Tag: Real estate

CalPERS Short-Changed by CIM in Pay-to-Play/Bribery Scandal; Looks Like Apollo Stiffed CalPERS Too

The ten year-old CalPERS CEO bribery scandal has abruptly resurfaced in an ugly fashion, as the Wall Street Journal indicates that one of the investment firms tainted by the scandal did not pay the full restitution promised to CalPERS CalPERS’ former CEO, Fred Buenrostro, is now in Federal prison serving a four-and-a-half year sentence for […]

Read More

CalPERS Short-Changed by CIM in Pay-to-Play/Bribery Scancal; Looks Like Apollo Stiffed CalPERS Too

The ten year-old CalPERS CEO bribery scandal has abruptly resurfaced in an ugly fashion, as the Wall Street Journal indicates that one of the investment firms tainted by the scandal did not pay the full restitution promised to CalPERS CalPERS’ former CEO, Fred Buenrostro, is now in Federal prison serving a four-and-a-half year sentence for […]

Read More

New Evidence on the Consequences of Gentrification for Children

Yves here. Gentrification is a tricky phenomenon, made worse by too much analysis via anecdote. More empirical work like this is badly needed. By Kacie Dragan, PhD Candidate in Health Policy, Harvard University, Ingrid Gould Ellen, Paulette Goddard Professor of Urban Policy and Planning at NYU Wagner and Sherry Glied, Dean, Robert F. Wagner Graduate […]

Read More

Homeless Crisis in Los Angeles Highlights the Fall of the Black Middle Class

In May 2019, British artist Chemical X’s art installation “Skid Rodeo Drive” highlighted the economic disparities in Los Angeles, where scores of homeless people live in tent communities not far from luxe enclaves like the famed Rodeo Drive. In the L.A. suburb of Pacoima, Calif., dozens of predominantly African-American people are living in tents under […]

Read More

Flood the Market

By Stephen Paulsen, a freelance journalist based in Houston, Texas. Originally published at Grist Amanda and Drew Heyen spent 16 years in their small ranch home on Chantilly Lane in Houston’s Central Northwest neighborhood. In that period, their house flooded nine times — more than once every two years. At first, they tried to live […]

Read More

Knotel raises $400 million to lease and manage coworking spaces

Knotel, a New York startup that designs and operates bespoke spaces for brands, today announced that it’s secured $400 million in funding at a valuation of $1 billion led by Wafra, an investment arm of Kuwait’s Sovereign Wealth Fund, with participation from Mori Trust, Itochu, and Mercuria. The capital infusion brings its total raised to […]

Read More

Fund That Flip raises $11 million to finance home makeovers

Fund That Flip, a New York- and Cleveland, Ohio-based marketplace lender of residential real estate loans, today announced that it’s secured $11 million in funding from Edison Partners. Founder and CEO Matt Rodak said that the capital infusion, which brings the startup’s total raised to nearly $15 million, will be used to scale distribution around […]

Read More

Why I Hate Houses

I have had, up till now, the good fortune to live in apartments, ranging by urban standards from nice to really very nice. I now live in a house that most would likely consider to be somewhat better than mere “nice”. It’s on a ridge, with nearly a full acre plot, in quiet tree-filled neighborhood […]

Read More

Common Leads Proposal to Build Massive Movie Studio Complex in Chicago

Photo: Ilya S. Savenok (Getty Images for Common’s Book Tour In New York) During a rousing speech at the BET Awards in June, movie magnate Tyler Perry stressed the importance of becoming our own gatekeepers. “When I built my studio, I built it in a neighborhood that is one of the poorest black neighborhoods in […]

Read More

Softening Real Estate Markets in Prime West Coast Cities: Does China Trump IPOs?

It’s intriguing to see that real estate prices in the toniest West Coast markets have been sloppy for a while, and experts anticipate this trend will continue. The reason for using the word “intriguing” is that I know some owners of prime San Francisco property who were hoping that prices for homes like theirs would […]

Read More

New York’s Invisible Climate Migrants

When Harold Jones first bought his home in Canarsie in 1991, he was struck most by the tall trees lining the street. Today, he’s more struck by the “For Sale” signs standing in their place. The trees went first, and quickly. During Hurricane Sandy in 2012, the waters of the Jamaica Bay inlet that borders […]

Read More

Full Circle: The Exonerated Five’s Korey Wise Moves Into Luxury Condo Overlooking Central Park

Korey Wise, left, and Jharrel Jerome, who portrays Wise, attend Netflix’s FYSEE event for “When They See Us” at Netflix FYSEE at Raleigh Studios on June 09, 2019 in Los Angeles, California. Photo: David Livingston (Getty Images) For 30 years, New York City’s Central Park has served as the origin of unspeakable anguish for Korey […]

Read More

Reforestation as a Solution for Carbon Capture: Hype and Reality

By Lambert Strether of Corrente A new study from the Crowther Lab at the Swiss Federal Institute of Technology in Zurich published in Science (paywalled, but here is the original) has come out with a new report recommending reforestation as a (partial) solution to carbon capture. The report has gotten a lot of great press […]

Read More

Grenfell Tower Fire: A (Non-)Progress Report

By Lambert Strether of Corrente Today, June 14, is the second anniversary of the GrenFell Tower fire in London, a public housing block where 72 people died in a conflagration where the proximate cause was inflammable cladding installed on the outside of the building during a remodelling, and the ultimate cause was Thatcherite deregulation and […]

Read More

From Incarceration to Gentrification: Realtors Drool Over Prospect of Turning Former Harlem Prison into ‘Trophy Real Estate’

Photo: iStock If you’re the sort of person who believes we’re currently in—or at the very least, teetering on the brink of—a warped, capitalist dystopia, then go ahead and pull up a seat, because do I have a story for you. Within a matter of weeks, an eight-story minimum security men’s prison will be sold […]

Read More