The Real Deal - New York Real Estate News

China looks to reel in heavily indebted real estate sector

Posted: 15 Aug 2021 11:00 AM PDT

China is cutting off another source of money from residential real estate developers: private equity funds. The government-endorsed Asset Management Association of China informed pe firms it would no longer accept registrations to set up such funds for real estate investment, according to Bloomberg. It’s the latest step in the government’s effort to address ballooning debt in the residential development sector and stave off a housing bubble. Earlier this year, the People’s Bank of China

Let the games begin: Demand rises for condos at Tokyo Olympic Village

Posted: 15 Aug 2021 09:00 AM PDT

The Tokyo 2020 Olympic Games may have concluded but competition is getting fierce among potential homebuyers looking for the more than 5,500 condo units at the former Olympic Village. Sales at the renamed Harumi Flag complex relaunched in June after pandemic-related delays last year, according to Bloomberg. Viewings are scheduled to start later this month. Move-ins were pushed back more than a year to March 2024, prompting some condo buyers to request compensation. Around 5,000

Meet the old boss: Pete Townshend sells historic London mansion

Posted: 15 Aug 2021 06:00 AM PDT

It took only two weeks for The Who guitarist Pete Townshend to find a buyer for his historic, 245-year-old London mansion. The famed rocker sold the 8,500-square-foot The Wick for the equivalent of $20.7 million, according to Mansion Global. He listed it late last month. The property was built in 1775 and was restored and upgraded during Townshend’s ownership. He bought the four-story home in 1996 but he wasn’t the first guitar hero to own