The Real Deal - New York Real Estate News

Bidding war for Diplo’s Hollywood Hills home

Posted: 28 Mar 2021 11:00 AM PDT

Diplo’s Hollywood Hills home wasn’t even on the market a week before the producer and deejay accepted an offer above his asking price. Diplo — whose real name is Thomas Pentz — sold the 2,500-square-foot home for a bit over $2.8 million, a full $110,000 above his asking price, according to the Los Angeles Times. He sold the nicely situated house at a profit just five days after putting it on the market. Pentz paid

Development duo will pour $400M into Toronto multifamily rentals

Posted: 28 Mar 2021 09:00 AM PDT

A joint venture led by Canada’s largest pension fund is launching a $400 million joint venture to develop multifamily rentals around Toronto. Canada Pension Plan Investment Board is contributing 70 percent of the capital while its partner, Developer Tricon Residential, is covering the remaining 30 percent. The JV plans to develop properties “close to major transit and employment nodes” and has a long-term hold strategy, according to news announcing the venture. Tricon will develop and

Intel to invest $20B in Arizona chip manufacturing campus

Posted: 28 Mar 2021 06:00 AM PDT

Computer chip giant Intel is making a big real estate investment in the area outside of Phoenix. The company plans to expand its campus in Chandler, Arizona, by building two computer chip manufacturing facilities, AZ Central reported. The $20 billion move is being called the largest private sector investment in the state’s history. Intel currently operates four chip factories at its 700-acre Ocotillo campus, and employs 12,000 people there. Intel CEO Pat Gelsinger said the

Government-linked housing scandal builds in South Korea

Posted: 27 Mar 2021 11:00 AM PDT

A government-linked real estate scandal has erupted in South Korea weeks before a pair of key mayoral races seen as referendums on the country’s leader. President Moon Jae-in took office in 2017 with promises to crack down on government corruption and curb rising real estate prices. The latest scandal strengthens perceptions held by many South Koreans that government officials use their positions to unfairly enrich themselves, according to New York Times. The scandal centers on

Digital “land” in video games attracts NFT investors

Posted: 27 Mar 2021 06:00 AM PDT

The NFT craze is extending into digital “real estate,” which is now attracting millions of dollars from investors. In January, NFT investor Polyient Games paid $800,000 for one of five “kingdoms” in the unreleased role-playing game “Mirandus,” the Wall Street Journal reported. A month later, a mystery group of buyers paid $1.6 million for another kingdom in the game. Mirandus has just 1,625 “deeds,” and investors are betting that demand will rise, which could help