Real Estate

Albert Pujols lists Irvine mansion for $10M

The Real Deal New York 2/5 8:00A By TRD Staff
Known for his prodigious power on the field, former Major League Baseball player Albert Pujols is looking to flex his muscles on the real estate market. The future Hall of Famer has listed his Irvine mansion for nearly $10 million, the Los...

Florida, man: Sunshine State has more jobs than New York

The Real Deal New York 2/5 7:00A By TRD Staff
Florida, man. For the first time in at least four decades, Florida has more jobs (barely) than New York, Bloomberg reported. The Sunshine State, with 9,578,500 nonfarm jobs, edged New York’s 9,576,100 nonfarm jobs — just 2,400 jobs — in 2022, the...

Cannabis entrepreneurs pay premiums for real estate

The Real Deal New York 2/5 6:00A By TRD Staff
Marijuana entrepreneurs are not high on the real estate industry. Even as cannabis becomes legal in more states, the growing market is facing a “green tax” from owners and landlords, MJBizDaily reported. The premiums are not discriminating by...

Amazon scraps plans for big-box store

The Real Deal New York 2/5 5:00A By TRD Staff
Amazon’s foray into physical retail has gone so poorly, the online shopping juggernaut scrapped plans to open its first big-box store, The Information reported. The store, which didn’t have a name but was developed under the code-name Reese, was...

Developer destroyed potential evidence in battle over $800M project

The Real Deal New York 2/5 4:00A By TRD Staff
One of the most basic tenets in civil litigation is a party’s obligation to retain evidence that may be pertinent to a lawsuit or a potential lawsuit. A Massachusetts judge has ruled that developer Stephen Weiner and his son, Adam, violated that...

Amir Korangy: ChatGPT is something to lose sleep over

The Real Deal New York 2/5 3:00A By TRD Staff
Most of the downsides discussed about ChatGPT center around things like students taking advantage of the artificial intelligence bot to write their assignments or professional writers using it to cut corners. But Amir Korangy, founder and...

They said what now? Real estate quotes of the week

The Real Deal New York 2/5 2:00A By Ted Glanzer
Here’s a roundup of the prescient, colorful, sobering or simply interesting quotes from the past week across the real estate industry. “This whole concept of working from anywhere went too far.” Christian Ulbrich, CEO of Jones Lang LaSalle Inc.,...

Dumont Building defaults on $103M loan

The Real Deal New York 2/5 1:00A By TRD Staff
Just days after Scott Rechler confirmed that RXR will hand back two of his buildings to lenders, a $103 million loan on the DuMont Building is in default, Crain’s New York reported, citing a Fitch report. A special servicer is negotiating with...

From California to New York, YIMBYism is going mainstream

The Real Deal New York 2/5 12:30A By Kathryn Brenzel
A red and white “PARK YOUR FLEET” sign at a defunct Harlem gas station airs the frustration of a developer who just missed a pivot in the long fight to build more housing in America. In January, Bruce Teitelbaum opened a truck depot on a West...

Breakups, layoffs and walkaways: No love in real estate last week

The Real Deal New York 2/5 12:00A By Ted Glanzer
It’s almost Valentine’s Day, but love isn’t in the hearts of some real estate players. Instead of love letters or flowers, it was pink slips and legal documents making their rounds. Facing the impact of remote work and rising interest rates (of...

Sternlicht’s Starwood plans outdoor-focused hotel chain

The Real Deal New York 2/4 10:00A By TRD Staff
Well-known real estate investor and hotelier Barry Sternlicht is launching a new hotel chain with a focus on the great outdoors. The Starwood Capital Group CEO said Field & Stream Lodge Co. will operate hotels around national parks, ski...

Connecticut proposal would convert empty box stores into housing

The Real Deal New York 2/4 8:00A By TRD Staff
Connecticut Democratic lawmakers last week proposed a multifaceted approach to tackle the housing shortage in the state, including converting empty strip malls and big box stores into housing, CT Insider reported. The state senators who back the...

Bay Area city caught trying to pull a fast one for housing sites

The Real Deal New York 2/4 6:00A By TRD Staff
Bay Area cities are trying a lot of nutty tactics to comply with the state’s housing element mandate, but Orinda may be top banana. The Contra Costa County city was caught listing improbable housing sites in its draft, the East Bay Times...

Patrick Mahomes stacking up Super Bowl bids — and homes

The Real Deal New York 2/4 4:00A By TRD Staff
Football may be in Patrick Mahomes’ blood, but real estate is in his name. The Kansas City Chiefs quarterback has amassed an $8 million property portfolio, the New York Post reported. The 27-year-old’s holdings include four properties, three of...

Former “Flip This House” star fails to have fraud claims dropped

The Real Deal New York 2/4 2:00A By TRD Staff
A former reality TV star facing fraud lawsuits for a series of real estate seminars lost his most recent bid to have the claims dismissed. Armando Montelongo Jr., who starred on the A&E series “Flip This House” for three seasons, was unable to...
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