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In a colossal real estate move, Jay-Z and Beyoncé have purchased an extravagant vacation home in Malibu for a record-breaking $200 million, as reported by Dirt. The sale price ranks as the most ever paid for a California home and the second-most paid for a U.S. residence, behind the... View full entry
Frank Lloyd Wright's historic 1929 Westhope home has just hit the market in Oklahoma. Sage Sotheby’s has the property listed for $8 million in Tulsa, with local real estate investor Stuart Price as the seller. According to the listing, the 5-bed, 4.5-bath home is 10,405 square feet, making it... View full entry
Ownership of Manhattan’s iconic Flatiron Building is still up in the air after the surprise winning bidder at last week’s auction failed to follow through on a $19 million deposit that would have guaranteed his sole ownership of the building, which has been vacant for years. Last week, the... View full entry
Disney’s planned “Storyliving” community is gaining traction after the company released an update featuring additional details about their new Cotino project located in Rancho Mirage, 11 miles east of Palm Springs, California. As KTLA reported this weekend, the scheme will come with a host... View full entry
Looking for the ultimate artist’s flat, perhaps one owned by an internationally renowned master? Look no further than this high-floor condo in the Loft 25 building in New York’s Chelsea neighborhood. The 1,400-square-foot minimalist-minded pied-à-terre is owned by Chinese contemporary artist, documentarian, and activist Ai Weiwei. — ARTnews
As ARTnews reported, the loft was staged with Weiwei’s 1983 Dancers painting and three Marble Chair sculptures from 2008, the same year he moved to the 79-unit building located at 420 W. 25th Street in Chelsea. The 1-bed, 2-bathroom apartment features 12-foot ceilings and appliances made... View full entry
A protracted battle over control of one of New York City’s most iconic buildings will finally be settled at auction later this month. A group of developers will hash out their ownership of the Flatiron Building after a State Supreme Court judge ruled a sale could move forward on March 22 at Mannion Auctions.
The auctioneer, Matthew D. Mannion of Mannion Auctions, LLC, confirmed that the sale is public — meaning anyone can bid, and the Flatiron Building is therefore anyone’s to win.
— Hyperallergic
The city’s landmark first skyscraper, designed by Daniel Burnham and Frederick Dinkelberg has sat empty since publishing house Macmillan left the building for greener pastures of FiDi in early 2019. However, the four majority owners of the property aren’t looking to sell, according to quotes... View full entry
To say the last few months have been life-changing for Edwin Castro would be putting it mildly. In November, he bought a winning Powerball lottery ticket at a Mobil gas station in the Los Angeles suburb of Altadena. Last month, he finally claimed his record-shattering prize, taking home a $997.6 million lump sum before taxes. Less than 30 days later, he’s the proud owner of one of the flashiest new mansions in the star-studded Hollywood Hills. — Dirt
Castro purchased the mansion for $25.5 million, a discount from the property’s initial ask of $29.95 million. According to the Los Angeles Times, this is the most expensive sale in the Hollywood Hills this year and one of the neighborhood’s priciest ever. The home was built in 2022 by luxury... View full entry
Frank Lloyd Wright’s California seaside project, Mrs. Clinton Walker House, has sold for $22 million after being listed on the market in Carmel-by-the-Sea, California, according to the Wall Street Journal. The 1,400-square-foot home was completed in 1952 for a wealthy widower residing in... View full entry
Vornado Realty Trust, the developer hoping to remake the skyline around Pennsylvania Station with a bundle of new office towers, has put the brakes on the massive redevelopment plan for now as interest rates remain high and the real estate market struggles to recover from the pandemic.
Plans for the Penn site, a roughly 18 million-square-foot project that could include 10 new skyscrapers of mostly office space around the transit hub, could be delayed for at least two to three years.
— The New York Times
Despite her recent mum on the status of the $7 billion project, the Empire State Development agency said it remains confident in New York Governor Kathy Hochul’s commitment. Vornado, which owns half of the sites included in the scheme and in January was delisted from the S&P 500, reportedly... View full entry
The private home considered to be Frank Lloyd Wright’s final residential design has hit the market in Arizona for $8.95 million, according to the Robb Report and several local real estate listings. The 3,095-square-foot Norman Lykes House, also known as the "Circular Sun House," was first... View full entry
An eye-catching new landmark of an architecturally changed community is now up for grabs after designer Tomas Osinski’s Invisible House hit the market in Joshua Tree, California, for $18 million. Image courtesy Aaron Kirman Group The mirror-clad 5,490-square-foot home was completed with the help... View full entry
This month, listings appeared on multiple websites advertising the 2.5-acre property at 8150 Sunset Boulevard as being for sale. The now vacant lot, which sits at Sunset's intersection with Crescent Heights Boulevard, is the former site of the Garden of Allah, and more recently, the Lytton Savings Building. — Urbanize Los Angeles
The amended plan includes a retail center and residential tower with 38 total units of affordable housing divided into two sculptural volumes that straddle a 2.5-acre plot. Once developed, it will join Gehry’s similarly-designed Ocean Avenue Project and the 45-story The Grand LA as the... View full entry
[In] the last two years, looser regulations and the widespread adoption of remote working attracted even more people to settle in the Sunshine State. As a result, newcomers found themselves competing with those who were already hunting for apartments in the area, making Miami-Dade the hottest area for renting in the U.S. — RentCafe
Nationwide, an average of 14 people were said to be competing for each vacant apartment unit, which remained on the market for an average of 32 days. Miami-Dade County was joined by four other Florida rental markets in the top 20 despite adding a total of 34,000 new dwellings within the calendar... View full entry
One of Frank Lloyd Wright’s final Usonian designs is now on the market in central California. Real estate firm Crosby Doe Associates recently listed Wright’s Fawcett Farm in Los Banos for a cool $4.25 million and is beginning to take offers on the 7-bed, 6-bathroom home that was completed just... View full entry
This post is brought to you by MIT Center for Real Estate The MIT Master of Science in Real Estate Development (MSRED) offers an unparalleled education in real estate practice. Our groundbreaking MSRED degree presents a program that is rigorous, concentrated, multidisciplinary and geared... View full entry
