The Real Deal - New York Real Estate News

Fancy a dip? Here’s how much value pools add to homes

Posted: 06 Apr 2019 01:00 PM PDT

How much extra would you pay for a house with pool? In Los Angeles, a pool can add over $95,390 to a property’s value, while in Austin, Texas, the water feature could boost the value by over $50,220, a new analysis by Redfin has found. To work out how much value a pool can add to a home, Redfin ranked metro areas where at least 5,000 homes had sold in 2018 and more than 2 […]

Contractor accused of scamming homeowners with “granny flat” scheme

Posted: 06 Apr 2019 12:00 PM PDT

Los Angeles is suing a local contractor, alleging the company defrauded homeowners of more than $1 million in a scam involving the construction of so-called “granny flats.” The L.A. city attorney filed the suit against Eco Solar Home Improvement of Montebello and affiliated companies. The Los Angeles Times first reported on the filing, which City Attorney Mike Feuer announced Thursday. The city charges that Eco Solar pushed homeowners into taking out government-backed loans they could […]

How Airbnb is taking on local competitors amid push into China

Posted: 06 Apr 2019 11:00 AM PDT

Airbnb is making a big push into China, hoping to plant a flag in the country’s nascent home-sharing market. Unlike some of its competitors, Airbnb has built its own operation in China, instead of partnering with a local company. The home-sharing giant now has 300 employees in the country and co-founder Nate Blecharczyk is at the helm as chairman, according to the Wall Street Journal. There’s strong competition in China — Airbnb currently has just […]

The Reuben brothers have paid about $117M for a London office building

Posted: 06 Apr 2019 10:00 AM PDT

The Reuben brothers have spent about $117 million to purchase an office building in London, a sign of strength for the market despite the uncertainty and chaos surrounding Brexit, experts say. David and Simon Reuben purchased 100 Pall Mall in Central London for almost 90 million pounds, according to the United Kingdom’s Evening Standard. The price works out to about $117 million. The seven-story building spans 60,620 square feet, and its tenants include the planning […]

Beach club owner takes a stand against social media influencers

Posted: 06 Apr 2019 09:00 AM PDT

A beach club owner in the Philippines is pushing back against social media influencers asking for free food, drinks and lodging. Gianluca Casaccia, the manager and co-owner of the White Banana Beach Club, posted on a message on Facebook dissuading influencers from reaching out to him: “We are receiving many messages regarding collaborations with influencers, Instagram influencers. We kindly would like to announce that White Banana is not interested to ‘collaborate’ with self-proclaimed ‘influencers.’ And […]

How institutional investors are factoring climate change into real estate deals

Posted: 06 Apr 2019 08:00 AM PDT

The impacts of climate change are spurring institutional investors to consult imaging maps, computer models and big data to help make decisions about whether or not to buy real estate in Miami, New York and other major coastal cities around the world, according to real estate experts. At a a sea level rise conference Thursday hosted by the law firm Hinshaw and Culbertson LLP, keynote speaker Billy Grayson said the National Oceanic and Atmospheric Administration’s […]

Bond Collective eyes Chicago and beyond for its co-working expansion

Posted: 06 Apr 2019 07:00 AM PDT

Bond Collective is the latest co-working firm expanding to Chicago, with plans to add 100,000 square feet of luxury shared offices in the city this year. The New York-based firm plans to open a 68,000-square-foot location in the Civic Opera Building, 20 North Wacker Drive and a 31,000-square-foot space at 1101 West Lake Street in Fulton Market, CEO Shlomo Silber told the Chicago Tribune. Bond Collective, founded in 2015 as Coworkers, has locations in Manhattan, […]

Qatari consulate-linked entity pays $28M for Beverly Hills mansion

Posted: 06 Apr 2019 06:00 AM PDT

An entity tied to the Consulate General of Qatar has paid $27.5 million for a newly-built mansion in Beverly Hills, The Real Deal has learned. The sale price was 20 percent less than what the estate was initially listed. Developers John Safi of Safco Capital Corporation and Kamran Gharibian sold the home on Laurel Way, deed records show. They also built the estate in 2017, which appears to have been developed on spec. Safi declined […]