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Category Archives: RE News

Beyoncé and Jay Z just bought a $26M mansion in the Hamptons

The deal comes two months after they bought an $88M estate in Los Angeles

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Facebook nabs first urban office in San Francisco

Up to 3,000 Facebook employees are to be working in the heart of San Francisco by the end of the year. The tech giant inked a $35 million lease for 436,000 square feet of office space because busing employees about two hours through infamously bad traffic to company headquarters in Menlo Park was becoming unwieldy. Surprise, surprise. The deal is the biggest office lease signed in San Francisco in three years, according to Business Insider. […]

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Dropping soon: The Real Deal’s fall issue!

The Real Deal Los Angeles‘ fall magazine is set to hit newsstands this October! The upcoming issue is packed with the most important industry news and insider information, including a look inside the world of residential broker coaching and foreign investment in L.A. real estate. The October magazine will also look at the top commercial brokerages doing business in the San Fernando Valley, as well the city’s industrial boom — currently the most in-demand sector […]

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Tish James to city: Stop converting rent-stabilized units into homeless shelters

Mayor Bill de Blasio’s plan to curb homelessness in New York City is exacerbating the housing crisis, according to New York City Public Advocate Letitia James, who is calling on the mayor to stop allowing landlords of rent-stabilized apartments to turn their buildings into homeless shelters. The city has $98 million in contracts out with such building owners, who ironically are chipping away at the stock of affordable rental housing by repurposing their buildings for […]

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Council member planning a bill that would incentivize “affordable retail”

Affordable housing has been one of the most dominant topics in New York City over the past few years, and one City Council member now wants the conversation to include affordable retail as well. Council member Robert Cornegy, who represents Bedford-Stuyvesant and Crown Heights, told The Real Deal he plans to introduce legislation by the end of the year that would offer developers incentives like tax breaks and additional development rights if they agree to […]

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National Cheat Sheet: Online RE investment platform scores funding from Steven Cohen, Florida suspends construction rules to rebuild post-Irma … & more

AlphaFlow scores investment from Steven Cohen’s VC fund Online real estate investment platform AlphaFlow raised $4.1 million in a seed funding round this week. The investors were led by Steve Cohen’s Point72 Ventures and Resolute Ventures and included other big name tech funds. AlphaFlow buys residential bridge loans from crowdfunding companies and hard-money lenders and puts them on “an automated investment platform,” which allows institutions to invest in them. [TRD] Interest rates hold steady as […]

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Q&A: There’s a heavy bar to raise on construction safety

From the September issue: Spurred on by the rising number of construction site injuries and deaths over the last few years —  30 construction workers were killed in New York in 2015 and 2016, according to the Occupational Safety and Health Administration — the City Council is working to curb future tragedies with a comprehensive legislative package called the Construction Safety Act. While most bills in the package passed without much controversy, one has become a […]

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Seahawks coach Pete Carroll scores a touchdown for his LA home

From TRD LA: Football season has just begun and Seattle Seahawks’ Pete Carroll is already at the end zone. The football coach sold his longtime home on Openbrand Road in Rolling Hills for $3.05 million in an off-market transaction, the Los Angeles Times reported. Built in the 1950s, the home has four bedrooms, five bathrooms, cathedral-vaulted ceilings and four fireplaces within roughly 4,000 square feet of living space. A patio deck, swimming pool with spa […]

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Preservationists want the city to expand the Madison Square North Historic District

Manhattan preservationists are hoping the city will make the Madison Square North Historic District three blocks bigger. Several elected officials, including State Senator Brad Hoylman and Manhattan Borough President Gale Brewer, are calling on the Landmarks Preservation Commission to expand the Madison Square North Historic District in the wake of a failed attempt to landmark the neighborhood’s 116-year-old building at 316 Fifth Avenue, according to Curbed. The district runs from Madison Avenue to Sixth Avenue […]

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Reliance Realty buys Manhattanville rental

Reliance Realty Partners just scooped up a six-story rental building in Manhattanville for $30.8 million. The company purchased 326 Fort Washington Avenue, a 78-unit property between 174th and 175th streets, from Sentinel Real Estate Corporation, according to documents filed with the city Department of Finance. First Republic Bank provided a $15 million loan for the purchase. Tax records indicate that 34 of the apartments are rent-stabilized. According to Reliance’s website, the company manages another rental […]

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