Real Estate

A version of this story ran in the New York Post print editions on July 16. For Catherine Ebel and her family, theme park season passes are an annual tradition. But in early May, as the mother of five realized that summer 2020 was going to be far from typical due to the coronavirus pandemic,

Blackstone Real Estate Partners VIII and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors.  BioMed is the largest private owner of life science office buildings in the US with a 11.3 million square foot portfolio concentrated in Boston/Cambridge, San Francisco, San Diego, Seattle and Cambridge UK..

Yet another showbiz star has joined the well-monied folds of celebrities living in L.A.’s Encino neighborhood — records reveal Steelo Brim has shelled out $4.2 million for a transitional-style mansion in the celeb-studded San Fernando Valley enclave. The “Ridiculousness” host’s new home weighs in at a substantial 6,000 square feet, with five bedrooms and seven

Taking a pulse on the impact of the pandemic on all sectors of global commercial real estate, valuation firm Duff & Phelps, in conjunction with the GRI club, surveyed over 300 directors on the state of affairs.  A vast majority of US-based responders, 83% anticipate a U-shaped recovery, and just under half of those surveyed,

When asked if it was COVID-19 that forced him to flee New York for Maine in March, Jordan Cohen doesn’t waffle. “One hundred percent,” the Greenwich Village native, 40, told The Post. “It was when things looked precarious and we didn’t know if we’d get out.” Jordan grew up near Grace Church, attended Bronx Science

The fitness industry has struggled during COVID-19. In May, five of the strongest national brands saw visits down an average of 84.5% year over year, according to Placer.ai. But as the pandemic now stretches past six months, gyms are beginning to mount a modest comeback. It turns out being stuck at home has increased people’s

Now that we’ve entered a period of economic turbulence, distressed funds are raising record levels of capital this year. Usually, distressed funds perform well during certain economic conditions, including when monetary conditions have been dramatically eased and when high-yield debt issuance is high, according to a report on crisis-era distressed debt returns by Julian Falcioni

Less than two years after he bought it from powerhouse media exec Dana Walden for $9.5 million, marijuana mogul Chris Ganan has checked out of his resort-style estate in L.A.’s Brentwood neighborhood. The nearly $10 million, off-market deal closed off-market, so it’s not clear what, if any, changes the MedMen Chief Strategy Officer and his

While there are plenty of reasons to be optimistic about the commercial real estate market—even in the midst of a pandemic—but investors should also have realistic expectations about the recovery. With a prolonged shutdown of businesses, there will likely be a slow recovery period. More importantly, a vaccine will be essential to a true recovery.

Model Katrin Thormann and her husband, Compass broker Nick Gavin, are listing their Manhattan duplex for $2.69 million. Gavin and Thormann paid $2.57 million for the loft-like apartment, which has two bedrooms and 2½ bathrooms, in 2016. The 1,601-square-foot fifth- and sixth-floor loft comes with a home office and a modest $1,467-a-month maintenance fee. Striking original details

The amount of sublease space on the market has been growing since the pandemic began.  In a recent report, CBRE said direct leasing activity in the second quarter of 2020 declined 85% compared to the same quarter in 2019. “That is a dramatic number,” says Withers Attorney Steve Wilson. “It doesn’t address subleases, but it

Home prices in newly built communities are outpacing pricing trends from 2019. According to data from Zonda, 56% of new home communities raised prices in July, while only 39% of new home communities increased pricing in July 2019. Phoenix, Denver, Las Vegas, Sacramento and Riverside are epicenters for new home construction an increased pricing. “The

Jeff Bezos protégé Andy Jassy, Amazon’s longtime second-in-command and presumptive heir apparent, appears to be following in the footsteps of his internationally famous boss. Quick on the heels of Bezos paying $165 million for Beverly Hills’ iconic Jack Warner estate, the Seattle-based Amazon Web Services CEO and his wife Elana have dropped $6.7 million for a relatively

Americold Realty Trust continues to grow its footprint with its announcement that it has entered in a definitive agreement to buy privately-held Agro Merchants Group from an investor group led by funds managed by Oaktree Capital Management, L.P. for $1.74 billion in a cash-and-stock transaction. The acquisition is subject to customary and regulatory closing conditions

Unique home, ahoy! The Quist family of Minnesota is sharing details about their whimsical, one-of-a-kind home in a new video. Homeowners Tom, 59, and Kris, 57, along with their 22-year-old daughter, Kallie, have lived in a Depression-era “house that used to be a boat” in the eastern Minneapolis suburb of Stillwater for over 20 years.

According to a new report from Building Engines, 89% of property owners believe that technology is shaping the commercial real estate industry, and 84% of owners believe that technology can help the business meet all operational goals. Though in the past, technology advancements within commercial real estate have transpired slower when compared to other industries,

Missed mortgage payments are increasing. Recent research from Clever Real Estate shows that nearly a quarter of Americans have missed a mortgage payment already during the pandemic, and half of homeowners have said they will run out of savings in 2020, putting more pressure on homeowners to make their mortgage payment. This could signal the

Protein bar baron-turned-prominent motivational speaker and YouTuber Tom Bilyeu and his business partner wife Lisa are officially checking out of the Beverly Hills Post Office neighborhood, listing their hulking “starter” mansion on iconic Mulholland Drive with a $14.8 million ask. That’s a big jump over the $8.3 million they paid for the Spanish Revival-inspired villa

Even though we’re in the middle of a pandemic, BTI Partners, a developer based in Ft. Lauderdale, Fla., is still delivering new projects in need of retail tenants. For instance, the retail portion of the company’s Westshore Marina Landing At Westshore Marina District project in Tampa is slated to be completed early next year.   With

For more than 150 years, Scott’s Family Resort has beckoned families to its nearly 1,000 bucolic acres. But the waterfront compound in Deposit, New York — just under a three-hour drive from the city — is best known as the idyllic backdrop for a few beloved episodes of Amazon Prime’s hit series, “The Marvelous Mrs.

Retail rent collections are continuing to increase. In September, national retailer rent collections increased to 80% for the first time since the onset of the pandemic, according to data from Datex Property Solutions Tenant Track Report. Total retail rent collections trended behind national tenants at 77%, while non-national retail collections were 73.6%. “The peak suggests

Aileen Getty, granddaughter of larger-than-life tycoon J. Paul Getty — once the world’s richest man — has added another gem to her already many-feathered real estate cap. Property records reveal the oil heiress recently shelled out $3.8 million for a chic contemporary home in Studio City. Of course, Getty is certainly no stranger to the

Apartment sizes are getting smaller in the US. Research from RCLCO Real Estate Advisors tracked trends in apartment sizes, and found that apartments today are 100 square feet smaller than those built in the 2000s, falling from an average of 1,031 square feet for apartments built from 2000 to 2009 to 931 square feet for

The pandemic has halted many apartment projects in their tracks—but a recent report from John Burns Real Estate Consulting says that there are still opportunities to build new apartment properties in both urban and suburban markets. The caveat according to the firm: It depends on the timing. The two biggest multifamily segments in high demand

Sandra Lee has sold the beloved Westchester home she shared with ex-love Andrew Cuomo for $1.85 million, The Post can reveal. Lee, 54, moved to Los Angeles following her split from the New York governor in September 2019 — and has spent this weekend moving into a new home in Malibu. Lee bought her Westchester

JPMorgan Chase has committed $30 billion over the next five years to provide economic opportunity to underserved communities, especially the Black and Latinx communities. “Systemic racism is a tragic part of America’s history,” said Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co. in announcing the offering. “We can do more and do better to break

Shawn Ashmore, best known for his portrayal of Iceman in the mega-blockbuster “X-Men” franchise, has hung a not-quite $2.1 million price tag on his showbiz pedigreed home in L.A.’s trendy and increasingly celebrified Studio City community. Since “X-Men: Days of Future Past” (2014), which hauled in three-quarters of a billion dollars in worldwide box office,

The chasm between commercial property buyers and sellers widened in the third quarter due to the Coronavirus pandemic, putting a strain on sales. However, when it came to cap rates, investors found stability, according to a new survey from CBRE. While 6% of buyers expected discounts from pre-pandemic prices, just 9% of sellers were willing

It’s no bargain basement. But it’s certainly a seductive one. A plain-looking suburban Pennsylvania house with a sexy lower-level lair its late owners dubbed the “Boom Boom Room” sparked a bidding war among interested buyers. The three-bedroom split-level in Broomall, a Delaware County enclave about 25 miles west of Philadelphia, lured lots of lookie-loos after

The special servicing rate hit its highest mark since May 2013, increasing 44 basis points to 10.48% in September, according to Trepp. In August, the rate was 10.04%. An increase in retail and lodging special servicing drove the surge in the rate, which sat at 3.10% a year ago. Trepp says both sectors produced their