National Cheat Sheet: Compass hires CTO, Brookfield set to buy Forest City … & more

Compass taps AI expert to be new chief technology officer Nine months after Compass’ chief technology officer left to start his own company, the SoftBank-backed brokerage has picked a new one. Before landing at Compass, Joseph Sirosh was the CTO of artificial intelligence at Microsoft and the vice president of Amazon’s global inventory platform, where[…]

Westchester & Fairfield Cheat Sheet: Anne Hathaway sells Westport mansion, Yonkers firm plans co-working and ax throwing spaces … & more

Anne Hathaway and spouse sell Westport mansion for $2.7M Anne Hathaway and her husband have taken a loss on their Westport mansion, Variety reported. The Oscar-winning actress and actor and producer Adam Shulman, bought the five-bedroom, 5.5-bathroom home for $2.79 million a little over two years ago, and recently sold it off-market for $2.7 million,[…]

National Cheat Sheet: Fed warns of rising commercial real estate prices, Airbnb adds Amazon exec ahead of IPO … & more

Fed, highlighting asset bubble dangers, red flags rising commercial real estate prices A report released Wednesday by the Federal Reserve warns that soaring commercial real estate prices across the country could harm financial markets, according to the Wall Street Journal. The warning came from the Fed’s first-ever financial stability report, which cited “elevated asset prices, historically[…]

Westchester & Fairfield Cheat Sheet: A rich county gets a ratings downgrade, ‘City Square’ plans revealed … & more

Westchester County loses top AAA rating after downgrade Despite its array of mansions and other areas of affluence, Westchester County, one of the richest suburbs in the country, saw its elite credit rating get cut by a pair of prominent ratings agencies, according to Bloomberg. Fitch Ratings and Standard & Poor’s Global Ratings both made the[…]

National Cheat Sheet: Apollo plans $1B real estate fund, Amazon’s HQ2 selection spurs spurned cities to react … & more

Apollo plans to raise at least $1B in its third U.S. real estate fund Buyout giant Apollo Global Management hopes to raise at least $1 billion for a new real estate investment fund that will focus on retail and industrial properties, senior housing, and hotels, Bloomberg reported. This would be the firm’s third real estate[…]

Westchester & Fairfield Cheat Sheet: Wells Fargo calls Fairfield County ‘distressed,’ Mamaroneck yacht club sells … & more

Wells Fargo deems Fairfield County ‘distressed,’ raises down payment requirement Wells Fargo has designated Fairfield County as “distressed” and increased its required down payment for prospective homebuyers from 20 percent to 25 percent as a result, Bloomberg reported. Fairfield County was the only county in Connecticut and the New York City metropolitan area that saw[…]

National Cheat Sheet: Amazon makes HQ2 split official, SoftBank invests $3B in WeWork… & more

Amazon announces plans to split its HQ2 between Long Island City and Crystal City After months of speculation and unconfirmed reports, Amazon finally made its long-awaited HQ2 announcement Tuesday. The Seattle-based company said that it would divide its second headquarters between Crystal City in Virginia and Long Island City in New York. The e-commerce behemoth[…]

Westchester & Fairfield Cheat Sheet: Michael D’Alessio pleads guilty to fraud, co-working space heads to White Plains … & more

White Plains developer Michael D’Alessio pleads guilty to wire fraud Michael D’Alessio has pleaded guilty to defrauding investors in development projects across New York. U.S. Attorney Geoffrey Berman said last week that D’Alessio funneled investor funds that were meant for luxury developments in Manhattan, the Hamptons and Westchester into shell accounts. The White Plains developer[…]

National Cheat Sheet: Mortgage applications plunge, Amazon eyes splitting HQ2 … & more

Lowe’s Companies to close 51 stores across North America amid ‘strategic reassessment’ Another retailer is closing dozens of its stores. Lowe’s Companies, which has more than 2,300 stores across North America, plans to shutter 51 stores in the U.S. and Canada, the Wall Street Journal reported. The closures will include 20 stores in the U.S.[…]

Westchester & Fairfield Cheat Sheet: AMS buys Yonkers lot for $18.3M, Stamford Marriott sells for $31.6M … & more

AMS buys lot in Yonkers for $18.3M with plans to build 14-story rental building New York City-based AMS Acquisitions LLC has snapped up a 50,000-square-foot lot in downtown Yonkers for $18.3 million, the real estate investment firm said in a release. AMS plans to build a 24-story rental building with 361 units at the site[…]