Real Estate

  Bloomberg Developers racing to turn Brooklyn into a thriving technology office market may be finding Manhattan a less-fruitful target for poaching tenants. Leasing in Manhattan by tech, advertising, media and information tenants — known to real estate brokers by the acronym TAMI — fell in the second quarter to the lowest level in more than three years, according to ...

  AP Americans bought new homes in June at the fastest pace in more than eight years, a sign that a solid job market and low mortgage rates are bolstering the U.S. housing market. The Commerce Department said that new-home sales rose 3.5 percent last month to a seasonally adjusted rate of 592,000, the best level since February 2008. Purchases ...

  Bloomberg Apartment construction in New York and San Francisco is taking its toll on landlords, with Equity Residential, the largest publicly traded U.S. multifamily owner, cutting its revenue forecast for the third time this year. Equity Residential expects revenue growth from properties open at least a year to be 3.5 percent to 4 percent in 2016, according to the ...

  AFP Chinese mainlanders are underpinning high-end residential apartment rents in Hong Kong as expatriate housing budgets in the financial industry are being slashed, according to Savills Plc. Vacancies for luxury apartments remain low and budgets of HK$40,000 (just over $5,000) to HK$100,000 per month are the most popular, according to a note from the London-based real estate services company. ...

  Bloomberg Billionaire Wang Jianlin’s $4.4 billion proposal to privatize Dalian Wanda Commercial Properties Co. drew support from Glass Lewis, which advised investors to vote for the plan. The buyout offer’s rationale is “fairly standard,” and “straightforward,” according to a Glass Lewis report seen by Bloomberg. The proxy advisory firm is “inclined to agree” that the buyout of listed shares ...

  Bloomberg For David Wong, the business of selling homes isn’t as good this year as it was in 2015, and he’s blaming that on a decline in customers from China. “The residential-property market here, especially for those priced between $2.5 million to $3 million, has been affected by China’s measures to control capital flight,” said the New York City-based ...

  Bloomberg A 42-year high in the number of apartment buildings under construction points to an impending surge in supply that portends a moderation in the cost of shelter, which in June capped the biggest 12-month jump in almost a decade. Any cooling in the most pronounced driver of inflation means the Fed will have to wait even longer to ...

  Bloomberg Brooklyn developer The Leser Group Ltd. is selling 125 million shekels ($32.5 million) of bonds in Israel, reopening a market that was shut to North American real estate companies after Canadian developer Urbancorp Inc.’s April default rattled investors. The new issue, a retap of Leser’s 6.9 percent bonds due in May 2026, will yield 6.6 percent, according to ...

  Bloomberg Canada plans to tax overseas investors buying homes in Vancouver, one of North America’s hottest property markets, as it seeks to tamp down price gains in an area that absorbed more than C$1 billion ($760 million) of foreign money in five weeks alone. An additional property-transfer tax of 15 percent will apply to foreign nationals and overseas corporations ...

  Bloomberg Blackstone Group LP plans to sell office properties in the Netherlands as the world’s largest manager of alternative assets seeks to profit from rising real estate prices in the country, according to two people with knowledge of the process. CBRE Group Inc. has been hired to market the properties in cities including Amsterdam and Utrecht for more than ...