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Wall Street Journal / Life - Entertain

A Chunk of a Hawaiian Island Seeks $260 Million

Seller GL Limited is off loading Molokai Ranch—land that encompasses almost the entire western side of Molokai—after development efforts ran into local opposition.

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WSJ Real Estate

MANSION A High-Rise Built for Me

Jessica Klewicki Glynn for The Wall Street Journal

After years of marketing turnkey, designer-finished condos to high-end buyers, a handful of developers are going dramatically in the other direction, offering extreme levels of customization before the building is even completed. The switch is a bid to attract wealthy downsizers, who developers say are a target market for luxury downtown living, but who can be reluctant to give up the custom-built suburban homes they are used to.

A Chunk of the Hawaiian Island of Molokai Seeks $260 Million

Richard A. Cooke III

A parcel of land that encompasses almost the entire western side of the Hawaiian island of Molokai is going on the market for $260 million. Called Molokai Ranch, the roughly 55,575-acre property spans about 35% of the rural island, encompassing 20 miles of coastline, a multitude of secluded beaches, ranch land and forests. If it sounds like a developer’s dream, think again: The seller’s efforts were stymied by intense local opposition.

How Artists Sparked a Rebirth in Hackney

Joanna Yee for The Wall Street Journal

London’s borough of Hackney, once a byword for deprivation and urban grime, is now a mecca for creative types, foodies and young professionals. And it was artists—young, hip, and financially challenged—who laid the foundations for this rebirth. At just over seven square miles, Hackney is one of London’s smaller boroughs, and traditionally one of its cheapest. In 2007, the peak of the housing boom, an average property cost just under £309,000, or about $400,000. Today the average home in the east London borough costs almost $800,000.

Steve Madden Buys $12.2 Million Manhattan Apartment

Stribling Marketing Associates

Steve Madden, founder and former CEO of the eponymous footwear label, has purchased a $12.2 million apartment on Manhattan’s East Side. The five-bedroom, 6½-bathroom home is located at 252 East 57th Street, a recently completed condominium project designed by architecture firm SOM and developed by World Wide Group and Rose Associates.

Surprise: Greenwich Home Sells For $2 Million Over Asking

Dana Meilijson

A heavily renovated Tudor-style home in Greenwich, Conn. has sold for $22 million, defying a prolonged pricing slump in what’s traditionally been one of the most expensive markets in the U.S.

COMMERCIAL REAL ESTATE The Next Hurricane-Related Shortage: Construction Workers

David J. Phillip/Associated Press

A severe shortage of construction workers is expected to cause widespread delays and push labor costs sharply higher as Texas begins to rebuild from Hurricane Harvey. The labor squeeze could get worse still if Hurricane Irma slams the Southeastern U.S. this weekend as expected. Already, an estimated 30,000 homes in Houston were destroyed by Harvey, more than this city was expected to build in all of 2017, according to the Greater Houston Builders Association. Tens of thousands more were damaged.

HOUSE OF THE DAY Inside an Il Divo Singer’s Malibu Farmhouse

Sebastien Izambard

Sebastien Izambard, a member of the pop-classical quartet, and his wife, Renee, combined flea market finds with a playhouse from France to create this family home.

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