The Real Deal

• Madison Capital buys Seagate Technology’s Fremont campus for $260M May 27, 2023
  Seagate Technology Holdings, an Ireland-based hard drive maker, sold its 31-acre Fremont research campus to New York-based Madison Capital for $260 million, a roughly 13 percent discount from its asking price. Seagate, which listed the campus for $300 million in November, agreed with Madison to a lease to remain at least for the time being […]
• State Farm ceases new applications for home insurance in California May 27, 2023
  Like a good neighbor, State Farm is there*. (*Except for new homeowners in California.) Citing rising construction costs and increasing wildfires in the state, State Farm General Insurance Company announced it is no longer accepting new applications for property insurance in California, The Orange County Register reported. The move does not affect personal auto insurance […]
• Aspen home sells for $65M, well below $100M ask May 27, 2023
  A luxe Aspen, Colorado, home sold for $65 million, a hefty price to be sure, but well below the $100 million it was listed for. Detroit manufacturing entrepreneur Joel Tauber and his family sold the 10-bedroom, 11-bathroom mansion, which sits on 1.4 acres, to an unknown buyer, the Wall Street Journal reported. Steven Shane of […]
• Women claim a greater share of the luxury home market May 27, 2023
  The gender gap may be closing in luxury real estate home ownership. More than half — 54 percent — of luxury homeowners under the age of 35 are women, reflecting a transforming luxury real estate market landscape, according to a survey by Luxury Portfolio International. Men still represent the majority — 59 percent — of luxury […]
• Secretive company buys California ghost town for $23M May 27, 2023
  How much would you pay for a ghost town? There’s one in Arizona that comes complete with a refurbished general store. The owner is asking $1.1 million. A cannabis company tried selling the desert town of Nipton in California for $5 million, but ultimately only got $2.5 million from the adult circus that now owns […]
• A helter-skelter week in commercial, residential real estate May 27, 2023
  Real estate boils down to how much a buyer is willing to pay and a seller is willing to accept. Duh. But last week showed the market is more than a little helter skelter, not only with sales prices, but also with the way in which players conduct themselves. Nowhere was that more evident than […]
• LA could expand office-to-home conversions across city May 26, 2023
  The City of Los Angeles may expand a policy that helped create 12,000 homes out of old office buildings in Downtown. The city aims to expand a 1999 adaptive reuse ordinance credited with an explosive growth of homes Downtown by allowing the conversion of vacant office buildings into housing everywhere, Urbanize Los Angeles reported. As […]
• HGTV lists restored “Brady Bunch” house in Studio City for $5.5M May 26, 2023
  Here’s the story of a man named Brady, whose iconic Studio City home as seen in “The Brady Bunch” has hit the market for $5.5 million. The 5,100-square-foot dwelling made famous by the TV show about a blended family in the 1970s has been listed at 11222 Dilling Street, the Los Angeles Daily News reported. […]
• Demolition permit issued for Bears’ new stadium site in Arlington Heights May 26, 2023
  For decades, Arlington Park withstood pounding hooves. In mere days, it could fall to swiping claws. The Chicago Bears are closer to building a new stadium after the village of Arlington Heights issued a demolition permit at the former Arlington International Racecourse horse track site, where the NFL team is planning a $5 billion gameday […]
• Condo board alleges defects at Eichner’s Madison Square Park tower May 26, 2023
  About eight years after construction started, Ian Bruce Eichner’s odyssey to sell out Madison Square Park condo tower was almost complete. He had settled disputes with his partners and after a sluggish start to sales had sold all but one unit in the 83-unit building. But now, residents at the noteworthy Manhattan condo have alleged […]