WSJ Real Estate
COMMERCIAL REAL ESTATE You Got Priced Out of ... Philadelphia? The Spread of Hot Housing Markets
Scott Calvert/The Wall Street Journal
The gentrification of Philadelphia’s Fishtown neighborhood looks like something city planners dream of, with developers renovating old row houses as young professionals, along with new restaurants and businesses, pile in. But home prices have shot up so quickly in recent years that the latest wave of young professionals say they are having a hard time making the finances work. Now several Philadelphia City Council members want to pass a law requiring property developers to set aside 10% of new projects as below-market units.
- A Fight Over the Credit Score Lenders Use for Your Mortgage
David Paul Morris/Bloomberg News
Private-equity funds that focus on real estate have been raising less money for the past few years and chances are dim that there will be much pickup in fundraising in 2018. A big part of the slowdown is that private-equity funds haven’t been able to spend all the money they have raised.
- London Real Estate Divide Highlights Sector’s Uncertainty in 2018
- U.S. Office Market Softened in 2017
- Peak Commercial Real-Estate Prices Force Investors to Get Creative
As 2018 gets under way, developers are coming up with new ways to feed what seems to be an insatiable appetite among the world’s emerging middle class for apartments both as places to live and investments to store their wealth. Consider what has been happening in Singapore.MANSION Renters Love the Gym—but Only in Theory
Resolving to get more exercise in 2018? Recent research suggests that’s probably not going to happen. In a survey of renter preferences across the U.S., 82% of renters say an on-site fitness center is an important building amenity, with 55% saying they wouldn’t rent in a property without one. Yet 42% of the respondents say they rarely or never use their fitness center—a significant gap between people’s exercise ambitions and their follow-through.Miami Beach Spec Home With Meditation Garden Asks $38 Million
A South Florida spec home with a glass-enclosed gym and a “meditation garden” is listing for $38 million. Located in a gated community on La Gorce Island in Miami Beach, the newly built waterfront home measures about 11,000 square feet, with seven bedrooms, a swimming pool and a dock on Florida’s Biscayne Bay.Singer Petula Clark Fled the Blitz and Found Bliss in ‘Bewitching’ Wales
Brad Trent for The Wall Street Journal
In this week’s House Call, the British pop star whose U.S. hits include ‘Downtown,’ recalls a memorable year living with her grandparents.
- Three Homes That Let You Step Up in Style
The owners gave this Classic Six co-op on the Upper East Side a facelift, with an open floorplan and modern design details.GREATER NEW YORK Decades in the Making, Manhattan’s Essex Crossing Project Secures Fresh Loan
The development group behind a $1.5 billion project in New York City’s Lower East Side has secured the construction financing needed to move forward with the site’s largest building. Delancey Street Associates closed a deal for a $200 million construction loan from Wells Fargo & Co. and M&T Bank , allowing the group to proceed with the 26-story tower at 180 Broome St. that is part of Essex Crossing, a development decades in the making.