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Google Parent to Buy Manhattan Building in $2 Billion Deal

Alphabet enters agreement with Jamestown LP to purchase building in New York tech hub


WSJ Real Estate

COMMERCIAL REAL ESTATE Google Parent to Buy Manhattan’s Chelsea Market Building in $2 Billion Deal

Caitlin Ochs/Bloomberg News

The parent company of Google is expanding its real-estate holdings in Manhattan, with plans to plow more than $2 billion into one of the city’s prime tech neighborhoods. Under the deal, Alphabet Inc. entered a contract to buy the Chelsea Market building at 75 Ninth Ave. from Jamestown LP, according to a person familiar with the transaction.

South Korean Developers Cautious About Lasting Olympic Benefits

Yonhap News/Zuma Press

With the opening ceremony of the 2018 Winter Olympics just days away, the South Korean economy is enjoying a boost from the roughly $12 billion that has been spent on new hotels, housing projects, venues and infrastructure. But concerns abound about whether the real-estate and infrastructure development tied to the Pyeongchang Olympics will be worth it to Asia’s fourth-largest economy. Meanwhile, the volume of commercial real-estate deals in the country remains robust despite tensions between the U.S. and North Korea. And in Seoul, the downtown core is getting a facelift.

Heads Up: Jon Gray Makes a Super Bowl Cameo

Mindy Gray

Sharp-eyed commercial-property investors watching the Philadelphia Eagles beat the New England Patriots in Super Bowl LII on Sunday might have noticed an unlikely TV cameo from one of the biggest names in their industry: Jonathan Gray, the head of real estate for Blackstone Group .

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MANSION Inside a Teen’s $57,500 Study

Manolo Langis/Christine Markatos

Her assignment: “Be happy.” That was the guiding principle behind designer Christine Markatos’s interiors at her clients’ Italianate mansion in Los Angeles. The eldest daughter’s study had to do double duty: as a quiet space for homework and as a refuge for hanging out with friends.

Mel Gibson’s Onetime Connecticut Mansion Lists for $22.5 Million

Stan Jesudowich

The seller of a Greenwich, Conn., mansion once owned by actor Mel Gibson is listing it for $22.5 million, less than he paid for it eight years ago.

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Self-Employed Workers Face Mortgage Hurdles

Chris Gash

Being your own boss allows for innovation and independence. But the self-employed also face difficulties when applying for a mortgage. The biggest hurdle, experts say, is demonstrating they meet the lender’s income requirements.

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HOUSE OF THE DAY A Historic Harlem Townhouse, Restored

Citi Habitats

The owner spent the past decade completing this property, which has original parquet flooring and stained-glass windows.

GREATER NEW YORK REAL ESTATE After Tax Overhaul, Manhattan Real-Estate Sales Seize Up

Drew Angerer/Getty Images

The tax overhaul and its elimination of some tax advantages of owning property have settled like a cloud over the Manhattan real-estate market. Buyers are becoming convinced that prices are due to fall. Sellers don’t agree. The result: a standoff.

Anger as New York City Public Housing Residents Go Without Heat, Hot Water

William Alatriste/New York City Council

More than 143,000, or 80%, of New York City’s 175,000 public housing apartments have been without heat or hot water at times this winter, city officials said Tuesday. Tempers flared over widespread heat and hot water outages in New York City public housing at an unusually contentious City Council hearing.

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DESIGN Would You Let Your Child Sleep In This Cantilevered Bed?

LAGO Studio

Gravity-defying cantilevered furniture—from children’s beds to credenzas—looks chic, but fears that it might fall can outweigh the appeal. Design pros debate the merits and risks.

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