The Real Deal - New York Real Estate News

Apple closes most stores in effort to curb virus spread

Posted: 14 Mar 2020 12:21 PM PDT

Apple is closing all of its stores outside of greater China for the next two weeks in order to try and help slow the spread of the coronavirus. Company CEO Tim Cook posted a letter to Apple’s website Saturday announcing that stores will be closed through March 27, Bloomberg reported. Cook noted that all of the stores in greater China that had closed are now opened, and Apple is taking what it learned in that

Trump Tower Mumbai builder sidesteps default with big bond sale

Posted: 14 Mar 2020 11:00 AM PDT

HED DEK SEO HED SEO DESC TWEET Macrotech Developers, builder of Trump Tower Mumbai, skirted a default on $324M in debt with a bond sale, refinancing, and property sales. ART Trump Tower rendering for background. Headshot or could be used for main art CAP Abhishek Lodha and a rendering of Trump Tower Mumbai CATEGORY Real Estate and Finance TAGS TYPE Blurb India’s biggest developer has paid off $324 million in bonds, avoiding a default that

Building towers with stone could be the future, architects say

Posted: 14 Mar 2020 09:00 AM PDT

A group of architects wants to bring their practice back to the stone age. Groupwork and structural engineering firm Webb Yates collaboratively designed a 30-story office tower built of stone they say could be cheaper and more sustainable than a similar tower built with steel or concrete, according to Dezeen. The project was an investigation of how tall one could build with stone and to estimate costs. It’s included in an exhibit at London’s Building

Tobacco mogul looks to part with over 500,000 acres of prime real estate

Posted: 14 Mar 2020 06:00 AM PDT

Tobacco billionaire Brad Kelley is ready to sell a mass of land that spans the size of Rhode Island, and all he’s asking for is $500 million. Kelley is listing a New Mexico ranch with around 50,000 contiguous acres for $96 million, according to the Wall Street Journal. Three months ago he listed a group of West Texas ranches totaling around 500,000 acres for $404 million. Together, the properties total almost the size of the

Virus outbreak has cost Airbnb tens of millions of dollars so far

Posted: 14 Mar 2020 05:00 AM PDT

Airbnb has lost tens of millions of dollars in booking revenues over the past several weeks in key cities that have been hard hit by the coronavirus outbreak. The home-sharing startup’s booking revenues fell dramatically across 17 key international cities over a span of five weeks starting at the beginning of February, according to analysis by The Real Deal of data from the Airbnb-analytics firm AirDNA. Since the start of February, when the virus first