News about properties and real estate
Ynetnews – Money – Tshuva buys 3 Florida neighborhoods
Elad paid a total of USD 91 million for the three neighborhoods, which contain 476 housing units, Israel’s leading newspaper Yedioth Ahronoth reported Wednesday.
The neighborhoods, constructed during the 1980s, are located at the town of Boca Raton near Miami. Elad plans to convert the housing units, which up until recently were rented out to families, into apartments for sale.
New housing, shopping eyed for South Loop
Developers have long-term goals for up to 2,000 new housing units, a shopping center and a 16-screen movie theater in the South Loop, according to insiders who have seen plans drafted for community groups.
The property runs northwest of Roosevelt and Clark, site of a Target store. The vacant parcels are divided among several interests, including Concord Homes, Amli Residential, Centrum Properties and the construction firm Walsh Group.
Appraiser’s role offers unique view of market
How has the steady stream of news reports about home values and inventories impacted the real estate market?
I believe they have had a significant impact on non-real estate professionals.
These folks have been caught up in the hype about “skyrocketing” values. As the news comes out, people start comparing their homes against what appears in the paper. The paper may give one lone example, but that example is now the basis for comparison: “Well if that house is worth $$$, then mine must be worth even more.”
Real Estate Deals Pay Off for Insiders
In one case, a charity sold property earmarked for low-income housing to a group with which it had ties. The land was then flipped for a $1.1-million gain.
The insider deal is one example of how leaders of the UFW and the groups they call the Farm Worker Movement have steered money to friends and relatives at the expense of the charities they serve.
Developer reveals plan to buy Briny Breezes
Ocean Land Investments of Boca Raton is the mysterious developer that has offered to pay $500 million for the entire town of Briny Breezes, a quaint mobile home park in southern Palm Beach County, company officials said Monday.
The unprecedented offer would make the park’s 488 mobile home owners instant millionaires and set a Palm Beach County record for a residential land sale.
$40 Million Buys Ex-Cabby His Own Corner of 5th Avenue
A former cabdriver who struck it rich in Russian oil and went on to invest in Manhattan real estate has signed a contract to buy a Fifth Avenue mansion for $40 million.
The price for the 1901 Beaux-Arts confection on the corner of 82nd Street opposite the Metropolitan Museum of Art is the highest ever paid for a Manhattan town house, though it is less than the original asking price of $50 million.