Hedge Fund Puts $150 Million to Invest in Homes on Startup Point

Hedge Fund Puts $150 Million to Invest in Homes on Startup Point

A startup that buys equity in American homes just got its largest financial commitment to date through a $150 million boost from a New York hedge fund, amid rising home prices that are fueling demand for home-equity products. Point Digital Finance Inc. lends capital to people and receives partial ownership in their homes in return. The three-year-old startup targets customers who are seeking an alternative to traditional loans. Atalaya Capital...

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Google’s $2.5B deal for Chelsea Market is second-largest ever in NYC

Google’s $2.5B deal for Chelsea Market is second-largest ever in NYC

Just call it Alphabet Alley. Google, whose parent company is now named Alphabet, is buying everyone’s favorite Chelsea Market from Jamestown for a price that sources say will hit — if not top — an astounding $2.5 billion. At that altitude, the deal will become the second-largest full single-asset sale ever in the Big Apple. The $2.8 billion sale of the GM Building in 2007 is No. 1. Google previously bought 111 Eighth Ave. in...

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Real Estate Deals Vanish in New York

Real Estate Deals Vanish in New York

Real estate developer Louis Ceruzzi has grand plans for a sleek $1 billion Manhattan skyscraper, featuring luxury shops and condos that soar high above Fifth Avenue. Two years after Ceruzzi and a partner bought the site, they have yet to break ground. For now, all he has to show for his trouble is an empty lot, an idle backhoe and scattered piles of rubble. The delay suggests an irony: even with election of Donald Trump, the first developer as...

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Worsening Housing Affordability in U.S. Costs Renters $2,000 Per Year

Worsening Housing Affordability in U.S. Costs Renters $2,000 Per Year

Rising Rents, Income Stagnation Force Renters to Pay Bigger Share of Income in 2017 According to Zillow, rising U.S. housing rents are eating up an increasingly large share of American incomes, costing the typical renter $2,000 per year. Currently, the median U.S. rental requires 29.1 percent of the median monthly income. However, in the years leading up to the housing bubble, renters spent just 25.8 percent of their income on housing. That...

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