Month: October 2020

Sheldon Adelson and the Venetian (Getty, The Venetian Resort® Las Vegas) Sheldon Adelson’s Las Vegas Sands Corp. is reportedly soliciting interest for all of its three Las Vegas casinos. The three properties — the Venetian Resort Las Vegas, the Palazzo, and the Sands Expo Convention Center — could sell for as much as $6 billion,…

Ray Kroc and his Santa Ynez Valley ranch (Wikimedia, Google Maps) A sprawling California estate once owned by a fast-food titan is hitting the market — and it’s asking quite a bit more than dollar-menu prices. The 554-acre ranch once owned by former McDonald’s CEO Ray Kroc, located in the Santa Ynez Valley in Santa…

(Instagram/lilajdre; iStock) An Arizona real estate agent lost his job after hurling racial epithets at two Black men outside his Scottsdale condominium building. Paul Ng approached the men, who were filming a video outside the building, and asked them what they were filming. When one of the men, Dre Abram, asked him why it was…

Knotel CEO Amol Sarva (iStock) Flex office provider Knotel is tightening its belt even more as Manhattan workers balk at the idea of returning to the workplaces. On a conference call Thursday afternoon, the company announced it has laid off about 20 people, bringing its total headcount to 250, Business Insider reported. Amol Sarva, Knotel’s…

After a lost summer, Coney Island businesses are struggling to imagine how to survive the winter. (Getty) Coney Island was eerily quiet this summer. The Cyclone did not clickety-clack, no screams pierced the salty air and tourists who normally roam the boardwalk were nowhere to be found. The seasonal destination missed its season. Now businesses,…

(iStock) Real estate services stocks largely ended a dismal week unscathed, as the broader markets fell for a second straight week amid mixed earnings reports, stalled stimulus talk and another Covid surge. Office and mall REITs didn’t fare so well. The S&P 500 fell 5.59 percent to end the week, with the tech and real…

(Istock) UPDATED, Oct. 21, 2020, 5:00 p.m.: Tenant protections at apartment buildings with federally backed mortgages didn’t stop landlords in Houston from trying to evict renters between March and July, when an agency-imposed ban was in place. In a July earnings call, Freddie Mac touted its eviction moratorium at properties with loans backed by the…

CBRE CEO Bob Sulentic; the firm has shifted its global HQ from LA to Dallas. (CBRE, Getty) CBRE’s decision to shift its global HQ from Los Angeles to Dallas wasn’t mentioned on the company’s third-quarter earnings call Thursday. But the move, which the Dallas Morning News first reported earlier that morning, didn’t go unnoticed. “It’s…

Redfin CEO Glenn Kelman (Photos via Redfin; Getty) The National Fair Housing Alliance has accused Redfin of discriminatory policies and redlining, months after the national brokerage’s CEO pledged to address systemic racial discrimination. In a lawsuit filed Wednesday in the United States District Court in Seattle, the alliance argued that Redfin’s minimum home price policy…

20460 North Sherman Way (Google Maps) Manasseh Building Group is planning a 59-unit apartment complex in Winnetka. The firm filed plans for the project at 20460 North Sherman Way, according to city planning records. The building will have five units set aside as affordable. The developer has requested incentives through the city’s Transit Oriented Communities…