The Real Deal South Florida South Florida Real Estate News
- WeWork stock up on first day, but profitability still fuzzyby By Keith Larsen on October 21, 2021 at 11:09 pm
Two years after WeWork’s planned IPO imploded in spectacular fashion, the co-working company is now a publicly traded company on the New York Stock Exchange. The flex-office provider pitched itself to investors as WeWork 2.0. Gone were the hard-partying, pot-smoking days of founder Adam Neumann. No more self-interested side deals and pet projects like WeLive or WeGrow. Instead of seeking to “elevate the world’s consciousness,” WeWork’s new core values would be “to do the right ... [more] The post WeWork stock up on first day, but profitability still fuzzy appeared first on The Real Deal South Florida.
- Planned Waldorf Astoria Miami wins design approvalby By Erik Bojnansky on October 21, 2021 at 10:00 pm
UPDATED, Oct. 21, 9 p.m.: The Waldorf Astoria Hotel and Residences, planned for downtown Miami, won approval from Miami’s Urban Development Review Board on Wednesday. Property Markets Group, led by Kevin Maloney, Ryan Shear and Dan Kaplan, is proposing to construct a tower at 300 South Biscayne Boulevard that is 1,049 feet tall. The 100-story Waldorf Astoria in Miami is planned to be the tallest skyscraper south of Manhattan. The tower will be 1.5 million ... [more] The post Planned Waldorf Astoria Miami wins design approval appeared first on The Real Deal South Florida.
- Investors take bigger bite of US housing, and pay lessby By Holden Walter-Warner on October 21, 2021 at 9:30 pm
Investors aren’t only grabbing more than their usual share of the U.S. homebuying market, but also paying less. The RealtyTrac Investor Purchase Report https://www.realtytrac.com/blog/realtytrac-investor-purchase-report-fall-2021/ found investors were responsible for 15.4 percent of home purchases during the second quarter, a 34 percent jump from the same period last year. Investors’ share of purchases across the country decreased slightly from the 15.9 percent recorded in the previous quarter, but remained at the higher end of the typical ... [more] The post Investors take bigger bite of US housing, and pay less appeared first on The Real Deal South Florida.
- Washington Prime Group back from bankruptcy; CEO outby By Sasha Jones on October 21, 2021 at 8:45 pm
Just a few months after filing for Chapter 11, mall operator Washington Prime Group has emerged from bankruptcy. When the real estate investment trust, which owns more than 100 malls across the country, filed for bankruptcy protection in June, it listed $4 billion in assets and $3.5 billion in debts. Through the process, the company has reduced its debt by nearly $1 billion. The company also announced that Lou Conforti is stepping down as chief ... [more] The post Washington Prime Group back from bankruptcy; CEO out appeared first on The Real Deal South Florida.
- $6M play: Los Angeles Chargers’ Joey Bosa picks up waterfront Fort Lauderdale homeby By Francisco Alvarado on October 21, 2021 at 8:30 pm
Joey Bosa, the NFL’s second highest-paid defensive player, bought a modern home on Fort Lauderdale’s waterfront for $5.8 million. Through a trust, the Los Angeles Chargers star defensive end picked up the house at 2401 Solar Plaza Drive in the city’s Idlewyld neighborhood, according to records. Bosa signed a five-year extension with the Chargers last year that pays him $27 million annually, putting him behind only Pittsburgh Steelers linebacker T.J. Watt, who makes $28 million ... [more] The post $6M play: Los Angeles Chargers’ Joey Bosa picks up waterfront Fort Lauderdale home appeared first on The Real Deal South Florida.