Month: June 2021

As home prices went up, sales edged down — by 0.9% from April to May (iStock) As home prices soared, existing home sales dipped for the fourth month in a row, according to the National Association of Realtors’ report for May. Sales fell nearly 1 percent month-over-month to a seasonally adjusted annual rate of 5.80…

JPMorgan Chase CEO Jamie Dimon (Getty) A sector of the mortgage market that became a boogeyman during the Great Recession is seeing renewed interest from Wall Street. JPMorgan Chase is the latest company to invest in “private label” mortgages — loans which are bought and sold without the backing of government lenders such as Fannie…

NewPoint Real Estate Capital CEO David Brickman (Photo via Freddie Mac) Months after former Freddie Mac CEO David Brickman declared that he would lead a new company to shake up the multifamily sector, the lending platform has finally arrived. The company, called NewPoint Real Estate Capital, is backed by mortgage brokerage Meridian Capital Group, investment…

Regent Properties CEO Eric Fleiss with 701 B Street, 1 Columbia Place, 2 Columbia Place, and 707 Broadway (Regent Properties) UPDATED, 3:23 p.m., June 22: Regent Properties is making a big bet on the return of office workers in San Diego, a city with office vacancy levels that just hit a nine-year high. The Los…

Zach Aarons and Aaron Block of MetaProp Venture capital firm MetaProp closed a $100 million fund to invest in early-stage proptech companies. The New York-based firm’s fund, MetaProp Ventures III, is more than twice the size of its second fund, which raised $40 million in 2018. One of the earlier venture capital firms to focus…

7 Beach Plum Court, Amagansett (Corcoran) Even in a scorching-hot market, some long-term listings in the Hamptons still won’t sell. Why do these homes linger on the market for years, in the most desirable of areas, where investors are plentiful and inventory is scarce? Common culprits include persistently unrealistic asking prices, cavalier design choices that…

WeWork CEO Sandeep Mathrani (WeWork, iStock) As businesses seek greater flexibility in a post-pandemic world, WeWork’s offerings could be regaining popularity. The co-working giant is seeing its best net desk sales in nearly two years, Bloomberg reported Monday, following a tumultuous 2020 in which it reeled from a failed IPO attempt compounded by plummeting memberships…

9900 Beverly (Binyan Studios) Developers Angelo Gordon and Townscape Partners landed a $231 million inventory loan on their ultra-luxury West Hollywood condo project, where the first units are expected to open in August. Deutsche Bank and Starwood Property Trust provided the debt on the development at 8899 Beverly Boulevard, according to Commercial Observer. Deutsche provided…

The Sherman Oaks Galleria (Marriott) California has dropped most Covid restrictions and now Regal Cinemas is moving into the former ArcLight Cinemas in the Sherman Oaks Galleria. The second largest movie chain in the U.S. signed an 87,000-square-foot with mall owner Douglas Emmitte to take over the shuttered complex, according to the Los Angeles Times.…

What to do with $850 million? That’s the question Newmark is now asking itself. By virtue of some Wall Street wheeling and dealing, the commercial brokerage is set to receive a windfall in the form of hundreds of millions of dollars’ worth of shares in Nasdaq Incorporated — the financial services firm that operates the…