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Related Cos. Taps Former Obama Officials for Infrastructure Fund

New business will buy stakes in firms that build and operate infrastructure

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WSJ Real Estate

COMMERCIAL REAL ESTATE Related Cos. Taps Former Obama Officials for Infrastructure Fund

Lev Radin/Zuma Press

Related Cos., one of the largest real-estate developers in the U.S., has hired two former senior Transportation Department officials in the Obama administration to build an infrastructure business.

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Want That House? You’d Better Pay in Cash

Michael Beiriger/Alamy

Five years after the housing market hit rock bottom, mortgage credit is finally returning to the healthy levels of the early 2000s, before the boom-bust cycle began. But all-cash deals remain well above normal levels, even as prices in many markets have pushed to record highs.

Investors Scour for Deals in Hurricane-Battered Caribbean Islands

Peter Grant/The Wall Street Journal

It takes more than a Category 5 hurricane to completely shut down the Caribbean real-estate market. The markets for both commercial and residential property have begun stirring to life sooner than many would have thought after 2017’s harrowing hurricane season. Meanwhile, hotels and resorts across the region are scrambling to salvage the crucial winter high season, when tourists from North America and Europe seek an escape from snow and ice. And prolonged ‘business interruptions’ due to labor shortages, lack of tourism could complicate insurance claims.

MANSION Manhattan Townhouse Built On Site of Gas Explosion Asks $32.5 Million

Sean MacNintch/Spotless Agency

It is a rare find: a newly constructed townhome in New York’s Upper East Side Historic District, which is protected by the city’s landmarks laws. Seeking $32.5 million, the home was able to be built because its predecessor was destroyed by a highly publicized gas explosion in 2006.

New Orleans Gets a Crop of New Condos

Sara Essex Bradley for The Wall Street Journal

For the first time, New Orleans has a critical mass of luxury condos set to enter the market, with deluxe finishes and opulent amenities—and prices to match. Developers—some local business people relatively new to real estate—are betting they can lure a more discerning, affluent buyer: empty nesters shedding suburban houses for the city’s walkable downtown, and newcomers ready to buy into the Big Easy’s eclectic lifestyle.

The Mansion’s Exterior Was Classic. Its Interior Was Dated.

Vivian Johnson for The Wall Street Journal

It looked perfect from the curb: an 8,900-square-foot, 1913 stucco mansion on a hill in Piedmont, Calif., fronted by redbrick stairs, old-fashioned lanterns, segmented arched windows and a red-tile roof. Inside was a different story. Gregor and Liz Watson bought the property, then started on a $2 million renovation.

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HOUSE OF THE DAY A Napa House, Winery Included

Gene Iverson

This private home has views of San Francisco, as well as 39 goats to trim the grass.

GREATER NEW YORK REAL ESTATE The Latest Luxury-Apartment Perk: Alexa Everywhere

Tishman Speyer

Alexa, can you make a splash in the New York City luxury rental-apartment market? That is the question being asked by the developer of Jackson Park, a huge new apartment complex in Long Island City.

New York City Council Grills Housing Chief on Lead-Paint Issue

Bess Adler for The Wall Street Journal

New York City Housing Authority Chairwoman Shola Olatoye told the City Council that she regretted submitting documentation to federal officials showing the agency was in compliance for lead paint when it hadn’t conducted the required inspections in four years.

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