Real estate investors ran $230M Ponzi ploy to recoup shareholders

Executives of investment firm iCap ran the scheme from 2013 to 2022, a federal bankruptcy judge ruled this week. They turned to the scheme when their real estate portfolio failed to yield results. Continue reading

Floyd Mayweather Jr. to acquire $402M Black Spruce portfolio

The deal, one of the city’s largest this year, involves 1,000 units and more than 60 buildings across Upper Manhattan in New York City. Part of the portfolio closed Wednesday, according to reports. Continue reading

With $184M, Backflip to offer residential transition loans

The mobile-forward fintech company that marries real estate investment search and analysis with streamlined financing has raised a $184 million through two private credit funds, one a $30M of equity, the other is asset-backed financing of $154 million. Continue reading

Secret Service agent sold homes to subordinates — they got promoted

Alfonso M. Dyson moonlighted as a real estate agent in Annapolis, Maryland, while he was second-in-command of the Secret Service’s uniformed division. After he was promoted to chief, his subordinates who had done real estate business with him were also… Continue reading

Builders shift to townhomes and condos to tackle housing shortage

This shift in strategy reflects a growing need for more affordable and space-efficient housing options amid rising costs and limited land availability, according to a new analysis from Zillow released Thursday. Continue reading

DOJ’s data sharing statement has implications for MLSs, associations

The DOJ’s recent statement, made in relation to a lawsuit against pork producers, notes that the sharing of information among competitors could violate antitrust law “even without proof of an agreement to fix prices.” Continue reading

Recent survey highlights housing priorities ahead of 2024 election

According to the survey, approximately 41.6 percent of U.S. homeowners believe that Donald Trump is best suited to maintain high home values, while 35.3 percent favor Kamala Harris for this role. Although homeowners generally see high home values as be… Continue reading

Compass scoops up NYC star agent from The Agency

Daniel Blatman also previously worked at Douglas Elliman and Triplemint. He joins Compass during a period of intense competition for top-producing agents. Continue reading

Lundy, Restb.ai connect voice search with vision-impaired buyers

By integrating with Restb.ai’s proven AI, Lundy’s application should quickly enhance its overall accuracy in search returns, including being more specific about home characteristics specific to the needs of visually impaired buyers. Continue reading

The cost to save NYC’s birds from the threat of windows? 50% more

This new legislation, introduced by council members Tiffany Cabán and Shaun Abreu, aims to address the risks posed by older buildings that were not covered by Local Law 15 and prevent bird collisions, which account for the death of approximately 250,00… Continue reading