Spring home sales to get boost from falling mortgage rates, rising inventory

The national housing market may see its best home-buying season in years. Trends like falling mortgage rates, rising home inventory and slowing home-price growth mean fewer bidding wars and more price cuts for buyers, the Wall Street Journal reports. The average rate on a 30-year mortgage is now just over 4 percent, down from nearly 5 percent last year, the Journal reports. Meanwhile, home-price growth has slowed for 10 consecutive months, rising 4 percent year […]

source https://therealdeal.com/2019/04/01/spring-home-sales-to-get-boost-from-falling-mortgage-rates-rising-inventory/

Thailand’s richest family sells Plaza pad & other notable Manhattan residential sales last week

In the world of New York City’s high-end residential market, a Brazilian executive bought at the Plaza, and an Oscar-winning filmmaker sold in Soho. Source: A TRD review of public records filed with the New York City Department of Finance from March 25 to March 29. 1.) An entity tied to Marisa Chearavanont — Forbes valued her family’s net worth at $36.6 billion in 2017 — sold her pad at the Plaza at 1 Central […]

source https://therealdeal.com/2019/04/01/thailands-richest-family-sells-plaza-pad-other-notable-manhattan-resi-sales-last-week/

The Real Deal’s April issue is now available to all subscribers

The Real Deal’s March issue is now live, and digital subscribers to TRD are getting the first look at what’s inside. Subscribers now have access to stories including: – A deep dive into how many of Manhattan’s luxury condos are owned by people who don’t live there – Why a growing number of industry players thinks cannabis is the next big thing, despite it being a tricky gamble – A ranking of NYC’s top lenders for […]

source https://therealdeal.com/2019/04/01/the-real-deals-april-issue-is-now-available-to-all-subscribers/

Simon Property launches online platform to drive sales at outlet stores

Simon Property Group is launching an online shopping platform designed to drive sales to its nationwide network of outlet stores. The Indianapolis-based shopping mall giant plans to debut Shop Premium Outlets this spring. It will feature 2,000 brands and more than 300,000 products discounted by up to 65 percent off retail, according to the Indianapolis Star. Simon’s Chief Creative Officer Chidi Achara said the online effort would complement the real estate investment trust’s brick-and-mortar business. […]

source https://therealdeal.com/chicago/2019/04/01/simon-property-launches-online-platform-to-drive-sales-at-outlet-stores/#new_tab

A sponsor unit at One57 lists for $58.5M

Have $60 million to spend on a Central Park-facing condo? Two units at One57 are going to be battling for your attention. Extell Development just listed a 6,200-square-foot sponsor unit at 157 57th Street for $58.5 million, or $9,400 per square foot. It is now the most expensive sponsor unit listed at the building, and the move comes as owners in the tower are putting their own units on the market. The apartment is a […]

source https://therealdeal.com/2019/04/01/a-sponsor-unit-at-one57-lists-for-58-5m/

Alibaba’s Joseph Tsai in talks to buy Barclays Center, Nassau Coliseum: report

Alibaba co-founder Joseph Tsai is in talks to buy Brooklyn’s Barclays Center and Uniondale’s Nassau Coliseum from Russian billionaire Mikhail Prokhorov. The potential deal would help Tsai later become the majority owner of the Brooklyn Nets NBA team, the New York Post reported. Tsai is already a minority owner after buying a 49 percent stake from Prokhorov for $1 billion last year. The real estate deal would give him the rights to buy the rest […]

source https://therealdeal.com/2019/04/01/alibabas-joseph-tsai-in-talks-to-buy-barclays-center-nassau-coliseum-report/

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