The Real Deal - New York Real Estate News

UK tax break expiration could hurt struggling retailers

Posted: 28 Nov 2020 11:00 AM PST

A popular tax break is expiring in the United Kingdom in January, threatening the country’s status as a shopping destination and potentially dealing another blow to struggling retailers. The scheme allows foreign visitors to reclaim a sales tax of 20 percent on items bought in the country for more than £30, or roughly $40, according to the Wall Street Journal. That can add up, especially for foreign visitors dropping serious coin in pricey shops on

Turkish mall valued at $1B in deal with Qatar

Posted: 28 Nov 2020 09:00 AM PST

Turkish investment giant Dogus Holdings AS has agreed to sell a 30 percent stake in a high-end Istanbul shopping mall to a wing of Qatar’s sovereign wealth fund. The deal is said to value the Istanye Park property at $1 billion, Bloomberg News reported. The buyer is Qatar Fund, which is owned by the Qatar Investment Authority. Dogus is expected to use the $300 million or so in proceeds to pay its bank lenders, per

John Wayne’s former Riverside County ranch relists for $8M

Posted: 28 Nov 2020 06:00 AM PST

A sprawling Riverside County ranch once owned by actor John Wayne is back on the market for $8 million. The 2,000-acre property dubbed Rancho Pavoreal in the town of Sage was last on the market in 2018, according to the Los Angeles Times. It was marketed for cannabis cultivation, among other things. It also asked $8 million at the time. Now Rancho Pavoreal is being touted as an equestrian compound, cattle ranch, shooting range, camp