The Real Deal - New York Real Estate News

For the latest evidence of a surging suburban sales market, look just outside Washington, D.C. There, a serious fixer-upper sold for 70 percent above its appraisal after receiving 88 offers — 76 all-cash, according to the New York Post. A buyer closed on the four-bedroom home in Silver Spring, Maryland, for $460,000, well above the $275,000 court-mandated appraisal that followed the owner’s death, according to the report. With home prices peaking in the area, the

WeWork, which recently struck a $9 billion deal to go public via a special-purpose acquisition company, is still working on its path to profitability. Part of that strategy involves shedding space around the globe. In its latest move, the co-working company exited its 90,000-square-foot office in Hong Kong, according to the South China Morning Post. That amounts to a 20 percent reduction in the territory, leaving WeWork with 360,000 square feet of office space. The

Prince Bandar bin Sultan, a Saudi royal and longtime senior government official, sold a sprawling estate northwest of London to Bahrain’s royal family. Records show that Glympton Park traded hands in February for more than $165 million, according to Bloomberg Wealth. The buyers were Bahrain’s King Hamad bin Isa al-Khalifa and his son, Crown Prince Salman Bin Hamad Bin Isa Al Khalifa. Glympton Park spans 2,000 acres and centers on an 18th-century mansion. It includes

Knotel co-founder Amol Sarva took some shots at its new owner, Newmark, on his way out the door of the flex office company he ran into the ground. In a blistering email Friday evening, Sarva accused the brokerage of using the bankruptcy process to take over the once high-flying Knotel and damaging the company’s relationships. In months leading up to its bankruptcy filing in February, Knotel angered many of its landlords by refusing to pay