The Real Deal New York

Posts Tagged ‘Billionaires’

  • 20140918_billionaire_map

    Billionaire population by cities

    Billionaires care more about cities than countries, according to a new report, and the metropolis at the top of their list is New York City. More after the jump.

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  • "Billionaire's Row" in Manhattan

    “Billionaires’ Row” in Manhattan

    Demand for luxury real estate among investors is encouraging developers to add to Midtown’s growing stock of high-end housing. [more]

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  • From left: Copper Beech Farm in Greenwhich, Connecticut and Fair Field Estate in Sagaponick, New York

    From left: Copper Beech Farm in Greenwich, Connecticut and Fair Field Estate in Sagaponick, New York

    Economic slowdown or not, billionaires are still buying $100+ million homes. And many of those homes can be found in the New York area. [more]

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  • Airbnb founders Nathan Blecharczyk, Joe Gebbia and Brian Chesky

    Airbnb’s Nathan Blecharczyk, Joe Gebbia and Brian Chesky

    Airbnb is willing to shell out more than $21 million per year in taxes that the city could put toward homeless shelters. Currently, it’s unclear whether hosts are subject to New York’s lodging tax.

    The website’s founders proposed in a letter to Mayor Bill de Blasio this week that a clarification of the law governing hosts would ease the company’s collection of taxes from hosts. [more]

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  • U.S. Census maps illustrating demographic changes in NYC (via Huffington Post)

    The cost of living in both New York City and San Francisco has skyrocketed in the past twenty years. Today, some feel that these cities have left behind their traditions as “economically diverse melting pots” to become exclusive playgrounds for the wealthy (see video after the jump).

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  • From left: Russian billionaire Dmitry Rybolovlev; the $88 million apartment at 15 CPW Rybolovlev’s daughter bought; and the townhouse at 15 East 64th Street that billionaire Len Blavatnik purchased in 2007 for $50 million.

    WEEKENDEDITION New York City has heard a lot of talk about real estate and taxes of late. Particularly, about the tax revenue raised when super-rich foreigners buy super expensive apartments in the city. However, much of the tax generating potential of billionaire pieds-à-terres is myth, according to Crain’s. [more]

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  • From left: billionaries Michael Bloomberg, Richard LeFrak, Sheldon Solow and Donald Trump

    From left: billionaries Michael Bloomberg, Richard LeFrak, Sheldon Solow and Donald Trump

    While the electorate seems to have rejected Bloomberg’s billionWEEKENDEDITIONaire-friendly policies for de Blasio’s affordable housing push, more gilded homes for the super rich may be just what New York City needs, according to Slate’s Matthew Yglesias. [more]

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  • photo1267

    From left: Nathan Shapell, Paul and Vera Guerin with performer Wynonna Judd (center), and Toll CEO Douglas Yearley Jr.

    WEEKENDEDITION A new real estate billionaire was crowned this week when Vera Guerin, the daughter of Nathan Shapell, an Auschwitz survivor and one of California’s largest property developers, sold her late father’s company to Toll Brother’s for $1.6 billion. [more]

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  • From left: Eyal Ofer,

    From left: Eyal Ofer, Malcom Glazer and Leonard Stern

    Several of the world’s richest Jews have honed their fortunes in the New York City real estate market, according to a new ranking from Forbes Israel. [more]

    27 Comments
  • Park Avenue's white-glove buildings

    Park Avenue’s white-glove buildings

    Beneath the glitz and headlines generated by record prices and $100 million listings is the reality that many trophy homes in white-glove buildings struggle to find buyers. Some are even being forced to trade for as much as a 25 percent discount.

    While some have seen the phenomenon as the result of sellers looking at the market through rose-tinted lenses, many brokers feel they are simply being too ambitious with their pricing. [more]

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  • Akira Mori

    Spurred by the strength of the yen, Japanese billionaire Akira Mori is planning a 100 billion yen — $1.2 billion — prime real estate shopping spree in major world markets, including New York, London and Tokyo, Bloomberg News reported. The plan represents the first investment of this scale by Mori since 2008.

    The Mori Trust Co. is specifically looking for office towers, and developments that are energy efficient, equipped with disaster-prevention systems and able to hold value through market downturns. According to Mori, New York offers just this sort of investment opportunity. [more]

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  • Click to enlarge

    From the November issue: The price of entry for Forbes magazine’s list of 400 wealthiest Americans is going up. The last person on this year’s list clocked in with a net worth of $1.1 billion — which was up $50 million from last year. However, New York City’s real estate titans are (with one big exception) keeping pace.

    Indeed, most of the 10 New York real estate moguls who made the list, which was released in late September, saw their net worth increase in the last 12 months. Yet one big name dropped off this year: Steven Roth of Vornado Realty Trust. [more]

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  • Climbing One57

    October 09, 2012 10:00AM

    From the October issue:

    Brokers Nikki Field and Kevin Brown of Sotheby’s International Realty at the construction site at One57

    Extell Development’s new luxury condo tower, One57, has already done some $1 billion in sales, and most of its überwealthy buyers have had to envision their new apartments from floor plans and renderings.

    But a few lucky buyers — and their brokers — have had the chance to visit the building’s construction site, sampling the views from the top floors of the 1,000-foot-high glass tower, which will be the tallest residential skyscraper in Manhattan when it’s completed in 2013. [more]

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  • Gary Barnett and One57

    The so called “billionaire’s club” that has recently formed on the top 15 floors of Midtown’s One57 building, has developer Gary Barnett worried about a possible “gripe fest,” according to the New York Times. Several of the new owners of the building’s top sections have commissioned their own
    designers to finish their full-floor apartments and the construction could become a potential disturbance to their well-heeled and fussy neighbors.

    “This was a major, major issue for us,” Barnett said. “We don’t want our people who are buying and accepting our finishes to be sitting there for three or four years while tons of construction goes on in the building and people build out their spaces. It ties up elevators and creates dust and noise. We are doing everything possible to avoid that.” [more]

    7 Comments
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