Month: October 2020

Phil Collins, Orianne Collins, and 5800 North Bay Road (Credit: Tim Chapman/Getty Images, and John Parra/Getty Images) Phil Collins may be singing the lyrics to his best-known hit these days, as he tries to evict his ex-wife and her new husband from a Miami Beach mansion. “You can wipe off that grin / I know…

Data on third quarter CRE investments suggests a nationwide improvement, but Manhattan has been slow to recover (iStock) After the pandemic dramatically slowed commercial real estate deals across the U.S., the summer saw an uncharacteristically high uptick — but shifting dynamics cost New York City its top spot. Most years, investment increases about 9 percent…

The National Multifamily Housing Council’s monthly payment tracker found that 90.6 percent of those households paid some rent by Oct. 20. (iStock) Rental payments for market-rate apartments are holding steady from September, but down slightly from last year. The National Multifamily Housing Council’s monthly payment tracker, which collects data on collections in 11.4 million market-rate…

Floyd Mayweather & 5501 Pine Tree Drive, Miami Beach (Credit: Google Maps and Jun Sato/Getty Images) Professional boxer Floyd Mayweather Jr. sold his waterfront Miami Beach home for $6.3 million, taking a loss of over $1 million. Records show Mayweather, as trustee of The West Coast Legacy Trust, sold the property at 5501 Pine Tree…

Bill Gurley of Benchmark (Getty; Unsplash) No office, no problem, according to one of Silicon Valley’s major tech investors. In a concerning turn for commercial landlords hoping that tech companies will fill office buildings, Bill Gurley of Benchmark said an office is no longer a criteria for the startups that his venture capital firm funds.…

Jho Low and the hotel (Credit: Google Maps) EOS Investors is the buyer of a Beverly Hills hotel that the U.S. government seized from Malaysian financier Jho Low. The U.S. government sold the Viceroy L’Ermitage Beverly Hills Hotel in August. New York City-based EOS Investors LLC completed the $100 million deal on Thursday, according to…

When George Schneider decided to sell his home this spring, Opendoor made him an offer he couldn’t refuse. Schneider had paid $76,750 for his three-bedroom stucco house in the Phoenix suburbs a decade earlier. Opendoor, the iBuying startup backed by SoftBank and Lennar, was willing to pay him $225,000, all-cash. The deal closed in August.…

Weingart towers The Los Angeles City Council has approved $203 million in bond funding for six affordable and supportive housing projects in Skid Row and South L.A., among other areas. The Council approved the funding this week for a total of 609 units, according to Urbanize. The recipient of the most funding is the largest…

Shadow Ventures CEO KP Reddy (Linkedin) The latest in real estate crowdfunding: an accelerator aimed at helping early-stage proptech startups. Shadow Ventures, an Atlanta-based venture capital firm focused on real estate and construction tech, is raising money from individual investors for a new accelerator program that would help companies that are just starting out. Founder…

AMC’s financial woes have left the movie theater chain strapped for cash and facing in-court restructuring of its liabilities. (iStock; Getty) Movie theaters are reopening across the country, but that may not be enough to save some of the biggest cinema operators. AMC Entertainment Holdings, one of the world’s largest movie theater operators, said it…