Jeff Sutton sells 717 Fifth Ave to Gucci for $963M
Deal with French luxury group Kering follows $835M Prada sale
Top stories
- Blackstone buys major landlord Tricon for $3.5B
- Brookfield forecloses on 2,150-unit Veritas portfolio with uncontested $464M bid
- Grant Cardone sues John Legere for calling him ‘biggest bulls**t artist on the planet’ and other insults
- Adam Neumann’s Flow faces cash crunch at Nashville properties
- Long Beach investor ordered to pay $4M after defrauding bedridden woman
- Single-family landlords capitalize on pricey housing market, raise rents 6%
- Brookfield, Blackstone REITs post record losses in 2023
- “Office is a dirty word right now”: Buildings outside Brickell, downtown West Palm in trouble, economist says
- Fanjul family’s Florida Crystals buys 1,600 acres in Palm Beach County
- Bal Harbour Shops planned expansion sparks major uproar
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Commercial
Houston
“He’s evil”: Texas REIT founder fires back at CEO
Allen Hartman accuses Silver Star Properties executive committee of sabotage and violating business charter
New York
50% off! Joe Sitt’s 597 Fifth Ave value slashed
Scribner Building, 3 East 48th Street now worth less than their debt
Politics
New York
City settles lawsuit, will change housing lotteries
Fewer affordable units to be exclusively for local residents
Development
New York
Corcoran Sunshine to close Seventh Avenue office
New dev brokerage to relocate to Corcoran Group’s HQ at 590 Madison
Development
Texas
Henry Cisneros wants to build for Texas’ explosive growth
Former mayor, HUD secretary talks housing, infrastructure and transit in the Texas Triangle
Development
National
Billionaires consortium unveils $400M housing fund for proposed city
Controversial Solano County project backed by Marc Andreessen, Laurene Powell Jobs aims to lure residents with down-payment assistance ahead of referendum
Commercial
National
Sam Nazarian makes his hotel comeback, focusing on millennials and Gen Z
New brand partners with Wyndham & Marc Anthony, offering affordable travel
Commercial
Los Angeles
One of LA’s biggest landlords hands back keys to Madison, Lightstone after $1.1B in defaults
Neil Shekter’s WS Communities portfolio rocked by high interest rates
Jan 22, 2024
Jeff Sutton sells 717 Fifth Ave to Gucci for $963M
Deal with French luxury group Kering follows $835M Prada sale
Jan 22, 2024
City settles lawsuit, will change housing lotteries
Fewer affordable units to be exclusively for local residents
Jan 22, 2024
Central Park Tower’s $115M deal tops Manhattan luxury contracts
Extell Development claims price record
Jan 22, 2024
OC star agent Steve High takes team to Pacific Sotheby’s
After dissolution of Villa Real Estate and move to Coldwell Banker, he seeks boutique format
Jan 22, 2024
Retail rents jump in most Manhattan shopping corridors: REBNY
Global luxury is leading the way, with tourism and foot traffic on rise
Jan 22, 2024
NYC’s top residential brokerage stories of 2023
Shaky brokerage financials and litigation rocked industry players
Jan 22, 2024
Avi Dishi, Elysee and Pan Am buy Yair Levy’s downtown Miami building
JV paid $28M for the unfinished Time Century Jewelry Center
Jan 22, 2024
Kolter pays $74M for 491 homesites at Avenir in Palm Beach Gardens
Deal equates to $150K per lot
Jan 22, 2024
KDM launches $350M commercial real estate fund
Coral Gables-based firm aims to provide bridge loans for multifamily projects and buy distressed properties
Jan 22, 2024
Resi sales dip, prices rise across South Florida in December
Dollar volume rose to $3.6B, up from $3.4B in December 2022
Jan 22, 2024
Lease roundup: Shoma, Related, Turnberry nab tenants
Also, three law firms took space in Coral Gables, Call me Gaby opening in Aventura, Mister 01 Extraordinary Pizza in Miramar and Pasta in Wynwood
Jan 22, 2024
Office rents up in Miami-Dade, down in Broward and Palm Beach in fourth quarter
Investment sales light with one exception: $250M purchase of 801 Brickell, which marked last year’s biggest deal
Jan 22, 2024
Fullerton settles with state to produce compliant housing element
Agreement gives OC city until Nov. 5 to adopt plan for home construction
Jan 22, 2024
LA law creates new hurdles for hotel developers
Compromise requires builders to replace homes demolished by development
Jan 22, 2024
Court sustains state lawsuit against Huntington Beach over housing
Decision allows for rapid hearing on California’s efforts to make city plan for 13K homes
Jan 19, 2024
Beverly Hills’ building moratorium could “tap the brakes” for developers
Court order has yet to take effect but it might disrupt deals, agents and consultants say
Jan 22, 2024
Princess Cruises to sublease 300K sf headquarters in Santa Clarita
Ship line sets a rate of $1.99 psf for four-building campus near Valencia Town Center
Jan 22, 2024
OC star agent Steve High takes team to Pacific Sotheby’s
After dissolution of Villa Real Estate and move to Coldwell Banker, he seeks boutique format
Jan 22, 2024
SF YIMBY Gears Up for Political Battle
Pro-development organization’s Jane Natoli sees voters “embracing pragmatism”
Jan 22, 2024
Rent-free pop-ups prove persistent in San Francisco
Artists, nonprofits and small businesses in eight temporary storefronts extend their leases
Jan 22, 2024
California Forever details plan for utopian city in Solano County
Firm backed by Silicon Valley billionaires appeals to voters with ballot initiative
Jan 22, 2024
Macy’s to close 212K sf store in San Leandro mall
Closure comes after B3 and GAW Capital bought the Bayfair Center for $57M
Jan 22, 2024
Acclaim calls on builder’s remedy for 198 apartments in Palo Alto
Seven-story project would help city reach state-mandated goal of 6,086 new homes
Jan 20, 2024
Tenants strike against Veritas in San Francisco, withholding rent
Jan 22, 2024
CIM, Golub face tight deadline for $123M office debt
Blackstone provided loan for Chicago building in 2018, extended maturity to March after borrowers missed this month’s repayment
Jan 21, 2024
Inland founder Daniel Goodwin dies at 80
Chicago native was a teacher before embarking on real estate career
Jan 21, 2024
Wylie, Avgeris pounce on vacant suburban office complex for $30M
Jason M. Simon’s firm adds Vernon Hills’ former American Hotel Registry site to list of turnaround projects
Jan 22, 2024
Tango Analytics founder Jack Thompson lists Trump Tower condo for $6M
Music memorabilia could convey with fully furnished unit
Jan 22, 2024
Winnetka Park District approves $3M donation from Justin Ishbia
Will be used to renovate Elder and Centennial beaches
Jan 21, 2024
Mesirow downsizes Chicago HQ in lease extension
Financial services firm trims one-third of Clark Street office space but commits to Windy City through 2036.
Houston
Jan 22, 2024
“He’s evil”: Texas REIT founder fires back at CEO
Allen Hartman accuses Silver Star Properties executive committee of sabotage and violating business charter
Jan 19, 2024
Henry Cisneros wants to build for Texas’ explosive growth
Former mayor, HUD secretary talks housing, infrastructure and transit in the Texas Triangle
San Antonio
Jan 19, 2024
McCombs family buys downtown San Antonio hotel ground lease
Redevelopment potential at former hotel being used as homeless shelter
Dallas
Jan 19, 2024
Greystar faces foreclosure on apartments near Dallas crane collapse
$127M mortgage issued in 2022 by New York lender
Houston
Jan 22, 2024
Houston rancher takes land-rights case to US Supreme Court
Claims state’s Interstate 10 renovation led to flooding, loss of land
Dallas
Jan 22, 2024
Rockwall H-E-B to open in September 2025
San Antonio-based grocer also coming to Alliance, Dallas, Frisco and Mansfield
Jan 17, 2024
Elie Schwartz pays $3M. Only $50M to go
Nightingale starts paying CrowdStreet settlement at end of 10-day grace period
Jan 17, 2024
Brookfield, Blackstone REITs post record losses in 2023
Rising interest rates and slow market brought biggest losses yet
Jan 17, 2024
New scandal, same problems: NAR’s latest shakeup
Internal leadership pipeline, constant churn stifle meaningful change
Jan 17, 2024
Mortgage applications surge as rates drop
Requests for loans to buy homes increased 9% from previous week: MBA
Atlanta
Jan 22, 2024
Atlanta investment firm has $200M to spend on distressed assets
ANiMAL launched a year ago and has acquired properties in West Midtown
Jan 22, 2024
Listen: Real estate investors ready to make plays ahead of possible interest rate cuts
Madison International’s Ron Dickerman joins TRD’s Deconstruct to discuss the best and worst bets in 2024
Houston
Jan 22, 2024
Houston rancher takes land-rights case to US Supreme Court
Claims state’s Interstate 10 renovation led to flooding, loss of land
Dallas
Jan 22, 2024
Raising Cane’s founder Todd Graves buys condo in MSD development
Penthouse once listed for $25M; Knox Hotel and Residences under construction
South Florida
Jan 22, 2024
Resi sales dip, prices rise across South Florida in December
Dollar volume rose to $3.6B, up from $3.4B in December 2022
San Francisco
Jan 22, 2024
Acclaim calls on builder’s remedy for 198 apartments in Palo Alto
Seven-story project would help city reach state-mandated goal of 6,086 new homes
Chicago
Jan 22, 2024
Tango Analytics founder Jack Thompson lists Trump Tower condo for $6M
Music memorabilia could convey with fully furnished unit
New York
Jan 22, 2024
Central Park Tower’s $115M deal tops Manhattan luxury contracts
Extell Development claims price record
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The Real Deal’s Isabella Farr and Suzannah Cavanaugh break down the newest, biggest trends and concepts in real estate.
Atlanta
Jan 22, 2024
Atlanta investment firm has $200M to spend on distressed assets
ANiMAL launched a year ago and has acquired properties in West Midtown
Los Angeles
Jan 22, 2024
Princess Cruises to sublease 300K sf headquarters in Santa Clarita
Ship line sets a rate of $1.99 psf for four-building campus near Valencia Town Center
Dallas
Jan 22, 2024
Rockwall H-E-B to open in September 2025
San Antonio-based grocer also coming to Alliance, Dallas, Frisco and Mansfield
San Francisco
Jan 22, 2024
Macy’s to close 212K sf store in San Leandro mall
Closure comes after B3 and GAW Capital bought the Bayfair Center for $57M
Chicago
Jan 22, 2024
CIM, Golub face tight deadline for $123M office debt
Blackstone provided loan for Chicago building in 2018, extended maturity to March after borrowers missed this month’s repayment
New York
Jan 22, 2024
Retail rents jump in most Manhattan shopping corridors: REBNY
Global luxury is leading the way, with tourism and foot traffic on rise
South Florida
Jan 22, 2024
Kolter pays $74M for 491 homesites at Avenir in Palm Beach Gardens
Deal equates to $150K per lot
San Francisco
Jan 22, 2024
California Forever details plan for utopian city in Solano County
Firm backed by Silicon Valley billionaires appeals to voters with ballot initiative
Chicago
Jan 21, 2024
Wylie, Avgeris pounce on vacant suburban office complex for $30M
Jason M. Simon’s firm adds Vernon Hills’ former American Hotel Registry site to list of turnaround projects
Tampa
Jan 21, 2024
Greater Tampa area a hot spot for development
LD&D, Universe, London Bay flex their Southwest Florida muscles
Chicago
Jan 19, 2024
Shorewood wins tax break for $100M suburban Chicago development
Tesla-anchored mixed-use development scored $11M in TIF funding
Dallas
Jan 19, 2024
Intrepid Equity starts 1M sf spec warehouse project in Forney
DFW suburb is home to logistics sites for Amazon, Goodyear and Walmart