The Real Deal - New York Real Estate News

Ever wondered who used to live in your house? Here’s one way to find out

Posted: 26 May 2018 03:03 PM PDT

From TRD Los Angeles: David Silverman spends his time tracking down the minutiae of Los Angeles residences for modern-day billionaires curious about their historic homes. “I essentially print one copy of the book for the owner,” he told the Los Angeles Times. “It tells the story of their house and all the owners from the time it was built until today.” Typically, the homes have a Hollywood connection, but Silverman goes far beyond just relaying […]

Here’s how Soho resi listings are faring in Manhattan’s crowded luxury market

Posted: 26 May 2018 02:31 PM PDT

Soho prices have been suffering for a few years now, and a recovery doesn’t seem to be in sight. According to the Financial Times, transaction amounts in the top of the market decreased by almost half between 2014 and 2015 citing data analyzed by Christie’s International Real Estate. Fast-forward to 2017 and, though gains were made, sales still came in at almost 20 percent under the market’s peak. Christie’s brokers estimate concessions in the market […]

Where France’s wealthy go to escape taxes

Posted: 26 May 2018 01:24 PM PDT

The grassy, well-coiffed neighborhood is home to diplomats and a large proportion of French expatriates who’ve moved in to escape taxes. The trend began in 2000 with French nationals wanting to avoid tax on wealth over about $1.5 million and accelerated in 2012 when the new president François Hollande pledged to create a 75 percent tax bracket for wealth over $1.2 million, according to Mansion Global. The result was a mini-exodus of high-worth individuals to […]

HNA sells San Fran office tower to Northwood Investors for $300M

Posted: 26 May 2018 12:27 PM PDT

The latest property to change hands in HNA Group’s fire sale of its global assets is a San Francisco office tower at 123 Mission Street. The building, which was the Chinese conglomerate’s first property on the West Coast, was sold to Northwood Investors for about $300 million, according to a source familiar with the deal. Located in San Francisco’s SoMa neighborhood, HNA Group North America, a subsidiary of HNA Group, bought the property in August […]

Failure to launch: When parents go to court to evict their son

Posted: 26 May 2018 10:36 AM PDT

Like many millennials, Michael Rotondo, still lived with parents up until this week when they took the unusual step of evicting him. Rotondo has lived in his parents’ home for the past eight years without paying rent or assisting with property maintenance and, in February, he began receiving notices from his parents asking for him to leave their residence in Camillus, New York, according to CBS News. “After a discussion with your Mother, we have […]

Portugal’s investor visa is having some unintended consequences

Posted: 26 May 2018 10:03 AM PDT

Portugal’s reputation as a vacation spot and a deal for real estate investors has been steadily growing, but the dark side to its successful strategy is chaffing on locals. Evictions of long-time residents are on the rise as foreign buyers and tourists flood the country, according to the New York Times. The 2011 lift of a rent freeze liberalized the market and so, in combination with Portugal’s program to offer property investors who pour in […]

What this blockchain experiment in Bushwick means for RE investors

Posted: 26 May 2018 08:55 AM PDT

A run-of-the-mill three-story Bushwick rental is suddenly the poster child of innovation led by Brooklyn-based company, Meridio (formerly Pangea), which is trying to introduce blockchain technology to New York’s housing market. The premise of Meridio’s disruption, backed by ConsenSys Media, is focused on how investors manage their ownership stakes. According to the New York Times, Meridio’s experiment involves introducing a cryptocurrency token for the eight current investors who own the Bushwick property at 304 Troutman […]

If life were a TV show, here’s how much rent you’d pay

Posted: 26 May 2018 06:26 AM PDT

Though it’s not often central to the plot, your favorite characters pay rent — at least most of them. ForRent.com broke down how much characters in five Netflix Original shows paid versus real market conditions in the neighborhood to find that some plots unexpectedly took liberty with the facts, while others stuck pretty close to reality. Here’s a look at how much the rent bill was on various shows. — Erin Hudson Arrested Development – […]