Month: October 2020

Rachel Brosnahan and the property (Credit: Jose Perez/Bauer-Griffin/GC Images) An Upstate New York resort that has been featured in Amazon’s “The Marvelous Mrs. Maisel” is hitting the market for the first time in its 150-year history. The 1,000-acre Scott’s Family Resort in the small town of Deposit has been listed for $6 million after an…

Blackstone’s Stephen Schwarzman, Roku CEO Anthony Wood and Coleman Highline in San Jose (Blackstone; Wikipedia Commons; Coleman Highline) A few months after making a blockbuster deal in Hollywood, Blackstone Group is making another big bet on streaming video with the purchase of a San Jose office property leased to Roku. Blackstone’s non-traded real estate investment…

Kaufmann Desert House (Courtesy Coastal Luxury Living) One of modernist architect Richard Neutra’s most famous homes is hitting the market in Palm Springs. The Kaufmann Desert House, located at 470 West Vista Chino in Palm Springs, has listed for $25 million, the Wall Street Journal reported. The home was built in 1946 for Edgar J.…

IKEA Chief Sustainability Officer Pia Heidenmark Cook (IKEA, iStock) Got an old Billy bookcase or Poang chair to get rid of? Good news: Ikea will take them back, no questions asked. The Swedish giant will begin a buy back program on November 24 to coincide with what is traditionally Black Friday in the U.S. retail…

San Francisco and New York (iStock) Rents are free-falling in the country’s most expensive market. The median monthly rate for a studio in San Francisco in September was $2,285 per month, Bloomberg reported, citing data from Realtor.com. That’s 31 percent lower than it was a year prior. In comparison, rents fell about 0.5 percent nationally.…

Blackstone’s Kathleen McCarthy with 440 Saw Mill River Road, Ardsley, New York and 1000 Gateway Boulevard in San Francisco, California (left) (Blackstone; BioMed Realty) Blackstone Group sold a portfolio of 93 life-science buildings to a separate fund the asset manager controls for $14.6 billion, in a transaction that represents a $6.5 billion gain in value…

Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow) UPDATED, Oct. 16, 12:50 p.m.: The owner of a European hotel chain bought a waterfront Boca Raton home for $5.5 million from an Iranian princess who is the granddaughter of the former Shah of Iran. Mikhail Avrutin bought the…

While some Americans have benefited from low mortgage rates, others find themselves locked out (iStock) Not everyone is reaping the benefits of a low-mortgage rate environment. As mortgage lenders tighten their belts, available housing credit has hit the lowest level since February 2014, leaving hopeful homebuyers with poor credit scores struggling to qualify for loans,…

The Internal Revenue Service is going after foreign real estate investors as part of a broader sweep to collect revenues amid the pandemic.  (iStock) In the past month, the Internal Revenue Service has announced two new audit campaigns targeting overseas investors who own or hold interests in U.S. property. The campaigns focus on foreign investors…

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