real estate

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Brangelina Shop NYC Digs
 Brangelina Shop NYC Digs 
Jul 12, 2009 11:27 AM CDT

Brangelina Shop NYC Digs

Hollywood royalty looking to spend $25M for Upper West Side condo

(Newser) - Tired of renting when in the Big Apple, Brad Pitt and Angelina Jolie just want a place of their own, the New York Daily News reports. The power duo has been quietly checking out the Apthorp, a historic Upper West Side landmark, and is ready to spend as much as...

Congress Weighs Wider Home Tax Credit

$8K for first-time buyers may jump to $15K, apply to all sales

(Newser) - With the tax credit for first-time homebuyers set to expire in November, congressional efforts to increase it and broaden its reach are ramping up, reports USA Today. Chris Dodd, who leads the Senate Banking Committee, supports a proposal to raise the credit to $15,000 and extend it to all...

Hamptons Grim, But Not Dead
 Hamptons Grim, But Not Dead 
GLOSSIES
Jun 9, 2009 3:57 PM CDT

Hamptons Grim, But Not Dead

(Newser) - The Hamptons are not a happy place these days, Michael Shnayerson writes in a Vanity Fair piece detailing fortunes destroyed, plans dashed, homes selling for bargain basement prices. The stink of the financial crisis in general, and Bernard Madoff especially, has descended on the oceanfront playground of New York’s...

Starbucks Looks to Cut Back on Rent
Starbucks
Looks to Cut Back on Rent
May 29, 2009 2:42 PM CDT

Starbucks Looks to Cut Back on Rent

Coffee chain presses landlords for 20%-25% reductions

(Newser) - Starbucks is asking some of its landlords for a venti favor: lower lease rates by as much as 25%, Bloomberg reports. With the real-estate market in decline, a rep says, “We’re taking advantage of the opportunity,” adding that most landlords foresee a “mutually beneficial situation.”...

'Bueller? Bueller?' Film House Hits Market

(Newser) - The Chicago-area house immortalized in a glass-breaking, Ferrari-plunging shot from Ferris Bueller’s Day Off is for sale, the Arlington Heights Daily Herald reports. “It’s spectacular inside,” said the realtor offering the glass-walled modern home at $2.3 million. “It’s like living in a tree...

Realtors Sue CSI Over Kinky Portrayal

Real estate agents allege producer defamed them in episode

(Newser) - Scott and Melinda Tamkin are your average married real estate agents. Unless you watch CSI, in which they are conniving, kinky-sex-loving real estate agents. The couple is suing the producer of a February episode they say is based on a warped version of them, the Los Angeles Times reports. The...

Investors Storm Housing Market

Aim to take advantage of current low prices

(Newser) - Investors are snatching up cheap houses, hoping to turn a profit when the market picks up, the Wall Street Journal reports. Some are foraging far and wide for potential purchases; others are locals who know the ins and outs of the area market. Investors often make all-cash offers, helping them...

Lehman Weighs Spinning Off $45B in Assets

In the most sweeping bankruptcy action yet, assets will become separate unit

(Newser) - Bankrupt Lehman Brothers is preparing to spin off a grab-bag of assets worth $45 billion in their current state but as much as $400 billion at "nondistressed" prices, the Wall Street Journal reports. The planned sale of shares in the unit—the biggest move yet to unwind the...

Today's Bargain: Australia's Islands

(Newser) - No man is an island—but now is the time for him to own one. Australia’s ritzy Queensland island resorts are going for bargain prices, but between the recession, a slew of natural disasters, and a nasty oil spill, no one’s biting, reports the Telegraph. Dunk Island is...

Faux Owners Dress Up Luxury Homes for Sale

Rewards await those who can make an empty house look like a million dollars lives there

(Newser) - The slump at the top of the property market has been a bonus for people who can make a mansion look like a happy home but can't afford one of their own, reports the Wall Street Journal. Realtors stuck with empty luxury homes have been seeking the services of resident...

As Bank Moratoriums End, Foreclosures Surge

(Newser) - As internal bank moratoriums on foreclosure imposed last year expire, many more Americans are losing their homes, the Wall Street Journal reports. Foreclosure proceedings were up 6% in February over January, and up 30% from March 2008. Just as the Obama administration's rescue plan kicks in, delinquents who don’t...

Madonna Drops $40M on NYC Townhouse
Madonna Drops $40M on NYC Townhouse
Apr 14, 2009 1:31 PM CDT

Madonna Drops $40M on NYC Townhouse

Material Mom might be putting off promised move to Malawi

(Newser) - Madonna may be sending her moving van(s) to the Upper East Side of Manhattan rather than Malawi, reports the New York Post. The singer is plunking down $40 million for a Georgian-style townhouse. That’s $5 million less than the asking price, but hardly a bargain; no residence in the...

Your Neighborhood Realtor: 'I'm Really, Really Sorry'

(Newser) - Erica Ferencik can’t stand the guilt anymore. “I am the reason the world is in an economic tailspin,” she writes in Salon. “I'm your neighborhood real estate agent, and I'm really, really sorry.” When Ferencik got into real estate 9 years ago, she found herself...

Crashed Market Opens Doors for New Homeowners

Foreclosed homes affordable to middle-class families

(Newser) - Since the real estate market collapsed, buying a home has become possible for middle-class families for whom it was previously out of reach, the New York Times reports. Taina Goldman, a Miami nurse, recently paid $187,000 for a house worth $370,000 three years ago. And she’s not...

Gonzo Blogger Exposes SoCal Housing Market

Jim Klinge's unrestrained criticism of real estate practices brings him buyers

(Newser) - With “transparency” a political mantra and the housing market an unqualified mess, one real-estate broker is seeking unfettered truth, the Los Angeles Times reports. Armed with a video camera, blogger Jim Klinge is chronicling California’s real-estate crash, sparing no broker’s feelings with scathing appraisals not just of...

Hef Party Pad Up for Sale at $28M
Hef Party Pad
Up for Sale at $28M
Mar 29, 2009 5:45 AM CDT

Hef Party Pad Up for Sale at $28M

Original playboy downsizes as sons head to college

(Newser) - Octogenarian player Hugh Hefner and wife, Kimberly, have put their plush pad next to the Playboy Mansion up for sale for $28 million, reports the Los Angeles Times. The "sister party house" is a 7300-square-foot English Manor-style home. It features a hand-carved staircase, leaded windows, five bedrooms, seven bathrooms,...

Spelling's $150M Mansion Is Priciest US Home for Sale

(Newser) - The mansion that late producer Aaron Spelling built in 1991 is on sale for $150 million, making it the most expensive home for sale in the US, the AP reports. The 56,500-square-foot home, the largest in Los Angeles County, sits on 4.7 acres near the Playboy Mansion. Neither...

Recession a Long-Term Bummer for SoCal, Dude

(Newser) - The recession hit Southern California earlier and harder than almost any other part of the country—and it’s likely to linger a lot longer too, Steve Pearlstein writes in the Washington Post. The area played a “central role in the Bubble Economy,” and now, being the “...

Playgrounds of Rich and Famous Hit the Skids

What would Jay Gatsby say?

(Newser) - Even crème de la crème communities are curdling in the current crisis, reports the Telegraph. Take the Hamptons, where nearly as many homes were being foreclosed last week as the number of places sold. Residents in the super-affluent towns on Long Island's east end are struggling to meet...

Times Co. Sells HQ for $225M
 Times Co. Sells HQ for $225M 
Mar 9, 2009 8:51 AM CDT

Times Co. Sells HQ for $225M

Debt-laden paper enters sale-leaseback with investment firm

(Newser) - The New York Times Company has raised $225 million through a sale-leaseback of its Eighth Avenue skyscraper, it announced this morning. The deal gives investment firm WP Carey ownership of the Times' share of the Renzo Piano-designed headquarters, which the newspaper moved into in 2007. The company will then lease...

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