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Bally’s eyes casino bid at Trump’s Bronx golf course

Bally’s is looking to enter New York’s casino sweepstakes with a pitch for a facility next to Donald Trump’s golf course. The gaming company is discussing the proposal of a casino on 17 acres of the Trump Organization’s golf course at Ferry Point in the Bronx, the New York Post reported. The potential proposal is the only one slated for the borough as several developers, in partnership with household entertainment names, have pitched projects for

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Taconic nabs $300M refi for Upper West Side life sciences hub

Two years after a $600 million recapitalization, Taconic Partners has closed another large financing deal at its planned life sciences hub on the Upper West Side. An entity tied to Apollo Global Management provided Taconic and its partner Nuveen Real Estate with a $300 million loan to refinance their eight-story redevelopment at 125 West End Avenue, PincusCo first reported.  The developers expect to complete the 400,000-square-foot project this year, YIMBY reported in November. Representatives for

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Layoffs hit News Corp after real estate losses

News Corp responded to a drop in revenue last quarter by confirming ongoing talks about a sale of Move Inc. and plans to slash jobs. Rupert Murdoch’s company will cut 1,250 jobs, Inman reported. The company didn’t specify in its fourth-quarter earnings report where the cuts would have the deepest impact and if they involved Move, the parent company of listings giant Realtor.com. Real estate appears to be the driving force behind the layoffs. In

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Trump’s 40 Wall Street on lender watchlist

The most valuable skyscraper in Donald Trump’s portfolio has been placed on a lender watchlist. The mortgage on the Trump Organization’s 40 Wall Street in the Financial District was placed on the watchlist amid concerns of rising expenses and vacancies, Bloomberg reported. The mortgage, which is being serviced by Wells Fargo, has a balance of $126.5 million. The vacancy rate at the 72-story tower neared 18 percent in the third quarter, according to a monthly

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Some states mull bills to limit foreign ownership of real estate

With tensions running high between the U.S. and China, at least 11 states are looking to limit or ban people and companies with direct ties to China from owning real estate within their borders, the New York Times reported. Texas is leading the way, with Republican state Sen. Lois Kolkhorst, R-Brenham, sponsoring a bill — spurred by a Chinese company’s purchase of 130,000 acres near Laughlin Air Force Base in South Texas for a wind

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Power couple builds up $140M real estate portfolio

Slack’s Stewart Butterfield and Away’s Jen Rubio with 3636 Clay Street, San Francisco (Google Maps, Getty) They’ve built up two businesses worth over $1 billion, now they’re building up their real estate portfolio. Silicon Valley power couple Stewart Butterfield, the co-founder of Slack, and Away co-founder Jen Rubio have amassed an impressive array of luxe homes, having spent at least $140 million since 2021, the Wall Street Journal reported. Butterfield and Rubio, who married in

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Power couple builds up $140M real estate portfolio

Slack’s Stewart Butterfield and Away’s Jen Rubio with 3636 Clay Street, San Francisco (Google Maps, Getty) They’ve built up two businesses worth over $1 billion, now they’re building up their real estate portfolio. Silicon Valley power couple Stewart Butterfield, the co-founder of Slack, and Away co-founder Jen Rubio have amassed an impressive array of luxe homes, having spent at least $140 million since 2021, the Wall Street Journal reported. Butterfield and Rubio, who married in

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Connecticut mayor runs afoul of city’s short-term rental rules

The stakes are significantly lower than corruption and racketeering charges, but Bridgeport Mayor Joe Ganim has drawn scrutiny for violating local regulations by listing his home on online rental platforms, CT Insider reported. Ganim listed on Airbnb and Vrbo for $125 a night his single-family home at 37 Thorne Place in the upscale neighborhood of Black Rock, despite city zoning regulations that forbid short-term rentals, the outlet reported. After a media inquiry, Ganim agreed the

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Florida governor: Disney has ‘new sheriff in town’

The latest round of culture war has seen the House of Mouse lose some of the autonomy it’s enjoyed in Florida the past six decades, but the company still held on to several key privileges. In a special session last week, the legislature gave Gov. Ron DeSantis the power to appoint the members of the board that oversees the development of Walt Disney World theme parks, The New York Times reported. DeSantis had fought with

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Watch: What the increase in millionaire renters means

Owning a home may be the hallmark of the American Dream, but not necessarily so for millionaires, according to The Real Deal’s Hiten Samntani in the latest edition of Resi Rundown. High mortgage rates, soaring home prices and the flexibility that comes with not laying down roots all play into wealthy millennials and members of generations X and Z renting their homes.  In 2020, there were close to 2,500 millionaire rental households in New York

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