The Real Deal - New York Real Estate News

Blackstone Group is nearing a deal to pay $720 million for a massive portfolio of industrial property and development sites in India. The investment firm would buy 3.5 million square feet of existing warehousing space, with the potential to build another 18 million square feet of space on top of that, according to the Wall Street Journal. Warburg Pincus LLC and Embassy Group own the portfolio. The purchase could eventually double Blackstone’s existing 18 million

Brazilian real estate platform Loft has added another $100 million to a $425 million Series-D fundraising round that closed last month — bringing the firm’s valuation to an estimated $2.9 billion, according to TechCrunch. The additional funding makes it one of the largest ever fundraising efforts by a Brazilian startup. New York-based D1 Capital Partners led the initial round, joined by Fifth Wall Ventures, DST, Tiger Global and several other investors. Baillie Gifford led the

Hawaii is beginning the search for a developer to build a mixed-use district on 78 acres near the new Aloha Stadium Hui Hilina’i in Honolulu. The request for proposal will be for the surrounding real estate portion of the Aloha Stadium Entertainment District project, according to local news channel KHON2. Details are scant but the state specifically wants residential, hospitality, office, retail, and entertainment space included in the project, according to the report. The state

In early 2020, Cheung Chung-kiu bought a neglected 45-room mansion in London’s exclusive Knightsbridge neighborhood for $276 million, easily breaking the city’s residential price record. Now, the Hong Kong-based businessman plans to spend up to $277 million to overhaul the property at 2-8A Rutland Gate, doubling his investment in the property to upwards of half a billion dollars, according to Business Insider. Cheung submitted plans for the renovation to local authorities in February. A website

The Silicon Valley home where the creators of Facebook lived during the social network’s early days is up for rent. The six-bedroom home at 1743 Westbrook Avenue in Los Altos is available for $10,000 per month, according to the New York Post. That’s twice what Mark Zuckerberg and company paid when they moved in during the summer of 2004. Zuckerberg, Dustin Moskovitz and Sean Parker had been kicked out of their previous rental — allegedly