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NYC’s ‘Worst Landlord’ Faces Return to Prison for Not Repairing Properties

NYC’s ‘Worst Landlord’ Faces Return to Prison for Not Repairing Properties

by Phil Hall | Aug 6, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

A Manhattan landlord who holds the notorious distinction as topping the “worst landlord” list published by the New York City Public Advocate could be going back to prison for failing to make hundreds of court-ordered repairs at the two apartment buildings he owns....
Owner of Trump’s Former DC Hotel Loses Rights to Property

Owner of Trump’s Former DC Hotel Loses Rights to Property

by Phil Hall | Aug 6, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The investment firm that acquired the Washington, D.C., hotel formerly operated by former President Donald Trump’s company has lost the property in a foreclosure auction two years after buying it for $375 million. The Wall Street Journal reported Miami-based CGI...
Virtú Investments Acquires San Diego Multifamily Property

Virtú Investments Acquires San Diego Multifamily Property

by Phil Hall | Aug 6, 2024 | News/Current Events, Real Estate Investing, Real Estate News, WRE News Exclusive

Virtú Investments, a multifamily real estate investment firm focuses on the western states, has acquired ALX, a 313-unit multifamily property in San Diego. The 19-story ALX was built in 2017 in the city’s Ballpark District neighborhood and also features 2,600 square...
Australian Ex-Real Estate Agent Sentenced for Pilfering Clients’ Deposits

Australian Ex-Real Estate Agent Sentenced for Pilfering Clients’ Deposits

by Phil Hall | Aug 6, 2024 | International Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

A former real estate agent in Australia was sentenced to four months in prison for misusing his clients’ homebuying deposits. News.com.au reported Justin Scavo, who was sole director of Revolve Real Estate, started withdrawing money from the trust accounts of four...
Survey: One in Five Buyers Willing to Sacrifice Safety for Affordable Home

Survey: One in Five Buyers Willing to Sacrifice Safety for Affordable Home

by Phil Hall | Aug 5, 2024 | Industry Updates, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Nearly one in every five (17.3%) house hunters are willing to sacrifice their physical safety to find a home they can afford within the next year, according to a new survey of 3,000 homeowners and renters from Redfin (NASDAQ:RDFN). Among age demographics, nearly one...
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