Miami’s barrier islands are home to many tall luxury buildings, and, according to a study recently published in Earth and Space Science, about three dozen are sinking. Thirty-five luxury condos and hotels across Florida’s Sunny Isles Beach, Surfside, Miami Beach and Bal Harbour have faced subsidence in the past handful of years, the study found.
Tim Kitchen | The Image Bank | Getty Images There may not be a lot of homes for sale these days, but there is a lot of housing space sitting empty. In fact, the most in recorded history. The number of extra bedrooms, which is defined as a bedroom in excess of the number of
The Federal Reserve announced Wednesday that it will lower its benchmark rate by another quarter point, or 25 basis points. This marks the third rate cut in a row — all together shaving a full percentage point off the federal funds rate since September. For consumers struggling under the weight of high borrowing costs after
Jeff Greenberg | Universal Images Group | Getty Images Mortgage rates moved markedly higher last week, causing overall mortgage demand to drop. Total application volume fell 0.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the first decline in five weeks. The average contract interest rate for
There were some shifts in the rankings for America’s hottest real estate markets for higher-end vacation homes this year compared to last, and the top spot this year saw a meteoric rise in popularity. A fresh analysis from second-home co-ownership marketplace Pacaso revealed which U.S. counties were the hottest markets for luxury vacation homes in 2024, based on increases
We’re buying 25 shares of Home Depot at roughly $407 each and 14 shares of Blackrock at roughly $1,041. Following Tuesday’s trades, Jim Cramer’s Charitable Trust will own 200 shares of HD, increasing its weighting to 2.25% from about 2%. The Trust portfolio, used by the CNBC Investing Club, will own 75 shares of BLK
Hilton assured us in October that the latest postponement we recently reported in reopening the landmark Waldorf-Astoria hotel — until spring of 2025 — would be the project’s last delay. A week ago, as if to give credence to that, Hilton trumpeted that the online room reservations site would go live on Dec. 10. It
Miami Heat star Jimmy Butler is living large, shelling out over $70,000 a month to rent a sprawling waterfront mansion on Miami Beach’s exclusive Hibiscus Island, sources told the Real Deal. The six-time NBA All-Star, whose name has been swirling in trade rumors, has temporarily moved into the 8,500-square-foot property. The five-bedroom estate boasts ocean
The Federal Reserve is expected to lower interest rates by another quarter point at the end of its two-day meeting on Dec. 18. That would mark the third rate cut in a row — altogether shaving a full percentage point off the federal funds rate since September. So far, the central bank has moved slowly as they recalibrate policy after
Nestled on one of New York City’s most picturesque blocks, Bob Dylan’s former residence at 242 E. 49th St. is up for grabs at $7.25 million. This five-story Turtle Bay Gardens townhouse boasts a rich history of celebrity tenants, including Hollywood royalty, Broadway legends and Dylan — one of America’s most iconic musicians — according
Mortgage rates fell again last week, and while the drop wasn’t huge, it was enough to spur current homeowners to look for some savings. The surge in refinances was behind a 5.4% increase in total mortgage demand compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest
The official residence of the US ambassador in Athens, Greece, commonly referred to as the Jefferson House, serves as both the ambassador’s home and a venue for diplomatic events. The exterior of the residence in Athens, Greece, where the US Ambassador resides. Athens College And it will soon be home to former Fox News personality,
Tal Alexander (L) and Oren Alexander (R). Getty Images Federal prosecutors accused top real estate agents Tal and Oren Alexander and their brother, Alon, of drugging and raping “dozens of victims” over more than a decade. The brothers were arrested in Miami Wednesday on sex trafficking charges related to the alleged assaults. They face charges of
Sdi Productions | E+ | Getty Images A number of factors can get your mortgage application denied. So-called “unverifiable income” is one of them. Mortgage lenders want to know if you’re financially capable of paying back the loan. One way they’ll do that is by requesting documents like your federal income tax returns, W-2 and
From 2020 bust to 2024 boom. Manhattan’s office market mounted a stirring recovery from its pandemic doldrums, with space so tight that tenants wanting to move or expand are out of luck. Companies such as Singapore-based sovereign wealth fund Temasek, which has 27,000 square feet at the Seagram Building at 375 Park Ave., wanted to grow
The American mall isn’t dying — it’s evolving. Once the epicenter of suburban life, these sprawling shopping centers are now being transformed into mixed-use hubs, combining housing, retail and entertainment in a bold bid to stay relevant in a changing world, reports CNBC. Developers are bulldozing empty department stores like Macy’s and JCPenney, trading the
After the deadly collapse of a 12-story condominium tower in the Surfside suburb of Miami, Florida, in 2021, state lawmakers implemented new requirements for older condominiums. Buildings at least 30 years old, like the Champlain tower that fell, have to undergo special inspections, make repairs and gather reserve funds for future maintenance. The deadline is
Century 21, the discount fashion department store, slimmed down from 250,000 square feet to 100,000 square feet when it reopened in May 2023 after more than two years of pandemic closure. But the ASG Equities, the real estate arm of the store’s owners, the Gindi family, went right to work finding new tenants and uses
Miniseries | E+ | Getty Images Housing is not cheap — whether you’re buying or renting. In October, the median sales price for a single-family home in the U.S. was $437,300, up from $426,800 a month prior, according to the latest data by the U.S. Census. Meanwhile, the median rent price in the U.S. was
Grace Hightower, the actress and ex-wife of Robert De Niro, is ready to turn the page on another chapter of her life. Following the onetime couple’s high-profile 2018 split, Hightower has secured a buyer for the sprawling Central Park-facing co-op they shared in the Brentmore, a storied Upper West Side address once home to celebrities
Macy’s longtime Brooklyn home could soon become a showplace for “experiential entertainment retail” for companies like Netflix, Universal and Lego, according to the leader of a partnership that just purchased the four-story, 440,000 square-foot property at 422 Fulton Street. Albert Laboz, founder and chief executive of United American Land, said, “Everything is on the table”
Mithrl is among a wave of startups coming back to San Francisco and working in person four days or more each week. Courtesy: Mithrl When Noah Jackson began his search for a new software engineering job at the start of 2024, there was one quality he knew he wanted in his next employer: office culture.
The island paradise on which Harry and Meghan were said to have had a secret getaway is up for sale for $79.5 million. Exotic property broker Vladi Private Islands says the listing — dubbed the “Ultimate Package” and billed as the perfect Christmas present — features Kaibu Island in Fiji’s Lau archipelago. The then-newly-married couple
Feeling shut out of this hot market? Maybe some FOMO — fear of missing out. You’re not alone. The S & P 500 keeps plowing through record highs in the first week of December after November posted the best monthly gains of the year. All that buying, however, has pushed the market into overbought territory,
In this article MAC Follow your favorite stocksCREATE FREE ACCOUNT Say hello to life at the mall. The classic American mall is undergoing a dramatic transformation as real estate developers swap out dying department stores for apartments, ushering in an era where living at the mall could soon become a new norm. Some U.S. developers
Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty Images Potential homebuyers are responding to lower mortgage rates and a higher supply of homes for sale. That fueled mortgage demand last week, as consumers looking to refinance
Lizzy Caplan, best known for her role as Janis Ian in the still-famous film “Mean Girls,” has listed her Los Angeles home for $2.85 million. The 1961-built property is a shining example of midcentury-modern architecture Made up of three bedrooms and two baths, the 2,000-plus-square-foot residence offers sweeping views and an eye-catching design. Lizzy Caplan.
Fotostorm | E+ | Getty Images If you need to get a mortgage to buy a house, make sure your finances are in order — especially your debt-to-income ratio. Your debt-to-income ratio is all your money debt payments divided by your gross monthly income. It’s the “number one way” lenders measure your ability to manage
Sturti | E+ | Getty Images When shopping for a home, many buyers may hope to avoid purchasing a property subject to a homeowners association. But that may be easier said than done. That’s because HOAs are on the rise in the U.S. Therefore it’s important to understand the ins and outs of these organizations
Printemps, the French luxury department store, will open its first US location in March, One Wall Street developer Harry Macklowe says. The eagerly awaited launch – previously reported as happening in the spring — might be the most momentous debut ever in the retail-deprived FiDi neighborhood. French luxury department store Printemps will open its first
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