The Real Deal - New York Real Estate News

Dominating Deal: The homes NYC’s Syrian Jewish real estate moguls own in this NJ hamlet

Posted: 03 Sep 2018 03:00 PM PDT

It’s not news in this industry that the tiny Jersey Shore hamlet of Deal is a magnet for Syrian Jewish real estate moguls. But just how much of Deal they actually own might surprise you. The so-called “SY” community, as Brooklyn-based Syrian Jews are sometimes called, has a near-lock on high-end property in the town. That’s especially true along the oceanfront, where a handful of powerful real estate families have set up side-by-side family compounds. […]

Long Island Cheat Sheet: RXR Realty and BSE Global join forces on Nassau Coliseum project … & more

Posted: 03 Sep 2018 02:00 PM PDT

RXR Realty and BSE Global join forces on Nassau Coliseum project Executives from RXR Realty and BSE Global met last week, ultimately agreeing to a joint venture to potentially redevelop the area around the Nassau Coliseum, according to the Long Island Business News. BSE leases the uniondale site from Nassau County and operates the arena itself. The move puts RXR in a favored position to win the bid for the redevelopment project, for which the […]

Deep discounts: The luxury market has seen $1B in price cuts

Posted: 03 Sep 2018 01:00 PM PDT

The market has seen steep price cuts amid the new tax law and fewer foreign buyers, CNBC reported. More than 500 listings had a combined price reduction of $1 billion in the second quarter, the report said. “Prices were growing too fast for what buyers were willing to pay,” Taylor Marr, a senior economist at RedFin, told CNBC. Of homes listed for $10 million or more, 12 percent saw a price drop. That’s doubled from […]

Australia’s finance industry is awash in scandal. And real estate could suffer

Posted: 03 Sep 2018 11:00 AM PDT

A government-ordered investigation into Australia’s financial industry has uncovered multiple scandals, ranging from bribery to charging dead people for services. The investigation began in March and also found that Australia’s bankers lied to regulators and dispensed investment advice that was so bad it lost some customers their homes, according to Bloomberg. The inquiry revealed thousands of violations, and some of them might lead to criminal charges. Banking leaders in the country have apologized, but the […]

The next High Line could be built … over the Prospect Expressway?

Posted: 03 Sep 2018 09:00 AM PDT

The next High Line could be built above the Prospect Expressway. “PX Forward,” a new report commissioned by Brooklyn borough president Eric Adams and conducted by graduate students at New York University, provides a few different visions for the 2.3-mile thoroughfare in Park Slope and Windsor Terrace. One recommendation is the creation of an above-ground linear park, dubbed “Prospect Path,” alongside the expressway, which would include lanes for pedestrians and bicyclists, as well as seating […]

Architecture review: Arthur Ashe Stadium serves up function over flash

Posted: 03 Sep 2018 07:00 AM PDT

There’s a famous passage in “The Great Gatsby” that begins, “About half way between West Egg and New York the motor-road hastily joins the railroad and runs beside it for a quarter of a mile, so as to shrink away from a certain desolate area of land. This is a valley of ashes — a fantastic farm where ashes grow like wheat into ridges and hills and grotesque gardens…” The valley of ashes was not […]

“We’re coming after you”: Compass broker leaves threatening voicemail for competitor

Posted: 03 Sep 2018 05:00 AM PDT

As far as hard-fought competition between brokers goes, an incident in San Diego may have crossed the line after a Compass broker threatened harm against a competitor with a menacing voice message. The dispute started after a Reali broker reportedly erected a sign advertising the firm’s flat-fee services in front of an open house that was being sold by a Compass broker, according to Inman. “Yo. This is a message for Roger Cummings, the broker […]