An untold number of US homes are appraised by people just looking at Google Earth and Zillow

More than $20 billion worth of bonds backed by homes are underwritten using “drive-by” appraisals — which are sometimes generated by overseas contractors looking at Google Earth and listings websites. The assessments – known as broker price options or BPOs – are put together in a more hasty fashion than traditional appraisals. They also cost[…]

Allan Fried and Clarion moving forward with FiDi hotel/retail redevelopment

Allan Fried’s GHC Development is planning to convert the former American Stock Exchange building in the Financial District into a hotel with a large retail component at a time when both property types are facing headwinds. GHC and its partner, Clarion Partners, plan to pump $65 million into upgrading the retail space, which recently hosted[…]

From the archives: Meet the little W’burg building that’s home to over 1,000 LLCs

From the archives: At first glance it seems like one nondescript building among scores in South Williamsburg, a three-story brown-brick property housing a small retail store and a couple of apartments above. But in Hasidic real estate circles, the 3,500-square-foot structure at 199 Lee Avenue is legendary. Hundreds of landlords from the Orthodox community, who[…]

Bunny Mellon’s former land up for grabs as part of new Antigua resort

Replay Resorts is developing a 132-acre five-star luxury resort in Half Moon Bay, Antigua, which includes property formerly owned by the late Rachel “Bunny” Mellon, an heiress and famed taste-maker known for her influence on Jackie Kennedy Onassis. Speaking on behalf of the Canadian developer, William Anderson, who is the CEO of the project, said[…]