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Month: June 2020

Climate change is messing with 30-year mortgages

Climate change is having an impact on the way borrowers and lenders negotiate mortgages. The traditional 30-year loan could diminish in popularity. (Getty) Climate change is affecting the viability of the classic 30-year mortgage, a ...

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  • 19 Jun
  • The Real Deal
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One down, six to go: Elon Musk sells Bel Air mansion for $29M

Elon Musk and the home (Credit: Pascal Le Segretain/Getty Images and Sotheby’s via Money.com) Elon Musk may yet colonize Mars, and in the meantime he has vowed to shed all his earthly real estate holdings. So far so good. The Tesla and ...

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  • 19 Jun
  • The Real Deal
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Kennedy family’s former “Winter White House” sells for $70M

John F. Kennedy and 1095 North Ocean Boulevard (Credit: Bachrach/Getty Images and Google Maps) The Kennedy family’s former Palm Beach compound, where President John F. Kennedy worked on his 1961 inaugural address, sold for $70 million. ...

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  • 19 Jun
  • The Real Deal
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Amazon expands LA footprint with big warehouse lease

Jeff Bezos and the IAC Commerce Center (Credit: Phillip Faraone/Getty Images and IAC Commerce Center) Amazon has inked a lease for 155,000 square feet of warehouse space in the Santa Clarita Valley, as the e-commerce giant continues to ...

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  • 19 Jun
  • The Real Deal
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The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished

HFZ’s Ziel Feldman and Virgin Group’s Richard Branson, with renderings for what would have been Virgin Hotels’ transformed property at the Shore Club. (Credit: Getty Images) Virgin Hotels had been looking for the right redevelopment ...

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  • 19 Jun
  • The Real Deal
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By the numbers: Viral and volatile times

(Getting Images, Istock) Businesses and individuals are taking stock of their losses stemming from the coronavirus pandemic, as reopenings begin in major cities across the country. The full impact has yet to be seen, as office ...

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  • 19 Jun
  • The Real Deal
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“Act of God” legal strategy to skip rent worked for this eatery

Giglio’s State Street Tavern and restaurateur Bobby Hitz (Google Maps, Giglio’s) A Chicago restaurant got a big break on its rent by using a legal strategy other retailers may hope to copy. A federal bankruptcy judge reduced Giglio’s ...

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  • 19 Jun
  • The Real Deal
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LA home sales were dropping even before the pandemic struck

Los Angeles County homes (Credit: iStock) Los Angeles County home sales declined before the coronavirus pandemic and may be headed for another drop. Those were the findings of a study released Thursday by real estate brokerage Douglas ...

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  • 18 Jun
  • The Real Deal
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Taubman claims Simon scuttled $3.6B merger due to buyer’s remorse

Robert Taubman and David Simon (Getty) Simon Property Group called off its $3.6 billion merger with Taubman Centers due to a classic case of buyer’s remorse, the spurned seller claims. Taubman submitted a new legal filing in the mall ...

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  • 18 Jun
  • The Real Deal
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Unemployment filings stabilize — but at record highs

The rate of job loss in America has stabilized, even though businesses continue to hemorrhage employees at unprecedented levels. (iStock) Another 1.5 million Americans filed for unemployment benefits last week, about one-third fewer ...

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  • 18 Jun
  • The Real Deal
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