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  1. Distressed CRE loans surge nationwide
  2. American Dream losses ballooned to $245M in 2022
  3. Adams wants to scrap parking mandates in new resi projects
  4. Alex Diaz de la Portilla’s family home faces foreclosure auction
  5. Somerset, Meadow hand Midtown office building to Fortress
  6. Tranche warfare: Lenders tussle for control of distressed real estate
  7. RE/MAX paying $55M to settle brokerage commission lawsuits
  8. Double-digit rate hikes ahead for Citizens customers 
  9. Two New Jersey construction company owners plead guilty to tax crimes
  10. JLL lists nonperforming $240M loan on 61 Broadway
Walter & Samuels Faces Midtown Foreclosure After WeWork Split
Commercial
New York

Walter & Samuels faces Midtown foreclosure after WeWork split 

Landlord defaulted on a $77 million loan
Paxton and Paul Spoke the Common Language of Real Estate
Politics
Texas

Favor fluency: Ken Paxton and Nate Paul speak the universal language of real estate

Friendship isn’t illegal, but it sure can look suspect
Top NYC Resi Brokers Investigated in Section 8 Voucher Probe
Residential
New York

Elliman, top agents named in Section 8 discrimination suit

Noble Black, Holly Parker and Tamir Shemesh among top brokers in suit
Jerry Jones’ Nephew Leads @Properties Austin Expansion
Residential
Austin

Jerry Jones’ nephew Jerry Mooty Jr. leads @Properties Austin expansion

Luxury brokerage will open this fall with Romeo Manzanilla as principal
Rethinking Downtown San Francisco, One Alleyway at a Time
Commercial
San Francisco

Downtown SF Partnership rethinking downtown doom loop boom loop

Landing at Leidesdorff offers pilot project to turn “doom loop” into “boom loop”
Judge Dismisses Challenge to Hochul’s Penn Station Plan
Development
New York

Judge dismisses challenge to Hochul’s Penn Station plan

Vornado’s development is already on pause
Climate insurance bubble in danger of popping
Residential
National

Climate insurance bubble in danger of popping

Home insurance costs could skyrocket when policies catch up to risks
Rishi Kapoor’s Cocoplum Home Targeted In Foreclosure
Residential
South Florida

Rishi Kapoor could lose his waterfront Cocoplum home to foreclosure

Location Ventures ex-CEO and his wife allegedly owe $4.6M to private lender
Rent-stabilized Landlord Sells Portfolio At 44% Discount
Commercial
New York

Cut and run: Rent-stabilized landlord sells at 44% haircut

Deal shows blow 2019 rent law dealt to valuations

New York

Top NYC Resi Brokers Investigated in Section 8 Voucher Probe
New York
Sep 20, 2023

Elliman, top agents named in Section 8 discrimination suit

Noble Black, Holly Parker and Tamir Shemesh among top brokers in suit
Manhattan luxury activity drops to 12-month low
New York
Sep 18, 2023

Manhattan luxury activity drops to 12-month low

Prices were also down for luxury homes in the borough
Marathon Chasing Signature Bank’s $33B Loan Portfolio
New York
Sep 19, 2023

Bruce Richards’ Marathon chasing $33B Signature loan portfolio

FDIC started marketing debt this month in blocks
The Daily Dirt Breaks Down Eric Ulrich Indictments
New York
Sep 20, 2023

The Daily Dirt: A closer look at Eric Ulrich’s real estate-related charges

Sizing up the favors former DOB boss is alleged to have pulled for projects
Saint Laurent Signs Meatpacking District Lease
New York
Sep 21, 2023

Saint Laurent signs Meatpacking District store lease

French fashion house inks lease at Aurora Capital and William Gottlieb’s Gansevoort Row
Eric Adams Pitches End to Parking Mandates
New York
Sep 21, 2023

Adams wants to scrap parking mandates in new resi projects

Text amendment in “City of Yes” plan also includes legalizing ADUs

South Florida

South Florida Condo Developers Tap into Messi Frenzy
South Florida
Sep 21, 2023

South Florida developers zero in on Messi fever 

New condo projects report uptick in buyers from Latin America and Mexico
Boucher, Major Food Group Picked For Nikki Beach Takeover
South Florida
Sep 21, 2023

No surprise! Boucher, Major Food Group on track to win Nikki Beach Club bid

City manager Alina Hudak and evaluation committee recommend city commissioners approve new lease with politically connected joint venture
CrossCountry’s Leonhardt Sells Fort Lauderdale Home for $30M
South Florida
Sep 21, 2023

CrossCountry Mortgage chief Ron Leonhardt sells waterfront Fort Lauderdale mansion for $30M

Leonhardt bought the 9,500 sf house for $23M in 2021
Hammocks Wins $2M Settlement in Case Against Ex-Board Members
South Florida
Sep 21, 2023

Hammocks wins $2M settlement in suit claiming ex-HOA leaders allowed massive fraud

Receiver accused non-criminally charged board members of empowering scheme by doing nothing to stop it
Shamrock at Sunrise apartment complex at 4001 North Pine Island Road in Sunrise
South Florida
Sep 21, 2023

J. Milton scoops up apartment complex in Sunrise for $29M

Family firm pays over $240K per unit
The Richman Group Lists Dev Site Near Metrorail Station
South Florida
Sep 20, 2023

Richman lists dev site approved for mixed-use project near Metrorail station

Site plan was for an 11-story building with 374 apartments and nearly 4K sf of retail

Los Angeles

Chinese Development Company Accuses Cole Harris of Fraud
Los Angeles
Sep 21, 2023

“Their personal piggy bank”: Chinese RE firm accuses Cole Harris of siphoning millions

Former CA Lt. Governor candidate allegedly used Chinese bank loan to fund luxurious lifestyle
Suit Seeking Homes at the VA West LA Campus May Go to Trial
Los Angeles
Sep 21, 2023

Veterans’ lawsuit seeking homes at the VA West LA campus may go to trial

Judge issues tentative ruling after rethinking “the entire jurisprudence”
Olympic-Barrington Partnership Eyes 51 Units in Studio City
Los Angeles
Sep 21, 2023

Olympic-Barrington Partnership plans to build 51 apartments in Studio City

West Hollywood developer would demolish a 1,500 sf home built in 1940
Josh Flagg of “Million Dollar Listing” Co-Founds Estate Media
Los Angeles
Sep 20, 2023

Josh Flagg of “Million Dollar Listing” co-founds real estate media company

Los Angeles-based Estate Media targeted to home sellers, buyers and real estate pros
Emerald Bay Waterfront Home Sells for $43 Million
Los Angeles
Sep 20, 2023

Emerald Bay deal may take record for priciest PSF in Orange County

Laguna Beach deal earlier this month costs $15,700 PSF
Harridge Wants 600 Apartments at Baldwin Hills Crenshaw Plaza
Los Angeles
Sep 20, 2023

Harridge plans more than 600 apartments as part of South LA mall revival

Two years ago the development firm announced a $1B overhaul of the iconic Beverly Hills Crenshaw Plaza

San Francisco

Investors Team Up for $74M Buy of Fairfield Residential’s San Jose Apartment Complex
San Francisco
Sep 21, 2023

Archway Equities and Virtú Investments partner on $74M San Jose apartment deal

Sale of 190-unit community the latest in a string of San Jose multifamily sales
TimeSpace Group Wants to Convert Alexandra Theatre Into Housing
San Francisco
Sep 21, 2023

TimeSpace Group wants to convert historic SF movie theater into homes

Developer and city cut deal to turn the Alexandra Theatre into 76 units
Salon Owner Has Plans for San Francisco’s Maiden Lane
San Francisco
Sep 20, 2023

Salon owner wants to jumpstart SF’s historic Maiden Lane

Blake McCall pitching dining and retail at once-thriving pedestrian mall
Terracommercial Eyes Housing Development in South San Jose
San Francisco
Sep 20, 2023

Terracommercial eyes razing strip mall for 172 homes in South San Jose

Project would replace 70K sf retail center
Head-Royce School to Build 11 Buildings in Oakland Hills
San Francisco
Sep 21, 2023

Head-Royce School to build 11 new buildings in Oakland Hills

Prep academy survives pushback by neighbors, will expand onto 8 acres across street
Marshy Island in SF Bay Goes Up for Sale at $75M
San Francisco
Sep 21, 2023

Marshy private island in San Francisco Bay goes up for sale at $75M

Solano County listing appeals to Silicon Valley billionaires hoping to build new city

Chicago

Adventus Dealt $350M Foreclosure Suit During Bankruptcy
Chicago
Sep 20, 2023

Adventus dealt $350M foreclosure suit during bankruptcy

Canadian REIT poised to lose suburban Chicago, Atlanta office portfolio
Mayor Johnson Reshaping Invest South/West Program
Chicago
Sep 21, 2023

Johnson scraps Invest South/West’s name, reevaluates development program

Will take a “very different plan” to form new initiative with similar aim, deputy mayor says
Gene Staples Pays $30M for Distressed O’Hare Office Building
Chicago
Sep 20, 2023

Gene Staples pays $30M for distressed O’Hare office building

International Tower’s lender Bridge Investment retains stake through seller financing
Hardware Scion’s Estate Shaves $5M off Lake Geneva Mansion
Chicago
Sep 20, 2023

Hardware scion’s estate shaves $5M off Lake Geneva’s Aloha Lodge

Eight-bedroom home originally listed at $35M in May
Tupanjac’s last-second bankruptcy scuttles $16M Highwood foreclosure sale
Chicago
Sep 21, 2023

Tupanjac’s last-second bankruptcy scuttles $16M Highwood foreclosure sale

Developer slowplayed blighted Hotel Moraine restoration, Midland Bank alleges
Lender Taking Over Palmer House Retail with Foreclosure Sale
Chicago
Sep 20, 2023

Lender taking over Palmer House retail space with $30M foreclosure sale 

Loan’s special servicer LNR Partners made winning bid in recent sheriff’s sale

Texas

Paxton and Paul Spoke the Common Language of Real Estate
Texas
Sep 21, 2023

Favor fluency: Ken Paxton and Nate Paul speak the universal language of real estate

Friendship isn’t illegal, but it sure can look suspect
Jerry Jones’ Nephew Leads @Properties Austin Expansion
Austin
Sep 21, 2023

Jerry Jones’ nephew Jerry Mooty Jr. leads @Properties Austin expansion

Luxury brokerage will open this fall with Romeo Manzanilla as principal
Todd Interests Reveals New Docs in Eminent Domain Brawl
Texas
Sep 19, 2023

“Punish those bastards”: Todd shows receipts in eminent domain fight

Details emerge in battle over former state park
SEC Fines CBRE Over Alleged Whistleblower Rule Violation
Texas
Sep 20, 2023

CBRE fined after whistleblower protection investigation

Employees were required to sign release to receive separation pay
Capital A, NHP Score $75M Construction Financing
Texas
Sep 21, 2023

Capital A, NHPF score $75M construction financing for affordable housing in Austin

East Austin project to bring 204 below-market-rate units
TikTok Plans to Occupy Austin Offices Instead of Subleasing
Austin
Sep 20, 2023

TikTok pulling four full floors off Austin office sublease market

Social media company filed plans to finish out almost 85,000 square feet at 300 Colorado

Residential

all markets
CrossCountry’s Leonhardt Sells Fort Lauderdale Home for $30M
South Florida
Sep 21, 2023

CrossCountry Mortgage chief Ron Leonhardt sells waterfront Fort Lauderdale mansion for $30M

Leonhardt bought the 9,500 sf house for $23M in 2021
Olympic-Barrington Partnership Eyes 51 Units in Studio City
Los Angeles
Sep 21, 2023

Olympic-Barrington Partnership plans to build 51 apartments in Studio City

West Hollywood developer would demolish a 1,500 sf home built in 1940
TimeSpace Group Wants to Convert Alexandra Theatre Into Housing
San Francisco
Sep 21, 2023

TimeSpace Group wants to convert historic SF movie theater into homes

Developer and city cut deal to turn the Alexandra Theatre into 76 units
Hammocks Wins $2M Settlement in Case Against Ex-Board Members
South Florida
Sep 21, 2023

Hammocks wins $2M settlement in suit claiming ex-HOA leaders allowed massive fraud

Receiver accused non-criminally charged board members of empowering scheme by doing nothing to stop it
Outer Boroughs Catching Up to Manhattan in New Condo Sales
New York
Sep 21, 2023

Outer boroughs catching up to Manhattan in new condo sales

Brooklyn on pace to surpass Manhattan’s sales volume in 5 years
Emerald Bay Waterfront Home Sells for $43 Million
Los Angeles
Sep 20, 2023

Emerald Bay deal may take record for priciest PSF in Orange County

Laguna Beach deal earlier this month costs $15,700 PSF

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Commercial

all markets
Head-Royce School to Build 11 Buildings in Oakland Hills
San Francisco
Sep 21, 2023

Head-Royce School to build 11 new buildings in Oakland Hills

Prep academy survives pushback by neighbors, will expand onto 8 acres across street
Boucher, Major Food Group Picked For Nikki Beach Takeover
South Florida
Sep 21, 2023

No surprise! Boucher, Major Food Group on track to win Nikki Beach Club bid

City manager Alina Hudak and evaluation committee recommend city commissioners approve new lease with politically connected joint venture
Marshy Island in SF Bay Goes Up for Sale at $75M
San Francisco
Sep 21, 2023

Marshy private island in San Francisco Bay goes up for sale at $75M

Solano County listing appeals to Silicon Valley billionaires hoping to build new city
Saint Laurent Signs Meatpacking District Lease
New York
Sep 21, 2023

Saint Laurent signs Meatpacking District store lease

French fashion house inks lease at Aurora Capital and William Gottlieb’s Gansevoort Row
Shamrock at Sunrise apartment complex at 4001 North Pine Island Road in Sunrise
South Florida
Sep 21, 2023

J. Milton scoops up apartment complex in Sunrise for $29M

Family firm pays over $240K per unit
Tides Workouts Heighten Loss Expectations: Morningstar
National
Sep 21, 2023

After two Tides workouts, loss expectations raised

Morningstar bumps loss expectations to 1.5x that of larger loan pool

Development

all markets
Tupanjac’s last-second bankruptcy scuttles $16M Highwood foreclosure sale
Chicago
Sep 21, 2023

Tupanjac’s last-second bankruptcy scuttles $16M Highwood foreclosure sale

Developer slowplayed blighted Hotel Moraine restoration, Midland Bank alleges
Capital A, NHP Score $75M Construction Financing
Texas
Sep 21, 2023

Capital A, NHPF score $75M construction financing for affordable housing in Austin

East Austin project to bring 204 below-market-rate units
Chinese Development Company Accuses Cole Harris of Fraud
Los Angeles
Sep 21, 2023

“Their personal piggy bank”: Chinese RE firm accuses Cole Harris of siphoning millions

Former CA Lt. Governor candidate allegedly used Chinese bank loan to fund luxurious lifestyle
The Daily Dirt Breaks Down NYC’s Mass Timber Experiment
New York
Sep 21, 2023

The Daily Dirt: NYC seeking to ramp up mass timber construction

Analysis of New York’s top real estate news looks at city’s dabbling with mass timber
JVP Greenlighted to Start $3B Megadevelopment the Mix in Frisco
Texas
Sep 20, 2023

JVP greenlighted for $3B The Mix in Frisco

First phase will include 100K sf of retail and 653 apartments
The Richman Group Lists Dev Site Near Metrorail Station
South Florida
Sep 20, 2023

Richman lists dev site approved for mixed-use project near Metrorail station

Site plan was for an 11-story building with 374 apartments and nearly 4K sf of retail