• Real Estate

    Richmond Dragway crosses finish line with $3M sale to real estate investor

    For decades, the Richmond Dragway ran around 75 events per year at its track. (Courtesy of Richmond Dragway) The family behind the longtime Richmond Dragway has cashed out its real estate, marking the final chapter of nearly 60 years of racing on the eastern Henrico site. The quarter-mile dragstrip and its 72 acres at 1955 Portugee Road in Sandston sold in late December for $3.2 million. The buyer was an entity tied to Maryland-based investment firm Greenspring Realty Partners, county records show. Johnny Davis The seller was the Weis family, led by Johnny Davis, whose great-grandfather Pop Weis and great-uncle Dan Weis opened the track in 1964. Davis had been…

    Comments Off on Richmond Dragway crosses finish line with $3M sale to real estate investor
  • Real Estate

    Fargo, North Dakota, real estate: What you can get for $1.4M

    FOX Business’ Madison Alworth explains how homeowners and renters alike are feeling market pressure as mortgage and rental costs surge. Fargo, North Dakota, was founded in 1871 on the Red River, and is now the largest city in the state with a population of over 125,000. The city serves as a cultural center for the southeastern part of the Peace Garden State, with an array of events offered at its Fargodome and Civic Center, along with a host of museums and outdoor recreation.  Besides kid-friendly attractions like Thunder Road Family Fun Park in the warmer months and ice skating in Broadway Square in the winter, Fargo has an array of…

    Comments Off on Fargo, North Dakota, real estate: What you can get for $1.4M
  • Real Estate

    Shimao jumps on report it’s selling all of its real estate projects

    Pedestrians near the Riviera Garden residential property, developed by Shimao Group Holdings Ltd., in Shanghai, China, on Saturday, Jan. 8, 2022. Qilai Shen | Bloomberg | Getty Images Shares of Shimao spiked more than 20% on Monday after Chinese business publication Caixin reported the embattled developer is selling all of its real estate projects, both residential and commercial. As debt worries within China’s real estate sector mount, developers such as Evergrande have been attempting to sell off their assets in recent months to ease the cash crunch. The rally marked a turnaround from Friday’s session when Shimao’s stock plunged nearly 17% after Reuters reported it failed to make full repayment…

    Comments Off on Shimao jumps on report it’s selling all of its real estate projects
  • Real Estate

    Inside Jeff Bezos’s Massive Real Estate Portfolio

    The Amazon founder splurged on a trio of Manhattan apartments overlooking Madison Square Park in early 2019, paying a total of $80 million. The Wall Street Journal reported at the time that Bezos’s over-the-top purchase could be one of the most expensive real estate transactions in New York City for the year. (Ultimately, however, a $240 million Manhattan penthouse beat out Bezos’s jaw-dropping purchase.) The acquisition included a three-floor, 10,000-square-foot penthouse with a grand ballroom, a three-bedroom unit below that with high-end finishes, and an adjoining four-bedroom pad with oversized windows on three of its four sides. 2020 The Blue Origin founder kicked off the year with the purchase of…

    Comments Off on Inside Jeff Bezos’s Massive Real Estate Portfolio
  • Real Estate

    Springfield, Illinois, real estate: What you can get for $1.4 million

    National Association of Home Builders CEO Jerry Howard weighs in on the supply chain and labor shortages in the real estate market and how it impacts consumers. Springfield, Illinois, is known for being the hometown of 16th President Abraham Lincoln and the capital of the Land of Lincoln.  The city’s many historical sites such as the Abraham Lincoln Presidential Library and Museum draw in tourists, along with kids’ attractions, outdoor venues, and a vibrant downtown. Abraham Lincoln presidential library and museum. Springfield, Illinois. (Holly Hildreth / Contributor / Getty Images) Another Springfield asset enjoyed by visitors and residents alike is Lake Springfield, a municipally-owned manmade body of water that supplies…

    Comments Off on Springfield, Illinois, real estate: What you can get for $1.4 million
  • Real Estate

    Has the residential real estate market in N.J. peaked? Here’s what industry experts say.

    Double-digit price growth. Low inventory. Cheap interest rates. Residential real estate has been in a frenzied boom since the pandemic began. Buyers have been grappling over homes by waging bidding wars and running prices up tens of thousands of dollars above asking. But, has the market finally peaked? Industry experts are saying, it depends from which angle you measure the peak. “Yes, it has peaked, in terms of the number of home sales,” said Jeffrey Otteau, a real estate economist and president of the Otteau Group. “From this point forward, we’re seeing fewer home sales occur, which will continue into next year.” Home sales were down for each of the…

    Comments Off on Has the residential real estate market in N.J. peaked? Here’s what industry experts say.
  • Real Estate

    Crypto kids are buying up real estate by the penthouse load

    On a recent afternoon, a group of bros worth billions gathered in a Park Avenue penthouse.  Precisely, the top, 96th floor of 432 Park Ave. — a sprawling six-bedroom palace in the sky that is on the market for a staggering $169 million — 1,396 feet above street level.  It’s currently the most expensive listing in the city.  “The first thing everybody does is go straight to the windows. The views are completely insane,” said Ryan Serhant, the skypad’s listing broker and reality TV star.  The full-floor skypad stretches from a breakfast bar overlooking Central Park to great rooms and libraries looming over the downtown skyline — and the views…

    Comments Off on Crypto kids are buying up real estate by the penthouse load