The Real Deal

04/18/2022

Bronx Apartment Complex is First to Try Waste-Eating Machine

The Peninsula, an affordable, mixed-use development, will use an aerobic digester to convert organic waste into fertilizer. Will it work?

04/18/2022

Halo Top Founder Doug Bouton sells Lincoln Park mansion

The founder of ice cream brand Halo Top is selling his Chicago home.

Doug Bouton and his wife Jennifer Mellen, sold their house on Kenmore Avenue

04/18/2022

Dallas to Pay $358K to Address Hotel’s 30-Ton Pegasus Dilemma

One final agenda item remained before the Dallas City Council was able to break for lunch on Wednesday: a 30-ton red Pegasus.

The City Council asked why Magnolia Hotel isn’t responsible for keeping the 88-year-old winged horse airborne, but approved the spending.

04/17/2022

Check out our editors' favorite stories of the week.

1. Real estate investors eye student housing as college dorms come up short
READ: https://bit.ly/38YAk44
2. Trump Tower condo shielded from ex-wife up for auction
READ: https://bit.ly/3vmxT2N
3. It’s official: Miami-Dade declares housing crisis. Here’s what it means for renters, landlords
READ: https://bit.ly/3uRiXuC
4. Amazon’s biggest U.S. warehouse deal ever comes to Inland Empire
READ: https://bit.ly/3jOhpLA
5. Chicago’s proposed mansion tax faces less opposition than previous efforts
READ: https://bit.ly/38XQlY2
6. Stamford luxury loft conversion a “disaster,” must be torn down
READ: https://bit.ly/3EkE4Zl
7. Presidio Heights flip could be SF’s priciest sale of year
READ: https://bit.ly/3OgcWix
8. Austin developer promises deal to save city’s oldest gay bar
READ: https://bit.ly/37qAalx

#TheRealDeal ⁠#RealEstateNews #TopStories #EditorsPick #ICYMI

04/17/2022

Earlier this month, New York landlords pitched a deal for Albany. They would fix up and return 20,000 rent-stabilized apartments to the market. In return, lawmakers would give them a way to pay for it — by allowing for a vacancy “reset” on rents. So, do you think New York should change the rules so landlords can raise the rents of rent-stabilized apartments that are vacated?

Weigh in below, and find more engaging conversations when you join our subscribers-only newsletter, the Daily Dirt, at the link: https://bit.ly/3M5HyRS

#TheRealDeal #RealEstateNews #RealEstate #HousingMarket #DailyDirt

04/17/2022

Buyers inspired by one of the richest people in the world can see if the magic of Warren Buffett’s former home can rub off on them.

Buffett’s former three-bedroom home in the Dundee neighborhood of Omaha, Nebraska, is on the market for $799,000.

Buffett and his then wife, Susan, rented the 3,300-square-foot home in the mid-1950s for $175 a month. The sunroom features Buffett's own signature commemorating the room as the founding site of Buffett Associates, which largely merged into Berkshire Hathaway.

Tap here to learn more about the property: https://bit.ly/3K36RD3

Agent: Jessica Dembinski, Berkshire Hathaway HomeServices

#TheRealDeal #RealEstateNews #WarrenBuffett #LuxuryRealEstate #ResidentialRealEstate

04/17/2022

NBA star Hassan Whiteside might be known for blocking shots on the court, but away from the hardwood he's hoping to score.

The Utah Jazz center is asking $23 million for his Miami Beach home, more than triple what he paid for it while playing for the Miami Heat in 2016.

The 5,500-square-foot home sits on a 17,000-square-foot lot and includes six bedrooms and six and a half bathroom.

Swipe to see the home, and tap here for more: https://bit.ly/3M7g9za

#TheRealDeal #RealEstateNews #MiamiBeach #HassanWhiteside #CelebHomes #LuxuryRealEstate #CelebHomes

04/17/2022

The penthouses of North Korea’s luxury towers are more like the cheap seats at a baseball game — you’d rather be in the front row.

Reuters reports that new apartments in the capital city of Pyongyang are shunned by the elite there, who instead prefer the safety of low-rise buildings.

Residents and defectors alike point to malfunctioning elevators, lack of electricity and the inability to get water to kitchen faucets and toilets located so high in the sky as the most common problems that plague the city's luxury towers.

Tap here to learn more. https://bit.ly/3uMk12L

#TheRealDeal #RealEstateNews #NorthKorea #LuxuryRealEstate #ResidentialRealEstate

04/16/2022

Crypto billionaires Cameron Winklevoss and Tyler Winklevoss are selling their Soho penthouse.

The condo at 20 Greene Street, believed to have been purchased by the identical twins in 2014, hit the market Friday asking $17 million.

The three-level, 4,300-square-foot unit includes three bedrooms as well as three terraces, a wet bar and a floating staircase.

Swipe to see the penthouse, and tap here for more: https://bit.ly/3uN7ax6

Agent: Steven Cohen and Timothy Malone, Douglas Elliman

#TheRealDeal #RealEstateNews #NewYorkCity #LuxuryRealEstate #ResidentialRealEstate #Winklevoss

04/16/2022

A 1950s-era motel on Long Island’s North Fork that has been seemingly frozen in time has changed ownership after a 12-year battle over control of its beachfront property across 30-acres.

The Silver Sands Motel and Cottages in Greenport was sold on Wednesday for an unspecified price. Located along a private beach at the end of a long wooded road on Peconic Bay, the motel property was cobbled together over the years through the acquisition of land and cottages from neighbors.

Tap here for all the details: https://bit.ly/37Vq3VC

Agent: Judi Desiderio, Town & Country Real Estate

#TheRealDeal #RealEstateNews #NewYork #LongIsland #Hotel #Beachfront

04/16/2022

NFL quarterback Russell Wilson and his popstar wife Ciara are selling their massive Lake Washington mansion as the couple leaves Seattle behind.

The one-acre property hit the market this week asking $28 million and comes on the heels of Wilson's departure from the Seattle Seahawks for the Denver Broncos. The 11,104-square-foot home includes six bedrooms, seven bathrooms, a pro gym and a recording studio. A separate listing shows a neighboring piece of land encompassing just under one acre is asking $8 million.

Swipe to see the home, and tap here for more: https://bit.ly/3OfVpHm

#TheRealDeal #RealEstateNews #CelebHomes #Ciara #RussellWilson #CelebrityRealEstate #LuxuryRealEstate

04/16/2022

JPMorgan Chase revealed the long-awaited plans for its new headquarters at 270 Park Avenue — and it’s electric.

The financial giant unveiled the design of a 60-story, 1,388-foot-tall tower in Midtown East on Thursday. The Foster + Partners-designed building will span 2.5 million square feet. Tishman Speyer is serving as a development partner for the construction, which has already started and is expected to wrap up by the end of 2025.

One of the most notable plans for the building is its total reliance on hydroelectric power, which would make it the largest building in the city to be so.

Swipe to see the tower, and tap here for more: https://bit.ly/3OrCt8P

#TheRealDeal #RealEstateNews #NewYorkCity #Office #JPMorgan #CommercialRealEstate

04/16/2022

Electronic music DJ Zedd has re-listed his 11,000-square-foot home in Beverly Crest for $23 million.

The $3.5 million markdown comes six months after the music producer bought a 15,000-square-foot mansion in Encino for $15.2 million.

The three-acre home at 3000 Benedict Canyon Drive includes five bedrooms, eight bathrooms, an indoor fountain and an infinity pool.

Swipe to see the home, and tap here for more: https://bit.ly/38UNyih

Agents: Jason Oppenheim and Emma Hernan, The Oppenheim Group

#TheRealDeal #RealEstateNews #Zedd #CelebrityRealEstate #LuxuryRealEstate #BeverlyCrest #CelebHomes

04/15/2022

JPMorgan Chase Reveals HQ Plans After Nod To Remote Work

JPMorgan Chase revealed the long-awaited plans for its new headquarters at 270 Park Avenue — and it’s electric.

JPMorgan Chase detailed plans for headquarters at 270 Park Avenue, where it is constructing a 60-story, 1,388-foot-tall tower.

04/15/2022

Luxury Lost: Defect Complaints on Rise in New Residences

Mo’ money, mo’ problems: A growing number of residents in some of New York City’s most luxurious new buildings are complaining that their experiences have been anything but.

Residents in some NYC luxury buildings allege poor construction in pandemic-era buildings with leaks and broken elevators.

04/15/2022

The Real Deal's NYC Real Estate Showcase and Forum is back in the city that never sleeps to cover the industry that never stopped. And we're bringing back all the networking, deal-making and relationship-building our signature event is known for.

General admission gives you access to the full showcase and all conference sessions featuring executive speakers from Douglas Elliman, Savanna Fund, BRP, SERHANT, Fifth Wall, Brown Harris Stevens and more.

VIP passes give you access to all of the above PLUS VIP speaker lounge and a swag bag stuffed with TRD merchandise. Limited passes left, so sign up today HERE: https://bit.ly/3EmzrOf
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⁠#TheRealDeal #RealEstateNews #NewYorkCity #RealEstate #NewYork #TRDForum

04/15/2022

Elon Musk's Tesla-centric Transit Plan for San Antonio

Elon Musk’s tunnel company is pitching a transportation plan involving Teslas traveling in underground tubes.

Elon Musk's tunnel company is pitching a transportation plan involving Teslas traveling in underground tubes.

04/15/2022

A San Francisco home that was formerly owned by “Lucky” Luke Brugnara, a 1990s-era commercial real estate giant who was imprisoned for defrauding an art dealer, could set the mark for priciest in San Francisco so far this year.

The 7,000-square-foot home at 224 Sea Cliff Avenue went into contract this week with a last asking price of $15,375,000.

The Mediterranean-style mansion includes six bedrooms, six bathrooms, two fireplaces and a private staircase that zig zags down a rocky cliffside to the ocean.

Swipe to see the home, and tap here for more: https://bit.ly/38VZHn9

Agent: Mark Levinson, Compass

#TheRealDeal #RealEstateNews #SanFrancisco #ResidentialRealEstate

04/15/2022

$13M Flatbush mansion aims to raise the bar for Brooklyn's luxury market

A $13 million price tag is a hefty ask even for a home in Manhattan. In Brooklyn, those prices are usually reserved for super-high-end, right-on-the-park Park Slope brownstones. But this home, on the other side of the park in Victorian Flatbush, might set a new standard for its neighborhood. Watch to find out why.

A $13 million price tag is a hefty ask even for a home in Manhattan. In Brooklyn, those prices are usually reserved for super-high-end, right-on-the-park Par...

04/15/2022

Lawsuit Resolved Between Nate Paul and Gibson, Dunn & Crutcher

A lawsuit against Austin real estate investor Nate Paul and his firm World Class has been resolved.

04/15/2022

One of NYC’s most closely watched policy debates in the coming months will regard the property tax break known as 421a, which is set to expire in June.⁠
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Tenant advocates say the abatement is a useless loss of tax revenue that should not be replaced or extended. Developers argue it is essential to subsidizing affordable apartments and abating the housing crisis.⁠
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Neither side is telling the whole truth, writes TRD’s senior managing editor Erik Engquist in his latest column.⁠
⁠
Tap here for what fans and foes of the $1.8B tax break are hiding: https://bit.ly/3jOCuoR
⁠
#TheRealDeal #RealEstateNews #NewYorkCity #Taxes #RealEstatePolitics #TRDQuotes

04/15/2022

Lumber Prices Hit 2022 Low

If prices fall in the forest, do they even make a sound? A dip for lumber might sound triumphant to weary homebuilders.

The price of lumber dropped after rising mortgage rates and growing inflation emerged as factors hampering the commodity market.

04/15/2022

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04/15/2022

Miami Posts Biggest Two-Year Rent Spike in U.S.

Miami led the U.S. in rent hikes during the pandemic.

Miami led the nation in rent hikes over the past two years, as rates increased 58 percent to a median of $2,988 per month.

04/15/2022

NYU Latest to Sue Over Soho Rezoning

New York University is suing to eliminate a provision blocking schools and universities from taking advantage of the Soho rezoning.

New York University is looking to eliminate a provision blocking schools and universities from taking advantage of the rezoned area.

04/15/2022

For many Texans, the local rental market has become a battlefield

Rent hikes, red tape and double deposits abound in one of the country’s most booming housing markets.

Scams, rent hikes and double deposits abound in one of the country’s most booming housing markets

04/15/2022

High Times for Retail: Cannabis Businesses Start Looking For Space

As NYC heads towards marijuana legalization, landlords have to decide whether they'll accept a tenant in a sticky new sub-sector. Meanwhile, business owners are faced with the challenge of where to put their shops. Watch for more.

As NYC heads towards marijuana legalization, landlords have to decide whether they'll accept a tenant in a sticky new sub-sector. Meanwhile, business owners ...