The Real Deal - New York Real Estate News

Overheated? DC-area fixer-upper gets 88 offers — 76 all-cash

Posted: 03 Apr 2021 11:00 AM PDT

For the latest evidence of a surging suburban sales market, look just outside Washington, D.C. There, a serious fixer-upper sold for 70 percent above its appraisal after receiving 88 offers — 76 all-cash, according to the New York Post. A buyer closed on the four-bedroom home in Silver Spring, Maryland, for $460,000, well above the $275,000 court-mandated appraisal that followed the owner’s death, according to the report. With home prices peaking in the area, the

WeWork exits first Hong Kong location as part of global downsizing

Posted: 03 Apr 2021 09:00 AM PDT

WeWork, which recently struck a $9 billion deal to go public via a special-purpose acquisition company, is still working on its path to profitability. Part of that strategy involves shedding space around the globe. In its latest move, the co-working company exited its 90,000-square-foot office in Hong Kong, according to the South China Morning Post. That amounts to a 20 percent reduction in the territory, leaving WeWork with 360,000 square feet of office space. The

Saudi prince sells 2K-acre UK estate to Bahrain’s royal family for $165M

Posted: 03 Apr 2021 06:00 AM PDT

Prince Bandar bin Sultan, a Saudi royal and longtime senior government official, sold a sprawling estate northwest of London to Bahrain’s royal family. Records show that Glympton Park traded hands in February for more than $165 million, according to Bloomberg Wealth. The buyers were Bahrain’s King Hamad bin Isa al-Khalifa and his son, Crown Prince Salman Bin Hamad Bin Isa Al Khalifa. Glympton Park spans 2,000 acres and centers on an 18th-century mansion. It includes

Amol Sarva trashes Newmark after ouster from Knotel

Posted: 02 Apr 2021 07:24 PM PDT

Knotel co-founder Amol Sarva took some shots at its new owner, Newmark, on his way out the door of the flex office company he ran into the ground. In a blistering email Friday evening, Sarva accused the brokerage of using the bankruptcy process to take over the once high-flying Knotel and damaging the company’s relationships. In months leading up to its bankruptcy filing in February, Knotel angered many of its landlords by refusing to pay