Investing in real estate may not translate into happiness, according to a growing body of research, the New York Times reported. [more]
Posts Tagged ‘real estate investing’
From the December issue: Ruby Schron is not the type of real estate mogul who has racks of shiny suits spilling out of his closet.
Associates of the septuagenarian investor describe him as “the opposite of pretentious” and “anything but glitzy” — a man so careful with his money that he still lives in the same single-family home in Brooklyn where he raised his eight children, even as his fortune has swelled into the hundreds of millions of dollars. [more]
The world’s largest sovereign wealth fund is planning to pump approximately $11 billion into the U.S. real estate market, Businessweek reported.
Norway’s $660 billion fund will eventually transfer 5 percent of its assets into property and it wants at least one-third of that investment — 1.7 percent — to be in the U.S., according to Yngve Slyngstad, CEO of Oslo-based Norges Bank Investment Management, which manages the pool. [more]
From the October issue: New York’s real estate professionals are generally an optimistic crowd, but when you ask them about buying loans or properties controlled by special servicers, they turn cool.
In fact, a handful of Manhattan investment sales brokers and company principals say they have given up hunting for opportunities involving special servicers for their clients. Some say their impression is that special servicers rarely sell and, therefore, are not worth approaching. [more]
From the October issue: After a lackluster start to the year, the fall selling season for the priciest Manhattan buildings and development sites — those with price tags of $100 million and up — has kicked into high gear with a rush of properties recently hitting the market.
Those listings, which total more than $5 billion, include two buildings — 11 Madison Avenue and 825 Eighth Avenue, also known as Worldwide Plaza — that are expected to fetch more than $1 billion each. If either sells before Dec. 31, it would easily break the record for the most expensive sale of the year. [more]
New York’s trophy office market has strengthened — average Manhattan prices were up 33 percent in the first half of 2012, year-over-year — but investors are increasingly chasing bigger yields in smaller cities, Bloomberg Businessweek reported. The market for prime office space is in the process of recovering in cities like Minneapolis, Seattle, Nashville, Houston and Denver, and there is often more supply in those places than in much larger cities, such as New York and Chicago. [more]