NYC Real Estate News

Tue, 10/22/2019 - 15:42

As WeWork hustled to secure a rescue package, its former CEO was under intense pressure to shore up his own finances. Last week Adam Neumann paid a $150,000 deposit to secure a $100 million loan to refinance his interest in a Chelsea development site, people familiar with the matter told The Real Deal. The move came as lenders, chief among them JPMorgan, were pressuring him to repay hundreds of millions of dollars that he had

The post WeWork founder scrambled for $100M loan before $1.7B bailout appeared first on The Real Deal New York.

Tue, 10/22/2019 - 15:05

Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected] This page was last updated at 3:05 p.m. Video produced by Sabrina He Facebook wants to tackle California’s housing crisis. The company says it will provide $1 billion to build 20,000 housing units in the Bay Area and Silicon Valley.

The post WeWork’s cash flow troubles, selling NYCHA’s air rights and more: Daily digest appeared first on The Real Deal New York.

Tue, 10/22/2019 - 14:00

Despite all the hype, investor interest in Opportunity Zone funds simply hasn’t materialized as fund managers had hoped. According to an analysis by Novogradac, a San Francisco-based accounting firm, 103 Opportunity Zone funds have raised just 15 percent of what fund managers expected. There are at least 285 Opportunity Zone funds in the United States, and many have not shared fundraising metrics, according to the firm, which advises investors on tax incentives. While Treasury Secretary

The post Opportunity Zones, real estate’s next big thing, fails to attract much investment appeared first on The Real Deal New York.

Tue, 10/22/2019 - 13:15
Photo by Sagie / Flickr The Newseum in Washington D.C. will close for good at the end of this year due to financial issues, and when it does, it will put a piece of the World Trade Center antenna in storage instead of giving it to the 9/11 Memorial and Museum here in New York City, as Gothamist reports. The 360-foot television and radio antenna, which was located on the North Tower, has been part of the Newseum’s September 11th exhibit since it opened at its current location in 2008. Opened in 1997 in Rosslyn, Virginia, the Newseum moved into its current location […]
Tue, 10/22/2019 - 13:15

Grant Cardone, the real estate investor, speaker, author and business consultant who has amassed more than 2.4 million Instagram followers, spoke about his investing philosophy backstage at The Real Deal’s sixth annual Miami Showcase & Forum.

The post Backstage with Grant Cardone appeared first on The Real Deal New York.

Tue, 10/22/2019 - 13:00
Renderings courtesy of FXCollaborative The Brooklyn Music School has just announced plans for a new 20,000 square-foot facility as part of a 167,000 square-foot mixed-use development in the heart of the Brooklyn Cultural District. In addition to expanding the school’s existing facilities to meet growing demand, the FXCollaborative-designed project will also create 120 new residential units with 36 of those reserved for moderate-income households earning 70 to 100 percent of the area median income. Gotham Organization has tapped FXCollaborative to design a 24-story building to occupy a currently empty lot at 130 St. Felix Street which has been used as a […]