The Real Deal - New York Real Estate News

The states with the biggest share of vacation rentals aren’t where you’d think

Posted: 20 Jul 2019 10:00 AM PDT

Year-round sunshine didn’t help Florida make it to the top of this vacation rental ranking. The states with the highest percentage of vacation homes are clustered in the Northeast, Bloomberg reported, citing a new study from investment property exchange firm IPX1031. Maine topped the ranking, with 19.3 percent of its homes being used as vacation rentals. Vermont came in second, at 17.4 percent, followed by New Hampshire, at 11.8 percent, and Alaska clocked in at […]

Cruel and unusual: West Palm Beach plays “Baby Shark” to force out homeless people

Posted: 20 Jul 2019 09:00 AM PDT

Apparently inspired by the interrogators at Abu Ghraib prison in Iraq, the government of West Palm Beach is repeatedly playing the song “Baby Shark” on a public address system to discourage homeless people from sleeping at a city-owned waterfront pavilion. The city also is blaring other irritating children’s songs to keep the homeless away from its Waterfront Lake Pavilion, which generates about $24,000 of annual income from event fees, mainly in connection with weddings. Leah […]

Renowned architect César Pelli dies at 92

Posted: 20 Jul 2019 08:02 AM PDT

Acclaimed architect César Pelli, whose firm designed some of the world’s most distinctive buildings, died Friday. He was 92. La Gaceta, a newspaper in San Miguel de Tucumán, his hometown in northern Argentina, reported the news. Pelli, who came to the U.S. in 1952 to continue his architecture studies at the University of Illinois, saw most of his success later in life, according to the New York Times. He didn’t open his own architecture firm […]

New owner of Toys R Us plans 2 store openings this year in small-scale U.S. comeback

Posted: 20 Jul 2019 07:00 AM PDT

The new owner of the Toys R Us brand will open scores of new stores this year, but only two in the United States, where the former owner declared bankruptcy in 2017. Several former executives of Toys R Us founded Parsippany, New Jersey-based Tru Kids Brands in January, and it now manages the Toys R Us, Babies R Us and Geoffrey brands. Toys R Us liquidated its U.S. business after its 2017 bankruptcy filing, leaving […]

This week in celeb real estate: Dr. Dre’s Woodland Hills manor hits the market, real estate mogul makes pricey condo buy…and more

Posted: 20 Jul 2019 05:00 AM PDT

Celebrity television star Kelsey Grammer and his ex-wife put their home on the market, and the widow of the late television star Michael Landon sold her Malibu home this week. Music mogul Dr. Dre also put his Woodland Hills manor on the market. And for something a little different: Real estate billionaire Richard Lewis bought a very pricey condominium in Beverly West. And though it isn’t celebrity-tied — as yet — spec home developer Ardie […]

“It’s really bad optics”: What Adam Neumman’s $700M cashout says about The We Company’s future

Posted: 19 Jul 2019 03:48 PM PDT

UPDATED July 19, 9:00 pm: Startups are valued by their potential to grow, and trust in the business model. In the We Company’s case, its $47 billion valuation is set to be tested by the confidence of public markets ahead of an upcoming IPO. But the flexible office space company’s freewheeling founder and chief executive, Adam Neumann, has polarized investors, some of whom have puzzled over company decisions in recent years — the purchase of […]