PHILIPSTOWN, N.Y. — Fox News founder Roger Ailes was a major property owner in this town across from West Point on the Hudson about 50 miles upriver from New York. But the 77-year-old was divesting his holdings here at the time of his death Thursday. "In the past couple of years, he has put several of those properties on the market," said Bill Hussung, a real-estate broker and owner of Robert A. McCaffrey Realty in Cold Spring, N.Y. He and his wife, Elizabeth, had a reason they had accumulated a real-estate portfolio in an area along Beverly Warren Road, Hussung said. "He famously bought a really gorgeous property on top of a mountain overlooking Boscobel and Cold Spring and then bought surrounding properties to keep them open" so that they had no neighbors, Hussung said. "That’s kind of a famous real-estate story that has been always told about Roger." ► Death: Fox News mastermind Roger Ailes dies at 77, a year after being ousted ► Legacy: … [Read more...] about Roger Ailes was selling parts of his New York real estate
Millions of Americans own rental homes. Some people got into this business by purchasing houses or condominiums specifically for this purpose, while others converted their former residences or decided to lease out inherited properties. However they got involved, these small-time landlords likely had one thing in common — a lack of detailed knowledge about the profit potential they could expect from rental investments. A new study might change that. Single-family homes in large U.S. cities have generated returns of about 9 percent annually on average, according to the study, which examined results from 1986 to 2014. STUDY: Phoenix ranks 9th most unaffordable city for renters That would make rental homes almost as potentially lucrative as stocks and considerably more so than bonds, deposit accounts and other conservative instruments. Single-familyrental homes are worth an estimated $2.3 trillion. That 9-percent historic return was higher … [Read more...] about Real estate investment: Owning a rental home is almost as lucrative as buying stock
MOSCOW — Elena Y. Kotova’s one-room apartment on the outskirts of Moscow had started to feel cramped. Her son was almost 4 years old. She and her husband had solid jobs, she as an economist and he as a manager of a construction company. It was time to buy a new home. “We just need the space,” she said. They found a two-bedroom apartment and secured a mortgage as well as a buyer for their former home. As closing day approached, the couple had one task to complete. Each would need a certificate of sanity from a psychologist. “They will look at our psychological state,” she explained. “If everything is normal, they will give us the document.” Ms. Kotova, and tens of thousands of other Russians who are required to produce such a document to sell property, have no history of mental illness. The certificate, which must be signed and stamped by a doctor, is a legal defense against a pervasive problem in Moscow real estate deals: rampant fraud … [Read more...] about Selling Real Estate in Russia? Are You Crazy?
Corrections/clarifications: The investigation is looking into the conduct of Jane Sanders. An Associated Press headline on an earlier version of this story misstated the target of the inquiry. MONTPELIER - Federal investigators are looking into the finances behind a real estate deal for a now-defunct college put together by Jane O'Meara Sanders, the wife of U.S. Sen. Bernie Sanders. She has hired a lawyer to look after her interests, a family spokesman confirmed Monday. The investigation, first reported by the news website VTdigger.org, is looking into allegations that Jane Sanders made fraudulent claims and promises while seeking $10 million in financing for the real estate deal. The complaint against Jane Sanders was filed in early 2016 by attorney Brady Toensing, who served as the Vermont campaign chairman for Donald Trump during his run for president as a Republican. In a separate complaint, Toensing alleged that Bernie Sanders' senatorial office pressured a bank to approve … [Read more...] about Feds looking into Jane Sanders over real estate deal
FOR SALE $12.8 MILLION 13-15 Christopher Street (between Waverly Place and Greenwich Avenue) Manhattan These two contiguous walk-ups in the West Village, totaling 6,480 square feet, and an 1,800-square-foot carriage house in the rear are available across the street from the Jefferson Market Garden. The six market-rate apartments — three four-bedrooms, two two-bedrooms and the six-bedroom carriage house — have new plumbing, flooring, heating, electricity and air-conditioning. There is also an unrenovated rent-stabilized studio. Occupying the four commercial spaces, each 800 square feet, are a women’s clothing boutique and a letterpress shop on the ground floor, and a coffee shop and a men’s spa below street level. The cap rate is 4 percent. Seller: Six Avenue Chelsea Brokers: Zachary Ziskin, Ethan Frank, Adam Lobel and Justin Zeitchik, Bestreich Realty Group RECENT SALE $25.5 MILLION 992-996 and 998 Amsterdam Avenue (at West 109th Street) Manhattan A real … [Read more...] about Recent Commercial Real Estate Transactions