The Real Deal - New York Real Estate News

Could opportunity zones eclipse or dovetail with EB-5?

Posted: 22 Sep 2018 05:55 PM PDT

NES Financial, a FinTech company perhaps best known in certain real estate circles for providing compliance and reporting services under the EB-5 investor visa program, is officially on the opportunity zone (OZ) bandwagon. Sometime over the past month, NES added a new “OPPORTUNITY ZONES” tab to their website, effectively announcing a new line of services. And in mid-September, NES’ executive vice president Reid Thomas, who heads up the company’s EB-5 division, hosted a webinar on how […]

Sales for Cary Tamarkin’s UWS luxury condo to begin without price adjustment

Posted: 22 Sep 2018 11:34 AM PDT

Cary Tamarkin isn’t bending on his targeted sellout of $161 million. Despite the glut of luxury homes flooding the market, the developer is launching sales on his Upper West Side luxury building at 555 West End Avenue and asking the same prices he announced in 2015, according to Bloomberg. The cheapest apartment starts at $7.9 million while the building’s two penthouses are asking $18 million and $22.5 million apiece. “I’m banking on it being very […]

What’s a degree worth? A third of homeowners say they’d borrow against their homes to pay for it

Posted: 22 Sep 2018 10:36 AM PDT

Homeowners across the country have about $5.8 trillion in equity and–notwithstanding some hesitancy–there’s some surprising ways they plan on using it. Chief among them is to get a degree. In a recent survey, one of the most common reasons to borrow against a home was to pay off student debt or other education-related costs, according to Bankrate.com as cited by CNBC. Nearly a third of homeowners who responded said they believed that loans to pay […]

Winter is coming: Rockwell Group to build pop-up “village” at Pier 17

Posted: 22 Sep 2018 09:10 AM PDT

The revamped South Street Seaport district will soon be a year-round hub–at least for winter 2018-19. Rockwell Group got approval from the Landmarks Preservation Commission earlier this week to build a pop-up “winter village” on top of Howard Hughes Corporation’s Pier 17 development, according to Architect’s Newspaper. The project includes an ice rink, a warming hut, restaurants and cafes. HHC has been signing leases with major chefs and ESPN over the past several months and […]

Should’ve known better: Richard Marx relists lakefront mansion for half original price

Posted: 22 Sep 2018 08:15 AM PDT

Singer-songwriter Richard Marx and his ex-wife, actress Cynthia Rhodes, slashed the asking price on their North Shore mansion for the fifth time. They are now asking $9 million for the 29,000-square-foot Lake Bluff estate, half of what they first sought in 2014, according to Crain’s. Marx and Rhodes married in 1989 and bought the lakefront property in 1997 for a little more than $3.1 million. They added an 8,000-square-foot building that includes a music studio, […]

What to do with Europe’s dying towns?

Posted: 22 Sep 2018 07:38 AM PDT

Thousands of towns across Europe (and even Japan) are on the verge of becoming ghost towns, but a handful of hoteliers are trying to reverse the trend. By transforming vacant buildings into resorts based on the local way of life, the beleaguered communities are trying to attract tourism dollars that could at least some people to stay in their towns instead of heading to cities, Bloomberg reports. The exodus of residents from small towns to […]

This Seagram heir tied to alleged sex cult wants to build a five-story resi complex

Posted: 22 Sep 2018 06:00 AM PDT

Seagram beverage company heir Clare Bronfman wants to develop a 46-unit residential building in Encino, even as she fights criminal charges in federal court over her involvement in an alleged sex cult. An entity tied to Bronfman is seeking to build at 4717 N. Libbet Avenue. The five-story complex would have four units set aside for low-income renters. Parking for 60 cars would be located underground. Federal prosecutors allege that Bronfman was the chief financier […]