The Real Deal - New York Real Estate News

Why South Africa’s construction industry is on shaky ground

Posted: 23 Mar 2019 01:00 PM PDT

A South Africa construction group is calling on the government to intervene following a series of recent episodes in which $1.8 billion worth of building projects have been disrupted by armed groups around the country. A letter from the South African Forum of Civil Engineering Contractors, a lobbying group, to the country’s finance minister, Tito Mboweni, details the incidents and their impact on investor confidence and the country’s construction industry, which has seen a flight […]

Residents at “keyless” building are suing… to get their keys back

Posted: 23 Mar 2019 12:00 PM PDT

Residents at a Hell’s Kitchen apartment complex are suing their landlord over an app that controls their movement in and out of their building. The owners of the building at 517-525 West 45th Street installed a new electronic security system called Latch last year, replacing tenants’ keys to the building lobby with a smartphone app, according to the New York Post. The app is currently in use in more than 1,000 residential buildings in the […]

Seniors are dominating NYC rentals

Posted: 23 Mar 2019 11:00 AM PDT

The city that never sleeps has become a popular home for senior tenants. Out of the 30 biggest U.S. cities, New York has the largest share of renter households age 60 and up, the New York Post reported. In fact, there are more rental households over 60 than there are under 34. There were a total of 572,132 renters over the age of 60, or 27 percent of all renters in the city, as of […]

Why a “kink collective” is getting pushed out of Bed-Stuy

Posted: 23 Mar 2019 10:00 AM PDT

A kink collective plans to move out of Bedford-Stuyvesant following weeks of outcry spearheaded by one of the businesses’ neighbors. Charlotte Taillor moved her business into Bed-Stuy from a more expensive location in Crown Heights, and her neighbor Laurie Miller started to notice men coming and going from the house in January, according to the New York Times. Miller soon put up fliers asking to meet with the block association and urging locals to call […]

How a homeowner association dispute racked up $1M in legal fees

Posted: 23 Mar 2019 09:00 AM PDT

A satellite dish. A St. Francis statue in the garden. An incorrectly parked car. It started small, but disputes over a Kansas man’s alleged violations of his homeowner association’s rules has led to a complex legal battle that is now the most expensive of its kind. Owner Jim Hildenbrand, has been locked in conflict with the HOA of Avignon Villa Homes since he moved there in 2012, the Wall Street Journal reports. What began with […]

Miami to see oversupply, high vacancies in CRE and multifamily by 2020: report

Posted: 23 Mar 2019 08:00 AM PDT

Between now and the end of next year, urban neighborhoods from Brickell to Midtown Miami will see the completion of several signature mixed-use projects. Yet, as a result, Miami’s urban core is going to experience an oversupply and high vacancy rates in the retail, multifamily and office markets, according to a recent CoStar report. The report, prepared for the Commercial Industrial Association of South Florida and presented at the trade group’s event earlier this week, […]

Never say Never: Justin Bieber is now a Beverly Hills homeowner

Posted: 23 Mar 2019 07:00 AM PDT

One could say Justin Bieber has grown up from his “Baby” days. The pop star, who turned 25 this month, paid $8.5 million for a home in Beverly Hills, according to Yolanda’s Little Black Book. The purchase comes after Bieber recently married model Hailey Baldwin, and follows years of his shacking up in pricey rentals and developing a reputation as a bad neighbor. Less than two years ago, homeowners in the wealthy 90210 ZIP code […]

Halstead’s Barak Dunayer jumps to Jacky Teplitzky’s team at Elliman

Posted: 23 Mar 2019 06:00 AM PDT

Halstead Real Estate’s Barak Dunayer is taking his team to Douglas Elliman. Dunayer is partnering with the Jacky Teplitzky team at Elliman, the brokerage said in a statement. He’s joining along with his wife, Yael Dunayer, and team member, John Machamer. Last year, the Teplitzky team’s deals included a $26.5 million sale at Vornado Realty Trust’s 220 Central Park South and a $12.9 million duplex at 252 East 57th Street. The team claims to have […]