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Month: January 2020

Magellan Group plans to build self-storage facility in LA Opportunity Zone

The project site (Credit: Google Maps) The Magellan Group intends to demolish a 21,000-square-foot South Los Angeles light manufacturing complex it acquired last month and replace it with a sprawling “state of the art” self-storage ...

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  • 16 Jan
  • The Real Deal
  • Uncategorized
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More VIPs join TRD’s exclusive prop-tech retreat

From left: Zahi Hagag, Doug Eisenberg, David Kramer, and David Schwartz As the new decade gears up, most VIPs are rolling in for TRD’s Future City 2020. We’re excited to announce new attendees including tech CEOs, mega landlords, ...

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  • 16 Jan
  • The Real Deal
  • Uncategorized
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Trump’s Opportunity Zone program is under investigation

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock) The Treasury Department is investigating a federal tax break that was designed to help low-income communities, but has proved ...

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  • 16 Jan
  • The Real Deal
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Foreclosures nationwide fell to 15-year low in 2019

Nationwide, foreclosures are at a 15-year low (Credit: iStock) Vulture funds and homebuyers seeking distressed properties at bargain-basement prices may have to keep waiting. Last year saw the fewest foreclosure filings since at least ...

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  • 16 Jan
  • The Real Deal
  • Uncategorized
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Related drops 700-foot-long “wall” from Hudson Yards plan

Related Chairman Stephen Ross (Credit: Getty Images, Wikipedia) The writing was on the wall. The Related Companies said Wednesday it would not build what critics had derisively deemed a wall next to the High Line at its Hudson Yards ...

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  • 15 Jan
  • The Real Deal
  • Uncategorized
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Ex-Fannie Mae employee sentenced in bribery, kickback scheme

A former Fannie Mae employee in Orange County was sentenced for fraud involving bribes and kickbacks. For years, Fannie Mae employee Shirene Hernandez would assign real estate brokers choice listings on foreclosed homes, and in return, ...

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  • 15 Jan
  • The Real Deal
  • Uncategorized
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Property suit, Beverly Hills billionaire edition: Get that hot tub off my lawn!

Neil Kadisha Billionaire Neil Kadisha has a big problem with the new pool, hot tub and deck that his Beverly Hills neighbor just built. In a $2 million lawsuit he filed, the venture capitalist alleges the offending amenities, along ...

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  • 15 Jan
  • The Real Deal
  • Uncategorized
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Harbor Group’s 13K-unit apartment purchase is one of largest ever

Harbor Group International’s CEO Jordan Slone and Phoenix, Arizona (Credit: iStock) Two years ago, Harbor Group International acquired a 9,600-unit apartment portfolio, paying $1.8 billion for properties across the East Coast and in ...

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  • 15 Jan
  • The Real Deal
  • Uncategorized
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Tons of apartments will hit the US market this year. They’re for the rich

Clockwise from left: Los Angeles, Miami, New York, and Chicago (Credit: iStock) The U.S. apartment market should see more new units in 2020 than in any year since the 1980s, but these pads aren’t for the great unwashed. The country ...

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  • 15 Jan
  • The Real Deal
  • Uncategorized
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Coming soon: The Real Deal’s 2020 Data Book

The Real Deal is preparing the 15th edition of its Data Book, the most comprehensive collection of information on the New York–area real estate market. Included in the 2020 Data Book will be a ranking of Manhattan’s top residential ...

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  • 15 Jan
  • The Real Deal
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