The Real Deal - New York Real Estate News

Adam Neumann no longer has a vision for San Jose

Posted: 15 Feb 2020 01:00 PM PST

Adam Neumann’s New Year’s resolution might have been to clean out his real estate portfolio. He’s now sold off his stakes in development properties in San Jose. The former CEO of WeWork sold his personal stake in six properties in the Northern California tech hub that were supposed to be part of WeWork’s “future of cities” program, according to Bloomberg. His holdings could have been worth as much at $150 million. Neumann invested in the

What Greystar’s belief in multifamily says about the health of the economy

Posted: 15 Feb 2020 11:00 AM PST

Greystar CEO Bob Faith says he’s “very bullish” on the multifamily sector and so are investors, whether or not the economic cycle is past its peak. When asked if the South Carolina-based firm was looking to increase exposure to the sector or raise more funds for multifamily investments, Faith told Bloomberg that “capital is hungry for yield” and multifamily offered stability going into a downturn. “When you go into a recession, people still have to

Corporate camping: Check out REI’s crazy Washington headquarters

Posted: 15 Feb 2020 09:00 AM PST

Consumer outdoor equipment retailer Recreational Equipment Inc., or REI, is building a headquarters outside Seattle befitting its outdoorsy business. The 380,000-square-foot main office building features outdoor staircases and bridges, oversized sliding doors to let in air, and is built around two courtyard full of plants native to the region, according to the Wall Street Journal. Architecture firm NBBJ designed the building, which is orientated to maximize sunlight through its mostly glass façade. “You can’t really

One quarter of Americans don’t even know their mortgage rate

Posted: 15 Feb 2020 06:00 AM PST

Mortgage rates hit a three-year low earlier this week, so is it time to refinance? That’s a tough question for one in four homeowners who don’t even know what their current rate is. Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home, according to Fox Business. A third of homeowners between age 29 and 39 didn’t know their rate and 23