of its members to reject the proposed dock. Mar-a-Lago proposed construction of a […]

Harvey Weinstein’s Tribeca office condo has a buyer

Posted: 17 Feb 2019 09:00 AM PST

The Weinstein Company’s former office is getting a new lease on life. New York-based developer, Cape Advisors, is purchasing the 6,000-square-foot office condo for over $6 million, the New York Post reported. (It was originally asking $10 million.) The office on the third floor at 375 Greenwich St. was bought by Harvey Weinstein and his brother Bob in 1989 for $1.1 million. Sources who recently visited the office described its furnishings and layout to the […]

To rent or to own? Here’s who pays more

Posted: 17 Feb 2019 08:00 AM PST

Is it better to rent or to buy? That depends on where you live and whether you think long-term or short-term. In every state across the country, homeowners with a mortgage pay more per month than renters, but the difference is far more drastic in some than others, according to a CNBC report on U.S. Census data from 2013-2017. The reason behind the finding isn’t clear from the data, but, based on other reports, it […]

Mardi Gras – aka selling season – hits New Orleans

Posted: 17 Feb 2019 07:00 AM PST

Carnival season in New Orleans is here, which means it’s selling season for real estate agents. But short-term rental regulations have created a glut in the French Quarter’s condo market developed, experts told the Financial Times. Legislation banning whole-home rentals in most of the French Quarter “really screwed up” the condo market there, Patrick Knudson, broker at Dorian Bennett Sotheby’s International Realty, said. As a result, price reductions of 5 to 10 percent have become […]

Travis Kalanick sets sights on Europe, Asia with new venture

Posted: 17 Feb 2019 06:00 AM PST

Travis Kalanick is looking to broaden his new real estate venture around the globe. Kalanick, the former Uber CEO who is now head of Los Angeles-based City Storage Systems, has been working to expand operations into Asia and Europe, according to a report by the Financial Times, which cited people with knowledge of Kalanick’s plans. City Storage is also the parent company of CloudKitchens, which provides kitchen space to delivery-only restaurants. In 2017, Kalanick resigned […]