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  • Why rich Brazilians are scooping up property in Portugal May 25, 2019
    Brazilian multimillionaire Ricardo Bellino lived more than 10 years in Miami before relocating to Portugal, which has emerged as a haven for affluent Brazilians. Bellino, 53, who bought a home near Lisbon, will gain from a flat income-tax rate of 20 percent in Portugal, where he also may be eligible for a tax-free pension after […]
  • Chicago activist lambasted greedy developers for years. What happens now that he’s in charge? May 25, 2019
    About three dozen Chicago real estate bigwigs and other business leaders gathered at the Soho House in Fulton Market last month to talk about the political vise that seemed to be closing in around them. Already high property taxes had nowhere to go but up, affordable housing requirements were tightening landlords’ profit margins, and the […]
  • Former home of hitman, Capone associate “Machine Gun” McGurn hits market May 25, 2019
    The one-time home of notorious Chicago mobster “Machine Gun” Jack McGurn, an alleged mastermind of the 1929 St. Valentine’s Day Massacre, is on the market in Oak Park. McGurn lived in the bungalow at 1224 Kenilworth Avenue with his wife, Louise Rolfe, who famously was his “Blonde Alibi” for the day of the massacre, which […]
  • Maryland pension cuts REITs out of portfolio May 25, 2019
    Managers of the $52.7-billion fund announced last year that they would review its strategy regarding allocations to two REITs totaling $785.8 million, IPE Real Assets reported. The system has $4.1 billion in real estate. Consultant firm Meketa Investment Group said tapping REITs was more helpful when real estate allocations were growing. But that the pension […]
  • This Bel Air megamansion is on the market — for $1.5M a month May 25, 2019
    Amid a widespread decline in Los Angeles’ high-end residential housing market, a celebrity surgeon-turned-spec developer is ready to sell his massive Bel Air mansion project at a big price cut. Raj Kanodia told CNBC that he will consider offers starting at just over $120 million on his 34,000-square-foot glass-box style home. Kanodia listed the property […]
  • Gwyneth Paltrow’s got some real estate advice: Buy a village in Spain for less than a NYC condo May 25, 2019
    Entire villages are hitting the market in Spain and actress-turned-wellness guru Gwyneth Paltrow wants you to buy one. Prices vary, but some can be had for much less than typical asking prices for homes in the United States. They can be bought through the website Aldeas Abandonadas (Abandoned Villages), which lists old towns and resort […]
  • Erasing history? Frank Lloyd Wright-designed home staring down demolition May 25, 2019
    A suburban cottage designed by Frank Lloyd Wright may be nearing a date with the wrecking ball. Weeks after the Sherman Booth Cottage sold to an unknown buyer for $555,000, its new owner filed demolition plans with the village of Glencoe, according to the Chicago Tribune. Its previous owner, the estate of Meyer and Doris […]
  • Hyatt is doubling down on boutique “lifestyle hotels” May 25, 2019
    The days of one-brand hotel chains are fast disappearing, as the hospitality conglomerates double down on lifestyle and boutique brands. Hyatt has launched a “lifestyle division” that will oversee boutique brands including Andaz, Alila, Hyatt Centric, Joie de Vivre Hotels, Thompson Hotels and tommie, according to Skrift. It follows Hyatt’s $480 million acquisition of boutique […]
  • Mark your calendars: These are NYC’s top real estate events next week May 24, 2019
    Next week brings another group of real estate events! On May 29, ULI New York is holding an event on Population Trends and How They Impact The Way We Live at Wells Fargo, 150 East 42nd Street from 6 p.m. to 8:30 p.m. Attend and hear a discussion on how population and demographic shifts affect […]
  • An inside look at the Hamptons’ new hotspots this summer May 24, 2019
    When weekenders descend on the Hamptons at the end of May, they will no doubt notice lots of new additions to the landscape of restaurants, hotels and retail. But for the real estate world, there’s a lot brewing behind the scenes that suggests the market is not in great shape. Some pockets are seeing a […]