The Real Deal - New York Real Estate News

Hong Kong real estate investors are hot for co-living in cooling housing market

Posted: 27 Jan 2019 01:00 PM PST

One beneficiary of Hong Kong holding the title as the world’s least affordable housing market: co-living investors. More Hong Kong and institutional investors are putting money into co-living properties due to an increase in demand, as well as smaller returns in traditional real estate investments, according to the South China Morning Post. A massive uptick in property prices over the past ten years has made it more difficult for investors to make profit on new […]

Multibillion-dollar buyout of U.S. company linked to deadly London tower fire called off

Posted: 27 Jan 2019 12:00 PM PST

The multibillion-dollar sale of Arconic, which manufactured flammable panels tied to the deadly London tower fire in 2017, fell through after the company’s board rejected offers from private equity firms, including Apollo and Blackstone. Apollo had even secured financing on Wall Street to fund the deal, offering Arconic $22.20 per share, according to the Financial Times. The Philadelphia-based manufacturing company supplied the cladding panels fitted to the outside of the Grenfell Tower in West London, […]

UPS extending keyless entry at apartment buildings to 10 more cities

Posted: 27 Jan 2019 11:00 AM PST

United Parcel Service Inc. will expand its use of keyless-entry technology to deliver packages at apartment buildings. After successfully testing the technology in New York and San Francisco, UPS will extend keyless entry to 10 other cities – including Miami, Los Angeles and Chicago – by mid-2019. UPS is using keyless-entry technology developed by New York-based Latch. It allows UPS to send a code to a delivery truck driver’s hand-held computer, which the driver can […]

Deal would make CapitaLand the largest diversified real estate company in Asia

Posted: 27 Jan 2019 10:00 AM PST

A major acquisition would make Singapore-based CapitaLand Ltd. the largest diversified real estate company in Asia, according to the company’s new chief, Lee Chee Koon. Lee, 43, has led CapitaLand into new markets including the United States and Europe since he became the chief executive of the Singapore-based company in September. But CapitaLand’s most transformative deal under Lee’s leadership would be its planned acquisition of subsidiaries of Temasek Holdings Pte for S$6 billion ($4.4 billion). […]

Wealthy families look to smaller cities for bigger returns on real estate investments

Posted: 27 Jan 2019 09:00 AM PST

Wealthy families are seeking real estate investments in smaller cities with bigger potential returns than trophy assets in the biggest cities. For example, a Bahrain family who made a fortune in the auto industry invests in U.K. real estate through an entity called Riverton Capital Holding, and its portfolio increasingly includes properties outside central London. Among other properties in Riverton’s portfolio is Beacon House, a four-story, red-brick office building a one-hour drive from the core […]

Rothschild family sells last of its Austrian empire for more than $105M

Posted: 27 Jan 2019 08:00 AM PST

The Rothschild family, which held Europe’s largest private fortune in the early 20th century, has sold the last piece of its Austrian empire 200 years later. The deal was worth more than $105 million, Bloomberg reported. The two trusts that were sold covered some 17,300 acres of forest land in the Lower Austria region. The buyer was Vienna-based packaging firm Prinzhorn Holding GmbH, which also bought an adjacent property from the family last year. The […]

Tony Hawk says traditional real estate agents will go “extinct”

Posted: 27 Jan 2019 07:00 AM PST

Home Bay turned to a Southern California legend and some provocative language to advertise its flat-fee brokerage model. The San Francisco-based company, which looks to streamline the listing and selling process through its online platform, hired skateboarder Tony Hawk to pitch its service, according to Inman. The new ad features Hawk and Mike McGill, another influential skater, at the latter’s new home discussing how McGill was able to score such a nice house. McGill replies […]

Stronach family feud continues with daughter’s countersuit

Posted: 27 Jan 2019 06:00 AM PST

Belinda Stronach, former Magna International CEO, has filed a countersuit against her father Frank Stronach — the latest episode in a complex and highly expensive family feud. In October, the elder Stronach filed a 73-page lawsuit against his daughter and other family members for $400 million, claiming they mismanaged the family’s assets and limited his control. The Canadian family built an empire off manufacturing auto parts. The Stronach Group, a Magna-related company, own prime real […]