Diplomats say Manhattan property manager with history of fraud accusations misappropriated $115K

When they are not negotiating world politics, some diplomats housed at a commercial office building near the United Nations headquarters are going after a property manager who they claim fraudulently misappropriated their building funds. A condominium board representing the consulates of seven countries who own offices at 866 Second Avenue filed a lawsuit this week… Read More Diplomats say Manhattan property manager with history of fraud accusations misappropriated $115K

Mortgage giant Freddie Mac names new CEO amid privatization talks

Freddie Mac has promoted its president, David Brickman, to CEO, marking the company’s fourth leader since the financial crisis. Brickman will take over in July, replacing Donald Layton, who has been CEO since 2012 and plans to retire, according to the Wall Street Journal. Before he was named Freddie Mac’s president in September, Brickman was… Read More Mortgage giant Freddie Mac names new CEO amid privatization talks

OLR launches public listing portal to tackle “marginalization” of agents

As agents’ frustration with listings portals continue, On-Line Residential has launched a consumer-facing marketplace for residential listings. The website, dubbed Linecity, promises to give agents full control over their listings. “We’ve seen growing frustration with the digital landscape and the marginalization of the agent,” OLR President Jonathan Greenspan said in the statement. “With our deep… Read More OLR launches public listing portal to tackle “marginalization” of agents

Startup that offers alternative to home equity lending raises $122M

A startup that buys equity in homes and then offers to sell it back to residents has raised $122 million. Point, a Palo Alto-based firm, said Wednesday it raised $22 million in a Series B funding round led by Prudential Financial and DAG Ventures, according to Inman. Previous investors Bloomberg Beta, Ribbit Capital and Andreessen… Read More Startup that offers alternative to home equity lending raises $122M

Inside the other Arkansas bank that’s lending gobs of money to South Florida RE

Big real estate lenders often find themselves allaying investor concerns about a faltering market. But perhaps no one’s ever done it quite like Johnny Allison. “The reality was [as] if Peter Pan can no longer fly, Minnie Mouse left Mickey for Goofy, …  with Frankenstein piloting to take over the banking industry,” Allison, the founder… Read More Inside the other Arkansas bank that’s lending gobs of money to South Florida RE

Rough cut: How the global diamond trade shaped New York’s skyline

There are figurative cutthroat businesses, and there are literal ones. Yitzchak Tessler knows the difference. Chain-smoking in his Midtown office, he recalled his days flying from South Africa into civil war-torn Angola to buy gemstones. In the 1980s, “blood diamond” hadn’t yet become a rallying cry for human-rights groups, and traders could work in war… Read More Rough cut: How the global diamond trade shaped New York’s skyline

Startup that offers alternative to home equity lending raises $122M

A startup that buys equity in homes and then offers to sell it back to residents has raised $122 million. Point, a Palo Alto-based firm, said Wednesday it raised $22 million in a Series B funding round led by Prudential Financial and DAG Ventures, according to Inman. Previous investors Bloomberg Beta, Ribbit Capital and Andreessen… Read More Startup that offers alternative to home equity lending raises $122M

Inside the other Arkansas bank that’s lending gobs of money to South Florida RE

Big real estate lenders often find themselves allaying investor concerns about a faltering market. But perhaps no one’s ever done it quite like Johnny Allison. “The reality was [as] if Peter Pan can no longer fly, Minnie Mouse left Mickey for Goofy, …  with Frankenstein piloting to take over the banking industry,” Allison, the founder… Read More Inside the other Arkansas bank that’s lending gobs of money to South Florida RE

Rough cut: How the global diamond trade shaped New York’s skyline

There are figurative cutthroat businesses, and there are literal ones. Yitzchak Tessler knows the difference. Chain-smoking in his Midtown office, he recalled his days flying from South Africa into civil war-torn Angola to buy gemstones. In the 1980s, “blood diamond” hadn’t yet become a rallying cry for human-rights groups, and traders could work in war… Read More Rough cut: How the global diamond trade shaped New York’s skyline