Matt Lauer’s firing may jeopardize his New Zealand property

New Zealand's definition of a home buyer with good character may not jive with sexual harassment allegations

TRD New York TRD WEEKEND EDITION /
Dec.December 02, 2017 10:55 AM

(Credit: photo of Lauer by David Shankbone/Wikimedia Commons; photo of southern New Zealand by Jorge Royan)

The country down under requires foreign buyers to pass a good-character test, which Matt Lauer did earlier this year when purchasing his 16,000-acre ranch, but now the decision is being reviewed due to allegations of sexual harrassment that landed the former ‘Today’ show host unemployed this week.

Foreign buyers and the good-character test is overseen by New Zealand’s Overseas Investment Office; the agency is currently in talks with Lauer’s representative over the property, according to the New York Times.

The test is meant to ensure the country that its overseas real estate investors are worthy to be “granted the privilege of owning or controlling sensitive New Zealand assets.”

The agency takes into account any previous run-ins with the law — whether or not a conviction was made — including incidences where the potential buyers was a stakeholder in the offending corporate entity, though a minimum 25 percent ownership was required. The agency also states explicitly it reserves the right to consider any factor it deems relevant, such as, evidently, sexual harassment.

Lauer’s ranch, bought in February with his wife amid local controversy for cutting off public access to waterfront, is called Hunter Valley Station and has an estimated market value of $9.2 million.

High home prices in the market have created political hostility to foreign investment, with a new requirement for foreign owners of farmland to show “tangible benefit” coming into effect this month, and all-out ban of purchases by non-residents expected next year.

[NYT] — E.K. Hudson


Related Articles

arrow_forward_ios
From left: Milos Raonic, Venus Williams, Serena Williams and Novak Djokovic (Credit: Getty Images)

Luxury real estate anyone? US Open stars and their palatial pads

Luxury real estate anyone? US Open stars and their palatial pads
Lena Dunham and 60 Broadway (Credit: Getty Images)

Lena Dunham’s “massive real estate mistake”

Lena Dunham’s “massive real estate mistake”
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
442 Union Street and 257 Berry Street (Google Maps)

Brooklyn’s luxury market reaches new pandemic high

Brooklyn’s luxury market reaches new pandemic high
Marwan Kheireddine (inset), Jennifer Lawrence and 400 East 67th Street (Getty, Compass, BDL Accelerate)

Jennifer Lawrence’s Upper East Side PH sold at 37% loss

Jennifer Lawrence’s Upper East Side PH sold at 37% loss
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...