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Category Archives: RE News

Same-sex couples denied a mortgage nearly 75% more often than heterosexual couples: report

Same-sex couples have a much harder time securing a mortgage than heterosexual couples. That’s according to the results of an Iowa State University study of 30 million mortgages originated across the country between 1990 and 2015, Housing Wire reported. The study found that same-sex couples were 73 percent more likely to be denied a mortgage. Same-sex couples were also charged slightly higher fees. On average, their fees are 0.5 percent higher than heterosexual couples. Researchers […]

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Real estate investors see safe harbor in New York, LA but wary of Chicago: survey

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 of about 200 real estate investors and investment managers from 24 countries identified New York as the “most stable and secure” city in the world to do business, and 39 percent said they want to “increase exposure there,” according to Crain’s. About 20 […]

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Industrious to open first co-working space in New Jersey

Industrious, the New York-based co-working and flexible-office space firm, is partnering with Taubman Properties to open their first New Jersey location at the Mall at Short Hills. The company will take over a 30,000-square-foot space previously occupied by Saks Fifth Avenue, the New Jersey Record reported. Industrious will offer a mix of co-working and office space at the site, which is set to open by the end of the year. This is not Industrious’ first […]

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JLL I-sales broker out amid merger with HFF

In the midst of JLL’s takeover of capital-markets specialist HFF, one of the legacy institutional sales brokers from JLL is out. Yoav Oelsner, who was part of a small team that handled JLL’s big-ticket sales, recently left the company, sources told The Real Deal. When reached Thursday afternoon, Oelsner confirmed he left the brokerage and said he was looking forward to working on new opportunities, but declined to comment further. A spokesperson for JLL did […]

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Fannie Mae issues ruling on renting newly-purchased second homes on Airbnb

Second-home owners who want to rent out their properties will breath a sigh of relief, and perhaps make a bit of cash. A newly rewritten document from Fannie Mae suggests homeowners and lenders may have been misinterpreting rules around rentals of second homes since 2001. Fannie Mae’s April 3 clarification of the “Second-Home Rider” shows that homeowners are allowed to rent out a second home after one year of ownership, and that short-term renting during […]

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De Blasio fund that solicited cash from developers under state investigation

It turns out another watchdog is probing Mayor de Blasio’s defunct non-profit fundraising group “The Campaign for One New York.” The state’s ethics watchdog, the Joint Commission on Public Ethics (JCOPE), confirmed to The City that there is an ongoing investigation into the group. The commission has already settled two cases as part of the probe, including hitting James Capalino, a lobbyist who improperly provided gifts to public officials, with at $40,000 fine. It was […]

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More Americans are choosing not to tap into their home equity

American homeowners are doing something surprising: Despite record amounts of home equity available to them — an estimated $1.5 trillion worth — they are tapping into it less via home-equity credit lines (HELOCs) and cash-out refinancings. The big question is why. Are people simply getting more frugal? Or are other forces at work? Economists who specialize in housing aren’t totally sure, but everyone agrees: Homeowner behavior has changed from previous years. Cash-out refinancings use the […]

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National Cheat Sheet: Blackstone Group plans to become a corporation, NAR hit with new antitrust suit … & more

Blackstone Group plans to change its corporate structure effective July 1 Blackstone Group plans to become a corporation in an effort to “make it significantly easier for both domestic and international investors to own [its] stock,” CEO Stephen Schwarzman said. The change in corporate structure will go into effect on July 1, the company said. The move follows in the footsteps of competitors KKR and Ares Management corp., which already changed their corporate status. News […]

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Owners of NoMad Hotel failed to pay $100M to lenders and investors

It seemed like the hotel project that couldn’t fail. But new documents filed as part of a state and federal lawsuits show that the owners of the NoMad hotel at 1170 Broadway neglected to repay more than $100 million owed to lenders and equity investors starting in late 2018, Commercial Observer reported. Andrew Zobler’s Sydell Group and Make It Nice own the hotel through a ground lease with the Haddad Organization, which is suing the […]

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This 19th century UES townhouse just traded hands for a loss

An Upper East Side townhouse that dates back to 1883 just sold for $21.5 million. The seller, who paid $23.5 million for the property at 51 East 80th Street in 2014, took a loss on the deal. The townhouse was sold by North Fifth LLC, with Richard Gold as a managing member, according to records filed with New York City’s Department of Finance. Gold is an executive at private investment firm General Atlantic. The buyer […]

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