The Real Deal - New York Real Estate News

Why Compass, @properties and tech startups are diving into bridge loans

Posted: 25 Dec 2019 01:00 PM PST

Once the gatekeepers to sales listings, real estate agents are increasingly in front of another key aspect of the home-buying process: the financing. To help clients increase their purchasing power, a number of residential brokerages have launched bridge loan programs that let clients borrow money to pay for a new home before they sell their old one. In addition to boosting sales, the programs are a way for firms to distinguish themselves from the competition

SoftBank’s hard landing

Posted: 25 Dec 2019 11:00 AM PST

Masayoshi Son was widely regarded as an eccentric-but-gifted entrepreneur when, in 2014, he dazzled investors during an earnings presentation by showing them a picture of a large, brown-feathered bird. “SoftBank wants to become the goose that lays the golden eggs,” Son told them, two years before launching a $100 billion Vision Fund that went on to anoint a crop of promising startups. But over a turbulent six weeks starting in September, one of its biggest

Broker group’s first holiday video is a ‘beaut’

Posted: 25 Dec 2019 09:00 AM PST

Eat your heart out, Annette Bening. A group of New York City residential agents has made its first holiday video, spoofing the Oscar-winning actress’ “American Beauty” character, and it’s funnier — and less cringe-worthy — than the Blackstone Group’s annual production. The New York Residential Agent Continuum’s video depicts its own members as Bening’s character, real estate agent Carolyn Burnham, trying to sell an apartment. Eight agents take turns channeling Burnham in the cleverly written

The Eklund and Gomes roadshow

Posted: 25 Dec 2019 07:00 AM PST

About six years ago, “Million Dollar Listing New York” star and Douglas Elliman broker Fredrik Eklund had a vision. While sitting at the rooftop pool at the SLS Hotel in Los Angeles with his business partner, John Gomes, real estate legend Barbara Corcoran and his older brother, Sigge, Eklund said that “we will be living” in L.A. at some point. This July, that prediction came true. Eklund sold his Tribeca condo and moved to Beverly

Retail wreckage piles up

Posted: 25 Dec 2019 05:00 AM PST

UPDATE: Wednesday, Nov. 6, 2019, 3:20 p.m.: Discount retailers. Luxury department stores. Children’s stores. Home goods giants. The retailers that filed for bankruptcy so far in 2019 — and those on experts’ watch lists — have spanned the spectrum. And with an ever-growing list of stores in the red, the outlook for the real estate they occupy continues to be grim. While some retailers, like young-adult fashion chain Forever 21, plan to use bankruptcy filings