The Real Deal - New York Real Estate News

Forever 21 will sell to Simon, Brookfield-led partnership at bargain-basement price

Posted: 02 Feb 2020 02:22 PM PST

Two top mall owners and a brand management company are teaming up to buy troubled retailer Forever 21 at the discount price of $81 million. The retailer chain — which filed for bankruptcy in September — said in a court filing Sunday it reached a stalking horse purchase agreement with Simon Property Group, Brookfield Property Partners and Authentic Brands Group. The sale of Forever 21’s assets includes its side brands, such as beauty store Riley

This Northern Virginia estate just shattered a DC-area price record

Posted: 02 Feb 2020 11:00 AM PST

The Virginia estate of late AOL co-founder James Kimsey sold for $45 million, a record for the Washington, D.C. area. The three-acre property listed in 2018 for $63 million, according to the Wall Street Journal. The property sits on the Potomac River and includes two homes — a 24,500-square-foot house that Kimsey built and the Frank Lloyd Wright-designed Marden House built in the late 1950s. The sale breaks a record set in 2018 when Kimsey’s

A land deal between Joe Biden’s brother and a favored lobbyist is raising eyebrows

Posted: 02 Feb 2020 09:00 AM PST

As scrutiny continues over son Hunter Biden’s ties to a Ukrainian natural gas company, some are taking notice of the real estate interests of Joe Biden’s brother James. It looks like a sweet deal on property in the U.S. Virgin Islands James Biden was made possible by lobbyist Scott Green, who went on to regularly lobby Joe Biden during his time in the Senate, according to Politico. In 2005, James Biden purchased an acre of

Berlin’s radical new rent laws will destroy €5.5B in real estate investment: landlords

Posted: 02 Feb 2020 06:00 AM PST

Berlin’s legislature passed a package of rent regulations on Thursday that will cap revenues for landlords and freeze rents for five years. A spokesperson for Chancellor Angela Merkel’s Christian Democratic Union party plans to challenge the measure in constitutional court “as soon as possible,” according to Bloomberg. That can happen after the measure takes effect, which could be as soon as the end of February. Berlin is one of the cheaper cities in Europe and