In July, apartment rent collections decreased nominally. After an initial drop in April, rent collections have remained steady through the pandemic, with approximately 30% of renters unable to make rent payments. In July, payments fell again with 32% of renters unable to make payments, according to a survey from Apartment List. Compared to June, non-payment
Real Estate
Though she bought it only just over a year ago for $1.75 million, Marisol Nichols, best known for her roles on “Riverdale” and “24,” has flipped a contemporary ranch house in L.A.’s once overlooked but now increasingly popular and ever-more pricey Valley Village area back on the market with Julianne Williams of Compass at just
Many landlords are updating property health and safety requirements to comply with new local and state regulations. In most cases, interior property alterations will be the tenant’s responsibility, but some leases require that costs be split between the landlord and the tenant. When adding new requirements to the lease, Dan Villalpando, a partner at Cox,
MRI Software says there’s an on-going rise in the use of card payments from residents of market-rate apartment units. With the increase in card payments, MRI Software credits the rise to one of two elements — “credit card fee waivers from landlords or residents’ struggles with cash flow,” according to a news release. Brian Zrimsek,
New Yorkers are fleeing the city at record rates — with many vowing never to return — and real estate in the Hamptons, Catskills and New Jersey is skyrocketing to previously unseen high prices. But many people, balking at a $50,000-a-month rental in the Hamptons, and with the newfound ability to work from home anywhere
The rent is too high. Anyone living in a major US would most likely agree. Seems the pandemic and its related fallout have spurred action on that front, both in rental costs and where those rents are being paid. US mutifamily rents decreased by $2 in June, down to $1,457, and year-over-year growth was in
Anders Holm, the writer and sketch comic who’s probably best-known for starring in Comedy Central’s “Workaholics,” — a show he also co-created and co-wrote — has significantly upsized his Los Angeles residential circumstances with the $3.5 million purchase of a stately home in the quaint city of South Pasadena, property records reveal. Built in 1926,
Despite the overall successful shift to working from home, offices are not a thing of the past, according to a new report from real estate investment management firm Black Creek Group. While there are potential cost-savings to having employees permanently work from home—notably, spending less money on office space—they want to be back in the office for
Opportunity zones have already been tremendously popular among investors. With thousands of opportunity zones in varying markets, there has been a tremendous range of projects and players investing in opportunity zones. Yet, there could be more to come. The pandemic and related economic dislocation could generate even more demand for opportunity zones because investors are
New York City’s newest most expensive listing may boast a 50-foot width, imported French limestone embellished with carvings and a massive 28,000 square feet of space — but it also comes with a dark past. Convicted sex offender and disgraced financier Jeffrey Epstein‘s Upper East Side mansion, one of his many homes where the pedophile
As medical offices struggle to keep their doors open during COVID-19, they’re often going to their landlords to request relief. While medical office landlords might be inclined to provide this relief rather than seeing their tenants go out of business, Allison Nelson, co-deputy chair of Akerman’s real estate group, says laws specific to the healthcare
Over the years, flamboyant British interior designer Martyn Lawrence Bullard has worked on homes across the globe for celebrities that span the demographic gamut — from the Kardashians to Cher, from Ozzy Osbourne to members of the Saudi royal family. But one of his favorite projects might be located in Malibu, where the longtime fan
When he was planning for 2020, Tom Shapiro, President, founder and CIO at GTIS, expected a lot of headwinds. What he (and everyone else) got was a full-blown pandemic that has some people mentioning the word depression. “Nobody could have predicted COVID and a complete shutdown of the country,” Shapiro says. “But there were a
In order to minimize risk for consumers and professionals alike, properties across all sectors have implemented certain regulations and temporary restrictions throughout the on-going COVID-19 pandemic. Among the various spaces implementing precautionary measures, medical properties have endured the most drastic and imperative modifications. As restrictions from entering healthcare facilities quickly progressed and patients increasingly avoided
Jeffrey Epstein’s Manhattan townhouse and Florida mansion have hit the market — with a combined asking price of $110 million, according to a new report. The dead pedophile’s Upper East Side townhouse at 9 E. 71st St. is listed at $88 million, while his waterfront estate in Palm Beach will ask $21.995 million, the Wall
At the end of each year, The Boulder Group surveys to get a sense of what they expect in the year ahead. With COVID-19 throwing the global economy into a tailspin, the firm decided to send out the survey early. “The majority of the time, at least in the last ten years, we’ve done different
Extreme method actor, budding filmmaker and avant-garde performance artist Shia LaBeouf significantly upgraded his residential circumstances earlier this year — a bit more on that in a minute — and has, thus, unsurprisingly hoisted his longtime home in the upscale foothills above Sherman Oaks, Calif., up for sale with a price tag of $2.25 million.
Navitas Captial, a venture capital firm focused on real estate technology and innovation has invested $6.5 million in Series A financing in an artificial intelligence-powered leasing agent software that currently streamlines leasing processes for over 250,000 multifamily communities. The company, MeetElise, was founded in 2017 by Minna Song of MIT and Tony Stoyanov of the University
Want to continue reading?Become a Free ALM Digital Reader. Once you are an ALM digital member, you’ll receive: Unlimited access to GlobeSt and other free ALM publications Access to 15 years of GlobeSt archives Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications 3 free articles* across the ALM subscription
The COVID-19 exodus has driven Hamptons real-estate prices to record highs. The Hamptons’ median sales price jumped 27.1 percent to $1.08 million during the second quarter of 2020, according to the July 23 Elliman Report, up from $850,000 over the same period in 2019. Breaking into the six figures, it is the highest median sales
COVID-19 and its accompanying economic fallout have weakened investors’ appetite for purchasing senior housing to a record-low, according to a new report. Only 59 senior housing and care acquisitions were publicly announced in Q2 2020, the first time deals have dropped below 60 transactions since Q2 2013, based on data collected by Irving Levin Associates
James Bond may have a license to kill, but the actor who famously played him in the 1950’s and ‘60’s lived in a stunning mansion that was definitely licensed to thrill. Sean Connery’s palatial spread on the French Riviera was owned by the legendary actor in the mid-‘70s and is now available through Knight Frank
Welcome to our 2020 edition of Women of Influence. As we have been doing for many years now, we have based our selection of nearly 200 candidates on such criteria as career achievements, community outreach and mentorship within the industry. And as we experienced in previous years, we found it hard, to say nothing of
The COVID-19 pandemic has shined an intense spotlight on the design of our cities, and has subsequently emphasized areas in which design is lacking. When citizens are unable to congregate indoors or utilize public transportation, we begin to uncover pain points that were previously overlooked within our cities. Though the pandemic has been challenging, it
You could even forget you’re in New York. An apartment on Manhattan’s Pomander Walk — a secret street that’s off the city’s standard street grid — has just hit the market. The quaint Upper West Side enclave, tucked away between Broadway and West End Avenue and West 94th and 95th streets, is lined with just
NEW YORK CITY—KKR has announced the final closing of KKR Real Estate Credit Opportunity Partners II with $950 million in committed capital. The fund will invest in the junior tranches of new issue conduit CMBS, or in other words, the B-piece, which is the riskiest part of the stack. KKK has invested more than $1.25
Senator Kelly Loeffler and her husband, New York Stock Exchange owner Jeff Sprecher, have added to their already noteworthy collection of personal residences with the $5.3 million purchase of a Los Angeles estate. The all-cash transaction closed earlier this month, according to records, and the house was technically acquired by the Atlanta-based couple’s family trust.
As COVID-19 shutters many restaurants around the country, one company is exploring opportunities to acquire vacant or closed restaurants and bars with kitchen space. Cordia recently launched a division called Virtual Dining Brands to consolidate its virtual concepts. The company’s virtual restaurants are intended to scale aggressively. The company already has two active online restaurants—Vegas.Pizza
Commercial real estate tenants are expecting and waiting for rents to drop. The industry is notoriously slow in responding to new market conditions, and most active players in the market, and either side of the table, are expecting pricing to come down over the next six to 12 months. “Over the past few months, I
And if you threw a housewarming party and invited everyone you knew. Well, now you can. The home from the still-popular television series “The Golden Girls,” which is also known for its catchy theme song, will soon hit the market for almost $3 million, reports The Wall Street Journal. Though the show is set in