The Real Deal - New York Real Estate News

Under the House Republicans’ new tax bill, some of the largest U.S. companies’ overseas cash earnings could be taxed at 12 percent. According to Goldman Sachs, American companies’ offshore holdings total $3.1 trillion — of these funds, taxes are not owed until the companies repatriate them to U.S. accounts, according to the current tax code. Here are the top 10 companies, ranked by Bloomberg in order of the size of the overseas holdings, that would […]

The late Jerry Perenchio’s undeveloped 70-acre Malibu property is on the market for $150 million, but the catch is the property is split into eight lots and the brokers do not want to sell them separately. “In a single transaction, someone is going to become the most important land owner in all of Malibu,” Savills Studley’s Mark Sullivan said to Bloomberg. The plots haven’t been on the market in over 30 years with one lot […]

Homes sales in Toronto have fallen about 19 percent compared to last year dovetailing with government policy changes, but the Toronto Real Estate Board is remaining optimistic. The smoking gun on the market’s slump seems to be a 15 percent tax on foreign ownership which the provincial government implemented in April, according to Mansion Global. The new policy may be deterring new buyers especially in the luxury market where home sales of $1.5 million or […]

WeWork’s expansion plans for its housing communities, known as WeLive buildings, haven’t met the company’s expectations, perhaps due to the fact that some tenants view it as a temporary crash pad, not a long term home. Known for renting co-working space around the world, WeWork has been striking big deals, buying Blackstone Group’s London offices for $785 million and buying Lord & Taylor’s Manhattan flagship for $850 million, amid questions about the company’s profits and […]

According to Twitter, house hacking is a thing in Silicon Valley. Though it sounds tech savvy, and probably complicated, the strategy exemplifies an age-old approach you may even be doing without knowing what it’s now called. Here’s a hint; this tweet went viral last month explaining to the great masses how to be a house hacker. Silicon Valley just figured out what being a landlord is pic.twitter.com/hMV7eHBRVU — fry (@anniefryman) October 28, 2017 House hacking […]

According to a new StreetEasy study that compared median income to median rents, Inwood is the last bastion of hope in a city where most tenants can’t technically afford their apartments. In half of the Manhattan, Brooklyn and Queens neighborhoods surveyed, the income required to rent by most landlords — yes, the golden rule of earning 40 times the rent in a year — is about double what most tenants actually make. There’s only 11 […]

The first UK interest rate increase in over a decade has variable-rate mortgages climbing while buyers into Britain’s prime housing market will feel no pain. The rate increase, from 0.25 percent to 0.5 percent was announced Thursday, which Knight Frank Finance’s managing partner Simon Gammon told Mansion Global would “immediately” effect variable-rate mortgage borrowers’ wallets. “This quarter point increase translates into an extra £250 [$327] a year in interest for every £100,000 [$131,000] of borrowing,” […]

A new library and cultural center outside of Beijing has become the obsession of the moment for book lovers online. Designed by the Rotterdam-based design firm, MVRDV, the almost 363,000-square-foot Tianjin Binhai Library’s book shelves simultaneously serve as stairs to take readers higher into the stacks as well as seating areas. “The Tianjin Binhai Library interior is almost cave-like, a continuous bookshelf,” MVRDV co-founder Winy Maas said in the firm’s press release. The curving walls […]