Miami-based investment firm CGI Merchant Group purchased the luxury hotel in 2022 for $375M with a $285M loan from BDT & MSD Partners. By 2023, the firm had defaulted on its debt
Shares in Offerpad hit new all-time low in after-hours trading Monday after the iBuyer reported that it continues to trim its losses but expects further declines in revenue and homes sold in Q3
Despite safety ranking high among buyer concerns, house hunters say they're willing to consider purchasing in a high-risk area in exchange for affordable housing, according to a new report
The US Navy will expand a toxic remediation project at the Hunter's Point Shipyard after radioactive findings at the site
Declining mortgage rates may finally be bringing some buyers back to the table. But agents will need to see more before they change their skeptical outlook, Inman Intel Index results suggest
Jobs reports trigger recession fears, sending rates on 30-year fixed-rate mortgages plunging to new 2024 lows as investors rotate out of stocks and into bonds and MBSs that fund home loans
Redfin's latest report revealed the average buyer's agent's commission percentage has declined in 47 of the 50 largest markets since NAR's March settlement
For about the last 4 years, home price growth in the overall market outpaced growth in the luxury sector every month. But since January 2024, that trend has reversed, Zillow reported
Home prices and sales have declined as the demand from all buyers, including investors and buyers interested in building homes, has cooled, according to CoreLogic
The iBuyer's revenue declined 24% year over year to $1.5B as losses hit $92M, down from positive income of $23M the previous year
The franchisor's revenue remained flat year over year as it had to make significant payments during the quarter to address the commission lawsuit settlement and a 1999 tax matter
Robert Reffkin said clear cooperation forces homeowners into a system that attaches 'negative insights' to listings, and predicted the polarizing anti-pocket listing rule is ultimately doomed
Fed policymakers are acknowledging that while they're determined not to cut rates until inflation is tamed, they're also worried about waiting too long and throwing the economy into a tailspin
Compass brought in $1.7B in revenue between April and June, and managed to add thousands of real estate agents to its ranks, according to Q2 earnings released Wednesday
Pending home sales rose 4.8% in June, with all 4 US regions showing monthly gains in contract signings, the National Association of Realtors reported on Wednesday
In June, 5 of the top US markets showed improvement in housing affordability and supply, according to First American, while other markets with more inventory still saw rising costs