Real Estate

Pierre Lepage and Nelly Gonzalez-Lepage had always wanted to live in New York. So when Nelly was applying for residency programs last fall, which would dictate where the Chicago-based couple moved come summer 2020, it felt natural to place a Big Apple hospital at the top of her list. The word that the 34-year-old doctor

After almost a year on the market, Los Feliz’s historic Van Griffith estate has found a new owner. Software heiress-turned-filmmaker and producer Megan Ellison, founder of Annapurna Pictures, has officially handed over the keys of the pedigreed spread to venture capitalist Blake Bartlett. The charming compound — which Ellison never used as her own private

July was a busy month for Walgreens Boots Alliance. On Tuesday, July 7, 2020, the company announced a $1.0 billion investment into VillageMD, which by itself would have been big news. However, they also indicated that as part of the investment, Walgreens would be opening 500 to 700 physician-staffed clinics inside their locations across 30

In this environment, office and retail landlords should probably work with tenants when they need a break with rent. But Jeff Lerman, co-founder of Lerman Law Partners, LLP, says they shouldn’t give away the farm. “One of the biggest mistakes is that the landlord feels like they have no choice but to give the tenant

Traditionally corporate real estate costs represent nine to 12 percent of a total company cost base. But as concepts like work from home and spoke and hub gaining traction as COVID-19 lingers, Joe Brady, CEO Americas for The Instant Group, a workspace innovation firm, sees an opportunity for some firms to bring those costs down

Don’t judge a book by its cover — and don’t judge a home by its facade. But what if the house itself resembles nothing more than a facade? In the Chicago suburb of Deerfield, an unusual-looking skinny home sold on Friday for $260,000, down slightly from its $269,900 list price. Just 3 feet wide on

Powerhouse film and television screenwriter and producer Kevin Williamson has celebrated his screaming showbiz success with the $17 million purchase of a newly constructed mansion in one of the most thickly celebrified neighborhoods in Beverly Hills. Forbidding by the standard of mere financial mortals, the sale price is none-the-less well below the last asking price

Tony Liou During this pandemic-induced recession, many investors are pausing to reflect on their business strategy and taking time to invest in overhead projects and strategies to optimize assets in their portfolio.  Three of the key areas investors are targeting for improvements are energy, sustainability and resiliency, often as part of a broader commitment to

Over the past few months New York-based IAC has accumulated a 12% stake in global hospitality and entertainment company MGM Resorts International for $1 billion.  MGM Resorts is a leader in leisure, hospitality and gaming, but IAC is zeroing in on an area that comprises a tiny portion of its revenue—online gaming, according to Barry

Call it the coronavirus terminator. A luxury high-rise in Miami has announced it has opened its doors to a COVID-19-killing robot. Paramount Miami Worldcenter has “employed” the Xenex LightStrike UV ray robot, which uses bursts of ultraviolet light to destroy the coronavirus — claiming it’s the first residential skyscraper in the country to do so.

Despite the fact that Covid-19 has put a major damper on in-person concerts, veteran rocker Jon Bon Jovi is still keeping the money rolling in through his house flipping side hustle. In 2018, the silver-maned singer dropped $10 million on an ocean-view home in mega-posh Palm Beach, Fla., that he promptly razed and replaced with

Retail rents are a big question mark today. As we head into late summer, tenants are beginning to request lease modifications and concessions, but rents have yet to falter. At some point that will change, but predicting where rents are heading is challenging, largely because there is a double market with essential and non-essential tenants.

Deal activity in commercial real estate is rebounding, according to the fourth monthly survey by NAIOP. An increase to 92.6 percent of respondents witnessed industrial properties acquisitions, compared to 70 percent in June. However, about 52.2 percent of respondents say they witnessed no deals in office properties in the last three weeks. Deals in the

While Manhattan’s luxury real estate market is struggling these days, one top broker is shilling a property in New Zealand. Ryan Serhant of Nest Seekers International, who shot to fame as broker to the ultra-wealthy in Bravo TV’s series “Million Dollar Listing New York,” is pitching a “billionaire’s retreat in COVID-free New Zealand,” according to

COVID-19 continues to stir the home real estate market and upset the plans of homeowners. Despite the uncertainty in the overall economy, though, demand for homes is remarkably strong. “Somewhat counterintuitively, the coronavirus-driven recession is propping up the housing market,” said Daryl Fairweather, chief economist for real estate brokerage company Redfin. “Homebuyer demand is surging

Adam Neumann, ex-CEO of workspace-sharing behemoth WeWork, is ditching luxury real estate properties almost as fast as tenants are vacating desks at his embattled former company. The latest of his lavish homes to be jettisoned from his and his wife Rebekah Neumann’s flailing financial portfolio is a fantastically secluded and self-contained, nearly 11-acre hilltop estate

This year was supposed to have set a record in real estate construction, particularly in the apartment sector, until the onslaught of COVID-19 stalled construction projects as the economy shut down, according to Moody’s Analytics. But while a number of developments have stalled, and some have been canceled,  many not-yet-completed real estate construction projects will

The coronavirus, which has changed personal behavior and frozen a great deal of social and economic activity, has also reduced the movement of people, slowing real estate markets, according to a new report from a professional organization. It’s also likely to transform the way real estate markets work for years to come, according to a

The ultra-rich are buying multiple quarantine mansions in the Hamptons for the “long term,” as Gov. Andrew Cuomo is begging them to come back to New York City. The Hamptons real estate market is seeing a recent trend known as “compounding,” in which people snap up two — or even three — seven- and eight-figure

Even as unemployment has soared over the past few months, rent payments remained relatively steady due in no small part to the $600 weekly payments in federal unemployment benefits. Now that the extra $600 per week in benefits has ended and negotiations for an extension remain mired in Congress, the multifamily sector may well see

Darby Stanchfield, who appeared on “Jericho” and “Mad Men” before she landed a plum part on Shonda Rimes’ ABC political drama “Scandal,” took in $2.4 million on the sale of her secluded traditional home in the largely unheralded but lovely and affluent foothills above Glendale, about 15 miles due north of downtown Los Angeles and,

The additional $600 in unemployment benefits have expired, and apartment owners are concerned about how it will impact rent collections. Affordable housing developers in particular are susceptible to declining rent collections as a result of the expired benefits. Many apartment owners, including KIMC, have advocated for additional stimulus. “I am certainly worried about it,” Jonathan

As conventional lenders have cooled on the commercial real estate space during the COVID-19 downturn, Stan Bril, CEO of MCG, has been getting a lot more calls recently from people who need financing. “I’ve had people come to me who have said that their credit line has either gotten cut, frozen or completely closed,” Bril

In a welcome step forward for the retail- and restaurant-ailing Union Square area, major food-hall operator Urban­Space has signed a long-in-coming lease for 10,000 square feet at Zero Irving, a 21-story mixed-use tower rising at 124 E. 14th St. The $200 million project by RAL Development Services stands on city-owned land leased to RAL for

TOLEDO, OH –  Kayne Anderson Capital Advisors’ private equity real estate division, Kayne Anderson Real Estate has purchased a healthcare portfolio from Welltower in a $1 billion transaction. The acquired portfolio comprises 34 properties, encompassing 27 medical office buildings and seven senior housing communities. The medical office buildings are located throughout the US and each

An effortlessly relaxed, enviably private and stylishly appointed contemporary pavilion high above tony Benedict Canyon in fancy-pants Beverly Hills, owned by English model and television presenter Catherine “Cat” Deeley, the bubbly, five-times Emmy nominated host of the long-running “So You Think You Can Dance” televised talent competition since 2006, has popped up for sale at

Despite market volatility and uncertainty created by the COVID-19 pandemic, investor activity within the net lease space for specific uses and credits continues to remain relatively strong, albeit at levels lower than pre-COVID. The industry is anxious and unsure about the long and short term effects of this crisis, and no one can provide any

While COVID-19 has slammed many parts of the economy, suburban apartments are performing well for one company. Chris Berry, managing director and co-portfolio manager for Barings, says several of the firm’s close-in suburban multifamily holdings “have exceeded expectations since fourth quarter 2019.”  Berry says that Barings these properties, some of which are located outside of

It was not love at first sight. After Buffalo, New York, couple Nick Weith and Damian Mordecai spotted a grand Victorian-style home on a popular Instagram account called Cheap Old Houses, they drove an hour south to a village called Gowanda (population 2,700) to tour the historic property. Initially, Mordecai, a 39-year-old nonprofit executive, was

Jeff Lerman, co-founding Lerman Law Partners, LLP, has been a commercial real estate attorney for 40 years. Before 2020, he thought he had seen everything that could happen in the sector. The COVID-19 hit and businesses have closed en masse. “Landlords literally cannot evict the tenant, and the tenant had no idea that they were