Tag Archives: real estate

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 …

From the real estate site Clever: To understand how expensive the American Dream has become — and whether it is still achievable today — we gathered Census data from 1960 to 2017 on home prices, rents, and household income. After adjusting for inflation over time, the future of the American Dream seems rather gloomy: Median home prices increased 121% nationwide …

Bloomberg reports: Trump Tower, once the crown jewel in Donald Trump’s property empire, now ranks as one of the least desirable luxury properties in Manhattan. The 36-year-old building has been turned into a fortress since Trump won the presidency, ringed with concrete barriers and the two main entrances partially blocked off. It hasn’t been substantially updated in years. And Trump’s …

The New York Post reports: Michael Jackson’s sprawling Neverland Ranch has been put back on the market just days before “Leaving Neverland,” the documentary which details sexual abuse allegations against the late King of Pop, is set to air on HBO on Sunday night. Originally listed in 2015 for $100 million, the palatial 2,698 acre estate now known as Sycamore …

The Washington Post reports: For the second time in four months, the name “Trump Place” will come down from a New York building’s facade after condo owners at 120 Riverside Blvd. voted to have the name removed. The building’s condominium board announced the decision Thursday, according to an email to building owners. The email said that, after a vote of …

The Associated Press reports: The building that helped Donald Trump make a name for himself in his first big deal in Manhattan is being sold to developers who plan to tear it down. Developer TF Cornerstone said Thursday that it and a group managing billionaire Michael Dell’s money have agreed to buy the Grand Hyatt New York next to Grand …

The Wall Street Journal reports: Billionaire Ken Griffin, who is becoming almost as known for his prodigious purchases as he is for his investment acumen, has closed on a New York penthouse for roughly $238 million. The deal sets a record for the highest-priced home ever sold in the U.S. The purchase is the latest in a string of record-breaking …

Forbes reports: Donald Trump sold an estimated $35 million worth of real estate while serving in the White House last year, according to a Forbes analysis of local property records and federal filings.  Although the president delegated day-to-day management of his assets to his sons Eric and Don Jr. upon taking office, he maintained ownership of his business, which continued …

Talking Points Memo reports: Google today is announcing plans to invest over $1 billion in capital improvements to create a new 1.7-million-square-foot campus in Lower Manhattan, dubbed “Google Hudson Square.” As part of the New York City expansion, Google and Alphabet Chief Financial Officer Ruth Porat said in a blog post out this morning that the company “will have the …

TIME Magazine reports: Residents of Trump Place on the Upper West Side of Manhattan have joined three other buildings in the neighborhood in stripping the president’s brassy five-letter name from their 46-story building in another sign that the brand is losing some of its appeal. In May, a judge ruled that the Trump Organization was wrong in asserting a contract …

Bloomberg reports: Last week, Airbnb Inc. was dealt one of its biggest blows in the company’s 10-year history. New York City council members voted to require the home-rental company to hand over the names and addresses of its hosts in the city. The officials have said they need the information to police Airbnb hosts that operate illegally and drive up …