CoStar Group’s second quarter profits fell after a strong first quarter even as traffic on its analytics and online marketplace jumped. The real estate data giant posted $61 million in net income from April through June, down 17.5 percent from the $74 million in Q1, it reported Tuesday afternoon. Second quarter profits were about flat compared to the same period in 2020, when the pandemic first took hold. Before the start of 2021, the company
The Chetrit brothers are using some of their Uniqlo cash to buy a stake in a $400 million apartment portfolio. Isaac and Eli Chetrit are in contract to acquire a roughly 50 percent interest in a group of Manhattan multifamily buildings owned by Josh Gotlib’s Black Spruce Management for approximately $200 million, sources told The Real Deal. The recapitalization values the 60-building portfolio at about $400 million, and comes as the city’s investment sales market
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If at first you don’t succeed, try, try again. At least, that’s Matt Lauer’s plan for selling his massive Hamptons estate on the Peconic River. The disgraced former “Today” show host has attempted to unload his home in North Haven on and off for years. He has now put it back on the market with a price of $44 million, according to the New York Post. The home covers almost 14,000 square feet and sits
The proptech revolution is accelerating as building operators turn to big data to monitor everything from tenant relations to their properties’ energy use. “Companies are making every piece of information available to every single person in the organization,” Anita Kramer, senior vice president at the Urban Land Institute Center for Capital Markets and Real Estate, said in an interview. “That’s powerful.” In a new ULI survey, real estate owners and operators cited data analytics as
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