Month: September 2020

For some Miami developers, the last few months have provided an opportunity to “double down.” “Our affordable division is extremely active,” Jon Paul Pérez, executive vice president of Related Group, said during The Real Deal’s latest episode of Coffee Talks. Pérez noted that Related has broken ground on three projects in the last 45 days.…

California Gov. Gavin Newsom (Credit: Justin Sullivan/Getty Images) Gov. Gavin Newsom signed into law a package of real estate-related measures Tuesday aimed at boosting housing development and protecting tenants. Of the 15 bills, here are five of the most notable: *Assembly Bill 725 attempts to increase moderate-income, medium-density housing development. After Jan. 1, 2022, all…

Retail bankruptcies are on pace to surpass those filed in 2010, while store closings have already passed those from 2019, according to a report (Getty) It’s been a difficult year for retailers, and things may get worse before they get better: The number of bankruptcy filings by retailers this year could outpace those filed in…

Spencer Rascoff (Getty; iStock) The co-founder of Zillow and Hotwire is the latest high-profile real estate figure to join the blank-check craze. Spencer Rascoff is co-chairing a special-purpose acquisition company (SPAC), also known as a blank-check company, that will be seeking to invest in a tech unicorn and take it public, according to Inman. Rascoff…

Donald Trump and the Trump National Doral golf course (Getty, Trump Hotels) President Trump’s golf club and resort properties have long been in the financial rough. Since 2000, Trump has reported combined losses of more than $315 million at his golf courses in the U.S. and in Europe, with nearly half from his largest golf…

Joe Biden and Donald Trump Biden’s $775B ‘caring economy’ plan would kill 1031 exchanges Joe Biden went after one of the real estate industry’s favorite tax benefits last month. The presumptive Democratic presidential nominee proposed his “caring economy” plan to  fund a child- and elderly-care spending platform, in part by closing a loophole used by…

Donald Trump with 1290 Sixth Avenue in Manhattan and 555 California Street in San Francisco (Getty, Google Maps) 1290 Sixth Avenue in Manhattan (Google Maps) Donald Trump pulled out nearly $100 million in 2013 from the office properties he owns with Vornado Realty Trust, which are among the few investments generating money for him. Trump…

The pandemic is leading to huge losses in value for hotels, malls and other commercial properties (iStock) Commercial properties such as hotels and malls may have lost as much as a quarter of their value as the pandemic devastated the retail and hospitality businesses, along with other sectors. The value of the collateral for commercial…

Pierce Brosnan (Credit: Andreas Rentz/Getty Images) Pierce Brosnan is hoping to pull off a feat more stunning than anything he did playing James Bond: Sell a 12,500-square-foot home for $100 million, or $8,000 per square foot. The home at 3116 Broad Beach Road in Malibu hit the market at $100 million. Compass’ Malibu specialist, Chris…

944-952 S. Dewey Avenue (Credit: Google Maps) A developer out of Anaheim is planning to replace a pair of multifamily buildings in Koreatown with a 51-unit Transit-Oriented Communities complex. RKC Development, using a limited liability company called RKC Dewey, filed plans for the project with the Los Angeles Department of City Planning last week. The…