Mass Development has landed $45 million of construction financing to build a condominium building in Harlem, Commercial Observer has learned. SCALE Lending, a subsidiary of Slate Property Group, provided the 30-month, floating-rate loan with two six-month extension options for the developer’s 11-story condo complex at 264-272 West 135th Street. Mass Development acquired the site — […]
Disgraced music mogul Sean “Diddy” Combs has finally sold the Miami mansion he once put up as collateral in his failed bid for bail in his sex trafficking case—for $55 million while behind bars. The 56-year-old‘s waterfront property became one of the most closely watched celebrity homes in the country after he pledged it as […]
Barclays has announced the appointment of Peter Luck as Chairman of UK Investment Banking, strengthening its leadership team in the bank’s core domestic market. Luck joins from Bank of America, where he served as Head of UK Investment Banking and Head of EMEA Corporate Broking. Before that, he spent 13 years at UBS, building a […]
“It’s a very, very, very big market,” he said. “In fact, it’s a bigger market than the overall traditional market as a whole.” The distribution gap between reverse and conventional is part of what he’s hoping to address, Peskin said. Reverse mortgages are offered by approximately 2% of originators while HELOCs are offered by the […]
Gov. Kathy Hochul will sign an executive order on Tuesday pausing hyperscale data center development in New York, making it the first state to enact such a ban. The order will bar the state from approving permits for projects that use 50 or more megawatts of power for one year while officials develop a regulatory […]
Of that, $2.2 billion, or nearly 60%, was driven by the top 1% to 5% segment, which posted a 7.8% increase year-over-year and captured 42.8% of single-family dollar volume in May 2026. The median sold price for the top 5% rose 8% year-over-year, while the broader top 10% trailed at 4.7%. Cash is the accelerant. Almost […]
As AI gets better and better at writing code, where does that leave software engineers? And, how does it impact the the companies they work for? Business Insider set out to answer these questions with a multi-part series, The Great Coding Reset. The fear that AI will make legacy software giants irrelevant has rattled markets. […]
Every year, many taxpayers are tempted to inflate or falsely claim deductions in their income tax returns to reduce their tax liability. This could include claiming deductions for investments that were never made, overstating medical or education expenses or submitting fabricated receipts. While such claims may seem like an easy way to save tax, they […]
The Real Estate Board of New York took a legal drubbing in its bid to bust the city’s apartment broker fee bill. A federal appeals court has quashed the board’s effort to revive key claims in its battle against the Fairness in Apartment Rental Expenses, or FARE, Act, Crain’s New York reported. The U.S. Court […]
Bank bonuses have reached their highest levels since the 2008 financial crisis, prompting calls for a hike in the windfall tax to help struggling households with their energy bills. Analysis of bank bonus data by the Trades Union Congress (TUC) shows £25 billion was paid out in bonuses in the financial year ending in March […]