The Real Deal - New York Real Estate News

Jeb Bush lists Coral Gables home for $1.8M

Posted: 03 Mar 2019 01:00 PM PST

Former Florida Gov. Jeb Bush is looking to sell his luxury townhouse in Coral Gables. Bush and his wife, Columba, listed their 3,485-square-foot, four-bedroom home on Almeria Avenue for $1.8 million, according to Mansion Global. They paid $1.3 million for the home in 2011. It’s part of a group of 10 luxury townhouses in 2007. Lani Kahn Drody and JJ Snow Hansen from Lowell International Realty have the listing. The Coral Gables townhouse features a […]

Couple claims their $43K-per-month rental was infested with vermin

Posted: 03 Mar 2019 12:30 PM PST

Georgia couple Darrell and Tara Mays claim their pricey Upper East Side rental became a nightmare filled with rats — both dead and alive. The couple filed a lawsuit stating that their swanky 10,000-square-foot townhouse, which they rented for $43,000 a month, was “extraordinarily and truly infested with vermin” and accusing the owners of fraud, according to the New York Post. The couple’s suit claims that over the six months in which they resided in […]

Chinese real estate investments face mounting debt concerns

Posted: 03 Mar 2019 12:00 PM PST

As half-finished real estate projects span throughout parts of rural China, investors are seeking to collect on their debt payments. Investors bought debt in areas outside the major Chinese cities are now growing worried about getting their money back amid a weakening economy and tighter regulations on bank lending, according to the Wall Street Journal. Local governments in China along with more than 2,000 financing companies have trillions of dollars of debt that have now […]

Buyers are going crazy over this rat-plagued bungalow

Posted: 03 Mar 2019 11:00 AM PST

In a housing market as hot as Southern California’s, there’s evidently little that will scare off potential buyers. Proof: a 1920s bungalow in dire need of a comprehensive rehab and with an apocalyptic rat problem to boot in Orange, California got eight offers in under a week on the market, agents told the Orange County Register. As of Thursday, the home was reportedly in escrow. The former owner was known to collect junk and managed […]

Mobile apps for home buyers raise privacy issues by sharing data with Facebook

Posted: 03 Mar 2019 10:30 AM PST

Mobile software applications that consumers use to shop for homes are sharing data with Facebook, raising doubt about control over personal privacy. For example, an app for Realtor.com delivers information to Facebook about the prices and locations of homes that consumers have viewed. Facebook receives such information even if users of the Realtor.com app are not logged into their Facebook account or lack such an account. In an email, a spokesperson for Zillow said the […]

Despite Brexit, London retains top global rank for commercial real estate investment

Posted: 03 Mar 2019 10:00 AM PST

London last year remained the top city in the world for investment in commercial real estate, despite concerns about Brexit, according to Frank Knight. As the United Kingdom prepared to exit the European Union, London last year attracted £16.2 billion ($21 billion) of investment in commercial office buildings. That exceeded 2018 commercial office investments totaling £14.3 billion ($18.5 billion) in Manhattan, £12.1 billion ($15.6 billion) in Paris and £8.4 billion ($10.8 billion) in Hong Kong. […]

Cohen’s testimony brings Trump Organization CFO — and his family — into the limelight

Posted: 03 Mar 2019 09:47 AM PST

A long-time Trump Organization executive, who got his start with the Trump family as an accountant for Fred Trump, is “probably” going to get called to appear before the House Committee on Oversight and Reform. President Donald Trump’s long-time accountant and Trump Organization CFO Allen Weisselberg was mentioned over 20 times in Michael Cohen’s testimony before Congress last week, the New York Times reported. Based on that testimony, Weisselberg’s role in the president and his […]

Owned but unoccupied homes account for more than a fifth of China’s urban housing

Posted: 03 Mar 2019 09:00 AM PST

China has millions of unsold homes in so-called “ghost cities” that were built near such large cities as Beijing and Shanghai but failed to attract residents. But China also has tens of millions of housing units that have been sold, many of them to speculative investors who are not planning to occupy or rent them out. Emory University economist Kaiji Chen, who analyzes the Chinese housing market, calls these sold but vacant housing units “ghost […]

Downtown Chicago is seeing a surge in new apartments — is it enough?

Posted: 03 Mar 2019 08:00 AM PST

Chicago is expected to get nearly 8,000 new apartments in the next three years, but a new report suggests that may not be enough to meet demand. A near-record of 4,200 new apartments are expected to come online this year, but that number will slow to 3,500 in 2020 and 2021, according to a forecast from consultant Integra Realty Resources reported by the Chicago Tribune. But growing political uncertainty and rising property taxes could curtail […]