The Real Deal - New York Real Estate News

ShipBob joins the unicorn club with $200M Series E funding

Posted: 29 Jun 2021 02:45 PM PDT

ShipBob, a logistics company that provides shipping and delivery services for e-commerce companies, raised another $200 million in funding, taking the company to virtual unicorn status. The Chicago-based firm raised the money in a rare Series E round led by Bain Capital Venture, which has been investing in the 7-year-old business since 2017. Softbank, Menlo Ventures, Hyde Park Venture Partners, Hyde Park Angels and Silicon Valley Bank also participated in the round that pushed ShipBob’s

State attorney’s office plans grand jury investigation into cause of Surfside collapse

Posted: 29 Jun 2021 02:30 PM PDT

State Attorney Katherine Fernandez Rundle will empanel a grand jury investigation to determine the cause of the fatal condo collapse in Surfside, as President Joe Biden plans a visit to the site. Miami-Dade County Mayor Daniella Levine Cava announced on Tuesday that Fernandez Rundle will ask a grand jury to look into the partial Champlain Towers South collapse. Separately, she said that Biden will be meeting with families of victims and first responders during his

Adams’ lead over Garcia narrows with absentee ballots pending

Posted: 29 Jun 2021 01:37 PM PDT

UPDATED June 29, 2021, 6:09 p.m.: Kathryn Garcia is gaining on Eric Adams, and Maya Wiley is out — unless she is somehow rescued by absentee ballots. The latest count of Democratic mayoral primary ballots show Adams is still in the lead, but by just 2 percentage points over Garcia with absentee ballots still pending. Wiley, who was in second place after the initial tally, was eliminated in the 11th round of counting in a

Surfside condo president’s April letter warned of more repairs required

Posted: 29 Jun 2021 10:33 AM PDT

The condo board sent a letter to unit owners of the Champlain Towers South in April cautioning the importance of major repairs, mere months before the oceanfront portion of the Surfside condo tower collapsed, trapping more than 150 people. The letter, signed by condo board president Jean Wodnicki, detailed extensive work the Champlain Towers South required to complete its 40-year recertification. The condo association had hired engineer Frank Morabito to assess the 12-story, 136-unit building

U.S. home prices surge 14.6% in April, shattering records (again)

Posted: 29 Jun 2021 09:45 AM PDT

Home prices accelerated to new highs in April, a “truly extraordinary” surge that outpaced previous months’ record numbers. That was the term used by Craig Lazzara, global head of index investment strategy for S&P Dow Jones Indices, to describe the latest figures from the S&P CoreLogic Case-Shiller index, which shot up 14.6 percent year-over-year in April, beating a then-record 13.2 percent year-over-year gain in March. Those numbers represent a 13.3 percent increase over March and

Douglas Durst says brother Robert wants to kill him

Posted: 29 Jun 2021 09:00 AM PDT

New York real estate scion Douglas Durst finally took the witness stand at his brother Robert Durst’s murder trial. Testifying on the brothers’ troubled relationship, Douglas, the CEO of his family’s real estate firm, told jurors on Monday that he believes his brother wants him dead. “He’d like to murder me,” Douglas Durst said in a Los Angeles courtroom, according to the New York Daily News. “I hired security today,” he went on. “I have

Rental platform Rezi expands into Miami

Posted: 29 Jun 2021 07:55 AM PDT

Online rental platform Rezi is expanding into Miami, three years after a big investment push in New York to lease vacant units from landlords. In addition to Florida, Rezi said it intends to open in three more markets, but did not name them. The company said it will spend $75 million this year to lease vacant apartments. CEO Sean Mitchell said the company had been eyeing Miami, which has seen a surge in residential development, for

SL Green closes on $3B One Vanderbilt refi

Posted: 29 Jun 2021 06:31 AM PDT

A group of banks led by Wells Fargo and Goldman Sachs provided the anticipated $3 billion refinancing for SL Green’s One Vanderbilt, Commercial Observer reported. Bank of America, Bank of China, Bank of Montreal, Deutsche Bank, JPMorgan Chase, Barclays and Citigroup also participated in the 10-year, fixed-rate, commercial mortgage-backed securities (CMBS) financing, according to the publication. SL Green Realty Corp, the National Pension Service of Korea and Hines Interests own the 67-story skyscraper. The refinancing

Blue Man Group’s school sells in FiDi for $20M

Posted: 29 Jun 2021 05:52 AM PDT

Manhattan had another strong week of investment sales in the $10 million to $30 million range recorded last week including properties in FiDi, the West Village, the Upper West Side and Inwood. Commercial condos used by the Blue Man Group’s private school, The Blue School, sold for $20 million in FiDi. Multifamily buildings made up most of the other sales, including a six-building portfolio spanning three Brooklyn neighborhoods and yet another sale by Rosedale Management.

What discount to expect on stale listings, fixer-uppers

Posted: 29 Jun 2021 05:00 AM PDT

In a piping hot real estate market, it’s the stale homes that get buyers the best discounts. Homes that have been on the market for more than a year and need repairs or renovations have a median discount of 18 percent, according to a new report by UrbanDigs. The report examined sales from the first quarter of 2019 nearly through the second quarter of this year. Even homes on the market for at least six

Prices were up on Brooklyn luxury homes that found buyers last week

Posted: 29 Jun 2021 04:00 AM PDT

Asking prices were higher for Brooklyn luxury contracts signed last week than the week prior, according to Compass’ weekly report. The median listing price for those 30 homes rose to $3.3 million from $2.7 million for the 30 properties that went into contract the previous week. The asking prices of those contracts totaled nearly $96 million, on part with the previous week’s $95 million. Of the contracts signed, 14 were for townhouses, 11 were for

Proptech Home365 closes $16M in funding led by Canadian fund Greensoil

Posted: 28 Jun 2021 07:30 PM PDT

Property management firm Home365 closed a $16.3 million funding round led by Canadian magnate Alan Greenberg’s venture capital fund. The Santa Clara, California-based startup secured the funding from Greenberg’s Greensoil PropTech Ventures and from existing investors including Eyal Ofer’s O.G. Tech, Verizon Ventures, Lool Ventures and North First Ventures. Home365 also announced it has acquired SlateHouse Property Management and Realty. Through that deal it will manage 7,000 units, mostly smaller or medium-sized rentals. The fundraise