The U.S. housing market, along with other segments of the economy, may already be in a recession because the Federal Reserve has not been aggressive enough cutting interest rates, Treasury Secretary Scott Bessent said Sunday. “I think that we are in good shape, but I think that there are sectors of the economy that are … Read more
New Jersey may be stereotyped from “The Jersey Shore” reality show, and often it’s been the butt of jokes, but it’s no joke when it comes to owning real estate in the Garden State. In certain parts of the state, there are hot spots where home prices continue to increase as demand grows. Interest in … Read more
Namdar Group scored $460 million in cross-collateralized bridge and construction loans for its nearly 1,400-unit, two-tower apartment project in downtown Miami. The deal comes amid continuing lending in South Florida, despite higher interest rates and other economic headwinds. Great Neck, New York-based Namdar is developing Phase I with a 43-story, 680-unit tower at 55 Northeast … Read more
The lure of luxury is stretching beyond the borders of the United States as more and more Americans are looking abroad for upscale real estate investments—and its driving developers to tap into the market. As the saying goes, “Build it, and they will come.” This has proven to be the case in Dubai, where branded … Read more
Architect Chad Oppenheim found a buyer for his waterfront Miami Beach home that’s asking nearly $27 million. The deal is one of 10 contracts signed in Miami-Dade County between Oct. 27 and Nov. 2, according to the latest Eklund-Gomes report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade that … Read more
Barstool Sports founder Dave Portnoy has threatened to move the company’s headquarters out of New York City if Democratic socialist Zohran Mamdani claims victory in the mayoral election on Nov. 4. Portnoy, 48, who has an estimated net worth of around $250 million, founded Barstool Sports in 2003 in his home state of Massachusetts; however, … Read more
ScandyCandy, La Coqueta | Palm Beach The Royal Poinciana Plaza in Palm Beach scored two new tenants. Swedish candy store ScandyCandy opened on Saturday, and British childrenswear boutique La Coqueta opened last month at The Current, a retail hub at The Royal Poinciana Plaza, according to the landlord’s news releases. ScandyCandy, created by brothers Calle … Read more
Scott Sherman still remembers when landlords could get top dollar asking rents for retail and restaurant spaces on Lincoln Road, the outdoor pedestrian mall in Miami Beach. “Eight years ago, rents got ridiculous,” Sherman, who leads Miami-based Torose Equities, told The Real Deal. “They went from $150 to $300-plus a foot. Restaurants fled, national brands … Read more
In the gold rush that is real estate development in West Palm Beach, nothing is more valuable than the dirt on waterfront Flagler Drive. But there is no vacant land left for sale. Aging condos inhabit the remaining development sites, their boards controlled by unit owners with differing opinions on the fate of their tropical … Read more
November brings big changes for some of The Real Deal’s markets. New York City begins saying goodbye to Mayor Eric Adams, who dropped his reelection bid in September after months of trailing in the polls. In the final stretch of the mayoral election, Democratic nominee and frontrunner Zohran Mamdani made his case to business crowds, … Read more