The Real Deal - New York Real Estate News

Billionaire Jeffrey Epstein arrested, faces new charges of sex trafficking of minors

Posted: 07 Jul 2019 01:03 PM PDT

Billionaire Jeffrey Epstein — who more than a decade ago reached a plea deal for the molestation of minors — was arrested in New York on Saturday and charged with sex trafficking, according to the New York Times. The hedge funder will appear in Manhattan federal court on Monday, reportedly facing one count of sex trafficking involving minors and one count of conspiring to engage in such trafficking, the Times reported, citing CBS Miami. That […]

Milan’s rising rent, office space shortage sparks investing spree

Posted: 07 Jul 2019 01:00 PM PDT

Investor demand for prime office space in Milan has surged amid a shortage of Class A buildings in the financial capital of Italy. Sources told Bloomberg negotiations that could change the ownership of several trophy office buildings in Milan are underway. Among other potential deals, the State Oil Fund of the Republic of Azerbaijan may sell Palazzo Turati for about 112 million euros to Invesco Real Estate. The billionaire Rovati family is in talks to […]

As protests in Hong Kong rage on, a trade war truce with US gives boost to home sales

Posted: 07 Jul 2019 12:00 PM PDT

While major street protests rage on in Hong Kong, the city’s residential sales market got a boost from other geopolitical movements. The city saw its third biggest weekend of sales last week, with local agents attributing the activity to President Donald Trump and Chinese President Xi Jinping’s agreement to resume trade negotiations, according to the South China Morning Post. Developer Wheelock Properties saw about 90 percent of the flats at the 504-unit Grand Montara development […]

Fine print no more: New Florida advertising rules kick in for agent teams

Posted: 07 Jul 2019 11:00 AM PDT

What’s in a name? The Florida Real Estate Commission wants you to know. New advertising regulations enacted this month require agents to adhere to a slew of new rules concerning team names — including one that requires the company logo to be at least as large as their own team. Effective July 1, the FREC rules allow agents to call themselves a “team” or “group,” but prohibit the words “agency,” “associates” or any other word […]

Turkey’s gearing up to tax the wealthy and their luxury homes

Posted: 07 Jul 2019 10:00 AM PDT

High-earners and those looking to purchase luxury homes in Turkey have gotten a brief respite before new taxes are slated to go into effect. The country’s Treasury and Finance ministry prepared the tax measures and other proposals to contain the government’s growing budget deficit, which leapt 225 percent in the January-May period. But the proposed tax hikes in Turkey for high-income individuals and a new tax on luxury homes would not take effect until October, […]

Who owns all of New York?

Posted: 07 Jul 2019 08:00 AM PDT

When Silverstein Properties was bidding on the Helmsley Carlton House eight years ago, company executive Marty Burger thought his firm had a pitch that would win the property. “[We had] a very well-known hotel brand that agreed to let us use their name to sell condos,” Burger, who is now Silverstein’s CEO, recalled last month. “We thought that was our edge.” But as it turned out, that edge was not sharp enough. Instead of selling […]

Gil Dezer takes us inside his Trump shrine

Posted: 07 Jul 2019 07:00 AM PDT

Ride the elevator along with swimsuit-clad hotel guests to the 31st floor of Trump International Beach Resort and you’ll find the headquarters of Dezer Development. Hidden within the full-floor suite at 18001 Collins Avenue in Sunny Isles Beach is a winding staircase that leads to the adjoining lairs of Gil Dezer, 44, and his father Michael Dezer, 78. With a large patio from which he can watch his towers rise, Gil’s office is partly a […]

Cooking with private equity cash, Gordon Ramsay plans to open 100 new restaurants

Posted: 07 Jul 2019 06:00 AM PDT

Gordon Ramsay, the shouty British chef who famously called someone “an idiot sandwich” on television, is partnering with a private equity firm to open 100 new restaurants across the U.S. within the next five years. Ramsay, who already has five eponymous restaurants in Las Vegas and three others across the country, told Forbes he started seeking a partner a year ago to invest equity in his restaurant business. That led to a deal with Lion […]