Summit Properties last week won its battle to purchase a portfolio of thousands of New York apartments from Pinnacle Group. Pinnacle put the collection of mostly rent-stabilized units into bankruptcy and held an auction for a buyer, with Mayor Zohran Mamdani and groups of tenants trying unsuccessfully to stop the sale.  Here’s the deal by the numbers, according to court documents and disclosures Summit made on the Tel Aviv Stock Exchange, which it has tapped for financing: $451.3 million bid Summit won a bid to purchase the bankrupt portfolio for $451.3 million.  That works out to approximately $87,000 per unit […]

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Nursing home operators Daryl Hagler and Kenneth Rozenberg are facing more pressure from a New Jersey state agency for misusing Medicaid funds The New Jersey Office of the State Comptroller sued Hagler and Rozenberg along with their associates for “exploiting the operation” of two nursing homes, the Deptford Center for Rehabilitation and Healthcare and Hammonton Center, according to NJ.com. The watchdog agency said it found pervasive, systemic and longstanding violations of law and a “troubling pattern” of profiteering by Hagler, Rozenberg and their associates. The comptroller filed the lawsuit on Monday in Superior Court in Mercer County, according to the […]

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Philadelphia’s city government and organized construction labor interests are becoming even more entwined as they team up to fund repairs at a public senior housing complex.

“You’ve found us a brownstone, said, ‘You want it? It’s yours,’” Lily Allen sings on her newest album “West End Girl,” which details the dissolution of her relationship with actor David Harbour.  Now, that brownstone is going to be somebody else’s.  Allen and Harbour found a buyer for their home at 381 Union Street in Carroll Gardens, according to StreetEasy. The townhouse had a last asking price of $7.3 million.  Allen and Harbour, who married in 2020, listed the home for just under $8 million on Oct. 26, 2025, two days after Allen released her album that all but confirmed […]

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He transformed his Japanese photo booth business into a gaming industry game giant that created Mortal Kombat, Sonic the Hedgehog and more.

Los Angeles Lakers coach JJ Redick has kept his team’s record afloat this year despite injuries to star players like LeBron James and Austin Reaves.  The same can’t be said for the asking price of his Dumbo penthouse. But after dropping the ask to just under $6 million, Reddick found a buyer for the duplex atop 51 Jay Street, according to Compass’ weekly report for contracts signed on homes asking at least $2 million from Jan. 12 to Jan. 18.  Reddick bought the home for nearly $6.1 million in 2017, according to public records. In 2021, he listed the nearly […]

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A major player in buy-now, pay-later loans plans to offer its installment services to apartment tenants to help them pay their monthly rent. 

Gov. Kathy Hochul’s opening salvo of budget negotiations leaves tax hikes off the table and suggests tweaks to a tax incentive for renovating multifamily housing. Hochul on Tuesday proposed a $260 billion state budget for fiscal year 2027. Despite pressure from the left to increase corporate and income taxes, the governor kept rates flat, only proposing to extend the top corporate tax rate (7.25 percent) through 2029, according to an overview provided by the governor’s office. The corporate tax rate was slated to expire at the end of this year.  “This is not an austerity budget, but it is a […]

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Heitman closed its latest fund with $2B in capital commitments, the largest raise in the Chicago-based real estate investment firm’s history. 

President Trump may be on the verge of having his authority on imposing tariffs curtailed, but that hasn’t slowed down his threats.