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The Real Deal

The Real Deal
✍️Bringing transparency to one of the world's most important and least understood industries. The Real Deal is the premier real-estate news outlet in the US, reaching millions of professionals daily through digital, print, social media and events.

Readers turn to us for breaking news, market intelligence, custom research, proprietary rankings, deal analysis, profiles, trends and much more. We have received more than 50 awards for editorial excellence over the past 5 years, including the General Excellence award from the Society of Business Writers and Editors.

Operating as usual

An English developer is asking $1.4 million for a  home with roughly as much living space as a school bus.
11/28/2022
Tiny London Apartment Asks Over $1 Million

An English developer is asking $1.4 million for a home with roughly as much living space as a school bus.

An English developer is asking $1.4 million for a London home with roughly as much living space as a school bus.

11/28/2022
Mapping out Stephen Ross' South Florida empire

Stephen Ross' Related Companies is on a South Florida shopping and development spree. At a time when many developers and investors are pulling back from the sector, the billionaire's New York-based firm is steadfast on its "Wall Street South" wager.

Watch the video to learn more, and tap here to explore TRD's interactive map of Ross' empire: https://bit.ly/3OKCK7l

 - Using a proprietary framework, WiredScore assesses,  and improves   and  throughout buildings. “We work with ,  and o...
11/28/2022

- Using a proprietary framework, WiredScore assesses, and improves and throughout buildings. “We work with , and owners-operators to ensure the buildings they are constructing and delivering are future-ready from a technology standpoint, thereby ensuring positive tenant outcomes,” he says.

The goal, explains WiredScore Founder and CEO Arie Barendrecht, is to “help real estate adapt and in a world where aren’t just brick or steel boxes, but are tech-enabled computers with roofs on them,” he says. “We are helping landlords deliver the right experience in a world where tech is the core of the real estate offering.”

Read on: https://therealdeal.com/.../future-readying-your.../...

A penthouse in a yet-to-be-built Related Group condo development on , an ultra-wealthy island off , is asking $90 millio...
11/28/2022
Related Group, Partners Ask $90M for Fisher Island PH

A penthouse in a yet-to-be-built Related Group condo development on , an ultra-wealthy island off , is asking $90 million.

Related Group and its partners increased the asking price for the penthouse at their planned Fisher Island luxury condo development to $90 million.

Sometimes it’s dangerous to be a . In recent weeks, one landlord was shot at with a speargun, while another stabbed with...
11/28/2022
Tenants Attack Landlords in Two Separate Incidents

Sometimes it’s dangerous to be a . In recent weeks, one landlord was shot at with a speargun, while another stabbed with a sword.

In separate incidents, a landlord in Opa-Locka, Florida, and another in Vallejo, California, were attacked by tenants with a speargun and a sword

The Soloviev Group denies it was working on a deal to sell 9 West 57th Street, among 's most prestigious  buildings.
11/28/2022
Soloviev Denies Effort to Sell Solow Building, 9 West 57th Street

The Soloviev Group denies it was working on a deal to sell 9 West 57th Street, among 's most prestigious buildings.

The Soloviev Group denies it was working on a deal to sell 9 West 57th Street, among New York City’s most prestigious office buildings.

 Auction dates have been set for the sale of the coveted RB Portfolio, a collection of six walk-up, mixed-use properties...
11/28/2022
Coveted six-building West Village apartment portfolio set for auction - The Real Deal

Auction dates have been set for the sale of the coveted RB Portfolio, a collection of six walk-up, mixed-use properties situated in some of the most popular areas of New York City.

JLL Capital Markets team led by Chairman, NY Investment Sales Robert Knakal, and Managing Directors Jonathan Hageman, Hall Oster, Guthrie Garvin and Clint Olsen, is leading the marketing campaign.

  Auction dates have been set for the sale of the coveted RB Portfolio, a collection of six walk-up, mixed-use properties situated in some of the most popular areas of New York City. JLL Capital Markets team led by Chairman, NY Investment Sales Bob Knakal, and Managing Directors Jonathan Hageman, H...

A hot-air-balloon business, which comes with three properties and about 40 employees, in 's  is on the market for $12 mi...
11/28/2022
Napa Valley Hot-Air Balloon Business Lists for $12M

A hot-air-balloon business, which comes with three properties and about 40 employees, in 's is on the market for $12 million.

A Napa Valley, California, hot-air-balloon business, which comes with three properties and about 40 employees, is on the market for $12 million

As  rates fall, agents see a spate of activity from homebuyers who had stepped away when borrowing costs rose.
11/28/2022
Homebuyers Re-enter Market as Mortgage Rates Finally Drop

As rates fall, agents see a spate of activity from homebuyers who had stepped away when borrowing costs rose.

As mortgage rates fall, agents see a spate of activity from homebuyers who had stepped away when borrowing costs rose.

A   developer was revealed as the "bogeyman of p**n," a new documentary claims.
11/28/2022
Film says LA Developer’s Alter Ego Is P**n Director Khan Tusion

A developer was revealed as the "bogeyman of p**n," a new documentary claims.

Los Angeles real estate developer Mark Handel—with political connections to U.S. Rep. Tony Cardenas and U.S. Sen. Alex Padilla—is also known as abusive hardcore p**n director Khan Tusion, investigators say.

 - It’s a distinction that allows Holland & Knight to provide superlative counsel and a broader geographic knowledge of ...
11/28/2022

- It’s a distinction that allows Holland & Knight to provide superlative counsel and a broader geographic knowledge of norms and customs, all while adhering to the highest standards of legal practice across the firm.

“We can provide consistent service because each practice area works the same way, and we regularly speak and meet with each other to get the benefit of skilled attorneys throughout the firm,” says Partner and New York PGL Stuart Saft. “We aim to create one-stop shopping for our clients.”

Click here: https://bit.ly/3Ejkehe

This , we're offering the biggest deal — ever — on a subscription to . Get one month of unlimited access to award-winnin...
11/28/2022

This , we're offering the biggest deal — ever — on a subscription to . Get one month of unlimited access to award-winning news that covers every facet of the industry for just $1. ⁠

now here: https://bit.ly/3EJqZJI
⁠For new subscribers only.

11/27/2022

Check out our editors' top stories of the week.

1. Millions of housing units are needed in the US
READ: https://bit.ly/3U5FSM0
2. Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
READ: https://bit.ly/3U6lZEF
3. Mapping out Steve Ross’ South Florida empire
READ: https://bit.ly/3Uh5nKi
4. Los Angeles rents rise 11% for two-bedroom apartments
READ: https://bit.ly/3UcNTyD
5. Mall owner sues Cook County over tax assessments
READ: https://bit.ly/3gDmGrc
6. Kingston rent stabilization blocked, possibly for good
READ: https://bit.ly/3gGcbn8
7. SF aims to relax zoning rules to bring tenants to Union Square
READ: https://bit.ly/3F4umME
8. Goldman Sachs’ new Dallas office will cost $500M
READ: https://bit.ly/3gDmGaG

Less than six months after purchasing a  condo from Jon Bonjovi for $22 million, former Disney President Michael Ovitz i...
11/27/2022
Michael Ovitz Looks to Flip Greenwich Village Condo for $25M

Less than six months after purchasing a condo from Jon Bonjovi for $22 million, former Disney President Michael Ovitz is selling it for a $3 million profit.

Former Disney President Michael Ovitz is looking to sell the condo at 155 West 11th Street in The Greenwich Lane for $25 million less than months after buying it from Jon Bon Jovi

Financing  projects at a time of steep interest rates is no simple feat. As banks pull back on , their absence could pre...
11/27/2022

Financing projects at a time of steep interest rates is no simple feat. As banks pull back on , their absence could present an opening for alternative lenders like Madison Realty Capital, which has long specialized in special situations.

“Because banks have pulled back dramatically, there’s an opportunity for us,” co-founder Josh Zegen told TRD's Isabella Farr and Suzannah Cavanaugh on the latest episode of TRD’s weekly , .

Tune in to the full interview, where Josh Zegen shares lending strategy, here: https://bit.ly/3F22pE7
And subscribe and leave a review to win exclusive TRD merch!

SPONSOR: Dottid

Drought conditions pose a major risk to  due to the water cooling measures needed for the  properties.
11/27/2022
Data Centers Facing Existential Crisis

Drought conditions pose a major risk to due to the water cooling measures needed for the properties.

Drought conditions pose a major risk to the commercial properties due to their use of water cooling measures.

Taylor Swift's former  home made famous in her song "Cornelia Street" is up for rent for $45,000 a month.
11/27/2022
Taylor Swift’s Cornelia Street Home for Rent

Taylor Swift's former home made famous in her song "Cornelia Street" is up for rent for $45,000 a month.

The superstar’s former pad in New York City is being rented out for $45,000 a month.

’s  industry bounced back with gusto after 9/11 and the Financial Crisis, so it’s no surprise that investors bet it woul...
11/26/2022
TRD Pro: Ranking the Largest New York City Hotel Sales

’s industry bounced back with gusto after 9/11 and the Financial Crisis, so it’s no surprise that investors bet it would do the same after the pandemic ... especially if they could get top properties at deep discounts. The team crunched the numbers to determine 's most expensive hotel sales in the past year. Head to the for the complete list.

Sonesta Hotels’ $324.3 million acquisition of four high-end hotels in April is the most expensive hotel transaction in the past year.

A federal judge dismissed  developer Geoff Palmer's lawsuit challenging ' COVID-19  moratorium as unconstitutional under...
11/26/2022
Judge Tosses Geoff Palmer’s Suit Over Los Angeles Eviction Ban

A federal judge dismissed developer Geoff Palmer's lawsuit challenging ' COVID-19 moratorium as unconstitutional under the Fifth Amendment.

A federal judge dismissed Geoff Palmer’s lawsuit challenging Los Angeles’ COVID-19 eviction moratorium as unconstitutional under the Fifth Amendment

Luxury watchmaker Jacob & Co. and Emerati property development company Binghatti Developers are collaborating to constru...
11/26/2022
Jacob the Jeweler Plans World’s Tallest Hypertower in Dubai

Luxury watchmaker Jacob & Co. and Emerati property development company Binghatti Developers are collaborating to construct the world’s tallest residential building in .

Jacob & Co. is partnering with Binghatti to build the world’s tallest residential building in Dubai, usurping Central Park Tower in New York City

Side Real Estate’s pitch to agents is simple: Your name is what’s important, not your agency’s. The -based white label ,...
11/25/2022

Side Real Estate’s pitch to agents is simple: Your name is what’s important, not your agency’s. The -based white label , which has a $2.5 billion valuation, helps agents run their own boutique business supported by its technological backend.

In the last year, the firm has grown rapidly, before shrinking by 10 percent in June, with CEO Guy Gal citing market volatility and overexpansion as reasons for the layoffs.

TRD spoke with Side’s California Managing Agent Casey McLoed on everything from the impact of remote work on the sector to the power of a boutique brand. Click to read the interview: https://bit.ly/3U5wAj1

11/25/2022
Gen Z sets record for living at home with parents

Younger and are living at home with their parents in greater numbers than any generation in recent history, according to a recent Harris poll. Watch as we explore the many factors behind this trend, and let us know your thoughts in the comments.

Miami Beach voters nixed office plans near Lincoln Road, but the city still is poised to get projects. That's courtesy o...
11/25/2022
Shvo, Pérez, Kapoor, Eric Schmidt Bet on Miami Beach Offices

Miami Beach voters nixed office plans near Lincoln Road, but the city still is poised to get projects. That's courtesy of SHVO's Michael Shvo, Related Group's Jorge Pérez and others.

Miami Beach voters nixed office plans near Lincoln Road, but the city still is poised to get projects. That’s courtesy of Michael Shvo, Jorge Pérez and others.

Suzy Welch has sold her  co-op for $21 million‚ a $4 million discount after a year on the market, but $3 million more th...
11/25/2022
Suzy Welch sells Fifth Avenue co-op at a discount - The Real Deal

Suzy Welch has sold her co-op for $21 million‚ a $4 million discount after a year on the market, but $3 million more than she and late husband Jack Welch paid in 2018.

Suzy Welch has sold her Lenox Hill co-op for a $4 million discount after a year on the market. Welch sold the Fifth Avenue apartment to venture capitalist couple John and Barbara Vogelstein for $21 million, meaning she turned a $3 million profit on the property her late husband, General Electric bos...

Class-action lawsuits are not the only problem facing : The United States Department of Justice has opened an investigat...
11/24/2022
Department of Justice Opens Investigation of RealPage

Class-action lawsuits are not the only problem facing : The United States Department of Justice has opened an investigation into the company.

The proptech company is suspected of facilitating collusion among landlords to artificially inflate apartment rents across the country.

Sam Bankman-Fried's FTX, the founder's parents and senior executives bought up at least $300 million of property in the ...
11/24/2022
Sam Bankman-Fried’s $300M “Personal Fiefdom” in the Bahamas

Sam Bankman-Fried's FTX, the founder's parents and senior executives bought up at least $300 million of property in the before its crash this month. Click the link to learn about what attorneys are calling Bankman-Fried’s “personal fiefdom."

Sam Bankman-Fried’s FTX, the founder’s parents and senior executives bought up at least $300 million of property in the Bahamas before its crash this month.

WATCH: An analysis of what the  debacle might mean for the  buyer pool in -friendly cities such as  and .
11/24/2022
What FTX Shutdown Could Mean for Real Estate Crypto Buyers

WATCH: An analysis of what the debacle might mean for the buyer pool in -friendly cities such as and .

An analysis of what the FTX debacle might mean for the real estate buyer pool in crypto-friendly cities such as Miami and Los Angeles.

A European Wax Center co-founder wants $85 million for a unit he's in contract to buy at Estates at Acqualina in , a rec...
11/24/2022
European Wax Center Mogul Asks $85M for Sunny Isles Condo

A European Wax Center co-founder wants $85 million for a unit he's in contract to buy at Estates at Acqualina in , a record in .

A European Wax Center co-founder wants $85 million for a unit he’s in contract to buy at Estates at Acqualina in Sunny Isles Beach, a record in Miami.

One of ’s busiest  players, Slate Property Group, invited industry professionals to an early round of holiday cheer last...
11/23/2022
Photos: Slate Property Group Holiday Party at Casa Cipriani

One of ’s busiest players, Slate Property Group, invited industry professionals to an early round of holiday cheer last week at Casa Cipriani in Lower . Join TRD on the guest list for one of 's top parties.

A look inside an early holiday party at Casa Cipriani hosted by Slate Property Group, one of New York’s busiest multifamily players.

JLL is all-in on the future of single-family rentals, partnering with -based Amherst Group to amass a $500 million  rent...
11/23/2022
JLL Really, Really Wants to Be a Single-Family Megalandlord

JLL is all-in on the future of single-family rentals, partnering with -based Amherst Group to amass a $500 million rental portfolio over the next two years.

JLL’s joint venture with Amherst aims to amass a $500 million single-family rental portfolio over the next two years.

Flagging office market? Not according to JPMorgan Chase & Co., now hoping to sell a 1.4 million-square-foot  property in...
11/23/2022
Water Garden Asking Price: $1.4 Billion

Flagging office market? Not according to JPMorgan Chase & Co., now hoping to sell a 1.4 million-square-foot property in for $1.4 billion.

JPMorgan puts Santa Monica office complex on market at $1,000 per square foot, double the LA average.

 is home to more than 100 degree-granting institutions. But which private  or  own the most city ? The TRD Pro team crun...
11/23/2022
Map: The Universities With the Largest NYC Real Estate Footprints

is home to more than 100 degree-granting institutions. But which private or own the most city ? The TRD Pro team crunched the numbers to determine the 15 private academic institutions with the largest real estate footprints across the five boroughs. Click the link for the complete list.

The Real Deal ranked (and mapped) the 15 colleges and universities that own the most real estate in New York City by square footage.

11/23/2022
Deconstruct: To Lend or not to lend?

On the latest episode of , hosts Isabella Farr and Suzannah Cavanaugh chat with Madison Realty Capital's Josh Zegen about the opportunities to be had amidst rising interest rates and an increasingly uncertain market. But first they sound off on the week's hottest industry headlines — from the crash and Grant Cardone's lawsuit against Related Companies to J.P. Morgan's new venture to build and acquire $1B in Sun Belt rentals.

Tune in to the full episode here: https://apple.co/3OxOkmb

And subscribe and leave a review to win exclusive TRD merch!

SPONSOR: Dottid

KKR is bailing on office plans at a Tishman Speyer tower in 's West Chelsea.
11/23/2022
KKR Dumps Manhattan Office Plans

KKR is bailing on office plans at a Tishman Speyer tower in 's West Chelsea.

Private equity giant KKR was eyeing 300,000 square feet at the Tishman Speyer development at 341 Ninth Avenue.

Sure, Don Peebles and Barry Sternlicht got a hard “no” on plans to build  offices. Not to worry, many others have projec...
11/23/2022
Shvo, Pérez, Kapoor, Eric Schmidt Bet on Miami Beach Offices

Sure, Don Peebles and Barry Sternlicht got a hard “no” on plans to build offices. Not to worry, many others have projects on tap.

Miami Beach voters nixed office plans near Lincoln Road, but the city still is poised to get projects. That’s courtesy of Michael Shvo, Jorge Pérez and others.

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The Real Deal has become mandatory reading for everyone in the industry. Since 2003, TRD has provided up-to-the-minute industry news and in-depth reports and profiles in our 65,000-circulation monthly magazine and on TheRealDeal.com, which receives more than 2 million unique visitors per month. Our content is available across multiple platforms, including a mobile app available to iPhone, iPad and Android users alike.

The Real Deal has been repeatedly recognized for its prowess in real estate media, receiving the Society of American Business Editors and Writers’ 2013 award for general excellence. In 2016, TRD won a record 12 awards from the National Association of Real Estate Editors, including the gold for best residential trade magazine and a silver award for best commercial trade magazine.

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Comments

Despite the holiday, buyers signed 15 contracts last week for homes asking $4 million and above.
An English developer is asking $1.4 million for a home with roughly as much living space as a school bus.
A hedge funder and his wife sold their North Bay Road mansion in for $36 million in an off-market deal.
Stephen Ross' Related Companies is on a South Florida shopping and development spree. At a time when many developers and investors are pulling back from the sector, the billionaire's New York-based firm is steadfast on its "Wall Street South" wager.

Watch the video to learn more, and tap here to explore TRD's interactive map of Ross' empire: https://bit.ly/3OKCK7l
- Using a proprietary framework, WiredScore assesses, and improves and throughout buildings. “We work with , and owners-operators to ensure the buildings they are constructing and delivering are future-ready from a technology standpoint, thereby ensuring positive tenant outcomes,” he says.

The goal, explains WiredScore Founder and CEO Arie Barendrecht, is to “help real estate adapt and in a world where aren’t just brick or steel boxes, but are tech-enabled computers with roofs on them,” he says. “We are helping landlords deliver the right experience in a world where tech is the core of the real estate offering.”

Read on: https://therealdeal.com/.../future-readying-your.../...
A penthouse in a yet-to-be-built Related Group condo development on , an ultra-wealthy island off , is asking $90 million.
Sometimes it’s dangerous to be a . In recent weeks, one landlord was shot at with a speargun, while another stabbed with a sword.
The Soloviev Group denies it was working on a deal to sell 9 West 57th Street, among 's most prestigious buildings.
Auction dates have been set for the sale of the coveted RB Portfolio, a collection of six walk-up, mixed-use properties situated in some of the most popular areas of New York City.

JLL Capital Markets team led by Chairman, NY Investment Sales Robert Knakal, and Managing Directors Jonathan Hageman, Hall Oster, Guthrie Garvin and Clint Olsen, is leading the marketing campaign.
A hot-air-balloon business, which comes with three properties and about 40 employees, in 's is on the market for $12 million.
As rates fall, agents see a spate of activity from homebuyers who had stepped away when borrowing costs rose.
A developer was revealed as the "bogeyman of p**n," a new documentary claims.
The owners of the NFL's Minnesota Vikings paid $40 million for asset in slumping market.
While foot traffic increased from last year, the average shopper spent less per visit.
- It’s a distinction that allows Holland & Knight to provide superlative counsel and a broader geographic knowledge of norms and customs, all while adhering to the highest standards of legal practice across the firm.

“We can provide consistent service because each practice area works the same way, and we regularly speak and meet with each other to get the benefit of skilled attorneys throughout the firm,” says Partner and New York PGL Stuart Saft. “We aim to create one-stop shopping for our clients.”

Click here: https://bit.ly/3Ejkehe
This , we're offering the biggest deal — ever — on a subscription to . Get one month of unlimited access to award-winning news that covers every facet of the industry for just $1. ⁠

now here: https://bit.ly/3EJqZJI
⁠For new subscribers only.
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