The Real Deal - New York Real Estate News

Mindspace gets $72 million induction to continue shared-space expansion

Posted: 27 Nov 2021 12:28 PM PST

Israeli shared-office space provider Mindspace has secured $72 million to help fuel its expansion in Europe, the United States and its home country. The fundraising round was led by Harel Insurance Investment and Financial Services to help Mindspace, which manages 1 million square feet of office space in 32 branches across 17 cities and seven countries, continue to expand during a difficult time in the commercial real estate market when it added new locations in

$70 million purchase a record sale in Orange County, California

Posted: 27 Nov 2021 10:31 AM PST

A New York hedge-fund manager broke a sales record in Orange County, California, when he and his wife paid $70 million for an oceanfront mansion in Laguna Beach. The Wall Street Journal reports that Joseph Edelman, the CEO and founder of the biotech hedge fund Perceptive Advisors, and his wife Susan Lebovitz-Edelman purchased the roughly 1-acre property located in a gated community of Abalone Point, which sits on a small peninsula that juts out into

Jared Kushner looks to Persian Gulf for investment-firm financing

Posted: 27 Nov 2021 08:25 AM PST

Jared Kushner, who worked closely with Arab states on behalf of the US government and his father-in-law, then-President Donald Trump, is looking to the Persian Gulf to raise money for his new investment firm — a move that has ethics watchdogs on high alert. The New York Times reports that Kushner, the former CEO of Kushner Properties and husband of Trump’s daughter, Ivanka, has sought investments from such sovereign wealth funds as those in Saudi

Chinese regulators ease some real estate controls

Posted: 27 Nov 2021 07:30 AM PST

Chinese regulators are easing some restrictions on bond sales by real estate firms and developers, though they aren’t pulling back entirely. The goal: limit credit to overleveraged borrowers without cutting off loans entirely, the Financial Times reported, citing Zou Lan, head of financial markets at the People’s Bank of China. “We have instructed major banks to keep real estate loan issuance steady and orderly,” Zou said. Chinese developers have borrowed so much money in the

Last remaining Japanese-American farm on LA peninsula to shutter

Posted: 27 Nov 2021 06:30 AM PST

For decades prior to World War II, Los Angeles County’s Palos Verdes Peninsula was home to a thriving Japanese-American agricultural community. Only one such farm remains today, and it isn’t long for this world. The Ranchos Palos Verdes City Council has voted to terminate the lease on Hatano Farm, a 5.5-acre cactus and flower farm that sits on city-owned land, according to the L.A. Daily News. The termination stems from an agreement with the federal

South Korean President Moon Jae-in says housing failures are his biggest regret

Posted: 27 Nov 2021 06:00 AM PST

In his first live town hall since late 2019, South Korean President Moon Jae-in said his biggest regret is failing to fix the nation’s housing shortage. “I have apologized for the real estate issue several times, but looking back, I think it would have been better if we had put in a little more effort, especially into housing supply,” Moon said, according to Korea JoongAng Daily. Moon took office in 2017 and ran in part