Month: June 2021

Fifth Wall’s Brendan Wallace and actor Robert Downey Jr. (Getty) Venture capital firm Fifth Wall and actor Robert Downey Jr. are investing in a firm that offers financing incentives for homeowners who want to reduce their energy consumption. The company, Sealed, scored $16 million in Series B funding, led by Fifth Wall. Investors include Downey’s…

(IStock) Objectively, the Peconic Bay Region Community Preservation Fund has been a massive success. Funded by a 2 percent transfer tax on real estate sales in the five East End towns — East Hampton, Riverhead, Shelter Island, Southampton and Southold — the fund has raised about $1.6 billion and preserved 10,000 acres of East End…

Stuart Miller of Lennar with The Maddox complex (Lennar, LMC) It seems like every large real estate firm is going green, but those efforts have had some seeing red. Landlords are targeting net-zero emissions to attract investors and eco-conscious millennials, but when it comes to securing financing to make upgrades, options are limited. The latest…

The pandemic disproportionately impacted unemployment rates for Black and Latino households, making them more likely to enter mortgage forbearance. (iStock) Low interest rates encouraged millions of Americans to renegotiate their mortgages in 2020, but a litany of new and existing barriers have left many Black and Latino homeowners unable to take advantage. While eight million…

The homeless problem in L.A. is among the worst in the country (Getty) Los Angeles wants a federal court to dismiss a lawsuit that would compel it to house thousands of the city’s homeless. Lawyers for L.A. argue the suit asks the court to “intrude into the city’s handling of complex policy issues that should…

Photo illustration of Tishman Speyer Properties President Rob Speyer and Brookfield Asset Management CEO Bruce Flatt (iStock, Getty) Since early in the pandemic, office landlords have maintained that work-from-home would not cripple their big-city portfolios. But talk is cheap. Who backed up their bluster with billions of dollars in office investments? Tishman Speyer and Brookfield…

In April, a modest three-bedroom split-level hit the market in New Providence, New Jersey, about a one-hour NJ Transit ride from Manhattan. It was listed on a Friday at $699,000. The property attracted 90 showings. By Sunday, there were 40 offers. “We needed a flow chart to compare options and bids,” said Winifred Cavazini of…

Jordan Slone of Harbor Group with the Olive Ridge complex (Harbor) Continuing a slew of multifamily buys across the country, Harbor Group International has made another purchase in Los Angeles County. Harbor bought the 220-unit Olive Ridge complex in Pomona for $46.75 million, the company said in a release on Wednesday. The property was previously…

The North Fork prides itself on what residents like to call its “small town feel.” Rain or shine, neighbors relish in the wide, scenic landscape, and wave “hi” to one another — a key giveaway as to whether you’re a local or you’re new around here. But as more larger houses began cropping up over…

Blackstone CEO Jon Gray and Home Partners of America CEO Bill Young (Blackstone, Owler) Blackstone is once again going all-in on the single family rental market. The investment giant has agreed to acquire Home Partners of America, owner of more than 17,000 homes across the U.S., for $6 billion, the Wall Street Journal reported Tuesday.…