Toll Brothers eyes $324M sellout at 77 Charlton

Toll Brothers City Living is aiming to sell $323.5 million worth of apartments at 77 Charlton Street, its forthcoming condominium project in Hudson Square. The luxury homebuilder officially filed plans for a 161-unit development with the New York state Attorney General’s office, records show. The average price per unit works out to just over $2[…]

Here’s how much money Howard Lorber made in 2017

Douglas Elliman chief Howard Lorber earned $10.6 million last year — a modest drop following a year in which the residential brokerage struggled with profitability. Lorber’s haul included a base salary of $3.198 million, plus a $3.157 million bonus. His total compensation dropped $425,000 from 2016, when he pocketed $11.059 million, according to a proxy[…]

Discount brokerage Purplebricks slapped on wrist for misleading ads

Purplebricks, the rapidly-growing flat-fee brokerage, has been slapped on the wrist by an Australian consumer agency over misleading advertising that promises “low, fixed fees.” The U.K.-based company, which launched in the U.S. six months ago, was fined nearly $16,000 for ads deemed to be misleading to consumers. The Queensland Office of Fair Trading said the[…]

Redfin revenue soars, but profits are elusive

Redfin narrowed its losses in 2017, but profits remained elusive, the company reported Thursday. The Seattle-based brokerage lost $15 million for the full year, a 33 percent drop from 2016’s loss of $22.5 million. Its 2017 revenue rose 38 percent year over year to $370 million. During the fourth quarter, Redfin’s revenue rose 43 percent[…]