The Real Deal - New York Real Estate News

Tesla to build $1.1B assembly plant outside Austin, Texas

Posted: 26 Jul 2020 01:00 PM PDT

Tesla plans to build a $1.1 billion auto assembly plant in Travis County outside Austin. There’s no word on whether Elon Musk is paying in Bitcoin, but the factory will be one of the largest economic development projects in Austin’s history, according to the Austin American-Statesman. The factory is planned on 2,100 acres “five minutes from {Austin-Bergstrom International Airport], Musk said during a call with Wall Street analysts. He added that the property will be

Switzerland may surpass Hong Kong as the top global corporate tax haven

Posted: 26 Jul 2020 11:00 AM PDT

Some parts of Switzerland may soon become better corporate tax havens than the mother of all tax havens, Hong Kong. The Swiss government is implementing a massive tax reform that could drop the tax burden in some Swiss cantons below 10 percent, according to a BAK Economics study reported by Bloomberg. The national corporate tax rate in Switzerland is set to fall to about 13.5 percent from 16.8 percent in 2025 once its tax reforms

Pricey home sales plummet, but not prices themselves

Posted: 26 Jul 2020 09:00 AM PDT

High-end residential sales in the world’s most expensive cities dropped like a rock in the first half of the year. Sales above $10 million dropped 53 percent year-over-year in 12 pricey cities tracked by Knight Frank. New York and London saw the most severe declines, according to Bloomberg. Only 41 properties sold for more than $10 million in New York, down around 70 percent from the 137 in the first half of last year. The

Disney parks could lose 100M visitors in two years

Posted: 26 Jul 2020 06:00 AM PDT

Attendance at Disney-owned parks could drop by nearly 100 million people over two years, a report by market analysts at Cowen and Company forecasts. Cowen doesn’t expect the company’s theme park division to recover from the coronavirus pandemic and become profitable until 2025, according to the Los Angeles Daily News. That annual loss in attendance amounts to a 47 percent decline in fiscal 2020 and 35 percent for 2021. Not all analysts agree. Goldman Sachs