The Real Deal - New York Real Estate News

What the trade of this luxury hotel brand means for the hospitality industry

Posted: 23 Feb 2019 01:00 PM PST

In what is thought to be the first deal of its kind, Best Western has acquired European indie hotel chain, WorldHotels. The global hotel industry has been going through big changes in recent years, as online booking and homesharing cracked open new opportunities for independent hotels. In response, large hotel chains have launched dozens of “soft brands”, semi-independent collections of hotels that can offer differentiated experiences to travelers. This week, Best Western upped the ante […]

Why these bungalows are setting records in Singapore despite cooling market

Posted: 23 Feb 2019 12:00 PM PST

Singapore’s most appealing homes, known as Good Class Bungalows (yes, really), are reaching record prices thanks to exclusivity, of course. Good Class Bungalows, or GCBs, are only available to locals, so the combination of the supply scarcity and buyer exclusivity has led prices to soar even as the broader market has slowed, according to a Bloomberg report. “The super rich want to buy the best diamond, the best car, so in Singapore residential, the Good […]

Looking for luxury condos? Cooling prices forecasted in Iceland

Posted: 23 Feb 2019 11:00 AM PST

Iceland may have recovered from a debilitating financial crisis, but now it faces a new problem: an increasing number of empty luxury apartments and a need for affordable housing. A booming housing market and low mortgage rates have pushed up the prices of luxury property in cities like Reykjavik, Bloomberg reported, but now many units are being left empty as the economy cools. The number of tourists expected to arrive this year is slated to […]

Chicago’s most expensive listing returns to market at “markdown” to $45M

Posted: 23 Feb 2019 10:00 AM PST

A Lincoln Park mansion that sat unsold for two years asking $50 million before being pulled off the market is being listed again, this time for $45 million. The six-bedroom home on North Burling Street was by far the priciest residential listing in the Chicago area while it sat on the market, and is still more than twice as expensive as the second priciest listing, even at the reduced amount, according to the Chicago Tribune. […]

Jodie Foster lists hilltop home in Beverly Hills for $16M

Posted: 23 Feb 2019 09:00 AM PST

After struggling to sell a home in the Bird Streets, actress Jodie Foster is hoping to have better luck with her Beverly Hills house. The actress has put her hilltop residence in the Coldwater Canyon area on the market for $15.9 million. The 7,500-square-foot residence has five bedrooms, seven bathrooms, a media and theatre room, and a pool in the backyard. Yolanda’s Little Black Book first reported the listing. Foster paid $11.8 million for the […]

The decider: Nassau County executive Laura Curran looks back on her first year in office

Posted: 23 Feb 2019 08:00 AM PST

When former journalist and Democratic county legislator Laura Curran took the oath of office as Nassau County executive at the beginning of 2018, she already had two major projects on her to-do list: revamping Nassau County’s property tax system and restoring trust in a government marred by allegations against her predecessor, Republican Ed Mangano, who is currently being retried on political corruption charges. Less than a month after the swearing-in, she began tackling the latter: […]

One of Trump’s biggest donors is accused of ripping off L.A. tenants

Posted: 23 Feb 2019 07:00 AM PST

UPDATED on Feb. 22, 2019, at 3:26 p.m.: A lawsuit claims that billionaire developer Geoffrey Palmer, one of President Donald Trump’s largest donors, has denied apartment tenants across Los Angeles of millions of dollars in security deposits. Palmer’s company, G.H. Palmer Associates, allegedly kept the deposits of some 11,000 former renters illegally, NBC reported. The accusations were detailed in a class-action lawsuit filed by San Diego attorney Jimmie Parker. Parker alleges Palmer’s company “systematically and […]

Martha Stewart’s daughter, Alexis, lists triplex for $53M

Posted: 23 Feb 2019 06:00 AM PST

Alexis Stewart’s 9,500-square-foot apartment in the West Village is officially on the market. Stewart, the only daughter of television personality Martha Stewart, cobbled together the sprawling unit after snapping up four units at 165 Charles Street for $35 million between 2006 and 2007, the Wall Street Journal reports. The younger Stewart, who has cultivated her own media personality, designed the new six-bedroom megaunit herself. The apartment includes a private office (with a terrace), library, walk-in […]