The Real Deal - New York Real Estate News

Relaxing the rules: Millennial buyers are prompting some co-op boards to loosen up

Posted: 05 Jan 2019 01:00 PM PST

Vying to lure in more young buyers, some co-op boards are loosening their rules. Some boards are trying to ease requirements about approvals and subletting to make home values more in line with condos, Forbes reported. “So many mindful co-ops are trying to act more like condos these days, so they can attract higher prices from a wider audience,” Compass agent Brian Lewis told Forbes. “I’ve never encountered a condo that wants to act more […]

Portland real estate offices vandalized with graffiti threats

Posted: 05 Jan 2019 12:00 PM PST

When employees at two Portland brokerages returned from the holidays on Wednesday, they found their offices’ windows, walls and doors covered in graffiti. The threatening language included “die” and “get out,” as well as the misspelled “gentyfiers”, according to local news reports. News footage also showed the word “happy” scrawled on one window. The offices, which belonged to local brokerages Urban Nest Realty and Living Room Realty, are located about two miles apart in the […]

Judge settles real estate dispute between musicians Jimmy Page and Robbie Williams

Posted: 05 Jan 2019 11:00 AM PST

A judge has ended the real estate battle between Led Zeppelin rock star Jimmy Page and pop star Robbie Williams. The two musicians live next door to each other in London and have been fighting a legal battle over Williams’ plans to build a “megabasement” for his house complete with a pool and a gym, according to Forbes. Page objected to the idea, claiming that it would risk damaging the foundation of his 19th-century home […]

How to save a (literally) sinking city

Posted: 05 Jan 2019 10:00 AM PST

What do you do if your city is sinking? Move it a few miles east. That’s the plan for Kiruna, Sweden. A section of the country’s youngest and northernmost city is relocating roughly 1.8 miles to the east, according Post Magazine. Part of the city will be demolished and rebuilt elsewhere, while some buildings will be physically relocated. The city is sinking for the same reason it was founded in 1900: it sits atop a […]

10 cities where you can buy a home on an annual salary of $60K or less

Posted: 05 Jan 2019 09:00 AM PST

Want to buy an affordable home in a flourishing city? It might be a pipedream in New York City or Los Angeles, but elsewhere in the country it’s possible to buy a home on an annual salary of $60,000 or less in one of America’s new “boomtowns.” Personal finance site MagnifyMoney crunched numbers to find “boomtowns,” areas with the fastest growing local industries, populations, and work opportunities in the country. CNBC’s Make It then compared […]

Even free cars and nearly $13K in Uber credit can’t stave off London’s housing market’s “darkest hour”

Posted: 05 Jan 2019 08:01 AM PST

London’s previously soaring property market has gone into reverse as Brexit uncertainty looms. Real estate agents and brokers have signaled that property sales, particularly to foreign buyers, are taking a turn for the worst, and the data is showing a housing market in decline. According to the Wall Street Journal, a boom in development in the lead up to the 2016 Brexit vote has created an oversupply of condos in the city, as potential buyers […]

This week in celeb real estate: Adam Levine drops $32M in the Palisades, Salma Hayek plots new mansion… and more

Posted: 05 Jan 2019 07:00 AM PST

If the first week was any indication, 2019 could be a big year in celebrity real estate, filled with mega-mansion sales, eye-popping listings and celebrity home-swaps. Adam Levine and his supermodel wife Behati Prinsloo started off the year by plunking down $32 million for Jennifer Garner and Ben Affleck’s mansion in Pacific Palisades. The former couple has been quietly shopping the 16,000-square-foot residence after divorcing late last year, TMZ reported. They paid $17.6 million for […]

Teavana founder buys Versailles-inspired estate at huge discount

Posted: 05 Jan 2019 06:00 AM PST

Teavana co-founder Andrew Mack paid $42.5 million for an ornate waterfront South Florida estate, a massive discount from the original $159 million asking price in 2015, The Real Deal has learned. Developer Robert Pereira sold Playa Vista Isle, previously called “Le Palais Royal,” to Oppornova LLC, a Delaware company, property records show. Concierge Auctions and Ralph Arias of One Sotheby’s International Realty represented the seller of the 60,000-square-foot mansion. The auction, which occurred in November, […]