Billionaire Michael Dell is buying the 1,000-plus room Boca Raton Resort
Jonathan Gray, Michael Dell and Boca Raton Resort Billionaire Michael Dell’s MSD Partners is under contract to purchase the waterfront 1,047-room Boca Raton Resort & Club from the Blackstone Group. The deal is expected to close at the end of [...]
South Florida realtor killed in South Beach boat crash
Christopher Colgan and Elisaine Colgan (Credit: Facebook) A South Florida real estate agent was among those killed in a boat crash in South Beach on Saturday night. Elisaine Colgan, with Lokation Real Estate, formerly the K Company Realty, and her [...]
Going private: Fed housing finance chief details plan to end Fannie-Freddie oversight
FHFA chief Mark Calabria and the Fannie Mae headquarters in Washington DC (Credit: Carr Properties) President Trump has not been shy about his desire to end the federal conservatorship of Fannie Mae and Freddie Mac. Now, he appears to have someone [...]
Inside the tension behind the scenes at Keller Williams
Keller Williams co-founder Gary Keller at the company’s annual convention, where he gavea three-hour update on the firm’s $1 billion tech push On a recent early-morning flight to New Orleans, a flight attendant with an acute sense of comedic timing [...]
Terry Stiles’ widow sells Fort Lauderdale waterfront mansion for $10M
Terry Stiles and 776 Southeast 10th Street (Credit: Realtor) Jamie Stiles, widow of the late commercial developer Terry Stiles, sold the couple’s waterfront Fort Lauderdale mansion for $10.1 million. Stiles sold the 8,166-square-foot-estate at 1776 Southeast 10th Street for [...]
Man exposes himself to 3 children on Sunny Isles Beach, police say
SUNNY ISLES BEACH, Fla. - A man was arrested … himself to three children on Sunny Isles Beach, police said. Giraldo Palacio, 53 …
Trump administration toughens up rules for no-money-down home mortgages
FHA Commissioner Brian Montgomery (Credit: Pixabay and Wikipedia) The Trump administration is toughening up rules on national affordable housing programs due to concerns over risk to the roughly $1.3 trillion portfolio the government has in federally insured mortgages. The crackdown [...]
ESJ Capital sells troubled Wellington charter school for $14M
ESJ Capital’s Arnaud Sitbon and Eagle Arts Academy ESJ Capital Partners sold the site of a former troubled Wellington charter school for $14 million. Eagle Arts Academy was shut down by the Palm Beach County School Board last summer after [...]
WeWork shuffles C-suite executives amid international push
From left: Adam Neumann, Eugen Miropolski and Jen Berrent (Credit: Getty Images and Twitter) The co-working giant formerly known as WeWork is reorganizing its C-suite as it tries to build its international presence. The We Company promoted Eugen Miropolski to [...]
Students prepare to run Business Meeting
Students from eleven local public and private schools recently met at the Aventura Marketing Council/Chamber of Commerce office to receive their orientation on their responsibilities as a Student Leader for the annual Student-Run Breakfast Meeting in …
NYC developers have been using this loophole to build taller. But not for long
Central Park Tower at 217 West 57th Street and 432 Park Avenue (Credit: Wikipedia and Pixabay) Manhattan developers for years have boosted the heights of their towers by using a loophole in the city’s zoning laws. Developers have included what’s [...]
Bronfman scion buys Homestead affordable housing complex
From left: Elliot Shainberg and Deme Mekras with the Riverwalk Apartments II A company tied to a member of the wealthy Bronfman family bought a 112-unit affordable apartment complex in Homestead for $12 million, signaling investors’ growing interest in south [...]
Study: Consumer demand continues to be more eco-friendly
NAR's Sustainability 2019 Report found that 3 out of 5 residential buyers are interested in sustainability, and 7 out of 10 agents promote it in their listings.
Fla.’s housing market: Pending sales, median prices up in March
Fla. Realtors data: Pending home sales up; year-over-year median prices up 2% for single-family homes, 3.6% for condo-townhouses. It was the highest number of new pending sales seen in any month across previous 11 years, says Chief Economist O'Connor.
Lone Wolf Technologies acquires zipLogix
Calif. Realtors sold the transaction management platform. NAR's agreement to provide free zipLogix to members will continue until at least the end of 2020.
NAR: U.S. existing-home sales slide 4.9% in March
Prices rose 3.8% year-to-year, but a sales surge in Feb. faltered in March. Still, 47% of listings were on the market less than a month before going under contract.
Recession lesson: Fewer owners tapping home equity
Are people getting more frugal? Other forces at work? Housing economists aren't totally sure, but they agree: Homeowner behavior has changed from previous years.
TV shows give owners a can-do attitude about renovations
Nearly 60% of home shoppers planning to buy within the next 12 months said that television has made them more optimistic about doing their own renovations.
Michelle Black: Divorce can seriously hurt your credit score – especially if you’re a woman
For many people, divorce is a difficult and painful experience to navigate. The process of dissolving a once-loving marriage, making new living arrangements and separating joint finances can be complicated. … Click to Continue »
How to Prep a Yard for Spring Buying: 5 Tips
Photo Courtesy: OPEI By Kris Kiser, President & CEO of the Outdoor Power Equipment Institute (OPEI) As the spring selling season kicks into high gear, real estate and staging professionals can help their clients enhance their listings by creating an [...]
Virgin Trains closes $1.75 billion bond issue to fund expansion to Orlando
From left: Francis Suarez, Patrick Goddard, Richard Branson, Esteban Bovo and Ken Russell From left: Francis Suarez, Patrick Goddard, Richard Branson, Esteban Bovo and Ken Russell Virgin Trains USA, formerly Brightline, closed a $1.75 billion private-activity bond issue to fund [...]
Two South Florida firms acquire shopping center just north of Orlando airport for $12.25M
Century Plaza in Orlando Two South Florida firms acquired a fully leased shopping center in Orlando for $12.25 million, or $92 per square foot, with a loan from Miami Lakes-based BankUnited. Palm Beach-based M Street Holdings and Miami-based Highline Real [...]
Blackstone claims to be caught in “brazen attempted shakedown” over Italian office complex
Milan (Credit: Pixabay, iStock) Blackstone Group is fighting an Italian media mogul in court over ownership of an office complex in Milan. RCS Media Group SpA sold the three-building office complex, its former headquarters, to Blackstone for 120 million euros [...]
What’s behind Sweden’s unlikely co-living craze
(Credit: iStock) In a country where 52% of households are single people, co-living would seem like a unlikely bet, but a dire housing shortage seems to fueling a societal shift. Residential properties in Stockholm marketed as co-living quarters have increasingly [...]
Brexit banking exodus fuels real estate gold rush in Dublin
(Credit: iStock) Debt investors are eager to lend a helping hand to Irish landlords looking to acquire rental housing for employees of banks and law firms moving from London to Dublin. As the U.K.’s struggles to exit the European Union [...]
This lender plans to underwrite $1B in mortgages with no income, no asset verification
(Credit: iStock) Austin, Texas-based 360 Mortgage Group just revealed that it will conduct a pilot program to test the viability of no-income, no-asset mortgage loans by originating up to $1 billion of them to finance investor-owned homes. The housing crisis [...]
Brokerage apologizes for sexy video to promote upscale listing
A real estate brokerage firm in Australia is apologizing for posting a sexy video to market a luxury home after it drew widespread ridicule on social media. Sam Nadler, an agent with LJ Hooker Bankstown, the Sydney-based brokerage, arranged for [...]
Johnson & Johnson heirs list newly subdivided estate
The crown jewel of late Johnson & Johnson heiress’ real estate holdings is back on the market. The late Elizabeth Ross “Libet” Johnson, great-granddaughter of the Johnson & Johnson co-founder, first started assembling her sprawling 600-acre estate called Lightning Tree [...]
Auto dealership builder buys parcels near I-95 in Palm Beach Gardens for $17M
Robert Rawe (Credit: Bill Barbosa Photography) The chief executive officer of a company that builds auto dealerships paid $17 million for three parcels just east of Interstate 95 in Palm Beach Gardens. Robert Rawe, CEO of AutoBuilders, plans to construct [...]
Developer finishes 10-story Coral Gables condo with 65% of the units under contract
Merrick Manor The Astor Companies completed Merrick Manor, a 10-story building with 227 condominium units, the largest condo developments delivered in Coral Gables in nearly a decade. Astor received a temporary certificate of occupancy for the building at 301 Altara [...]
Saudi princess puts Mulholland Estates abode on the market
Princess Maha bint Mishari Abdulaziz Alsaud’s Asian-inspired mansion in the Mulholland Estates (Credit: Douglas Elliman) An opportunity to live like royalty is now up for grabs for under $10 million. Princess Maha bint Mishari Abdulaziz Alsaud has listed her Asian-inspired [...]
A Titanic survivor’s estate is on the market for $1.8M
The former home of a woman saved from the Titanic is now on the market for $1.795 million. The property known as Overledge — at 159 River Road in Nyack — dates back to 1916, Inman reported. Margaret Welles Swift, [...]
Put a ring on it: Iconic Las Vegas chapel hits the market for $12M
Joanne Woodward and Paul Newman married in 1958 at A Little White Chapel (Credit: Wikimedia Commons) One of the most famous churches in Las Vegas is on the market for $12 million. A Little White Chapel, the small venue on [...]
Florida cops snuck cameras into massage parlors years before Robert Kraft’s prostitution sting
… controversial tactic. In South Florida, the police have used … few years in South Florida, usually resulting in charges … owner, Xiaoqin Li, of Sunny Isles Beach in Miami-Dade County. Li … most serious offenses’ under Florida law,” wrote [...]
Aby Rosen is no longer planning a hotel for the Chrysler Building
The Chrysler Building at 405 Lexington Avenue and RFR Holding’s Aby Rosen (Credit: Getty Images) As the new owner of the Chrysler Building, Aby Rosen is weighing his options — and a hotel is no longer one of them. The [...]
Chicago’s first building code overhaul in 70 years could boost housing market: experts
Buildings Department Commissioner Judy Frydland (Credit: iStock; illustration by Kevin Rebong for The Real Deal) The City Council’s recent move to update Chicago’s building code for the first time in 70 years could be a boon for the real estate [...]
This week in celeb real estate: Lindsey Buckingham in Brentwood and Adam Levine in Beverly Hills list their big-ticket homes… and more
From left: Behati Prinsloo and Adam Levine with their home, and Peter Morton and his home (Credit: Getty Images, Zillow and Wikipedia) In this week’s celebrity real estate, two big-name musicians have listed their equally big-ticket homes. Fleetwood Mac lead [...]
Zillow sues Compass for poaching execs, allegedly stealing trade secrets
Zillow CEO Richard Barton and Compass CEO Robert Reffkin (Credit: Zillow, Compass, iStock). Zillow Group slammed Compass with two lawsuits late Friday, alleging the SoftBank-backed brokerage hired three executives in violation of their non-competes as it staffed up its nascent [...]
Real estate investors see safe harbor in New York, LA but wary of Chicago: survey
New York, Los Angeles and Chicago (Credit: iStock) Amazon’s pull-back and Albany’s political tumult aren’t enough to keep international real estate investors from seeing New York City as the safest place in the world to park their money. A survey [...]
Amid rising demand, investors acquire apartment portfolio in Little Havana
Abiel Ballesteros with 676 Southwest Second Street, and 529 Southwest Seventh Court (Credit: Google Maps) A group of investors has acquired a 103-unit apartment portfolio in Miami’s Little Havana, with plans to upgrade the properties and flip them amid heightened [...]