Month: March 2021

The Real Deal’s March issue is live for digital subscribers and soon to hit doorsteps across the country. The real estate industry has spent a year adapting to the “new normal,” looking for silver linings and glimmers of hope. Now, spring is here and so are vaccines, converging into a long-awaited light at the end…

(Getty, iStock, YouTube/Illustration by Alexis Manrodt for The Real Deal) “When you tell a 30-something male he’s Jesus Christ, he’s inclined to believe you.” That’s a line from the trailer for Hulu’s new crime-thrilleresque documentary on WeWork, set to hit the streaming service April 2. The two-and-a-half minute preview for “WeWork: Or The Making And…

Doja Cat and the Beverly Hills Post Office home (Getty, The Agency) Grammy-nominated musician Doja Cat is moving into Beverly Hills Post Office, joining another recent arrival in the neighborhood, multiple Grammy-winning singer Rihanna. Doja Cat, a Los Angeles native whose real name is Amala Ratna Zandile Dlamini, paid $2.2 million for the 2,400-square-foot home,…

CalSTRS CEO Jack Ehnes and PCCP partner Jim Galovan (Photos via iStock, CalSTRS, PCCP) The nation’s second largest public pension fund and an investment firm are placing a big bet on build-to-rent housing. California State Teachers’ Retirement System and Pacific Coast Capital Partners have formed a $1 billion joint venture to invest in the fast-growing…

One of the projects, 6th Street Place (TCA Architects, iStock) Los Angeles has approved $86 million in bond financing for three permanent supportive housing developments. The City Council move on Tuesday came two weeks after it okayed $275 million in bonds for similar housing projects citywide. The most recent approvals were for developments totaling 198…

(Pexels) Mortgage applications to buy homes continued to rise last week, as refinance applications hit the lowest level in seven months. An index tracking applications to purchase homes increased 2 percent week over week, seasonally adjusted, according to the Mortgage Bankers Association. The uptick comes despite historically low levels of housing inventory and skyrocketing home…

(iStock/Illustration by Alexis Manrodt for The Real Deal) Retail sales in February dropped 3 percent from January, a sharper decline than expected, but reflecting the timing of stimulus payments. Sales in January had surged 7.3 percent after $600 stimulus payments were deposited into consumers’ bank accounts at the end of last year. Spending then fell…

(iStock) The arrival of spring — and with it, homebuying season — isn’t improving the outlook of homebuilders. The National Association of Home Builders/Wells Fargo Housing Market Index dropped to 82, seasonally adjusted, compared to February’s reading of 84. The index tracks homebuilder confidence in current and future single-family home sales and traffic of potential…

Jeffrey Epstein and Michael Daffey with 9 East 71st Street (Getty) A former Goldman Sachs executive is behind one of the biggest — and most notorious — residential sales this year. Michael Daffey, who managed some of the investment bank’s hedge fund clients, is the buyer of Jeffrey Epstein’s Upper East Side townhouse, Business Insider…

Anne Lacaton and Jean-Philippe Vassal and École Nationale Supérieure d’Architecture de Nantes. (photos courtesy of Laurent Chalet and Philippe Ruault) The winners of this year’s Pritzker Prize for architecture are not starchitects known for glittering skyscrapers or controversial designs. Rather, French architects Anne Lacaton and Jean-Philippe Vassal, who were awarded the profession’s top prize Tuesday,…