British pop star Robbie Williams and his wife, Ayda Fields, aim to sell their English country estate in a strong market for the stately properties. The couple is asking £6.75 million, or $9.2 million, for the 72-acre property in Compton Bassett, Wiltshire, according to Mansion Global. The estate has its roots in the mid-1500s, when an English politician bought the property and its manor house from the royal family. Another home was built a century
Pennsylvania town offers big incentive for people to fix homes
In an attempt to reverse decades of economic decay and attract investment, a city outside Pittsburgh is dangling a major incentive on its vacant homes. Monessen Mayor Matt Shorraw said his administration will wipe out back taxes on properties if a new owner commits to cleaning them up and renovating, according to the Wall Street Journal. The Pennsylvania city has so far managed to find owners — about half of whom are investors — for
Home prices in cities across Asia-Pacific shot up in the past year
Home prices in more than a half-dozen major cities across Asia Pacific, including Beijing, Auckland and Tokyo, jumped up by double-digit percentiles over the last year. Cheap mortgages and strong demand are driving up prices, much as in the U.S. and around the globe, according to CNBC. Topping the list was Auckland, New Zealand, where prices surged 25 percent in June from a year ago. New Zealand considered to be at high risk of a
Barb Ellison, ex-wife of Larry, lists 200-acre equestrian ranch for $20M
Larry Ellison’s ex-wife Barb Ellison aims to sell her 200-acre horse farm in Oregon. Ellison is asking $19.5 million for the property, known as Wild Turkey Farm, according to the Wall Street Journal. It is about 16 miles south of Portland. Ellison breeds horses at the ranch, where she has lived since completing the 10,000-square-foot main house in 2011. The property includes a 2,500-square-foot guest house and a number of equestrian facilities that she had
Private club goes public: Soho House IPO raises $420M
The owner of a network of members’ clubs built on exclusivity is offering up its stock to the masses. Membership Collective Group, parent company of the Soho House chain of private clubs, raised $420 million in an initial public offering of 30 million shares Wednesday. The shares sold at $14 each, the low end of an expected $14 to $16 range, according to Bloomberg. The IPO values the company at around $2.8 billion. Based in
2 Hong Kong resi towers to be demolished over defects
New World Development Company will demolish two residential towers at its popular Pavilia Farm complex in Hong Kong over construction defects. The developer announced it would tear down and rebuild blocks 1 and 8 at Pavilia Farm III, according to Bloomberg. The company said that some concrete sections of the buildings were weak and did not meet design requirements. The move comes after the June 24 partial collapse of Champlain Towers South condo development near
Jeffrey Epstein’s 8K-acre New Mexico ranch hits market
A massive New Mexico ranch that had belonged to the late convicted sex offender Jeffrey Epstein is hitting the market for $27.5 million. The 8,000-acre Zorro Ranch outside Santa Fe includes several homes and a private airstrip, according to the Wall Street Journal. The main house spans 30,000 square feet. Epstein killed himself in a Manhattan jail in 2019 while facing sex trafficking charges. Earlier this year two other properties Epstein had owned were sold.
UK hospitality employers could cut half a million jobs
Britain’s largest hotel lobby warned that employers may cut half a million jobs when the government ends its wage support program. A representative for UK Hospitality told Parliament on Monday that its members owe around $132 million in back taxes and owe landlords roughly $5.1 billion, according to Bloomberg News. The government’s furlough program has helped draw investment to the United Kingdom’s pub and bar sector. “All it takes is one landlord to be recalcitrant
Hong Kong sells Causeway Bay site for $2.5B
The Hong Kong government auctioned a parcel of land in Causeway Bay this week for the first time since 1997, and it sold for much more than expected. Hysan Development Co. and Chinachem Group paid the equivalent of $2.5 billion for the 159,330-square-foot property, according to Bloomberg. Midland IC&I most recently valued the property on Caroline Hill Road at around $1.9 billion. The land would yield about 1.1 million square feet of buildable space. The
Former Venezuelan oil exec sentenced in $1B money laundering scheme
A former executive with Venezuela’s state-run oil company was sentenced to two years and four months in prison in connection with an alleged $1.2 billion money laundering scheme linked to South Florida real estate. Abraham Edgardo Ortega, who was executive director of financial planning at PDVSA, admitted he accepted more than $12 million in bribes for his role, which allowed other Venezuelans who were charged to embezzle from the company, the Miami Herald reported. Prosecutors
JLL explores sale of China property management wing
JLL is considering offloading one of its global businesses. The Chicago-based firm is exploring a sale of its China property management business, which is estimated to be worth at least $500 million, Bloomberg News reported. JLL is working with an advisor on the potential sale, which would not include its brokerage or valuation business in the country. The potential sale has drawn some interest from other property management firms and investors, according to the report.
Overheated? DC-area fixer-upper gets 88 offers — 76 all-cash
For the latest evidence of a surging suburban sales market, look just outside Washington, D.C. There, a serious fixer-upper sold for 70 percent above its appraisal after receiving 88 offers — 76 all-cash, according to the New York Post. A buyer closed on the four-bedroom home in Silver Spring, Maryland, for $460,000, well above the $275,000 court-mandated appraisal that followed the owner’s death, according to the report. With home prices peaking in the area, the
Phat flat: Hedge funder nears deal for $153M London penthouse
Hedge fund billionaire Suneil Setiya is said to be in talks to buy a massive London penthouse for around $153 million. The 14,000-square-foot unit that the Quadrature Capital founder is eyeing is located in the luxury residential complex known as One Hyde Park, according to Bloomberg. The unit has no internal walls and is completely unfinished, making its price tag all the more jaw-dropping. The deal would be one of the priciest residential sales to
Return of the retailer: Century 21 relaunches
Attention shoppers: Century 21 is coming back. The New York-based discount retail chain that built a loyal following but folded after declaring bankruptcy in September, announced its planned return last week. In a statement on Tuesday, Century 21 Stores said the decision to relaunch came “in response to the outpouring of love from the Big Apple and the admiration” of their “loyal shoppers from around the world.” The announcement was light on details, but the
German designers roll out weatherproof shelter pods
A group in Germany has come up with a novel way to provide emergency shelter to people experiencing homelessness in their city. A six-person team in Ulm has designed wood and steel “pods” that are relatively cheap to build, waterproof and windproof, the BBC reported. The shelters, called Ulmer Nests, are in their second year of trials. The team conceived of the idea in 2018 and tested out its first pods last winter. They’re designed
Here’s a look at Rob Gronkowski’s Miami condo ahead of Super Bowl LV
Tampa Bay Buccaneers tight end Rob Gronkowski will have his lofty Miami condo to go home to following Super Bowl LV this weekend. Gronkowski, known as The Gronk, paid $1.7 million in 2019 for the four-bedroom, 3,850-square-foot unit at Marquis, a downtown Miami condo tower at 1100 Biscayne Boulevard. After he retired from the New England Patriots, Gronkowski joined his then-former teammate, Tom Brady, in Tampa last year. Less than a week after Gronkowski announced
Ready players: 5M-sf e-sports complex rises in Shanghai
A nearly 5.4-million-square-foot e-sports complex will be built in Shanghai, meant to solidify the city as the center of the competitive gaming industry. Work has begun on the Shanghai International New Cultural and Creative E-Sports Center, expected to cost nearly $900 million, according to CNBC. “E-sports” refers to both competitive video games and the wider industry that’s emerged around them. That industry generated about $1.1 billion last year, according to games market research firm Newzoo,
Windsurfing legend lists expansive Hawaii estate for $18M
Windsurfing legend Robby Naish has listed his huge Hawaii compound for $18 million. The 73-acre property sits on the north shore of Maui and spans a half mile of coastline, according to the Los Angeles Times. The main 6,000-square-foot house sits at the end of a palm tree–lined drive. The house, finished with koa wood accents, is modern and has a large open living room that opens to the pool out back. The five-bedroom, 4.5-bathroom
WNBA star Candace Parker buys $4M Los Angeles farmhouse
Basketball superstar Candace Parker is making real estate moves: Variety reported that the Los Angeles Sparks forward has purchased a $4 million modern farmhouse in the Tarzana area of Los Angeles’ San Fernando Valley. The two-time MVP of the WNBA previously owned a home in Encino with her ex-husband, former NBA player Shelden Williams. The couple sold that home for $3.8 million in 2018, according to the publication. Parker’s new 6,300-square-foot home, built on spec,
Real estate agents turn to influencers to help sell a lifestyle — and apartments
It takes a bit more work to move residential units in New York City these days and agents are upping their marketing game on social media. Some prospective buyers could be hesitant to see units in person unless it jumps out at them amid the pandemic, according to Bloomberg News. Agents are looking to get eyeballs on units where potential buyers spend a lot of their time. Enter the social media influencer. “We’re seeing that
Feds put Neoclassical architecture policy into practice
President Donald Trump never implemented a proposed measure that would have effectively banned new federal buildings from being constructed in the modern style, but one government agency has put its policy into practice anyway. In at least two instances, the General Services Administration has echoed language that appeared in Trump’s “Making Federal Buildings Beautiful Again” draft executive order, Bloomberg Citylab reported. Had it been carried out, the order would have made “classical architectural style” —
$62M estate is Santa Barbara’s most expensive home for sale
A picturesque 13-acre estate owned by the late actor Stuart Whitman has just hit the market for $62 million, making it the most expensive property currently listed in Santa Barbara, the L.A. Times reported. According to the paper, the second-priciest home in Santa Barbara county is the nine-acre compound owned by Ellen DeGeneres and her wife, Portia de Rossi. The couple listed their home in October for $40 million. Whitman owned the ranch, which is
Durst’s $2B Philly waterfront redevelopment project approved
The Durst Organization’s $2.2 billion riverfront redevelopment plan in Philadelphia has beaten out a competing proposal by the Philadelphia 76ers to build a new stadium. The Delaware River Waterfront Corporation approved Durst’s 12-tower project on the Penn’s Landing property, according to the Philadelphia Inquirer. The Durst redevelopment project includes a total 3.5 million square feet of new mixed-use space. The north site will include 1,800 residential units and 94,000 square feet of office space. It
World’s last Blockbuster for rent on Airbnb
The last remaining Blockbuster video store in the world is getting a new lease on life. Airbnb is turning the Bend, Oregon, store into a nostalgia-themed rental, according to NBC News. It is listed for three one-night stays in September for the low cost of $4 — a penny more than the video store’s rental fee. The store will be stocked with “all the movies your heart could desire,” according to a
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