Month: July 2021

Housing prices broke records for the third consecutive month in May, surging 16.6 percent over May 2020 (iStock) As home sales stagnated in the spring, a nationwide seller’s market saw prices continue to skyrocket. Housing prices broke records for the third consecutive month in May, surging 16.6 percent over May 2020 — the highest year-over-year…

Brad Inman and Beringer Capital’s Perry Miele (Inman, Beringer) After 25 years, Brad Inman is selling his eponymous media company. Inman will be sold to Beringer Capital, a Toronto-based private equity firm, the publication announced Monday. Terms of the deal were not disclosed. Brad Inman, 68, will maintain a minority ownership stake as well as…

Sue Gross and an aerial of the home at 960 N. Alpine Drive (Getty, Google Maps) While her ex-husband continues to duke it out with his neighbor in Orange County court, Sue Gross is looking to turn a quick sale in Beverly Hills. Gross, the ex-wife of billionaire Pimco co-founder Bill Gross, is wants $38…

Slate founding partners Blair Welch and Brady Welch (Slate, iStock) Slate Asset Management has raised over half a billion dollars for a new private-credit fund — capital which is already being put into action, the real estate-focused investment firm said Monday. The Toronto-based firm uses private-equity funds and public investment trusts to invest in real…

How do you get your company, investors and tenants through a year-and-a-half-long global crisis? “Communicate, communicate, communicate,” said Scott Rechler, CEO of RXR Realty. In this installment of Coffee Talk, Rechler spoke with The Real Deal’s Amir Korangy about the importance of agility and engagement in times of crisis. One of RXR’s greatest assets, Rechler…

Pandemic lockdowns for all three cities started in the last full week of March 2020, but office use had already plunged the week before as companies proactively sent workers home (iStock) For all of Wall Street’s drum-beating to march workers back to their desks, Manhattan office buildings have actually been slower to refill than those…

(Illustration by Alexis Manrodt for The Real Deal) The Real Deal’s investigative feature on the Prodigy fiasco has won an award from the New York Press Club for consumer reporting. The organization honored the story “Behind the biggest real estate crowdfunding implosion,” written by Sylvia Varnham O’Regan and Mary Diduch. The feature detailed the ordeal…

Bernard Huberman (Television Center TV and BLT Enterprises) BLT Enterprises founder Bernard Huberman, whose company now has a property portfolio of more than 3 million square feet, died July 10 at 65. Huberman founded the Santa Monica-based company in 1984. It holdings include industrial, creative office and soundstage properties, according to the Los Angeles Business…

(Getty) Swedish lawmakers are ready to cut a mortgage tax deduction to rein in a runaway housing market, but disagree over when to do it. Home prices in the Scandinavian country shot up nearly 13.2 percent in the first quarter of 2021 from the same period a year earlier, according to Bloomberg. That’s more than…

Towns and cities have begun restricting housing construction to save their supply of H2O. (iStock) The increasingly scarce supply of water is starting to have an impact on real estate development in some parts of the Western U.S. Towns and cities have begun restricting housing construction to save their supply of H2O, according to the…