The Real Deal - New York Real Estate News

New York City’s surprising real estate comeback continues

Posted: 01 Jan 2022 11:52 AM PST

The city is back — and so is the cost of living in it. The New York Times is reporting that rumors of New York City’s demise were greatly exaggerated, and despite a drop in rents and sale prices at the onset of the Covid-19 pandemic, Manhattan’s (and Brooklyn’s and Queens’) real estate markets have made a remarkable turnaround — with the luxury homes leading the way. Even as the Omnicron variant bears down, sales

Report: Superstar Adele buying Sylvester Stallone’s Bev Hills mansion

Posted: 01 Jan 2022 10:01 AM PST

Go for it. Superstar musician Adele is on the verge of buying movie muscleman Sylvestor Stallone’s Beverly Hills mansion, according to published reports. TMZ is saying the “Hello” singer is about to land the “Rocky” star’s compound inside Beverly Park, the exclusive, gated community that has also been home to celebrity royalty including Eddie Murphy, Denzil Washington, Reba McEntire and Rod Stewart. According to the report, Adele got the property, which was originally listed for

Boston to eliminate parking requirements to spur below-market residential development

Posted: 01 Jan 2022 09:00 AM PST

The city of Boston is eliminating minimum parking requirements for some affordable housing developments in a move the mayor there says will make it easier for developers to build below-market housing in the mass-transit-rich, affordable-homes-poor metropolis. “This action will help take down barriers to the creation of new affordable housing across the city,” said Mayor Michelle Wu. “We need every tool in our toolbox to address our city’s housing crisis. Eliminating parking minimums removes an

Austin cop shop eyed for top shops

Posted: 01 Jan 2022 08:15 AM PST

Austin’s downtown property market is so hot that even the police department may cash in. The Texas capital city is mulling whether to decommission the modernist five-story police headquarters, built in 1982, at 715 East Eighth Street, the Austin Monitor reported. Demolition or creative reuse are on the table for the move, which would free up 2.5 acres of prime downtown real estate. A recent Urban Land Institute Austin contest produced two proposals, the outlet

Singapore rents jump to six-year high, hitting expats hard

Posted: 01 Jan 2022 07:30 AM PST

Singapore rents are too damn high. Rents in the city-state have jumped to a six-year high and will probably keep rising thanks to construction delays fueled by a lack of migrant workers, younger people moving out of family homes and homeowners returning from abroad, Bloomberg reported. It’s another reason why Singapore is tied with Paris as the second most expensive city after Tel Aviv. Home prices have already jumped so much that authorities imposed a

St. Barts court quashes proposed $170M hotel

Posted: 01 Jan 2022 06:00 AM PST

A proposed $170 million hotel on the Caribbean island of Saint Barthelemy was stopped in its tracks by local authorities. The St. Barthelemy Administrative Court canceled a building permit for the hotel on the Bay of St. Jean, The New York Post reported. It was being developed by SAS Saint Jean Beach Real Estate, led by Denise Dupré, who is married to billionaire Mark Nunnelly. The building permit was issued in December 2019, according to