The Real Deal

Wendy Silverstein’s is a 17-year veteran of Vornado Realty Trust who helped grow the company from a $3 billion owner of New Jersey strip malls to a more than $30 billion investment giant, as of 2015, and went on to liquidate New York REIT’s 4.4 million feet of commercial assets. Following a tumultuous year of co-leading WeWork’s real estate investment fund, the former Citibank executive recently teamed up with her old colleague Ed Adler to launch Silver Eagle Advisory Group,... a loan workout firm that will target mounting distress across the real estate industry. Though she has periodically considered retiring she’s been drawn back into the real estate industry by new challenges. Read #TheClosing interview with Wendy Silverstein: http://ow.ly/Up7C50C2McA

Tishman Speyer is jumping on the SPAC bandwagon. The New York landlord is eyeing a $300M raise to take a proptech company public http://ow.ly/8ic350C2KzN

Black homeowners in the U.S. are paying thousands of dollars more for mortgage payments than their white counterparts, according to a new study. The report, co-authored by MIT Golub Center for Finance and Policy executive director Ed Golding, found that Black borrowers pay $13,464 more over the life of a home loan, with higher interest payments, mortgage premiums and property taxes. In all, these differences amount to a loss of $67,320 in retirement savings for black homeowners.

The number of applications to buy homes dropped again last week, marking the fourth consecutive week of declines. The index tracking the volume of purchase mortgage applications fell 2 percent, seasonally adjusted, last week, according to the Mortgage Bankers Association’s weekly survey of the U.S. residential mortgage market.

Actress Jennifer Lawrence has been revealed as the first buyer at Edward J. Minskoff Equities’ boutique condominium in the West Village. Lawrence and her husband, art gallerist Cooke Maroney, closed on the duplex unit for $21.9 million in late July.

Recently retired tennis star Maria Sharapova has picked up some new digs in Santa Barbara County. Sharapova paid $8.6 million for a five-acre ranch on a hilltop in the city of Summerland. Sharapova’s new ranch has three bedrooms, each in a standalone structure. The main house is Balinese in style with a stone terrace overlooking the Pacific Ocean.

Check out our editors' favorite stories of the week. 1. Brookfield: Judge, jury, executioner READ: http://ow.ly/OEkh50C1zGy 2. Four years vacant: Landlord offers dire outlook for Soho building... READ: http://ow.ly/zNJW50C1zGI 3. Mezz lender forecloses on Ocean Drive hotel in South Beach READ: http://ow.ly/YKcY50C1zGR 4. The fine print: Three California ballot measures that would rock real estate READ: http://ow.ly/Ykqw50C1zGN 5. Starwood loses control of another mall in default READ: http://ow.ly/5IXJ50C1zGL #RealEstateNews #TopStories #EditorsPick

On the latest #ReInterview Square Mile’s Craig Solomon discusses his big bet on studio space, today’s capital stack and the dangers of socialism. Read the full interview: http://ow.ly/LroA50C1zly

Across the country, rents are tumbling. Sales have surged in the New York suburbs, and prices with them. But Manhattan apartments are the cheapest they’ve been since 2013. The number of listings have tripled from a year ago while the median rent has dropped 11 percent. Expensive cities have taken the biggest hit. In San Francisco, the median monthly rent for a studio has plunged 31 percent in a year to $2,285 in September. Nationally, that decline is just 0.5 percent.

Uber co-founder and ex-CEO Travis Kalanick has quietly amassed a real estate empire over the past two years. Companies tied to Kalanick’s CloudKitchens, a startup that rents available space to food delivery businesses, have reportedly snapped up more than 40 properties across the country for more than $130 million.

Movie theaters are reopening across the country, but that may not be enough to save some of the biggest cinema operators. AMC Entertainment Holdings, one of the world’s largest movie theater operators, said it could run out of cash by the end of the year if it can’t find additional sources of liquidity. Learn more: http://ow.ly/3z6r50C1yWk

Former NHL superstar and Los Angeles King Wayne Gretzky is selling the Thousand Oaks estate he and his wife Janet built 20 years years ago. The couple listed the 13,000-square-foot Colonial Revival-style mansion for $22.9 million.

As New York City progressed through the different reopening phases over the summer, office landlords pointed to Labor Day as a likely turning point to herald the return of its workers. So far, that hasn’t panned out. On SL Green’s third quarter earnings call Thursday, company executives acknowledged that their predictions had proven overly optimistic. At the properties of New York’s largest commercial landlord, occupancy is still only in the 15 to 20 percent range, in line with the citywide average.

TRD's Spooktober Sale is here! Get 20% off an annual subscription with promo code SPOOKY. Offer ends soon so click here to claim your offer: http://ow.ly/UivK50C1gqB