National Cheat Sheet: RXR Realty launches $500M fund, McDonald’s plans $6B in upgrades … & more

RXR Realty launching a new $500M fund that will target “opportunity zones” Last year, the tax code passed by Republicans in Congress set up an “opportunity zone” program that lets investors either defer or avoid capital gains taxes if they invest in low-income neighborhoods, and it appears the new initiative presented RXR Realty with an[…]

Westchester & Fairfield Cheat Sheet: $100M assisted living and health center hybrid facility planned for Norwalk … & more

$100M assisted living and health center hybrid facility planned for Norwalk A Norwalk property where a YMCA once stood will soon be home to a health center and assisted living facility, the Fairfield County Business Journal reported. Norwalk Hospital, its parent organization Western Connecticut Health Network and Maplewood Senior Living plan to build a five-story[…]

National Cheat Sheet: Zillow stock plunges, Softbank’s IPO could be the largest ever … & more

Zillow stock plunges 15% but its CEO says the company’s ‘long-term story is intact’ It wasn’t the best week for Zillow Group, which saw its stock plunge around 15 percent on Tuesday. The dip came a day after the listings giant announced that it would be getting into home-buying and mortgage origination — a move[…]

Westchester & Fairfield Cheat Sheet: Why Westchester homes are getting battered by “dramatic price reductions” … & more

Why Westchester homes are getting battered by “dramatic price reductions” An increasing number of Westchester residents are trying to sell their homes to avoid high property taxes, and at the same time, the market is seeing significant price chops, particularly on homes priced between $1.5 and $3 million, Bloomberg reported. Inventory at the end of[…]

National Cheat Sheet: Fed keeps interest rates steady, Brookfield to shell out $6.8B for Forest City … & more

Fed keeps interest rates where they are, with a rate raise expected next month While the Federal Reserve held off in raising interest rates this month, many expect that it will raise them in September, the Wall Street Journal reported. The Fed has raised interest rates twice so far this year — most recently in June[…]

Westchester & Fairfield Cheat Sheet: SL Green sells 6-building office complex in Rye Brook for $55M … & more

SL Green sells 6-building office complex in Rye Brook for $55M A joint venture between New York-based commercial real estate firm George Comfort & Sons and a fund managed by DRA Advisors shelled out $55 million for a six-building office complex in Rye Brook, LoHud reported. SL Green sold the 563,596-square-foot Reckson Executive Park to[…]

National Cheat Sheet: China Vanke agrees to buy 5% stake in Cushman ahead of IPO … & more

China Vanke agrees to buy 5% stake in Cushman ahead of IPO Last month, Cushman & Wakefield filed paperwork for its initial public offering. Sources familiar with the global brokerage’s plans have told the Wall Street Journal it plans to raise $750 million. The IPO “would value the firm at around $6 billion, including debt,”[…]

Westchester & Fairfield Cheat Sheet: Tommy Hilfiger’s former Greenwich manse hits the market … & more

Greenwich mansion once owned by Tommy Hilfiger hits the market A 4.6-acre Greenwich property that fashion designer Tommy Hilfiger owned until 2006 has hit the market, the New York Post reported. The seven-bedroom, seven-and-a-half bathroom home known as Appleyard Estate is asking $6.75 million and includes a movie theater, a tennis court, a spa and[…]

National Cheat Sheet: Compass to license its tech, WeWork goes vegetarian … & more

Non-core market real estate firms can now license Compass’ technology Compass has started to offer its technology to other real estate firms, starting with Leading Edge Real Estate Group, which has two offices in Massachusetts. Firms that secure a deal with Compass will be able to use the brokerage’s search and marketing tools, among other[…]