Official’s state of play after the Alexanders’ departure
Allegations against star co-founders set off shuffle across leadership, agents and line of business
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Residential
National
Swing state home buying costs have nearly doubled since last election
Housing affordability crisis fuels voter concerns in key battlegrounds
Residential
San Francisco
Greg Malin’s journey from luxury to “lemon” in San Francisco
Spec home builder at Troon Pacific faces lawsuits from both investors and buyers
Commercial
New York
Joe Sitt loses two Manhattan buildings to foreclosure
Lenders take Thor Equities retail properties in Meatpacking, Soho
Commercial
National
Shvo backer denies role in “unlawful and dishonest” conduct alleged by Core Club
Pension fund BVK responds emphatically to lawsuit
National
Connor Teskey, 36, appointed heir in Brookfield CEO succession
CEO Bruce Flatt plays long game in planning his exit
Commercial
New York
Family feud over Sol Goldman empire finishes Round 1
In Delaware trial, Goldmans disagree on who won
Commercial
New York
Feil defaults on fully-occupied office tower loan at maturity
Owners failed to pay off $164 million loan in July, now negotiating extension
Commercial
National
Blackstone bumps up bond offering after $10B multifamily buy
Firm eyes investor interest for $3B CMBS offering
Jul 22, 2024
Fifth Avenue office tower owned by Mexican banking scion heads to special servicing
The loan went into special servicing for “imminent maturity default,” according to Trepp
Jul 20, 2024
Former Burger King CEO buys whopper of a penthouse
Daniel Schwartz gobbles up $17M co-op by Central Park
Jul 19, 2024
Joe Sitt loses two Manhattan buildings to foreclosure
Lenders take Thor Equities retail properties in Meatpacking, Soho
Jul 20, 2024
The Daily Dirt: Mayor’s housing plan will define Adrienne Adams’ speakership
Will City Council leader pursue best policy or customize proposal to win votes?
Jul 22, 2024
Former Chelsea prison will be Hochul’s next affordable housing project
100k-sf Bayview Correctional Facility will be converted to 124 units
Jul 22, 2024
Armani-branded condos snag Manhattan’s priciest contract
Penthouse asking $33M lands development atop borough’s luxury deals for fourth time in 2024
Jul 22, 2024
Singaporean REIT sells Boca Raton office building for $82M –– an 18% discount
Gatsby Enterprises picked up property
Jul 22, 2024
Pending sale of $28M waterfront home on North Bay Road tops slow week in Miami-Dade
Buyers signed just five contracts for homes, condos priced at $4M and up last week
Jul 22, 2024
Movers & Shakers: ULI taps Anthony Graziano as Southeast Florida chair
Plus: Ware Malcomb promotes Miami office principal, SVN hires team leader
Jul 21, 2024
A shocking end to Sergio Pino’s legacy
Miami developer’s suicide leaves his estranged wife, with whom he didn’t want to share his fortune, as the sole owner of the firm they owned together
Jul 19, 2024
Lender sues to foreclose on Bay Harbor Islands condo site
Allure Development launched sales of 26-unit project in 2016
Jul 19, 2024
Waterfront Palm Beach spec mansion sells for $29M — a $15M discount in offseason
Developer bought site for $17.8M in 2021, completed the home this year
Jul 19, 2024
Brookfield office building in LA heads to foreclosure auction
52-story Gas Company Tower could sell before the auction date
Jul 19, 2024
KeyBank sued over derailed $122M deal for Skims-leased Hollywood offices
Buyer Kingsbarn claims lender “pulled the rug out” from deal at the last minute
Jul 18, 2024
Justice Department investigates California Realtors’ sales paperwork
Consumer group calls forms “anti-consumer,” trade association says critique “misguided”
Jul 18, 2024
LA sues Airbnb guru over allegedly illegal short-term rental listings
City claims Vlad Yurov and firm Skysun Living violated law on “massive scale”
Jul 22, 2024
Rexford weathers industrial slump by focusing on smaller warehouses
REIT’s second-quarter vacancy was 2.7%, beating the SoCal infill market rate of 3.9%
Jul 22, 2024
Los Angeles issues fewer residential permits in first half of 2024
Number of permitted homes falls 19%, despite stable interest rates and strong job market
Jul 19, 2024
Greg Malin’s journey from luxury to “lemon” in San Francisco
Spec home builder at Troon Pacific faces lawsuits from both investors and buyers
Jul 19, 2024
Foreclosure looms for Gem Realty and Flynn’s SF office complex
Default on $47M debt puts two-building property at Union Square in jeopardy
Jul 19, 2024
Robinson Oil invests $39M in South San Jose commercial portfolio
Operator of Rotten Robbie gas stations buys four office-industrial buildings
Jul 18, 2024
Skyy Vodka founder’s San Francisco compound sells for $17.5M
Maurice Kanbar lived alone in eight-story building where buyer plans “commune”
Jul 22, 2024
Instagram co-founder Mike Krieger builds box-like home in SF’s Dolores Heights
Neighbor calls Modern cube design among Victorians “absolutely hideous”
Jul 22, 2024
Ground lease enables Pacific Companies to build affordable complex in San Jose
Safehold agrees to bankroll 164-unit housing project by purchasing the land beneath it
Jul 19, 2024
How landlords like Chicago’s Pangea allegedly overcharge Section 8 renters
A civil lawsuit claims Chicago Housing Authority dropped an investigation into potential fraud by one of city’s largest landlords at the time
Jul 22, 2024
A closer look at Ken Griffin’s Chicago condo selling spree
Billionaire hedge funder’s Windy City exit has kept him busy listing and selling his luxe condos
Jul 22, 2024
Sterling Bay selling off more Fulton Market land
Developer lists Carroll Avenue site where it planned a 14-story office building
Jul 22, 2024
FPA strikes again with $60M Oak Park multifamily purchase
San Francisco-based firm founded by Greg Fowler has spent $350M on Chicago-area apartments in recent months
Jul 19, 2024
Closing property tax “apartment loophole” questioned
Owners of small mixed-use properties saw their taxes increase as much as 200 percent after methodology change
Jul 19, 2024
Sephora closing Magnificent Mile location
Creates another vacancy in MetLife Investment Management’s Water Tower Place
Dallas
Jul 22, 2024
Hillwood locks in plans for massive mixed-use site in Denton
Project entails 6,000 houses, 3,000 apartments and around 5 million square feet of commercial space
Jul 18, 2024
Palladius sells Central Texas student housing, claims NOI doubles
Firm held 672-bed development near Texas State University in San Marcos for just two years
Houston
Jul 19, 2024
Baytown apartments part of Chetrit’s $481M portfolio distress
157-unit property scheduled for foreclosure auction next month
Dallas
Jul 17, 2024
Tides loses two more DFW apartment properties to lenders
Three other Tides-owned apartment complexes in Metroplex face foreclosure
Austin
Jul 22, 2024
City picks developers for long-planned East 11th Street development
Pleasant Hill Collaborative tapped for commercial and resi hub
Jul 19, 2024
Ashkenazy goes retail-to-entertainment at River Walk mall
Climbing walls and shark tanks among attractions New York-based landlord has in store for Shops at Rivercenter
Jul 17, 2024
How the Puretz mortgage scam devastated Philadelphia senior tenants
Affordable housing complexes were uninhabitable, utilities unpaid, new report
Las Vegas
Jul 16, 2024
Tides Equities loses Vegas apartments to lender, wiping out equity
Texas-based Newpoint took over Tides at Walnut Park with $19M credit bid
Jul 16, 2024
Real estate groups pan Biden’s rent cap proposal
President pitches 5% rent increase limit on larger portfolios
Jul 15, 2024
Arbor Realty pushes back against claims of short sale fraud
Firm says foreclosures would have been disclosed on Q2 statements
Las Vegas
Jul 22, 2024
Schulman replaces apartment plan with hotel in Vegas Arts District
Developer envisions local equivalent of San Diego’s Gaslamp Quarter to attract visitors
Jul 22, 2024
Foreign buyers splurging on luxury US homes, amid struggling resi market
International buyers are paying up to 20% more than before
San Francisco
Jul 22, 2024
Instagram co-founder Mike Krieger builds box-like home in SF’s Dolores Heights
Neighbor calls Modern cube design among Victorians “absolutely hideous”
National
Jul 22, 2024
Foreign buyers splurging on luxury US homes, amid struggling resi market
International buyers are paying up to 20% more than before
South Florida
Jul 22, 2024
Pending sale of $28M waterfront home on North Bay Road tops slow week in Miami-Dade
Buyers signed just five contracts for homes, condos priced at $4M and up last week
Chicago
Jul 22, 2024
A closer look at Ken Griffin’s Chicago condo selling spree
Billionaire hedge funder’s Windy City exit has kept him busy listing and selling his luxe condos
San Francisco
Jul 22, 2024
Ground lease enables Pacific Companies to build affordable complex in San Jose
Safehold agrees to bankroll 164-unit housing project by purchasing the land beneath it
Los Angeles
Jul 22, 2024
Los Angeles issues fewer residential permits in first half of 2024
Number of permitted homes falls 19%, despite stable interest rates and strong job market
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South Florida
Jul 22, 2024
Singaporean REIT sells Boca Raton office building for $82M –– an 18% discount
Gatsby Enterprises picked up property
Chicago
Jul 22, 2024
FPA strikes again with $60M Oak Park multifamily purchase
San Francisco-based firm founded by Greg Fowler has spent $350M on Chicago-area apartments in recent months
Las Vegas
Jul 22, 2024
Schulman replaces apartment plan with hotel in Vegas Arts District
Developer envisions local equivalent of San Diego’s Gaslamp Quarter to attract visitors
Los Angeles
Jul 22, 2024
Rexford weathers industrial slump by focusing on smaller warehouses
REIT’s second-quarter vacancy was 2.7%, beating the SoCal infill market rate of 3.9%
San Francisco
Jul 22, 2024
Owner of Hotel Carlton in SF sues Sonder for $1.2M in back rent
Short-term rental firm had agreed to vacate property as part of corporate downsizing
New York
Jul 22, 2024
Manhattan parking giant Icon scooped up by Broe Group and Hudson Valley Parking Trust
ICON was last year’s top Manhattan retail lease, with 56K-sf garage on UES
Austin
Jul 22, 2024
City picks developers for long-planned East 11th Street development
Pleasant Hill Collaborative tapped for commercial and resi hub
Dallas
Jul 22, 2024
Hillwood locks in plans for massive mixed-use site in Denton
Project entails 6,000 houses, 3,000 apartments and around 5 million square feet of commercial space
Chicago
Jul 22, 2024
Sterling Bay selling off more Fulton Market land
Developer lists Carroll Avenue site where it planned a 14-story office building
South Florida
Jul 19, 2024
Lender sues to foreclose on Bay Harbor Islands condo site
Allure Development launched sales of 26-unit project in 2016
Austin
Jul 19, 2024
American Ventures bringing massive retail development to Elgin
Had 46-acre tract rezoned; plans 90K sf anchor store and surrounding pads
South Florida
Jul 19, 2024
Prestige scores $20M construction loan for Davie workforce housing project
Miami Lakes-based firm is planning Pioneer Lofts, a garden-style complex with 105 units