The Real Deal - New York Real Estate News

Are Chinatown’s days numbered?

Posted: 24 Apr 2022 11:19 AM PDT

Manhattan’s Chinatown on the Lower East Side has for decades been buffered from gentrification by a stalwart group of civic associations that have held on to properties akin to those snatched up by developers in neighborhoods like Soho. But in the wake of Covid, that could all be changing. The New York Times is reporting that those real-estate rich, ​​traditional Chinese associations are in desperate need of new, younger members, or one of the few

Portland lost 14% of rentals. Did rent control cause the decline?

Posted: 24 Apr 2022 10:00 AM PDT

In 2017, Portland passed rent control. In 2019, the Oregon state legislature added statewide caps on rent hikes and evictions. Now, a study shows Portland lost 14 percent of its single-family rentals between 2015 and 2020 — twice as much as in the surrounding three-county area. The homeowner and landlord groups that commissioned the study blame the web of policies for Portland’s loss of rentals, Inman reported. The city, however, is not convinced. The groups

Alicia Keys and Swizz Beats sell Jersey mansion at a loss

Posted: 24 Apr 2022 09:09 AM PDT

These hitmakers just took a big hit. The New York Post is reporting that Grammy winners Alicia Keys and producer husband Kasseem “Swizz Beatz” Dean have sold the New Jersey mansion they purchased from comedian Eddie Murphy at a substantial loss. The property, which they purchased in two parts nearly a decade ago for $12.1 million, had been on the market for years, originally listing for $14.9 million in 2015 before being slashed to $9.4

Home in Arizona’s richest town sells for record $21M

Posted: 24 Apr 2022 06:00 AM PDT

A four-bedroom home in Paradise Valley, Arizona, sold for $21 million, a record sum for the Phoenix suburb, which boasts the state’s wealthiest ZIP code. The 13,000-square-foot home, which sits on 4.3 acres at 6015 East Cameldale Way, was asking $22.5 million when it hit the market last spring, the Wall Street Journal reported. Nancy Hanley Eriksson, who sold the home, built it over a decade ago with her late husband, Lee Hanley, the former