The $15 billion title insurance industry has major innovation coming its way. A regulator in California announced on Tuesday that it had approved States Title Inc., a startup title insurer focused on tech, to operate in the state, according to Bloomberg. Dave Jones, the state’s insurance commissioner, said new technology and more competition would help… Read More Fintech is coming for the title industry
Keller Williams will join eXp Realty and Real in launching virtual brokerages in every U.S. state to connect brokers looking to expand outside of their own markets. The new virtual brokerage will be available in the company’s 166 expansion businesses, representing 509 locations and 3,433 real estate agents, according to an Inman report. The so-called… Read More Keller Williams joins eXp Realty and Real in virtual brokerage game
Those with demands for an affordable residential home priced at $500 a square foot or less in New York City may be pleased to know that such homes exist, but the pickings are largely limited to Staten Island and the Bronx. In Manhattan, save for Harlem’s 10032 postcode, there are no homes valued at less… Read More A $500 psf home in New York? Here’s where to find it
The owners of a marble-lined luxury condominium in Trump Parc have racked up a property tax bill exceeding $100,000. The sprawling home, a 10 bedroom fit-out on the 21st floor of the 37-story building at 106 Central Park South with a separate apartment that was converted into a gym, was bought in 2013 for $14.25… Read More Trump Parc condo owners owe over $100K in unpaid bills
In spring of 2017, Pamela Goldstein spotted a $599,000 listing for a Colonial-style four-bedroom home in the Hartsdale section of Greenburgh. She contacted the listing agent, Gino Bello at Houlihan Lawrence, and quickly received a message from Daniel Cezimbra, another agent at Houlihan Lawrence. Cezimbra accompanied her to the house showing and warned Goldstein of… Read More Dual agency dispute serves as a warning sign for brokers
Jerome Avenue, the roughly 7-mile thoroughfare running from the south end to the north end of the Bronx, has long been home to a lengthy stretch of auto shops and other low-scale commercial buildings. But if a recently passed rezoning takes off, it could soon become better known for a slew of residential high-rise projects.… Read More The Bronx is turning
Australia-based construction giant Lendlease has co-launched a multifamily investment fund to create a $2 billion portfolio in the U.S. The company and its partner, Australian superannuation fund First State Super, each contributed $500 million in equity to the investment vehicle, the companies announced Wednesday. They plan to create a $2 billion portfolio that includes properties… Read More Lendlease launches $2B multifamily fund
Former Eastern Consolidated brokers Brian Ezratty and Ron Solarz have landed at Newmark Knight Frank, where they’ll head up the brokerage’s new private client group. Newmark president James Kuhn said that Ezratty and Solarz would help the company’s national expansion. Ezratty will join as vice chairman and Solarz will have the title of executive managing… Read More Brian Ezratty and Ron Solarz join Newmark Knight Frank
Compass is closing in on a blockbuster deal to buy Pacific Union International Realty, one of the largest brokerages on the West Coast, with $14 billion in sales last year. Pacific Union’s senior leadership was notified Monday about the acquisition; a public announcement is expected on Thursday, sources confirmed. The deal was first reported by… Read More Compass to acquire one of the West Coast’s largest resi brokerages in blockbuster deal
Brookfield Property Partners is wasting no time with its plan to turn around General Growth Properties, the massive shopping mall real estate investment trust it bought for $14.8 billion last month. Toronto-based Brookfield plans to expand GGP’s best performing malls with additional stores, and repurpose poorly performing malls by adding housing, office space or hotels,… Read More Brookfield’s plan for GGP: Add housing, office, hotels to underperforming malls
