The Real Deal - New York Real Estate News

A Sicilian town is selling homes for a single Euro

Posted: 19 Jan 2019 01:00 PM PST

Got a buck? Or, rather, a Euro? That could get you a home in scenic Sambuca de Sicilia, Italy. The town on the island of Sicily is selling off 17 properties there for as little as €1 to help attract people to a community experiencing depopulation, according to the New York Post. Of course, there’s a catch. New owners are obligated to invest at least $17,000 into improvements of the property within the first three […]

Gymboree files for bankruptcy again, closing some 900 North American stores

Posted: 19 Jan 2019 12:00 PM PST

Gymboree Group filed for bankruptcy this week and plans to close some 900 Gymboree and Crazy 8 stores in North America. The San Francisco-based children’s clothing company also has an agreement with Special Situations Investing Group, an affiliate of Goldman Sachs Group, to become the lead bidder for the chain’s Janie and Jack stores and other company assets, according to the Wall Street Journal. Gymboree first filed for bankruptcy protection in June 2017, weighed down […]

These weren’t the droids they were looking for: Japanese robot-hotel lays off its “annoying” android staff, pivots to humans

Posted: 19 Jan 2019 11:00 AM PST

The failed roll-out of a Japanese robot-staffed hotel is a cautionary tale for those who think similar consumer-technology will revolutionize the hospitality industry. The Henn-na, or “Strange,” Hotel in Sasebo, Japan, opened to much fanfare in 2015 as the world’s first robot-staffed hotel. But the android helpers there are being removed after complaints from guests who were frustrated the robots weren’t keeping pace with services like Siri or Alexa, according to the Wall Street Journal. […]

Even these high-end markets are “catching a cold” amid the housing slump

Posted: 19 Jan 2019 10:00 AM PST

Major global markets that once seemed insulated from the housing slump are getting caught in the slowdown. Cities like London, Hong Kong and New York are grappling with a more tepid market, Bloomberg reported. According to a Knight Frank index of high-end properties in 43 cities, luxury residential prices are growing at the slowest rate since 2012. “If New York and London are catching a cold, the primacy is large enough that they might have […]

The Hudson Yards mall is going to look like your internet browser

Posted: 19 Jan 2019 09:00 AM PST

A floor at the new Hudson Yards mall will be filled with companies that started as online-only retailers. The second floor of the project—scheduled to open on March 15 — will span 77,000 square feet and include companies such as sock maker Stance, men’s fitness apparel company Rhone and shoemaker M. Gemi, according to the Wall Street Journal. The move is meant to help developers cash in on the popularity of e-commerce. Online retailers have […]

Why Dubai is ready to pounce on some of Europe’s most famous hotels

Posted: 19 Jan 2019 08:00 AM PST

Ferit Şahenk, once Turkey’s richest man and owner of restaurants in New York and Miami, is in talks to sell some of Europe’s most famous luxury hotels to Dubai as part of a debt restructuring, sources told Bloomberg. The buyer, Dubai Holding, is controlled by the emirate’s ruler Sheikh Mohammed bin Rashid Al Maktoum. The hotels in question include two Italian properties – the historic Capri Palace, and the Aldrovandi Villa Borghese in Rome – […]

Owners behind LA’s $1B “Mountain” listing reject $400M offer

Posted: 19 Jan 2019 07:00 AM PST

The never-ending saga of the 157 acres of undeveloped land in Beverly Hills Post Office that can’t seem to find an owner willing to build on it will carry on at least a little while longer. The ownership group behind the so-called “Mountain of Beverly Hills” have rejected developer Scott Gillen’s $400 million offer to buy the property, TMZ reported. A spokesperson for Gillen confirmed the report to The Real Deal. Instead, Secure Capital Partners, […]

This week in celeb real estate: Ex-motorcycle racer seeks $30M, Muhammad Ali’s former home lists for sale.. and more

Posted: 19 Jan 2019 06:00 AM PST

This week saw a flurry of new listings hit the market, ranging from $17 million to $55 million. Sellers also dropped the prices of some older listings, the latest sign of a slowdown in the Los Angeles luxury residential market. The former home of the late heavyweight champion Muhammad Ali is being marketed for sale for just under $17 million. Located in the Hancock Park neighborhood, the Italian Renaissance estate boasts seven bedrooms and seven […]