Westchester & Fairfield Cheat Sheet: High demand and low inventory define Hudson Valley resi market, Greenwich firm buys 300 acres of Fishkill IBM campus … & more

Hudson Valley’s residential market sees low inventory and high demand The summer residential real estate market in Hudson Valley saw high demand from buyers. However, low housing inventory led some homebuyers to desperate measures, including sending flowers and candy to sellers, LoHud reported. “It was extremely busy, unlike any summer market I’ve ever experienced before,” Kenyatta Jones-Arietta,[…]

Westchester & Fairfield Cheat Sheet: Home sales are up by 12.7% in Connecticut, Ardsley chemical plant sells to environmental liability firm for $1.85M … & more

Single-family home sales are on the rise in Connecticut Home sales increased by 12.7 percent in Connecticut from July 2016 to July 2017, according to data from real estate and financial information firm the Warren Group. Statewide, 3,641 homes were sold this past July. The median price of single-family homes also increased about 2.7 percent:[…]

National Cheat Sheet: Facebook launches ad product to compete with Zillow, Blackstone-Starwood merger creates biggest landlord in the US … & more

Facebook debuts advertising service for brokers that competes with Zillow This week Facebook debuted an advertising product geared towards residential real estate brokers, in what some experts interpret as a move to seize the turf of online listings portal Zillow. Even though Facebook and Zillow recently partnered to put Zillow ads on Facebook, the social[…]

Westchester & Fairfield Cheat Sheet: Inside Berkshire Hathaway’s bombshell Houlihan Lawrence acquisition, ranking the biggest commercial deals … & more

Inside Berkshire Hathaway’s bombshell acquisition of Houlihan Lawrence Local industry insiders were floored when Warren Buffett’s Berkshire Hathaway HomeServices snapped up Houlihan Lawrence in January. Seven months later, Houlihan agents still don’t know what the future holds. Some brokers fear the expansion of Houlihan into nearby HomeServices areas could cause the firm to step on[…]

National Cheat Sheet: Online marketplace Ten-X sells for $1B, hotel occupancy up in Q2, drastic drop in Chinese investment expected soon … & more

Auction giant Ten-X will be sold to private equity firm for more than $1B Ten-X, which brokers residential and commercials sales on its online marketplace, has been purchased by Thomas H. Lee Partners for more than $1 billion. The website, formerly known as Auction.com, characterizes the transaction as a “major recapitalization,” with current senior management and[…]

Westchester & Fairfield Cheat Sheet: Why microbreweries could be the hottest new tenants in New Rochelle, judge tosses Iona College’s land lawsuit against New Rochelle … & more

New Rochelle passes zoning amendment to lure craft breweries as retail tenants The New Rochelle city council passed an amendment that eases zoning laws on craft businesses in order to entice breweries looking for retail space in the downtown area, LoHud reported. Previously, brewing was only permitted in industrial zones or in new buildings. The[…]

Hamptons Cheat Sheet: Officials shut down Tinder-hosted party house in Montauk, Harvey Weinstein slashes price of his Amagansett home … & more

Officials swipe left on Tinder-hosted party house in Montauk New York entrepreneur Michael Hirtenstein rented out his residence at 230 and 234 Old Montauk Highway to a Tinder executive for the month of July, but after a few raucous parties, the renter was given the heave-ho. The executive, who paid $135,000 for the month, was using[…]

National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Investors are putting their money in real estate over hedge funds Wealthy investors currently have about 33 percent of their portfolios in real estate, according to a survey by Tiger 21, a social networking site for investors. The survey also revealed that hedge fund investments slid to 4 percent, Bloomberg reported. [TRD] Quicken Loans slapped with[…]

National Cheat Sheet: Chinese real estate firms set to consolidate, Facebook plans to build affordable housing … & more

Chinese real estate investment industry is set to begin rapidly consolidating Dalian Wanda Group’s $9.3 billion sale of nearly 90 tourist and hotel assets to Sunac China Holdings was just one indicator of the rapidly consolidating Chinese real estate market. Real estate companies in China are projected to spend more than $27.6 billion in acquisitions[…]

Westchester & Fairfield Cheat Sheet: RXR Realty exits local office markets, Westchester home prices go up in Q2 … & more

RXR Realty sells off its Westchester and Fairfield office portfolio Scott Rechler’s RXR Realty appears to be exiting the office markets in Westchester and Fairfield counties. Along with its affiliate, the Australian real estate investment trust RNY Property Trust, RXR has sold or is in contract to sell off six office properties in the two[…]