Month: March 2021

John Kilroy and 1800 Owens Street (Kilroy, iStock) Kilroy Realty is selling a San Francisco office complex it leases to Dropbox for just over $1 billion, making it the second-highest price paid for a single property in the city’s history. Kilroy announced the news Monday, saying it agreed to sell the 750,000-square-foot complex at 1800…

Though landlords aren’t quite ready to say goodbye to their offices, employees are, according to a new survey by JLL. (Getty) Office landlords may be ready to get their buildings filled with workers again, but employees aren’t exactly clamoring to go back, according to a new survey by JLL. Of the 2,000 workers surveyed by…

President Joe Biden’s American Rescue Plan was passed over the weekend. (Getty / Photo Illustration by Kevin Rebong for The Real Deal) From rent relief to aid for restaurants, the $1.9 trillion stimulus package has lots of goodies for real estate. President Joe Biden’s American Rescue Plan was passed Saturday by the Senate and is…

Disneyland, Six Flags and other theme parks statewide will be able to reopen at limited capacity, as long as counties comply with updated Covid metrics. (Getty) The fun will return, but for a select few. California theme parks can reopen at limited capacity as soon as April 1, Provided counties meet updated metrics for Covid…

Quinn Residences’ Douglas Caraballo with Houndswood Village in Durham, North Carolina and Drayton Park in Savannah, Georgia (Quinn Residences) A rental home developer is planning to build thousands of new properties in the Southeast after a $500 million commitment from an investor. Miami-based Quinn Residences is set to close on the investment by the end…

L.A. County Homeless Initiative Director Phil Ansell (Getty, UCLA) Los Angeles County officials said it would continue Project Roomkey through September, but wouldn’t expand the federally-funded program that rents hotel rooms to homeless people at risk of Covid. The challenge related to waiting for reimbursement was the biggest factor for the decision, according to the…

Rendering of the RiverPark development (City of Long Beach) A developer has proposed building 226 homes on a stretch of Long Beach that had been a treatment site for oil well water. Integral Communities wants to build 74 houses and 152 attached townhouses on the land, according to Urbanize. Eleven of the townhouses would be…

Rendering of Sonnen’s ecoLinx home battery (Sonnen) A growing number of developers in the U.S. are investing in integrated solar power and battery systems for their buildings. Advances in energy storage technology and falling prices for batteries mean these “virtual power plants” are becoming viable for a variety of buildings and uses, according to the…

19 Cranberry Street and “Moonstruck” stars Cher and Nicolas Cage (Getty, Google Maps/Illustration by Alexis Manrodt for The Real Deal) The Brooklyn Heights home that appeared in “Moonstruck” is hitting the market. The 4,455-square-foot townhouse at 19 Cranberry Street is asking $12.9 million, according to House Beautiful. The five-bedroom home is impressive even independent of…

Suneil Setiya and the One Hyde Park complex (Photos via Wikipedia Commons/Rob Deutscher and Synergos) Hedge fund billionaire Suneil Setiya is said to be in talks to buy a massive London penthouse for around $153 million. The 14,000-square-foot unit that the Quadrature Capital founder is eyeing is located in the luxury residential complex known as…