Monday, 16 March 2026

Investing

Casa Casuarina: Various Things the Versace Mansion Could Become

Just like overambitious parents fussing over what their baby would grow up to be, the world is speculating about the future of the famous Casa Casuarina. The mansion once belonged to late fashion mogul Gianni Versace, founder of couture brand 'Versace,' and was sold to VM South Beach LLC for $41.5 million in an auction held September.

Empire State Building IPO Disappoints; Raises $929.5 Million at $13 per Share

The Empire State Realty Trust (ESRT) debuted on the New York Stock Exchange Wednesday, raising $929.5 million in its Initial Public Offering (IPO) pricing 71.5 million shares at $13 per unit, according to several news reports. The IPO under-performed, gaining only a modest 3 percent in early trading.

Gong Aiai ‘House Sister’ Sentenced to 3 Years Prison for Real Estate Fraud in China

A rural bank deputy officer, Gong Aiai, nicknamed ‘House Sister’ was sentenced to three years of prison by a Jingbian County Court in Yulin City of Shaanxin Province in China, Sunday, September 29, for forging multiple identities to purchase properties in and around the province, according to several news reports.

EDITOR'S PICKS

Mumbai’s Beach-Facing Residence Sells for Record $215,276 per Square Feet; Most Expensive Deal of India

In the latest blockbuster real estate news, a beach-facing duplex condo in the tony Darshan Apartments on Mount Pleasant Road, South Mumbai, sold for a record $9.08 million at $215,276 per square feet, according to several news sources.
By Rapti Gupta
Empire State Building REIT Seeking up to $1.07 Billion in IPO; To Debut October 1

Empire State Realty Trust Inc, the real estate investment trust that snaked its way through various controversies is all set to launch October 1. It plans to launch an Initial Public Offering (IPO) of 71.5 million shares at $15 to $13 a share, seeking up to $1.07 in its debut offering, according to a regulatory filing Thursday.
By Rapti Gupta
Westfield Selling 7 US Malls to Starwood Capital Group for $1.6 Billion

Westfield Group, the Australia-based property giant has reportedly entered into an agreement to sell stakes in seven of its malls in the U.S. to Starwood Capital Group for about $1.6 billion. Westfield is selling in order to consolidate its American portfolio and raise capital to focus on planned development projects.
By Rapti Gupta
Malkins to Go Ahead with the Empire State Building IPO Plan; Reject All Bids

After a lot of controversy, debate and delay on the decision to roll the iconic Empire State Building into a public real estate investment trust (REIT), Malkin Holdings LLC, the company that manages the building announced Friday that they will be proceeding with the Initial Public Offering (IPO) plan. They have rejected all the bids that were offered to buy the portfolio, according to several news reports.
By Rapti Gupta
The Real Estate Industry and the New York Mayoral Race

The real estate sector is one of the most important contributors of the economy. However, the sector’s influence is not limited to the economy. Looks like, the segment is influencing a lot of the economy runners as well.
By Rapti Gupta
Updated Renderings of Amazon’s Proposed Seattle Headquarters Revealed (VIDEO)

Amazon, the retailing giant has tweaked plans of its proposed headquarters in Seattle City and updated its renderings. The new plan will be presented to the Seattle Department of Planning and Development (SDPD) this week, according to several news reports.
By Rapti Gupta
Zillow to Acquire New York Based StreetEasy for $50 Million

Real estate website Zillow has reportedly entered into an agreement to purchase StreetEasy, another popular New York real estate listing site, for approximately $50 million cash the company announced in a press release Monday, August 19, 2013.
By Rapti Gupta
More American Homes Sold through Complete Cash Transactions: Goldman Sachs Survey

Almost all homes that sold in 2012 and in the first half of 2013 were financed by all-cash transactions, a new survey by financial firm Goldman Sachs Group found.
By Rapti Gupta
Blackstone Buying Multifamily Residential Portfolio from General Electric for $2.7 Billion

Blackstone Group LP has reportedly agreed to purchase a large multifamily residential portfolio from General Electric’s financial arm for a deal worth $2.7 billion. Blackstone will be acquiring about 80 apartment buildings from GE in an effort to maximize its presence in the U.S. residential property market, according to several media reports.
By Rapti Gupta
UAE Commercial Real Estate Mapping Speedy Recovery: RICS Survey

The commercial real estate market of the United Arab Emirates has been rebounding and showing great signs of recovery, according to a recent quarter survey by the Royal Institution of Chartered Surveyors (RICS). Due to increased foreign investment and interest in the sector, the region’s growth has accelerated commendably.
By Rapti Gupta