WSJ Real Estate
COMMERCIAL REAL ESTATE Pittsburgh Draws a Big Bet on Downtown Revival
Gene J. Puskar/Associated Press
A New York investment firm has put $127.5 million of new debt on a Pittsburgh office complex that has roots dating back to a misguided 1960s urban renewal project.Existing-Home Sales Tumble for Third Straight Month [WSJ Pro]
Elise Amendola/Associated Press
Sales of previously owned homes fell in August to the lowest level in a year, reflecting a shortage of properties on the market and a sharp drop in Houston home purchases because of Hurricane Harvey.Dozens of Investors Show Interest in Plaza Hotel
About 50 private-equity firms, foreign governments and other investors have expressed interest in New York’s Plaza Hotel since the majority owner put it on the block last month, according to the broker handling the sales process.Landlords Try Turning Open-Air Shopping Centers Into Winter Hangouts
The Wharf DC
Landlords of open-air shopping centers and mixed-use property developments are trying to take the chill out of the air by adding outdoor entertainment programs, in hopes of attracting more shoppers in an era of declining foot traffic. And, while equity investors aren’t crazy about retail real estate these days, the sector is getting plenty of love from lenders.
- Hurricanes to Rattle Home Builders’ Results
- China’s Sentury Tire Hunts for Builder for Big U.S. Factory
Williams New York
An enormous penthouse at the iconic Woolworth Building in Manhattan is going on the market for an equally enormous asking price: $110 million. The apartment, which has been dubbed the Pinnacle, starts at 700 feet up and is contained within the building’s pointed, green, copper-clad peak.
- Planned California Home Seeks $65 Million
- The First Penthouse at Hudson Yards Asks $32 Million
Los Angeles Times/Getty Images
Hurricane Harvey wreaked havoc on Houston and caused billions of dollars in property damage. One segment of the real-estate market, however, was less impacted: luxury homes.A Grand Norwegian Estate Goes on the Market
Bent Renè Synnevåg for The Wall Street Journal
For centuries, the city of Bergen on Norway’s western coast fostered a distinctive merchant class. One of the last and most distinguished of these merchant-princes was Conrad Mohr. A key remnant of his one-time enormous holdings—a manor house completed in 1912—has come on the market.
- House Call: Former Doobie Brother Michael McDonald and His Honky-Tonk Piano
RISE Media/The Corcoran Group
A star of ‘This Is Us’ and ‘The Good Wife,’ he paid $175,000 for this Fort Greene condominium, which his husband renovated.GREATER NEW YORK REAL ESTATE Manhattan’s Trophy-Apartment Market Loses Its Luster
Andrew Lamberson for The Wall Street Journal
The Manhattan trophy apartment market has been roiled by six quarters of weak sales, uncertainty over valuations, and sellers who no longer build in expectations of rising prices into their offers, brokers said. The most expensive sales have been notched in new Midtown glass towers, and brokers are wondering whether the sales slowdown reflects a long-term change in the standing of uptown co-ops or a slow-moving correction as sellers gradually cut prices.