The Real Deal - New York Real Estate News

AmEx to employees: Don’t leave home…until Labor Day

Posted: 30 Jan 2021 11:00 AM PST

It’ll be another winter, spring and summer at the home office for American Express employees in the U.S. The financial services giant — whose longtime slogan was, “Don’t leave home without it” — told workers they can continue operating from home through Labor Day, according to Bloomberg. CEO Stephen Squeri said the New York-based company would also help the city distribute Covid-19 vaccines to employees, although the company’s assistance has not yet been requested, the

Beijing may have slowed housing bubble — for now

Posted: 30 Jan 2021 09:00 AM PST

The Chinese government’s recent efforts to temper unsustainable growth in the country’s housing market seem to be working, at least for now. The price of new homes in the country’s largest cities was up 3.7 percent year-over-year in December, the slowest rate of growth since 2016, according to the Financial Times. China’s domestic housing sector was entering bubble territory as of last summer. Buyers were more heavily leveraged than ever, homes were flying off the

Shaquille O’Neal sells Orlando megamansion for $16.5M

Posted: 30 Jan 2021 06:00 AM PST

Basketball legend Shaquille O’Neal has finally parted ways with his Shaq-sized estate in Orlando, Florida. The NBA Hall-of-Famer let go of the 35,000-square-foot mansion for $16.5 million, according to the New York Post. He paid just $4 million for the property in 1993, his rookie year with the Orlando Magic. The home has been on the market since September, when it was listed for nearly $20 million, but that wasn’t his first time trying to

Thor Equities unloads UK logistics portfolio for $415M

Posted: 30 Jan 2021 04:00 AM PST

Joseph Sitt’s Thor Equities sold its logistics portfolio in the United Kingdom for £303 million, or about $415 million. The sale price appears to be about $85 million more than what Thor paid less than two years ago. The portfolio consists of seven warehouses in the Daventry International Rail Freight Terminal (DIRFT), Daventry; Grove Park, Leicester; The Duke, Burton-on-Trent; Magna Park, Lutterworth; Warth Park, Raunds; Rye Park, Hoddesdon; and Hams Hall, Coleshill. Thor, in partnership