The Real Deal - New York Real Estate News

LA is reining in the real estate industry. Is it going too far?

Posted: 19 May 2019 01:00 PM PDT

A City Hall-supported ballot initiative that would impose a new square footage tax on properties. A City Council proposal to ban developers seeking project approval from donating to a political campaign. Opposition to a state measure that would increase the density of residential construction but could also force out lower-income residents. Those are some of the measures Los Angeles elected officials are now pushing or pushing against, which would hit the real estate industry particularly […]

Brokers brawl for charity at 6th annual Real Estate Rumble

Posted: 19 May 2019 12:00 PM PDT

The competition among brokers can be fierce, but it rarely leads to punches being thrown. Except for Thursday night. The Chicago Real Estate Rumble featured real estate professionals stepping into the boxing ring for a good cause at Park West in Lincoln Park. The sixth annual event raised about $30,000 for Big Brothers Big Sisters of Metropolitan Chicago, said event co-founder Greg Pekarsky, principal at RNP Realty Group. “It’s just a riot,” said Pekarsky, who […]

Plans for NYC’s storm-surge barrier raise environmental concerns

Posted: 19 May 2019 11:00 AM PDT

In the years since Hurricane Sandy wrought havoc on the tri-state area, city, state and federal authorities have been racing to put together plans to prevent another such disaster. But some are worried they may be moving too quickly. The U.S. Army Corps of Engineers, which has been working since 2016 on a plan to help New York and New Jersey manage the risk of coastal flooding, is set to pick a “tentatively selected plan” […]

A 45-story jail could be the newest tower in Lower Manhattan

Posted: 19 May 2019 10:00 AM PDT

Lower Manhattan could someday be home to a 45-story jail, although the possibility has already drawn the ire of community groups. The jail would rise at 125 White Street as part of the city’s 10-year plan to close Rikers Island, https://therealdeal.com/tag/rikers-island/according to the Architect’s Newspaper. The address is currently home to the Manhattan Detention Complex, also known as “the Tombs,” and the new facility planned for the site would span 1.27 million square feet and […]

How hospitality giant Accor plans to dominate the European co-working market

Posted: 19 May 2019 08:00 AM PDT

Paris-based hospitality behemoth Accor has picked Airbnb’s pocket with its luxury upstart brand onefinestay. And now it’s looking to make money in co-working. Accor announced last week that it was bringing co-working elements to 1,200 of its hospitality spaces over the next three years. If it succeeds, the play would represent the largest co-working venture in the continent. In 2017, Accor invested in Wojo (previously named Nextdoor) through the French company’s joint venture with Bouygues […]

This private equity shop wants to dominate resi brokerage in Canada

Posted: 19 May 2019 07:00 AM PDT

A private equity firm with a taste for real estate just acquired the Canadian arm of Sotheby’s International Realty, which has 540 agents and 32 offices in Canada. The new owner is Peerage Realty Partners, a subsidiary of private equity firm Peerage Capital. “The addition of an international luxury brand has been a key part of our growth strategy for many years,” Gavin Swartzman, president and CEO of Peerage Realty, said in a statement. Peerage […]

Tiny home on Amazon goes viral, sells out

Posted: 19 May 2019 07:00 AM PDT

The Amazon effect has come to the tiny home market. A kit to build a small studio-style cabin sold out almost instantly after its post on the e-commerce giant went viral. The maker of the cabin kit has since restocked, but the sellout earlier this month may be a sign that the tiny home market is getting bigger. Allwood Solvalla markets its $7,250 studio cabin as a do-it-yourself backyard guest house that two people can […]

Waning appetite? World’s largest institutional investors may slow their real estate acquisitions

Posted: 19 May 2019 06:30 AM PDT

Many of the world’s largest institutional investors are moving closer to their portfolio allocations for real estate assets, which may slow the pace of their property acquisitions, according to a new report. Survey data and interviews from IPE Real Assets show that 53 percent of top institutional investors expect to be net buyers of real estate assets in 2019 and 32 percent neither net sellers nor net buyers. “There is no necessity to either actively […]