Tag Archives: real estate

Tampa’s Spectrum affiliate reports: A private contractor and engineer are now taking over the investigation into the status of the ‘South Beach III’ condo on Sand Key. All units were evacuated yesterday after a crack was found in a support column. The building remains roped off Wednesday morning. Rescue officials said construction workers noticed the growing beam crack in the …

The New York Times reports: The condo board at a troubled 1,400-foot luxury tower on New York City’s Billionaires’ Row is accusing developers of “deliberate and far-reaching fraud” by failing to disclose early cracks in the facade that it says could lead to dangerous structural issues. Condo board members say that CIM Group and other developers of 432 Park Avenue …

The Associated Press reports: Florida condominium owners are looking at higher costs from condo associations in the new year, a consequence of a safety law passed by state lawmakers in 2022. It requires associations to have sufficient reserves to cover major repairs and to conduct a survey of reserves every decade. Because of the law, older condos — found largely …

Bloomberg News reports: A mystery seller is asking $200 million for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida. The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said …

The Guardian reports: America’s political divide is likely to get even wider thanks to a new real-estate platform that lets potential buyers see the political affiliations of their future neighbors, as well as other social data and local demographics. Oyssey, a tech startup launching this month in south Florida and New York City, allows buyers access neighborhood political affiliations based …

CBS News reports: Los Gatos man who starred in a real estate reality show was sentenced to jail and ordered to pay back nearly $10 million to his victims after being convicted of real estate fraud, prosecutors said Tuesday. According to Santa Clara County District Attorney Jeff Rosen’s office, 58-year-old Charles “Todd” Hill received a four-year sentence. Hill starred in …

The New York Times reports: American homeowners could see a significant drop in the cost of selling their homes after a real estate trade group agreed to a landmark deal that will eliminate a bedrock of the industry, the standard 6 percent sales commission. The National Association of Realtors, a powerful organization that has set the guidelines for home sales …

The New York Daily News reports: A six-story Bronx apartment building partially collapsed Monday, officials said. First responders raced to the scene of the destruction on Billingsley Terrace near Phelan Pl. in Morris Heights just before 3:40 p.m., according to police. Numerous people were inside when the northeast corner of the 47-unit building crumbled, officials said. A man who works …

New York Magazine reports: A video walk-through of a Cobble Hill one-bedroom shows a spacious living room, ample windows, and original moldings. There are marble fireplaces, six closets, and garden views. It’s listed for $3,500, not exactly cheap, but not egregious for the neighborhood. One issue: There’s no kitchen. “A unique feature,” per the listing, that allows for a “versatile …

The New York Times reports: WeWork, the real estate company that offered start-ups and individuals sleek quarters to pursue their entrepreneurial dreams, filed for bankruptcy protection in the United States on Monday after years of struggling to find its footing. The company filed for Chapter 11 bankruptcy protection in New Jersey, as part of what it described as a “comprehensive …

The BBC reports: Canadian Prime Minister Justin Trudeau has proposed a two-year ban on some foreigners buying homes. The measure comes as the country grapples with some of the worst housing affordability issues in the world. Prices have jumped more than 20%, pushing the average home in Canada to nearly C$817,000 ($650,000; £495,000) – more than nine times household income. …

The New York Post reports: The notorious San Diego home of Mitt Romney, which made headlines in 2012 for having planned an installation of a car elevator, is now in escrow for $23.5 million. The move comes after years of enduring backlash from neighbors for tearing down and demolishing the initial oceanfront structure and building a new, bigger home. Romney, …

The New York Post reports: A company registered to Donald Trump and his family is selling their Palm Beach oceanfront abode for a whopping $49 million. The estate sits next door to Trump’s Mar-a-Lago club, where the former president currently resides. The buyer of the estate would have access to a full membership at the golf club, a perk available …

The Washington Post reports: The commercial real estate industry has ground nearly to a halt because of coronavirus shutdowns, forcing buyers and sellers of major properties, including President Trump’s company, to put their plans on hold. The Trump Organization, which he still owns, has had to press pause on the proposed sale of its D.C. hotel lease because of the …

Gothamist reports: Landlord, not tenants, will now be forced to foot the bill for New York City’s notoriously high brokers fees, following new guidance issued by the NY Department of State. Seeking to clarify outstanding questions stemming from last year’s sweeping rent reform package, the new state action mandates that brokers acting on behalf of landlords cannot be compensated by …

Bloomberg News reports: This year saw weak annual gains in luxury home prices, new tax proposals on million-dollar properties, and restrictions for foreign investors. But that didn’t stop luxury homebuyers in the U.S. from shelling out upwards of $100 million apiece for mansions, penthouses, and beachside properties. A Manhattan penthouse topped the list of 2019’s 10 most expensive residential real …

Forbes Magazine reports: The Bel-Air, French chateau-style mansion and estate made famous by TV’s The Beverly Hillbillies sold for $150 million, setting a California price record⁠—with the new owner reported to be Lachlan Murdoch, son of media mogul Rupert Murdoch. Known as the Chartwell Mansion, the property’s exterior was featured in the opening credits of The Beverly Hillbillies, which ran …

USA Today reports: Fix global warming or cook dinner on a gas stove? That’s the choice for people in 13 cities and one county in California that have enacted new zoning codes encouraging or requiring all-electric new construction. The codes, most of them passed since June, are meant to keep builders from running natural gas lines to new homes and …

The New Orleans Times-Picayune reports: One person is dead and three are still missing after part of the Hard Rock hotel under construction in downtown New Orleans collapsed Saturday morning with what witnesses described as a rumble and giant cloud of dust. Multiple injuries have been reported, authorities said. One worker said about 45 people were working inside the building. …

The New York Times reports: California lawmakers approved a statewide rent cap on Wednesday covering millions of tenants, the biggest step yet in a surge of initiatives to address an affordable-housing crunch nationwide. The bill limits annual rent increases to 5 percent after inflation and offers new barriers to eviction, providing a bit of housing security in a state with …