The Real Deal (Los Angeles)

21 hours ago | therealdeal.com | Sheridan Wall

Adellco snagged a bulk buyer for all 20 condos at its Flatiron conversion project, The Real Deal has learned. The buyer, which the developer identified as a private family office, agreed to buy the units and the commercial space at the 114 East 25th Street property for $71 million, on par with the $73 million sellout noted in the building’s offering plan.

1 day ago | therealdeal.com | Sheridan Wall

The Hamptons’ high season is fast approaching, and the residential market is hot in anticipation. Home prices hit record highs last quarter as sales surged in the luxury enclave, according to Miller Samuel’s quarterly report for Douglas Elliman. A steady increase in listing inventory fueled gains in the South Fork, along with a banner year for profits and bonuses on Wall Street — an industry “joined at the hip” with the region, said report author Jonathan Miller.

1 day ago | therealdeal.com | Katherine Kallergis

Tensions ran high during a Miami Beach commission meeting on Wednesday over the Meruelo family and David Martin’s proposed redevelopment of the Deauville Beach Resort. The Meruelo family and Terra plan a 120-unit condo and 150-room hotel project on the 3.8-acre oceanfront site at 6701 Collins Avenue. The project, with two condo buildings and the hotel, would be designed by Foster + Partners, Shulman + Associates and ODP as the project architect.

1 day ago | therealdeal.com | Katherine Kallergis

A waterfront Miami Beach home owned by disgraced agent Oren Alexander hit the rental market for $55,000 a month. The 4,267-square-foot house at 1611 West 24th Street on the Sunset Islands is listed with the Corcoran Group’s Isaac Lustgarten, who worked closely with Alexander. It hit the market last week. Alexander’s 1611 W 24 LLC paid $9.8 million for the four-bedroom, four-and-a-half-bathroom house in 2021, records show. The house, built in 1938, appears to have been recently renovated.

2 days ago | therealdeal.com | Sam Lounsberry

After spending the last three years buying dozens of buildings and hundreds of apartment units, Shaya Wurzberger is getting a taste of distress in Chicago’s multifamily market. Wurzberger, 31, is a Brooklyn-based investor who entered the Windy City scene in 2022 with a series of acquisitions that rapidly assembled a large portfolio under his firm Levav Properties. He said he owns 1,000 apartment units that he has spent about $100 million to buy since 2022.