• Real Estate Investing,  Travel & Lifestyle

    Fredrik Eklund talks LA condos, the mega-luxury market and patience

    Fredrik Eklund (Credit: Getty Images) “Million Dollar Listings” star broker and recent Los Angeles transplant Fredrik Eklund says condominiums are the new wave in his new West Coast home, where mansions in the hills have been the default in the luxury stratosphere. The Douglas Elliman broker told Mansion Global that new projects in L.A.’s tony neighborhoods like Beverly Hills are presenting new options for buyers. Eklund is selling units at the recently built 8899 Beverly building. 8899 Beverly “Vertical living didn’t used to be something people understood there,” Eklund said. “The whole idea of making a decision before a building was done, and having sales galleries before the home could…

  • Real Estate Investing,  Travel & Lifestyle

    These small US cities have exploding luxury markets

    Boise, Idaho (Credit: iStock) The shift from the nation’s top markets to secondary markets is accelerating. Coldwell Banker’s “State of Luxury 2020” report picked out several secondary markets to watch alongside some larger markets that still have room to grow, according to Inman. The top markets to watch are Boise, Idaho; Charlotte, North Carolina; Colorado Springs, Colorado; Cincinnati, Ohio; and Fort Worth, Texas. The list was based on an analysis of job and population growth against sales-price-to-list-price ratios, days on market, median list price, and inventory. Secondary cities can be attractive to homebuyers for a number of reasons. They’re attractive for buyers who want to live in an urban environment…

  • Real Estate Investing,  Travel & Lifestyle

    Lead gen 2.0: RE/MAX app will go through agent contact lists to predict sellers

    RE/MAX CEO Adam Contos (Credit: Facebook, iStock) RE/MAX Holdings is taking its latest lead generation play to the robots. The company will launch a machine-learning app exclusive to its agents on Monday that uses machine-learning to comb through agents’ pre-existing contact lists and predict who is most likely to sell their home — and tells agents when they should reach out. RE/MAX announced the app on its fourth quarter earnings call Friday. “Agents are losing patience on just ‘buying leads,’” said RE/MAX CEO Adam Contos during the call. “In many cases, they have the leads they need.” RE/MAX CFO Karri Callahan Agents will have to pay a $49 monthly subscription…

  • Real Estate Investing,  Travel & Lifestyle

    Post-WeWork debacle, SoftBank will map out strategy to investors

    Softbank CEO Masayoshi Son and Elliott Management Corp. CEO Paul Singer (Credit: Getty Images) SoftBank CEO Masayoshi Son will map out the company’s strategy at a New York investor meeting for the first time since WeWork’s implosion led to another huge investment in the co-working firm. Elliott Management Corp., among others, will be waiting. The activist investor called for a buyback of as much as $20 billion of the Japanese technology conglomerate’s shares, Bloomberg reported. But Son said there was “no rush,” and that he would like to sell as little as possible. The March 2 investor meeting is being facilitated by Goldman Sachs, and Elliott will be a topic…

  • Real Estate Investing,  Travel & Lifestyle

    Developer Carl Panattoni drops $29M on Palm Beach estate

    Carl Panattoni, Raymond G. Perelman and 965 North Ocean Boulevard in Palm Beach (Credit: Panattoni, PennToday, and Google Maps) Developer Carl Panattoni paid $28.57 million for an oceanfront Palm Beach estate, property records reveal. The Perelman family trust, previously controlled by the late Raymond G. Perelman, sold the five-bedroom, 7,705-square-foot home at 965 North Ocean Boulevard. The price comes out to about $3,700 per square foot. The deal is the most expensive residential sale to close so far this year in Palm Beach. Perelman, who died in May, was founder, chairman and CEO of RGP Holdings, a private holding company composed of a vast array of manufacturing, mining, and financial…

  • Real Estate Investing,  Travel & Lifestyle

    Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M

    Kevin R. Kreutzfeld of Premier Estate Properties and 1408 West Lake Drive A new waterfront house in Fort Lauderdale’s Harbor Beach sold for $10.9 million, marking the second luxury home sale this week in the upscale neighborhood. A company managed by Leslie Melamed of Delray Beach sold the 7,653-square-foot estate at 1408 West Lake Drive for $1,424 per square foot, records show. Albert Lepage bought the house. Lake Worth-based Wightman Construction completed the home in 2019. It has six bedrooms, eight bathrooms and features a master suite with lounge fireplace, a spa-like bath and a private waterfront terrace. It also has an entertainment club room with a sky deck, a…

  • Real Estate Investing,  Travel & Lifestyle

    CrowdStreet hits $1B milestone, crowdfunding firm claims

    CrowdStreet CEO Tore Steen (Credit: iStock) CrowdStreet said it has raised over $1 billion for commercial real estate deals through its online crowdfunding platform. The milestone comes as the crowdfunding industry continues to mature, with some startups falling away and others facing troubles with underperforming assets. Crowdstreet offers several tools to allow people to invest in commercial real estate, an industry that historically requires deep pockets to get into. CrowdStreet’s online marketplace launched in 2014, and the Oregon-based firms says it has over 80,000 investors and 193 operators and developers that have used it. In 2019, the company raised over $500 million for 111 offerings, it said. One of the…

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    Fontainebleau Miami Beach reveals proposed addition

    Jeffrey Soffer and Fontainebleau Miami Beach Jeffrey Soffer wants to build a new garage at Fontainebleau Miami Beach, with top-floor ballrooms. The proposed garage will be strictly for employees, which means hotel guests will continue to valet at the entrance of the storied resort. Miami Beach’s land use committee on Thursday recommended the project after hearing details about the new structure, which would be built on an existing surface employee lot on Collins Avenue between 43rd and 44th streets. The new building would connect to the existing hotel property via an elevated pedestrian bridge 27 feet above the street. The garage, which went from having 500 spaces to 400 spaces,…

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    Netflix’s “Dirty Money” series delves Jared Kushner, 1MDB scandal

    Jared Kushner and Jho Low (Credit: Getty Images) Two years ago, the Netflix documentary series “Dirty Money” trained its sights on Donald Trump in an episode it called “The Confidence Man.” This time around, it’s staying in the real estate world and in the family. The show will devote an episode of its second season to Jared Kushner, President Trump’s son-in-law and former CEO of Kushner Companies, according to the Hollywood Reporter. “Dirty Money” will also look into the 1MDB scandal. Federal authorities say Malaysian financier and current fugitive Jho Low, and his associates, used money from a Malaysian sovereign wealth fund to buy more than $1.7 billion worth of…

  • Real Estate Investing,  Travel & Lifestyle

    Keller Williams reports sales bump with fewer agents in 2019

    Keller Williams’ Josh Team (Credit: Keller Williams) After purging its roster of non-performing agents, Keller Williams said its 2019 sales volume rose 5.7 percent despite the lower headcount. The Gary Keller-led company, which is the largest franchise brokerage in the U.S., said agents closed more than 1.13 million transactions in 2019, up 3.4 percent year-over-year. Sales volume rose to $351.2 billion, up from $332.4 billion in 2018. But as of Dec. 31, 2019, Keller Williams said it had 169,317 agents worldwide. In the U.S. and Canada, its roster of agents totaled 159,372, slightly lower than the 159,447 agents it had as of Jan. 31, 2019. Austin-based Keller Williams reported its…