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Category Archives: RE News

Keller Williams reports sales bump with fewer agents in 2019

After purging its roster of non-performing agents, Keller Williams said its 2019 sales volume rose 5.7 percent despite the lower headcount. The Gary Keller-led company, which is the largest franchise brokerage in the U.S., said agents closed more than 1.13 million transactions in 2019, up 3.4 percent year-over-year. Sales volume rose to $351.2 billion, up from $332.4 billion in 2018. But as of Dec. 31, 2019, Keller Williams said it had 169,317 agents worldwide. In

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Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

Heading into a long weekend, a handful of sellers had lofty hopes. The second week of February saw pricier listings than usual come online, with homes asking up to $45 million hitting the market. Notable sellers include a wealthy Russian couple and former WeWork CEO Adam Neumann. Combined, the five most expensive listings in New York City totaled $152.49 million. That’s nearly $62 million more than the previous week’s $90.96 million. The difference had more

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Compass sets sights on Long Island’s North Shore

Since last winter, Compass has sworn off launching new markets as it focuses on “depth, not breadth.” But on Long Island, that’s about to change. The SoftBank-backed brokerage is planning to launch on the North Shore, with offices in Manhasset and Cold Spring Harbor. No managers or leases are in place, sources said. But Douglas Elliman’s Nicholas Colombos announced his move to Compass on social media earlier this month. Colombos, along with Angela Dooley and

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Brooklyn man arrested for claiming to help victims buy Mitchell-Lama apartments

Authorities arrested a Brooklyn man charged with bilking three women out of tens of thousands of dollars in a scheme to jump the wait list to buy Mitchell-Lama apartments. Akim Sokolovski, 63, allegedly told the victims that he could help them buy apartments at the Mitchell-Lama complex he lives in — if they paid him in cash to avoid the lengthy waitlist at the property, the Brooklyn District Attorney’s Office said in a release. The

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Cobble Hill townhouse was Brooklyn’s priciest contract last week

A townhouse in Cobble Hill was the priciest residential deal to go into contract in Brooklyn last week. The four-bedroom unit at 355 Henry Street went for $5.4 million. It spans 13,600 square feet and went into contract at its asking price after 146 days on the market. Overall, Brooklyn saw 19 contracts signed for $2 million or more last week, split between 12 houses and seven condos, according to the latest report from Compass.

The post Cobble Hill townhouse was Brooklyn’s priciest contract last week appeared first on The Real Deal New York.

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How Blackstone became the world’s biggest landlord

Until about a decade ago, Blackstone Group derived most of its profits from traditional private equity. But following a dramatic expansion into real estate driven by CEO-in-waiting Jonathan Gray, massive property deals are now the company’s calling card. With an estimated real estate portfolio of $325 billion, Blackstone is now the world’s largest real estate company, according to Fortune. Of that total, $163 billion comes from Blackstone’s own real estate equity capital — which has

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With asking prices in freefall, luxury market sees strong week

The penthouse at World Wide Group and Rose & Associates’ 252 East 57th Street started life in 2014 asking an aspirational $37.5 million. Last week — with the building now complete and the market vastly different — the unit finally went into contract asking $23.75 million, a drop of 36 percent. It was the priciest of 20 contracts signed last week, according to a market report from Olshan Realty, illustrating the negotiations developers are engaging

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Keller Williams will cut off agents who leave

Keller Williams is cutting off associates who dump the franchise brokerage. Effective April 1, the company’s lifelong profit sharing program will not be available to associates who leave to join a competitor, Inman reported. The vesting period for associates to receive profit sharing has also increased from three consecutive years to seven consecutive years. The changes were made by the company’s International Associate Leadership Council meeting on Feb. 15, during its annual “Family Reunion” conference

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Brookfield fund buying SL Green’s 315 West 33rd Street for $447M

A Brookfield Asset Management-backed fund is buying 315 West 33rd Street from SL Green for $446.5 million, SL Green announced on Tuesday. The fund, known as Brookfield Premier Real Estate Partners, bought the mixed-use building known as “The Olivia” along with an adjacent parcel of undeveloped land for a price that worked out to roughly $906 per square foot. The deal should close by the second quarter of the year. SL Green co-Chief Investment Officer

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Trader Joe’s to open new UES store under Queensboro bridge

Trader Joe’s is continuing its New York City expansion. The city-owned space under the Queensboro Bridge spans roughly 50,000 square feet and was previously home to a Food Emporium, which closed five years ago. Patch.com first reported the news. Art supply retailer Michaels applied to fill the landmarked space on East 59th Street and First Avenue in 2017, but those plans fell through amid concerns over the store’s design. The fact the space was previously

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