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  1. Jeff Blau to Class B office owners: “Take what you can and run”
  2. Broker Adina Azarian killed in plane crash
  3. Oceanwide defaults on loan tied to unfinished LA megaproject
  4. Venice hotel project gets final approval after 10 years in pipeline
  5. Banks tearing off Band-Aid on bad office loans
  6. Appeals court revives Howard Hughes’ Seaport project  
  7. Israeli-Canadian investor plans 52-story apartment tower in downtown Miami 
  8. Abraham Leifer puts Downtown BK hotel project in bankruptcy 
  9. Two years into going public, Compass still has issues with its books
  10. Not me: Other developers deny putting Miami mayor on the payroll
“Survive ’til ’25”: How inventory loans keep condo projects afloat
Development
National
Jun 6, 2023

“Survive ’til ’25”: How inventory loans keep condo projects afloat

High borrowing costs have put many buyers on the sidelines; lenders are here to help

First look inside Transamerica Pyramid’s tenant-only spaces
San Francisco
Jun 6, 2023

First look inside Transamerica Pyramid’s tenant-only spaces

Landlord SHVO reveals new renderings of amenities they say drive rents over $200 psf

MAP: Where certain foreign buyers will be banned from buying South Florida real estate
Politics
South Florida
Jun 6, 2023

MAP: Where certain foreign buyers will be banned from buying South Florida real estate

It shows that most, if not all, of the tri-county region would be off-limits to them

Rod Stewart puts $70M price on English Country estate in Beverly Park
Residential
Los Angeles
Jun 6, 2023

Rod Stewart puts $70M price on English Country estate in Beverly Park

British rocker’s house features a 200-year-old crystal chandelier

Mob still making trouble in construction industry
Construction
New York
Jun 5, 2023

Mob still making trouble in construction industry

Organized crime targeting nonunion contractors

Wells Fargo to take a $60M loss on 13-story office tower in SF
Commercial
San Francisco
Jun 6, 2023

Wells Fargo to take a $60M loss on 13-story office tower in SF

550 California, purchased for $108M, has mystery buyer paying $43M to $46M

Commercial sales fall 74% in Houston
Commercial
Texas
Jun 5, 2023

Commercial sales fall 74% in Houston

Part of nationwide slump as interest rates and lending standards tighten

New York

LuxUrban takes over two Times Square hotels
New York
Jun 6, 2023

LuxUrban takes over two Times Square hotels

Firm restarting operations of distressed properties in fourth quarter

Gretsch penthouse tops Brooklyn’s luxury contracts
Residential
New York
Jun 6, 2023

Gretsch penthouse tops Brooklyn’s luxury contracts

Unit PH12 last asked $7.5M

NJ town split on how to redevelop downtown
Development
New York
Jun 6, 2023

NJ town split on how to redevelop downtown

Objection to mixed-use could be way to avoid affordable housing

South Florida

Israeli-Canadian investor plans 52-story apartment tower in downtown Miami 
Development
South Florida
Jun 6, 2023

Israeli-Canadian investor plans 52-story apartment tower in downtown Miami 

Gil Blutrich’s family office wants to develop 545 units

Ritz-Carlton closing leads Miami-Dade weekly condo sales
Residential
South Florida
Jun 6, 2023

Ritz-Carlton closing leads Miami-Dade weekly condo sales

Top 10 sales ranged from $2.9M to $7.4M

BET co-founder Robert Johnson buys Palm Beach Gardens mansion for $20M
Residential
South Florida
Jun 5, 2023

BET co-founder Robert Johnson buys Palm Beach Gardens mansion for $20M

Seller Mosie Miller, a local developer, bought the 1-acre estate for $10M in 2021 and gut-renovated it

Los Angeles

After pandemic decline, agents see Chinese buyers returning to LA
Residential
Los Angeles
Jun 6, 2023

After pandemic decline, agents see Chinese buyers returning to LA

Anecdotal evidence points to upticks in Chinese scouting homes

Los Angeles to study feasibility of putting A/C in all rentals
Residential
Los Angeles
Jun 6, 2023

Los Angeles to study feasibility of putting A/C in all rentals

Staff research will look at the cost of cooling apartments across the city

Oceanwide defaults on loan tied to unfinished LA megaproject
Commercial
Los Angeles
Jun 5, 2023

Oceanwide defaults on loan tied to unfinished LA megaproject

Beijing developer of Oceanwide Plaza “failed to complete construction” and owes $157M

San Francisco

Sobrato buys aging apartment complex in Santa Clara to keep rents low
Residential
San Francisco
Jun 5, 2023

Sobrato buys aging apartment complex in Santa Clara to keep rents low

Developer launches initiative to address affordability in Silicon Valley

SF’s biggest hotels to stop mortgage payments 
Commercial
San Francisco
Jun 5, 2023

SF’s biggest hotels to stop mortgage payments 

Park Hotels and Resorts will cease servicing $725M debt in “best interest” of investors

Sand Hill Property buys auto dealership in Los Gatos for $27M
Commercial
San Francisco
Jun 5, 2023

Sand Hill Property buys auto dealership in Los Gatos for $27M

Purchase of Moore GMC adds to Whole Foods Market development site

Chicago

Big lease expansion on Wacker Drive could ease pressure on 601W
Commercial
Chicago
Jun 6, 2023

Big lease expansion on Wacker Drive could ease pressure on 601W

Landlord’s $310M debt package on 43-story tower started to concern credit raters

Gold Coast mansion sells well below ask, extending area slump
Residential
Chicago
Jun 5, 2023

Gold Coast mansion sells well below ask, extending area slump

Environmentally friendly ultra-modern design fetched $6.5M after hitting market in 2021

Gargantuan deal, financed with $450M loan, goes down for two Elk Grove data centers
Commercial
Chicago
Jun 5, 2023

Gargantuan deal, financed with $450M loan, goes down for two Elk Grove data centers

Deal could value the properties at more than $700M

Texas

Blackstone sells Texas resort for $800M
Commercial
Texas
Jun 6, 2023

Blackstone sells Texas resort for $800M

Nashville-based Ryman Hospitality bets big on Sun Belt lodging

GOP squabbles over property tax in Texas
Politics
Austin
Jun 6, 2023

GOP squabbles over property tax in Texas

Gov. Greg Abbott wants to “end property taxes,” which Lt. Gov. Dan Patrick calls “fantasy”

DMB gets OK for 7,000-acre bud of a town
Development
Texas
Jun 5, 2023

DMB gets OK for 7,000-acre bud of a town

Municipal Utility District greenlighted for 14,000-home community in Central Texas

Residential

all markets
Downtown apartment market takes a chill pill
Residential
Chicago
Jun 6, 2023

Downtown apartment market takes a chill pill

Rental growth slows, occupancy levels stay high

Home sales plunge 41% year-over-year in the Inland Empire
Residential
Los Angeles
Jun 6, 2023

Home sales plunge 41% year-over-year in the Inland Empire

In six-county SoCal region, median price falls to $718K, report finds

After pandemic decline, agents see Chinese buyers returning to LA
Residential
Los Angeles
Jun 6, 2023

After pandemic decline, agents see Chinese buyers returning to LA

Anecdotal evidence points to upticks in Chinese scouting homes

LA Real Estate Forum
,
September
21

LA Real Estate Forum

The London West Hollywood

The Real Deal’s Podcast

Deconstruct

The Real Deal’s Isabella Farr and Suzannah Cavanaugh break down the newest, biggest trends and concepts in real estate.

Commercial

all markets
ZOM seeks buyers for West Loop apartment complex
Commercial
Chicago
Jun 6, 2023

ZOM seeks buyers for West Loop apartment complex

High-rise for sale amid neighborhood’s residential development boom

CalSTRS claims law firm owes $1M in back rent at Brentwood office
Commercial
Los Angeles
Jun 6, 2023

CalSTRS claims law firm owes $1M in back rent at Brentwood office

Pension fund files lawsuit against Braunstein & Braunstein over 5K sf lease

City rents Roosevelt Hotel from Pakistan for $220M
Commercial
New York
Jun 6, 2023

City rents Roosevelt Hotel from Pakistan for $220M

Migrant center moving into at 45 East 45th Street in three-year deal

Development

all markets
Hutto serves $3M to restaurant development
Development
Austin
Jun 6, 2023

Hutto serves $3M to restaurant development

Venture from Common Ground and Marbella Interests to include retail and office

Appeals court revives Howard Hughes’ Seaport project  
Development
New York
Jun 6, 2023

Appeals court revives Howard Hughes’ Seaport project  

Decision reverses lower court’s rejection of project in historic district

Israeli-Canadian investor plans 52-story apartment tower in downtown Miami 
Development
South Florida
Jun 6, 2023

Israeli-Canadian investor plans 52-story apartment tower in downtown Miami 

Gil Blutrich’s family office wants to develop 545 units