The Real Deal - New York Real Estate News

Empty buildings in “China’s Manhattan” could mean trouble for growth in the country

Posted: 14 Apr 2019 01:00 PM PDT

“China’s Manhattan” is having a hard time attracting residents. In the country’s Yujiapu Financial District, about 80% of the office space is empty, and construction on multiple buildings has stopped, according to the New York Times. The vacant city could represent a breakdown of the growth model that has fueled China in recent years. The country has mainly focused on selling large amounts of land to developers and borrowing to subsidize construction, which has resulted […]

Couple appear on “Trading Spaces” again after first “terrible” makeover

Posted: 14 Apr 2019 12:00 PM PDT

The second time proved to be a charm for Kelly and Mary Geerts, a couple who made a return appearance on TLC’s “Trading Spaces” after a “terrible” experience almost two decades ago. The couple were on the show in 2001 and ended up with a bright yellow living room with canary-colored curtains, zebra-print furniture and a suspended buffet table, according to the Chicago Tribune. They were not fans. “I was so shocked that I just […]

For sale: Indiana vacation town

Posted: 14 Apr 2019 11:00 AM PDT

Real estate brokers love to call their listings “one of a kind,” but there’s a property that’s just hit the market in Indiana that is truly like no other. The entire town of Story, Indiana is up for sale for the first time in 20 years, according to the New York Post. Owner Rick Hofstetter is asking $3.8 million. Story was founded in the mid-1800s by Dr. George Story. It was once a bustling lumber […]

Airbnb will no longer delist Jewish settlements in the West Bank

Posted: 14 Apr 2019 10:00 AM PDT

Airbnb won’t take down Jewish settlements in the West Bank that are listed on its website after all. The move drew condemnation from Palestinians, who have long wanted the disputed region for an independent state, Reuters reported. Chief Palestinian negotiator Saeb Erekat said the announcement “signals the complicity of the company with the systemic denial of our inalienable right to self-determination,” according to the report. The move reverses a prior announcement Airbnb made last year, […]

Startup reduces home design to a few clicks

Posted: 14 Apr 2019 09:00 AM PDT

A Texas company is offering a software tool that allows buyers to customize new homes on a personal computer prior to construction. Austin-based myHouseby has partnerships with home builders that enable buyers to virtually compare floor plans and select the architectural style, room types, interior finishes and landscaping they want, according to Inman. The tool also allows virtual tours of the customized home. Builders can also buy access to myHouseby for the platform’s consumer trend […]

Singapore fund slashes stake in India’s biggest commercial developer

Posted: 14 Apr 2019 08:00 AM PDT

The Singapore government sharply reduced its equity stake in DLF Ltd., the largest commercial real estate developer in India. Singapore’s sovereign wealth fund GIC sold 68 million shares of DLF in open-market transactions, cutting its stake in DLF to 0.3 percent of total shares outstanding from 4.11 percent, according to Bloomberg. The shares traded for 191 rupees each in a bulk sale. The transaction may stem largely from an effort by GIC to rebalance its […]

These cities had the biggest housing price increases last year

Posted: 14 Apr 2019 07:00 AM PDT

Housing price growth is slowing, though most individual markets still see price tags getting bigger, according to a global index that tracks resi markets in 150 cities. The city to post the highest housing price increase worldwide was the Hungarian city of Budapest, where prices jumped 23% in the fourth quarter of 2018, compared to the same period in 2017, Mansion Global reported. Xi’an, China, ranked second with a 22.4% increase in residential property prices. […]

Amazon Go stores will accept cash after backlash from advocates for the poor

Posted: 14 Apr 2019 06:00 AM PDT

Amazon’s new cashier-less stores have hit a snag, and it’s not due to an issue with technology. Bowing to pressure from advocates and legislators, the e-commerce giant announced it is working on a way to accept cash at its Amazon Go locations, according to the Chicago Tribune. Amazon Go stores allow shoppers with Amazon Prime accounts to buy items without having to check out, using technology that determines which items were taken from the shelves […]