Month: July 2020

Bon Jovi and 1075 North Ocean Boulevard (Getty, Realtor) Rock star Jon Bon Jovi closed on an oceanfront mansion in Palm Beach for $43 million, after selling his home down the street for less than half of that. The “Livin’ On A Prayer” artist acquired the seven-bedroom, 10,232-square-foot mansion at 1075 North Ocean Boulevard on…

60 Riverside Boulevard and (inset) the island of Nauru (Google Maps) An Upper West Side condo is entangled in an international money laundering investigation. Following an Australian court, a U.S. District Court is blocking any future sale of the 2,207-square-foot unit at The Aldyn at 60 Riverside Boulevard, because the property’s owners are the target…

An illustration of Fortress Investment Group CEO Wesley Edens (Credit: Craig Barritt/Getty Images, and Zillow) Fortress Investment Group hopes to extricate itself from the William Randolph Hearst estate by auctioning off the property. The SoftBank-owned, New York City-based finance giant is the chief creditor in the bankruptcy proceeding of the estate’s owner, TBH19 LLC, an…

From left: The Fontainebleau Miami Beach, Shore Club and Clevelander South Beach Jeffrey Soffer’s iconic Fontainebleau Miami Beach was among the first of the city’s hotels to reopen on June 1, after the majority were shut down for the entire month of May. The sponsors of the 1,500-room oceanfront resort — whose hallways have been…

6725 West Sunset Boulevard in Hollywood and Vanbarton Group’s Richard Coles (Credit: Google Maps) Months into the coronavirus outbreak, some office buildings whose owners have fallen behind on loan payments are joining hotels and malls among the ranks of buildings transferred to special servicing. Vanbarton Group’s 74,000-square-foot office complex at 6725 West Sunset Boulevard in…

The coronavirus has been crushing global real estate investment for months, but there are a couple of sectors weathering the storm (iStock) Global real estate investment was slammed over the first six months of the year, falling by a third compared to the same period last year. But amid the coronavirus-fueled hurricane a couple of…

Stuart Elliott An agent at a real estate brokerage in Brooklyn said he routinely witnesses unequal treatment from landlords when he submits applications from Black renters. To deal with it, he said agents at his firm lighten photos of Black applicants to give those clients a better chance. Welcome to the state of race relations…

China’s housing market is into bubble territory China’s efforts to beat back coronavirus led to widespread travel restrictions and shutdowns. But it appears to have been just a hiccup for the property boom in its biggest cities. Home prices continue to rise higher and units are flying off the shelves again. More money was invested…

A rendering of Watershed (Rendering by Kilograph) For some builders, minimizing environmental impact isn’t enough. Some developers are pushing the envelope further, designing buildings that can actually help the environment, according to the New York Times. Nonprofit organizations, educational institutions, and mission-driven developers pioneered the concept of “deep green” buildings and its spread to some…

One Cardinal Way Over the last several years, sports teams across the country have spent big money developing real estate around their stadiums with the goal to attract visitors — and their money — for more than just games. While the coronavirus pandemic has halted large spectator sports events across the world, sports franchise owners…