From left: Zoe Ma, a rendering of 701 Seventh Avenue and Nick Mastroianni (Credit: PBDW Architects, and Nicholas Mastroianni) An EB-5 activist known for organizing Chinese investors filed a racketeering lawsuit against Nicholas Mastroianni and his regional center, U.S. Immigration Fund — the latest legal battle between the two parties. The complaint repeats allegations that […]
After surpassing revenue target in 2018, CoStar reveals ambitious goal for 2023
CoStar CEO Andy Florance (Credit: CoStar via YouTube and Pixabay) Real estate data giant CoStar Group exceeded $1 billion in revenue in 2018. And by the end of 2023, it hopes to roughly triple that figure to $3 billion. Though tumult in the stock market contributed to a dip in CoStar’s market value, the company […]
Realogy profits nosedive in 2018
Ryan Schneider (Credit: iStock) With no boost from changes to the U.S. corporate tax rate and a “tough” national housing market, Realogy Holdings’ profits dropped 68 percent to $137 million in 2018. The final quarter of 2018 was particularly difficult, with the New Jersey-based conglomerate losing $22 million compared to net income of $255 million […]
Ahead of restructuring, Re/Max’s revenue ticked up in Q4
Re/Max CEO Adam Contos Re/Max’s yearly and quarterly revenues are up, despite a “correcting market,” the company disclosed in an earnings report Thursday. Revenue at Re/Max rose 4.8 percent in the fourth quarter of 2018, hitting $50.8 million, according to reporting by Inman. This was higher than the previous consensus estimate of $50.27 million. Net […]
Saudi investors uneasy with how Son is running his $100B Vision Fund
Mohammed bin Salman and Softbank CEO Masayoshi Son (Credit: Getty Images) Softbank Group is again receiving pushback from major investors disgruntled with its brash investment decisions in tech firms that have been led by an increasingly powerful Masayoshi Son. The sovereign wealth funds of Saudi Arabia and Abu Dhabi, the main investors in the firm’s […]
New Russia sanctions bill targets LLCs in real estate, again
From left: Lindsey Graham, Bob Menendez, and the Foreign Security Council, Take 2 (Credit: Getty Images, Pixabay, and Wikipedia) The “sanctions bill from hell” is back from the dead. Republican Senator Lindsey Graham (SC) and Democratic Senator Bob Menendez (NJ) on Wednesday introduced a tougher version of last year’s “Defending American Security from Kremlin Aggression […]