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Category Archives: RE News

Why long-term renters are buying homes in cities they’ll never live in

When buying a house in your own city is too expensive, find another city. The concept is finding traction among a growing number of would-be home buyers priced out of their own cities. The idea, according to the Wall Street Journal, is based on the strategy institutional investors followed after the housing market crashed when they snapped up single-family homes across the country at rock-bottom prices. Similarly, with the aid of new real estate tech […]

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The 10 most liveable cities in the world

America just isn’t that liveable compared to the rest of the world it seems. The annual global “liveability” ranking of cities saw the top 10 spots mostly split between Australia, Canada and Japan, according to CNBC. No American city made the top 20. The ranking is put together by the Economist Intelligence Unit and includes 140 cities in a process which considers healthcare, culture, infrastructure, crime and conflict, and education among others as factors in […]

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U.S. home prices grow at slowest rate in two years: report

The rate of price growth for homes across the country cooled in July for a fifth consecutive month, according to a recent Redfin analysis. The national median sales price grew at an annual rate of 5.3 percent last month (with median value logged at $307,400), as the brokerage noted in its report cited by Mansion Global. July’s slowdown is notable for reaching a low not seen since September 2016. Seattle, Portland and San Jose were […]

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Airbnb’s new concept offers olive branch to landlords, property managers while riling up residents

Airbnb is getting into multifamily rentals, though controversy continues to dog the tech company. The short-term rental giant has quietly laid the groundwork to operate rentals en masse out of 14 building complexes by 2020, according to Bloomberg. So far, Airbnb is operating two branded buildings in Nashville and Kissimmee, Florida, To execute the new business, Airbnb partnered with Miami-based developer Newgard Development Group for the venture now known as “Niido Powered by Airbnb,” which […]

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Will the White House get a say in who moves into the unit adjacent to Trump?

The chairman and CEO of MidFirst Bank Jeff Records is moving out of Trump Tower. The billionaire plans to list his Trump Tower apartment, 64/65 AB–an assemblage of two units adjacent to President Donald Trump’s penthouse triplex–for $24.5 million, according to the New York Post. The sale raises the question of how much control the White House will have in determining who Records’ buyer is. After all, as one source told the Post, “What is […]

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Tribeca townhouse linked to John Lennon and Yoko Ono’s invented country sold

The house at the center of John Lennon and Yoko Ono’s self-declared country, Nutopia, recently sold for about $8 million. The singer and his wife announced their new country and its Tribeca embassy at 1 White Street on April Fool’s Day in 1973 as part of an attempt to allow Lennon to stay in the country, according to the New York Post. They asked the United Nations to recognize Nutopia as a country and grant […]

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Costas Kondylis, the “developer’s architect,” dies at 78

Constantine “Costas” Kondylis, one of Manhattan’s most prolific architects and President Trump’s go-to designer, died on Friday. He was 78. Kondylis is best known for his frequent collaborations with Trump, but his mark on New York City reaches far beyond those projects. During his 50-plus year career in the city, he designed more than 86 buildings, including Trump World Tower, Silverstein Properties’ Silver Towers, the Moinian Group’s the Atelier and J.D. Carlisle Development’s One Morton […]

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Status update: HUD accuses Facebook of discriminatory housing ads

The U.S. Department of Housing and Urban Development is taking aim at Facebook, claiming the social networking website enables landlords and homeowners to discriminate against users. HUD filed a complaint against Facebook on Friday, alleging that the social platform’s housing ads violate the Fair Housing Act. A major selling point of Facebook’s ads has been its ability to target specific users. That feature, however, allows landlords and others to exclude specific users from seeing the […]

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Joseph Chetrit’s townhouse sale is one of the largest such deals of the year

Developer Joseph Chetrit sold one of his three Upper East Side townhouses, marking one of the priciest townhouse deals to close so far this year. The property at 110 East 76th Street sold for a price in the low-$40 million range, the Wall Street Journal reported. It was originally asking $51 million. The largest of the trio, the house is 36 feet wide and measures 15,000 square feet. The design features marble, onyx and brass […]

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Moinian just landed a loan on its Park Avenue South building

Moinian Group has secured a $55.3 million loan for 450-460 Park Avenue South. North American Company for Life and Health Insurance provided the loan on Murray Hill property, according to city records. The deal included $8.4 million in new debt. Representatives for Moinian and North American did not immediately respond to requests for comment. WeWork signed a lease in July to take roughly 50,000 square feet across six floors of the 12-story building. Other tenants include […]

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