The Real Deal - New York Real Estate News

“Empire” mansion still looking for buyer after 6 years and 40% price cut

Posted: 22 Jun 2019 01:00 PM PDT

A 17,000-square-foot Barrington Hills mansion frequently seen on the Fox TV series “Empire” has yet to find a buyer despite a 40% price chop from its original asking. The home at 45 Lakeview Lane originally listed for $15.9 million in June 2013. Now it’s listed at $9.5 million, according to Crain’s. The 8.5-acre estate regularly has been featured as the mansion of actor Terrance Howard’s Lucious Lyon character since 2014, but owners Sam and Geralyn […]

Retired apparel designer sells Manhattan penthouse for big gain

Posted: 22 Jun 2019 11:00 AM PDT

Designer Andrew Rosen sold his Manhattan home for $18.5 million after quitting his job as CEO of the apparel company Theory in April. Rosen sold the Greenwich Village penthouse for 42 percent more than the $13 million he paid in 2012, but less than the $21.5 million he listed it for in September 2018. The gain on the sale to Long Light Capital financier Justin Korsant stemmed from the overall rise in luxury Manhattan prices […]

Judge says landlord, realty firm should pay $25K penalty for transgender discrimination

Posted: 22 Jun 2019 10:00 AM PDT

A judge recommended that a landlord and realty company pay $25,000 for discriminating against a transgender woman seeking an apartment in Brooklyn. The ruling by administration law judge John B. Spooner favored Giana Desir, who started her transition from male to female in 2013, the New York Daily News reported. The judge ruled on a complaint on her behalf that the New York City Commission on Human Rights filed in 2016 against landlord Henry Walter […]

“It’s like the tulip craze:” South Florida developers expect Opportunity Zone land values to wilt

Posted: 22 Jun 2019 09:00 AM PDT

Developers are finally putting shovels in the ground and deploying capital in Opportunity Zones in South Florida and across the country. But with 124 qualified Opportunity Zones in South Florida, developers, brokers and investors at a Bisnow panel on Thursday said they are largely focusing their attention on projects near Fort Lauderdale and Delray Beach’s urban core. Jaime Sturgis of the Fort Lauderdale-based brokerage Native Realty said his company is involved in about 10 Opportunity […]

This week in celeb real estate: Gwen Stefani and Gavin Rossdale chop price in Beverly Hills, Naked Princess sells penthouse…and more

Posted: 22 Jun 2019 08:00 AM PDT

A wave of expensive properties hit the market this week, adding to the glut of luxury residences on the market. There was also one notable price cut for a property in Beverly Hills that’s been languishing for as long as its former owners have been divorced. Rockstars and former couple Gwen Stefani and Gavin Rossdale chopped the ask on their 15,000-square-foot home from $35 million to $24 million, a 31 percent drop. Located in a […]

Berlin backlash: Voter discontent leads to 5-year rent freeze

Posted: 22 Jun 2019 07:00 AM PDT

Lawmakers in Berlin have approved a five-year rent freeze, significant move that follows voter backlash over rising property prices. The law will apply to an estimated 1.5 million apartments, and is likely to face legal challenges from property owners, the Financial Times reported. The law is supposed to start in 2020, but will apply retroactively to all rental agreements starting earlier this week. Similar battles are playing out throughout the U.S. In New York, state […]

Ciao! Wealthy buyers come back to Italy

Posted: 22 Jun 2019 06:00 AM PDT

While Italy has long attracted art lovers — not to mention pizza, pasta and gelato lovers — major real estate investors have largely avoided it for the last decade. But that’s now changing. Casa & Country Italian Property’s Gemma Bruce said her luxury firm has recently seen an uptick in buyers looking for homes. They are “people we dealt with six, seven, eight years ago who … suddenly reappeared,” she told Mansion Global. And many […]