The Real Deal - New York Real Estate News

Billionaire Henry Kravis’ 19K sf ranch is on the market

Posted: 12 Jan 2019 01:00 PM PST

Want to ride horses, hunt big game, play golf, and fly in a helicopter, all in the same day? Then this $46 million luxury ranch in Colorado is for you. The seller, Henry Kravis, co-founder of investment company KKR, has an estimated personal net worth of approximately $5.4 billion, according to Forbes. He bought the property for $5.5 million in 1991, according the Wall Street Journal. The ranch, known as “Westlands,” spans about 4,600 acres […]

Wells Fargo alleges Related Companies’ SoFla project gave misleading information to appraiser tied to $150M loan

Posted: 12 Jan 2019 12:00 PM PST

The long-running dispute between Related Companies’ CityPlace in West Palm Beach and its lenders over a $150 million loan just took another turn this month. Wells Fargo, a trustee for CityPlace’s lender Credit Suisse Commercial Mortgage, is alleging that CityPlace’s appraisal for its loan was based on misleading and inaccurate information given to its appraiser in a counterclaim filed in a Palm Beach County Circuit Court on Jan. 2. CityPlace allegedly concealed information to Cushman […]

Compass is growing its footprint in Colorado

Posted: 12 Jan 2019 11:00 AM PST

Compass is continuing its national expansion with two more locations. This time, in Denver and Boulder. The brokerage is launching in the Colorado markets with a team of agents who have sold more than $400 million worth of property in the past year, Compass said in a statement. The move adds to Compass’ existing footprint in Colorado, which includes Aspen and Telluride. The firm will be opening flagship offices in the two markets in the […]

With Brexit on the horizon, Frankfurt’s office market breaks records

Posted: 12 Jan 2019 10:00 AM PST

Ever since the Brexit referendum, Germany’s financial capital has been positioning itself to receive an influx of London bankers. With just months to go until the split is official, those ambitions have pushed Frankfurt’s commercial real estate market to record heights. Frankfurt-based state-owned bank Helaba predicts that as many as 25 banks, including Goldman Sachs, Citi, JPMorgan and Barclays, will move operations and staff from London to Frankfurt, reported the Financial Times. In the long […]

Lin-Manuel Miranda writes new ending for bookstore that could no longer afford its rent

Posted: 12 Jan 2019 09:00 AM PST

Lin-Manuel Miranda is not throwing away his shop. Miranda and three of his collaborators from “Hamilton” have purchased the Drama Book Shop in Times Square in an attempt to keep the store open, according to the New York Times. The store has been a staple of the New York theater scene for years but struggled to survive in Times Square and had recently announced that it would have to move from its current location at […]

You can buy John Denver’s Colorado mansion for $11 million

Posted: 12 Jan 2019 08:00 AM PST

John Denver’s Rocky Mountain hideaway is available to any fan with pockets deep enough. The five bedroom mansion is a gated community on 570 Johnson Drive, and spans 7,735 square feet, according to The Denver Post. The late folk singer lived in the compound in the 1970s, after his most famous song, “Take Me Home, Country Roads,” hit the billboard charts. After his death in 1997 at age 53 in a plane crash in Monterey […]

Despite discounts, Snap Inc. struggles to sublease its initial office properties

Posted: 12 Jan 2019 07:00 AM PST

When Evan Spiegel and his handful of employees outgrew his father’s Pacific Palisades house in 2012, they expanded Snap Inc.’s operation to a quaint beachfront bungalow on Ocean Front Walk. The “Blu House” would serve as the headquarters for the tech company that created Snapchat, a social media platform which allows users to send messages that disappear after they’re viewed. It only took a year for Snap to outgrow the bungalow, taking up a series […]

Tishman Speyer selling Playa Vista office portfolio for $600M plus: sources

Posted: 12 Jan 2019 06:00 AM PST

Tishman Speyer has gone on a selling spree. The New York-based firm will be listing the Brickyard and Collective office campuses in Playa Vista as early as next week, The Real Deal has learned. Sources say the bids could range from $600 – $650 million for both properties. They are currently both leased by coveted tech tenants, Facebook and Yahoo. Together the properties span 620,720 square feet in total. Tishman declined to comment. Eastdil Secured, […]