Treasury issues new LLC disclosure law

The Treasury Department has re-upped rules meant to crack down on money laundering in real estate — but don’t ask Uncle Sam for details. The Financial Crimes Enforcement Network (FinCEN) has released another set of rules requiring title companies to disclose the identity of all-cash buyers who purchase luxury property under the guise of an[…]

Resi firms descend on remnants of Town

Within hours of the demise of Town Residential‘s sales and leasing divisions on Thursday, the text messages and emails started flying. With several hundred brokers suddenly free agents, Town’s rivals wasted no time swooping in to lay claim on remnants of the carcass. One senior brokerage executive compared the phenomenon to locusts descending. “I’ve never[…]

These are the architecture shops behind some of NYC’s biggest starchitects

As developers increasingly bring on international architecture stars to design their projects, another firm often works with them behind the scenes. Those firms, which assume the role of “executive architect,” are often more familiar with the city’s zoning and construction codes and help starchitects with everything from filing paperwork to designing floorplates. Related: Who’s designing[…]

Real estate industry is still wary about blockchain and cryptocurrencies

Entrepreneur William Skelley co-founded iFunding, an investment platform that helped pioneer real estate crowdfunding, in 2012. But the company quietly shuttered last year, while several other crowdfunding startups also fizzled. Now Skelley is trying to shake up real estate finance again, but this time he’s betting on something else: blockchain — electronic records that are encrypted[…]

Beacons pick up where GPS stops: mining data inside buildings 

“Location, location, location” isn’t just the real estate industry’s mantra. Google Maps and Uber don’t work unless they know where users are. GPS “is a critical element of digital services in our lives outside of work,” said Chris Kelly, co-founder of the tech-focused office services firm Convene. “There’s just one problem with GPS: It can’t see[…]

While the construction industry eats up virtual reality, the tech has been slow to penetrate the leasing market

About six months ago, a team of architects at Perkins+Will met with executives from a major health care company to discuss the design of new medical exam rooms. The architects suggested a tweak to the planned design, but the client balked. Historically, that interaction would likely have ended with the architects going back to the drawing[…]