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New York (AFP) - New York's iconic Flatiron Building was auctioned off Tuesday for $161 million to a group of investors led by real estate developer Jeffrey Gural, after the previous bidding's winner failed to complete the transaction, organizers said. The sale of the world-famous skyscraper took place outdoors in lower Manhattan with seven bidders registered and about a hundred people present, Mannion Auctions told AFP. The property -- on a wedge-shaped lot at the intersections of Fifth Avenue, Broadway and 22nd Street -- went to Gural, 80, one of its five current owners, who was the second h...
AFP
Schriever (United States) (AFP) - Joann Bourg stands in front of her new home, about an hour's drive from the low-lying Louisiana island where she grew up -- an area gradually sinking into the Gulf of Mexico. "I'm very excited. I can't wait to just move on in," Bourg told AFP. "I've been waiting for this day forever." Bourg is one of about a dozen Native Americans from the Isle de Jean Charles who have been relocated to Schriever, less than 40 miles (60 kilometers) to the northwest -- the maiden beneficiaries of a federal resettlement grant awarded in 2016. They are the first so-called "climat...
AFP
New York (AFP) - The rise of e-commerce and the logistical nightmare created by the Covid-19 pandemic have caused a surge in demand for warehouse space in the United States, and big investment funds have taken note. "It's been a tremendous struggle to find the appropriate location for clients," said Michael Schipper of Blau & Berg, a commercial real estate specialist in New Jersey and New York. Available space has been dwindling steadily for a year and a half, and the vacancy rate is now 3.4 percent, although developers delivered 90 million square feet of new warehouse space in the first three...
AFP
New York (AFP) - Former US President Donald Trump has paid a $110,000 fine for obstructing a major tax evasion investigation led since 2019 by New York state authorities, a spokesperson announced Friday. Trump was ordered April 25 by New York state's Supreme Court to pay $10,000 a day for as long as he refused to provide accounting and tax documents as part of a civil investigation by the Attorney General of the state, Letitia James, against the Trump Organization family business. "On May 19, Donald Trump paid the attorney general's office $110,000," a spokesperson for James's office said. Ja...
AFP
New York (AFP) - In one of the priciest sales in New York real estate history, a four-bedroom penthouse apartment overlooking Central Park was purchased for $190 million, the Wall Street Journal reported Thursday. The seller, scandal-tainted American billionaire Daniel Och, bought the apartment only two years ago for half the price at $93 million, according to the Journal. The 9,800 square-foot (900 square-meter) apartment, located at 220 Central Park South in the heart of Manhattan, was one of the most expensive sales ever in New York, according to the Journal. The paper said it went to an an...
AFP
New York (AFP) - The Trump Organization has reached a deal to sell its Washington hotel lease for $375 million to CGI Merchant Group, which plans to remove ex-president Donald Trump's name from the luxury property's facade, US media reported Sunday. The Miami-based investment fund has struck a separate agreement with Hilton Worldwide Holdings to rebrand the Trump International Hotel as a Waldorf Astoria, according to the Wall Street Journal. Contacted by AFP, CGI declined to comment. The Trump Organization and Hilton group also did not immediately return requests. The historic building just a ...
AFP
Washington (AFP) - The Chinese economy, weighed down by electricity shortages and a vast real estate crisis, has lost its luster recently, to the point where economists are starting to question its impact on the global growth it has helped drive for more than 20 years. The difficulties of the real estate sector in China triggered by the troubles of giant Evergrande could pose risks for the world economy and affect the United States, the Federal Reserve warned in its report on financial stability released Monday. That is a marked change of tone from September, when Fed Chairman Jerome Powell s...
AFP
New York (AFP) - Google announced on Tuesday plans to buy a New York City office building for $2.1 billion, confirming its push into America's largest city despite the pandemic teleworking trend. According to Real Capital Analytics, quoted by the Wall Street Journal, this is the largest real estate purchase in the United States for an office building since the beginning of global spread of Covid-19. Google already rents the premises in Manhattan, which are located on the site of a former railroad terminal in the Hudson Square neighborhood. The Silicon Valley giant envisions a campus with a ...
AFP
Miami (AFP) - The death toll in last month's collapse of a Florida apartment building has now risen to 90, officials said Sunday, with another 31 people still unaccounted for after the tragedy. Champlain Towers South, a 12-story building built in 1981 in Surfside, a town north of Miami Beach, came tumbling down on June 24, as dozens of residents slept inside. "The number of confirmed deaths is now 90. Seventy-one victims have been identified," Miami-Dade County Mayor Daniella Levine Cava told a daily briefing, adding that 217 people are accounted for and 31 people remain "potentially unaccount...
AFP
Surfside (United States) (AFP) - Searchers recovered two more bodies to bring the death toll in the Florida apartment block collapse to 24, authorities said Saturday, as the search for victims paused in the afternoon so demolition crews could prepare to bring down the part of the building still standing. The razing took on special urgency as Tropical Storm Elsa churned in the Caribbean, following a path expected to bring it to Florida early next week. "Search and rescue does have to pause temporarily while the demolition preparation is underway. There is threat to the standing building that is...
AFP
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