The Real Deal - New York Real Estate News

This Silicon Valley home hit the market in Larry Ellison and Sheryl Sandberg’s town

Posted: 29 Jun 2019 01:00 PM PDT

Silicon Valley mainstay David Sacks is selling his 11,000-square-foot home in Atherton, the area’s most exclusive town that’s home to numerous tech titans. Sacks is asking $22.5 million for the six-bedroom home, according to Variety. Last year, homes in Atherton sold for a median of $6.7 million, making it the most expensive area to buy a home in the country. Average annual household income in Atherton is around $450,000, according to Business Insider. Residents include […]

Resort fee wars: Booking platforms are taking on the controversial hotel practice in very different ways

Posted: 29 Jun 2019 12:00 PM PDT

Resort fees, mandatory extra fees that often don’t appear in search results and that travelers sometimes only discover at checkout, have been on the rise in recent years as hotels face economic pressures on multiple fronts. And online booking platforms are now responding. Booking.com shook up the industry last month by announcing it would start charging hotels commissions on such fees, reclaiming what it views as its fair share of the revenue it generates for […]

Palm Beach estate sells for over $110M, marking an all-time record

Posted: 29 Jun 2019 11:35 AM PDT

An oceanfront Palm Beach estate sold for more than $110 million, according to sources, marking the most expensive single-family home sale in the tony town. The late Broadway producer, Terry Allen Kramer, who died in May, owned the 13-bedroom compound at 1295 South Ocean Boulevard. It hit the market in October for $135 million, and went under contract in recent weeks. Sources confirmed to The Real Deal that the sale closed on Friday. The Palm […]

Lindsey Buckingham goes his own way, unloads Brentwood mansion

Posted: 29 Jun 2019 11:00 AM PDT

Maybe the buyer was a Fleetwood Mac fan? Lindsey Buckingham, former lead guitarist of the legendary group, sold his Brentwood mansion in one month, a high note in an otherwise down Los Angeles luxury market. Buckingham sold the home for $29.5 million, MansionGlobal reported. It hit the market at the same price on May 20. Spanning about 10,000 square feet, the custom-built estate has seven bedrooms, a recording studio, a two-story tower and a billiards […]

Miami firm to raise $200M for fund to buy distressed commercial real estate loans

Posted: 29 Jun 2019 10:00 AM PDT

A Miami-based private equity firm is doubling its fundraising goal to $200 million to buy up distressed commercial real estate loans. Safe Harbor Equity founder, Ralph Serrano, said recent European and Asian fundraising tours revealed investors are eager to contribute to a distressed commercial real estate debt fund. Accordingly, despite having not yet raised the initial target of $100 million, the firm is “scaling it up to $200 million,” he told Forbes. While commercial development […]

Prince Harry and Meghan Markle’s home renovation cost UK taxpayers a pretty pence

Posted: 29 Jun 2019 09:00 AM PDT

Let the whinging commence! British taxpayers may have been dismayed to learn that they covered the cost of rebuilding the royal home of Prince Harry and his wife Meghan Markle. The Duke and Duchess of Sussex paid for furnishings, fixtures and fittings at their residence near Windsor Castle, called Frogmore Cottage. But the $3.06 million project at Frogmore also turned five properties into a single house for the royal couple and their infant son, Archie. […]

Michael Shvo believes in Beverly Hills

Posted: 29 Jun 2019 07:00 AM PDT

Michael Shvo doesn’t believe in Los Angeles — he believes in Beverly Hills. Why wouldn’t he? At the end of last spring, he and his partners dished out $130 million for 9200 Wilshire Boulevard. The plan is to develop a 300,000-square-foot complex with 54 luxury residential units and 6,000 square feet of retail space. Shvo said at The Real Deal‘s 12th annual showcase that construction is starting within months. Besides that, Shvo has a couple […]

This week in celeb real estate: Ellen DeGeneres lists another home, Jerry Perenchio’s Chartwell get price chop.. and more

Posted: 29 Jun 2019 06:00 AM PDT

The end of June provided some movement in the market, as celebrities in Malibu and Beverly Hills were able to close deals for homes priced below $20 million. In keeping with the broader luxury market trend, uber-pricey Chartwell Estate continued to linger on the market, prompting another wave of discounts. Serial home flipper Ellen DeGeneres is back at it again. This week, the talk show host put her oceanfront home in Carpinteria on the market […]