The Real Deal - New York Real Estate News

Oprah’s new digs: a $8M estate in Washington

Posted: 09 Jun 2018 02:50 PM PDT

From TRD Chicago: Oprah Winfrey buying your house is pretty much a dream come true for a sentimental seller. “She will be a good caretaker,” said Kathleen Dickinson McDowell, the former owner of the 43-acre waterfront estate Winfrey purchased, to the Puget Sound Business Journal. “That is what I was most concerned about. But Oprah knows how to take care of a place like this. She has many wonderful homes.” McDowell had lived in the […]

What do with dying golf courses? Let the NIMBY wars begin.

Posted: 09 Jun 2018 01:42 PM PDT

With about 10 million less golfers than there were circa 2002, the question of what to do with hundreds of acres of former courses has revealed something of a dilemma. Former golf courses are arguably the best sites for new housing developments; as City Lab puts it, they are surrounded by wealthy communities with good schools and, likely, solid job opportunities, but neighbors don’t seem open to the idea. Most old golf courses, perhaps because […]

Could this be the next hot spot for securing EB-5 investment?

Posted: 09 Jun 2018 12:40 PM PDT

Brazil could be the new China for EB-5 investment apparently. Industry sources cited in a recent Daily Business Review op-ed by EB lawyer Julián Montero claim the Brazilian market is untapped with a large pool of wealthy individuals with the means and motivation to invest in the EB-5 investor visa program. “The 282 immigrant visas granted to Brazilian nationals last year are not even a drop in the bucket compared to the potential the market […]

For $20M, this 15th-century castle and three Napoleon-era forts could be yours

Posted: 09 Jun 2018 10:46 AM PDT

Mike Clare, who made his fortune selling his bed and mattress retail company in 2008, has declared a Brexit of his own it seems. The millionaire is putting four historical properties located in Scotland and England that date from the 15th to 19th century on the market for a combined $20 million, according to House & Property. One of the properties is Ackergill Castle, a 15th-century castle in northern Scotland with 32 bedrooms, a bar […]

Kanye West to be “one of the biggest real estate developers of all time”

Posted: 09 Jun 2018 09:45 AM PDT

Forget about albums, Kanye West now drops renderings. The rapper turned designer, entrepreneur and now developer revealed his newly-formed architecture studio’s first project, a prefabricated affordable housing scheme, via one of his collaborator’s Instagram account this week, according to the Architect’s Newspaper. The public release of the renderings come weeks after West filmed an interview where he spoke about his plans to build a real estate empire. In a lengthy taped conversation between him and radio and […]

American household wealth hits record high due to home prices

Posted: 09 Jun 2018 06:59 AM PDT

Despite a rocky ride on the stock market, rising home prices have carried American wealth to new heights in 2018. In the first quarter of the year, the Federal Reserve pegged the worth of household and nonprofit wealth at $100.77 trillion, a jump from last year’s $99.74 trillion, according to the New York Post. Household debt clocked in at an annual increase of 3.3 percent with a spike in the fourth quarter of 2017 attributed […]

For second year, major Hong Kong REIT buys back shares

Posted: 09 Jun 2018 06:16 AM PDT

The announcement that one of the region’s largest REITs is buying back shares again, comes after the company sold 17 malls for nearly $3 billion. According to the South China Morning Post, Link REIT will buy back 80 million shares for a cost of $743 million — the calculation was based on Wednesday’s closing price, which dipped 0.7 percent after the announcement. Last year, the REIT bought back 64.5 million of its shares. Considered among […]