WSJ Real Estate
COMMERCIAL REAL ESTATE One Beneficiary From Hurricane Harvey: Self-Storage Landlords
Christopher Aluka Berry/Reuters
Demand for self-storage space has surged in Houston with thousands of people displaced from their homes after Hurricane Harvey. Before Harvey, self-storage companies had been engaged in aggressive price competition, with incentives such as one-month free rent commonplace. These landlords will benefit from an uptick in demand in the short term, but given the pressure not to be seen as price gougers the potential upside is capped.CoStar Agrees to Buy ForRent.com for $385 Million
Spencer Platt/Getty Images
CoStar Group Inc., one of the world’s largest internet real-estate data companies, is purchasing ForRent.com in a $385 million deal that shows the rental apartment listing business is becoming the latest battleground in online property services.New York Developer Raises Fund for Affordable Housing
Natalie Keyssar for The Wall Street Journal
New York developer Jonathan F.P. Rose, founder and president of Jonathan Rose Cos. has raised a $233 million real-estate fund dedicated to affordable housing, the company’s largest such fund in a sector drawing more attention from investors.
- Rental Construction Drops Despite Demand
Geoff Robins/AFP/Getty Images
Actor Matt Damon is in contract to buy a Brooklyn Heights penthouse, according to people with knowledge of the deal. The apartment, which tops a condominium project known as the Standish on Columbia Heights, was last seeking $16.645 million. If the deal closes for that price, it would be the priciest residential sale ever to take place in Brooklyn.Luxurious Utah River Estate Asks $30 Million
Engel & Völkers
A technology entrepreneur is listing a luxurious estate in small-town Utah for $30 million. The property includes a 16,800-square-foot mansion built along the contours of the Weber River.A Sake-Brewers’ House Steeped in Tradition
Ben Weller for The Wall Street Journal
Tetsuo Yamaguchi’s home is located just steps from the “office,” a sake brewery founded by his family 180 years ago in the Japanese city of Kurume. And like the fermented-rice beverage, the Yamaguchi home is steeped in tradition. The family’s presence in Kurume, Kyushu, dates back to 1737 and the home to about 1800.
- A Brooklyn Loft Made ‘Sew’ Affordable
- House Call: Restaurateur Danny Meyer on the Mistakes that Guided Him
This 54-acre estate includes a classical main house, a summer house, formal gardens, a stream, two meadows and hiking trails.GREATER NEW YORK REAL ESTATE Long Island City Condo Sales Are Hot
Mark Kauzlarich for The Wall Street Journal
Times have changed in Long Island City. The strong market reflects the maturing of Long Island City as a residential neighborhood and the limited supply of new condos on the market.NYC’s Pearl River Mart Will Expand to Chelsea Market
Pearl River Mart, once a casualty of Manhattan’s skyrocketing retail rents, is now in expansion mode. The eclectic Asian-goods emporium only last November reopened in Tribeca. Now, the family-run retailer is planning to open another 3,500 square-foot store at Chelsea Market.Clothier J. Press Looks to Spur U.S. Sales with New Midtown N.Y. Store
Alexander Cohn for The Wall Street Journal
Preppy clothing retailer J. Press said it is trying to ignite U.S. sales by opening a store in the Midtown Manhattan building that houses the Yale Club this October.
- Want to Generate Buzz For Your Building? Have a Kanye Party
Stephen Kent Johnson for WSJ. Magazine
In a corner of Marrakech’s medina, Bernard-Henri Lévy has restored and expanded the Palais de la Zahia—a place to retreat to with his wife, Arielle Dombasle, while communing with the riad’s storied past.