New York City Council passes measure to create 80K homes
Approval coincides with $5B commitment for housing, infrastructure
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Commercial
South Florida
Jeffrey Soffer’s firm seeks $1.2B refi for Fontainebleau Miami Beach resort
Capital stack would come from $975M CMBS sale, $225M mezz loan
Commercial
New York
Starwood grills “broke” Joel Schreiber about private jets, exorbitant wedding
WeWork’s first investor could be jailed for failing to hand over documents
Magazine
New York
Inside the turmoil at Columbia’s Master of Science in Real Estate Development program
And why it matters for the industry
Commercial
New York
TYKO provides $280M loan for Vanbarton’s 77 Water conversion
Adi Chugh’s firm continues to write big construction loans
Commercial
New York
Lender files to foreclose on Aby Rosen’s 17 State Street
RFR allegedly defaulted on $180M loan over summer
Residential
Los Angeles
Aaron Kirman stresses independence after Compass acquisition
Brands and businesses are distinct, Christie’s International Real Estate SoCal CEO says
Residential
Texas
Texas affiliates “blindsided” by Compass’ @properties acquisition
Christie’s International Real Estate heads claim agents keep a leg up under big-box ownership
Magazine
New York
A closer look at the kingpins of Kings Point
In a wealthy Great Neck, New York neighborhood, a tight-knit group of Persian Jewish real estate bigwigs live, work and worship
Dec 6, 2024
Fannie Mae blacklists Sevenstone, Eastern Union
Eastern Union president: We are being dragged into this by former employees
Dec 6, 2024
Developer plans 98 apartments, thanks to Soho rezoning
Extended’s Jason Kimmel to build where office project was canceled
Dec 6, 2024
Moshe Silber banned from real estate
Feds say investor violated terms of release while awaiting sentencing for mortgage fraud
Dec 6, 2024
The Daily Dirt: Why it’s hard to track rent-stabilized bankruptcies
Distress sales seem to be increasing in NYC, but the data is scarce
Dec 6, 2024
Calvin Klein signs with Shvo for Soho flagship
Luxury brand will occupy 7k sf at 530 Broadway
Dec 6, 2024
Here are the priciest Brooklyn and Queens condo filings of 2024
Top 10 projects target $1.4B, up from last year’s $1.1B
Dec 6, 2024
Edelstein, Karakhanian and Integra list Design District dev site for $47M
They paid $23M for the site in 2022 and planned 20-story office tower
Dec 6, 2024
Music producer sells Bears Club mansion in Jupiter for $15M, as market heats up
Gated golf community now has three listings over $30M
Dec 5, 2024
More woes for CGI Merchant: Raoul Thomas’ firm hit with $49M UCC foreclosure on Coral Gables offices
Company lost Washington DC and downtown Miami hotels to lenders this year, and faces South Beach property auction this month
Dec 6, 2024
Miami-Dade condo sales drop to $426M in November, marking the slowest month so far this year
Number of closings fell to 568 from 681 in October
Dec 6, 2024
Grover Corlew lands $114M refi for new Pompano Beach rental complex, as South Florida financing continues flowing
New debt refinances $78M construction loan borrowed in 2022, bumps up total loan by $36M
Dec 5, 2024
University of Miami beefs up commercial portfolio with $68M Allapattah purchase
School purchased a strip mall, former bank building and parking lot in three separate deals
Dec 6, 2024
Report pulls Jason Oppenheim into Douglas Elliman lawsuit
Brokerage’s complaint points to unnamed “reality TV star” in kickback scheme
Dec 6, 2024
CBRE’s Laurie Lustig-Bower and Tim Bower to retire as a couple from brokerage
Sweetheart agents say goodbye to firm after decades of deals in LA’s commercial market
Dec 6, 2024
Home buying across SoCal increases, despite near record prices
Sales grew 10% in October from the previous month, while typical price rose 5% to $775K
Dec 6, 2024
1784 Holdings nabs $41M loan for self-storage facility in San Gabriel
REIT Extra Space Storage provides bridge loan for the five-story project
Dec 5, 2024
Bel-Air spec mansion with parking for 50-plus cars asks $40M
Newly built house comes with heated Toto toilets and a self-playing piano
Dec 5, 2024
Thrive expects 15% savings with modular apartments in Chinatown
Six-story project will target workforce and affordable housing tenants
Dec 6, 2024
Can San Francisco’s office woes turn the corner in 2025?
Chief economist says “the city is in a slow process of recovery”
Dec 5, 2024
Emerald Fund approved to turn former Oakland arts campus into homes
But developer puts project on pause until “the whole region’s economics change”
Dec 6, 2024
Eden Housing gives creekbed in Castro Valley to Indigenous land trust
3-acre donation comes after OK for controversial plan to build 72 affordable homes
Dec 6, 2024
The Trade Desk to replace private club in Downtown San Jose
Ventura ad tech firm leases full floor as Silicon Valley Capital Club shuts down
Dec 5, 2024
Michael Shvo reflects on owning “the most important building in San Francisco”
Developer discusses $1B investment in the Transamerica Pyramid
Dec 5, 2024
Is Wells Fargo poised to take an express stage out of San Francisco?
Bank will list its HQ and cut 54% of its SF footprint as executives work elsewhere
Dec 6, 2024
Ruben Espinoza facing $35M loan trouble on Southwest Side
Sprawling industrial and office building in Brighton Park neighborhood is headed to special servicing as commercial tenant gets ready to exit lease and another fights to get deposit back
Dec 6, 2024
Hutensky takes on $68M debt to buy retail from Washington Prime
Connecticut-based buyer picks up Bloomingdale, Orland Park shopping centers from spinoff of mall giant Simon Property Group
Dec 6, 2024
Landlord hands back keys to Mag Mile mall Shops at Northbridge
Alaska Permanent Fund’s deed-in-lieu of foreclosure indicates the retail asset’s value is well below its last refinancing of $375 million
Dec 5, 2024
Price cuts exceed $2M on Gold Coast mansion after years on market
Follows trend in Gold Coast, as sellers respond to market pressure
Dec 6, 2024
Chicago home-buying surged in November, beating last two years
Post-election relief, surrender to interest rates, warm weather were factors
Dec 6, 2024
Bears swivel back to Arlington Heights for $5B stadium amid tax deal
Former racecourse could be taxed $3.6 million per year through 2027
Dec 5, 2024
Blackstone lands $1B refi for student housing portfolio, a hot asset class
Deal will be used to refinance $810M in debt
Dec 4, 2024
Texas affiliates “blindsided” by Compass’ @properties acquisition
Christie’s International Real Estate heads claim agents keep a leg up under big-box ownership
Austin
Dec 5, 2024
D.A. Davidson loans $106M for Hill Country golf course community
Will finance infrastructure for Areté Collective, Wasatch Group’s Loraloma Estates
Houston
Dec 4, 2024
Estate last listed at $25M is most-expensive sale this year
Lori Krohn Sarofim sold River Oaks mansion after a few price cuts
Austin
Dec 6, 2024
Spec office building lands veterinary chain as headquarters tenant
Seamless Capital’s The Bouldin is in development amid high office vacancy, although the market is improving
Houston
Dec 6, 2024
Pagewood starts second spec logistics hub amid increasing demand
Purchased 32 acres in Northwest Houston; scored financing from Voya Financial
Dec 6, 2024
Suburban hell: Biggest CMBS office loan in special servicing is $1.2B
Workspace Property Trust’s huge bet going bad
Dec 6, 2024
Are Tides principals’ debts now high enough to bankrupt them?
Principals may be personally liable for tens of millions of dollars
Atlanta
Dec 6, 2024
Newmark poaches top brokers for Southeast office sales
Jay O’Meara, Justin Parsonnet, Ryan Reethof exiting CBRE
Dec 5, 2024
Trump Org eyes international business despite ethical concerns
Company to release scaled-down restrictions ahead of second Trump term
Nashville
Dec 5, 2024
Industrious slides into hotly anticipated Nashville Yards tower
Southwest Value Partners’ Pinnacle Tower expected to open in March
Denver
Dec 5, 2024
Cantor Fitzgerald buys luxury apartments outside Denver for $93M
Kairoi Residential divests 315-unit complex in Brighton for $296K per unit
Chicago
Dec 6, 2024
Chicago home-buying surged in November, beating last two years
Post-election relief, surrender to interest rates, warm weather were factors
Los Angeles
Dec 6, 2024
Home buying across SoCal increases, despite near record prices
Sales grew 10% in October from the previous month, while typical price rose 5% to $775K
South Florida
Dec 6, 2024
Music producer sells Bears Club mansion in Jupiter for $15M, as market heats up
Gated golf community now has three listings over $30M
South Florida
Dec 6, 2024
Miami-Dade condo sales drop to $426M in November, marking the slowest month so far this year
Number of closings fell to 568 from 681 in October
New York
Dec 6, 2024
Here are the priciest Brooklyn and Queens condo filings of 2024
Top 10 projects target $1.4B, up from last year’s $1.1B
Los Angeles
Dec 5, 2024
Bel-Air spec mansion with parking for 50-plus cars asks $40M
Newly built house comes with heated Toto toilets and a self-playing piano
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Los Angeles
Dec 6, 2024
CBRE’s Laurie Lustig-Bower and Tim Bower to retire as a couple from brokerage
Sweetheart agents say goodbye to firm after decades of deals in LA’s commercial market
Austin
Dec 6, 2024
Spec office building lands veterinary chain as headquarters tenant
Seamless Capital’s The Bouldin is in development amid high office vacancy, although the market is improving
National
Dec 6, 2024
Suburban hell: Biggest CMBS office loan in special servicing is $1.2B
Workspace Property Trust’s huge bet going bad
Atlanta
Dec 6, 2024
Newmark poaches top brokers for Southeast office sales
Jay O’Meara, Justin Parsonnet, Ryan Reethof exiting CBRE
San Francisco
Dec 6, 2024
The Trade Desk to replace private club in Downtown San Jose
Ventura ad tech firm leases full floor as Silicon Valley Capital Club shuts down
South Florida
Dec 6, 2024
Grover Corlew lands $114M refi for new Pompano Beach rental complex, as South Florida financing continues flowing
New debt refinances $78M construction loan borrowed in 2022, bumps up total loan by $36M
Houston
Dec 6, 2024
Pagewood starts second spec logistics hub amid increasing demand
Purchased 32 acres in Northwest Houston; scored financing from Voya Financial
South Florida
Dec 6, 2024
Edelstein, Karakhanian and Integra list Design District dev site for $47M
They paid $23M for the site in 2022 and planned 20-story office tower
New York
Dec 6, 2024
Developer plans 98 apartments, thanks to Soho rezoning
Extended’s Jason Kimmel to build where office project was canceled
San Francisco
Dec 6, 2024
Eden Housing gives creekbed in Castro Valley to Indigenous land trust
3-acre donation comes after OK for controversial plan to build 72 affordable homes
Dallas
Dec 6, 2024
Hoque Global under fire for stalled University Hills project
Developer wants $1.75 million more in subsidies, extended timeline for southern Dallas development
San Antonio
Dec 5, 2024
Senior living developer wanted for affordable housing project
The San Antonio Housing Trust plans a 90-unit rental project with 20 percent of units reserved for very low-income residents