Billionaire Stephen Ross Believes in South Florida—and Is Spending Big to Transform It
The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
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The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
Real estate brokerage stocks tumbled Thursday on waning expectations for Federal Reserve interest-rate cuts, and as a disappointing earnings release raised concern about the sector’s outlook.
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration.
A South Florida office skyscraper from Related Cos. landed new finance tenants, including a John Paulson business and a private equity firm that counts Mark Bezos as a founding partner.
Oracle Corp. is moving its headquarters out of the city. Tesla Inc. is pulling back after a rapid expansion. Almost a quarter of commercial office space is vacant, and nowhere in the country have residential real estate prices fallen further from their pandemic peak.
Apr 15, 2021
Bloomberg News
,(Bloomberg) -- The pickings are getting slimmer for homebuyers in Greenwich, Connecticut.
Frenzied shoppers seeking a slice of suburban life sent listings plummeting 44% in the first quarter from a year earlier, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. It was the biggest annual decline in records going back to 2014.
“Everything that’s not tied down seems to be selling,” said Jonathan Miller, president of the appraisal firm.
Single-family home sales in the posh New York suburb jumped 94%, with 200 properties changing hands. The median price of those deals was $2.24 million, a 31% increase.
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