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Trump defeated Democratic candidate Vice President Kamala Harris, and Republicans claimed a majority of the Senate in elections this week. "We know kind of where the world is headed in a Trump environment because we've seen it before," said Jeffrey Solomon, president of TD Cowen, on CNBC's "Money Movers" Wednesday. One M&A advisor, who also spoke to CNBC anonymously, noted that Trump's disdain for Big Tech companies — historically active deal-makers — might keep them on the sidelines. Apparent GOP opposition to the CHIPS Act means that semiconductor consolidation might be challenging, the advisor noted, while cautioning it is still too early to know what a Trump presidency would mean. That advisor noted that smaller banks had been getting gobbled up for "some time," but that the pace and size of those acquisitions would likely ramp up under a Trump presidency.

Persons: Donald Trum, Ronda Churchill, Donald Trump, Kamala Harris, Jeffrey Solomon, TD Cowen, Solomon, Trump, Lina Khan, Khan, Howard Gutman, Jonathan Miller, —, Jared Holz, Mizuho, Sen, Elizabeth Warren, David Zaslav, David Grogan Organizations: Republican, Nevada GOP, Afp, Getty, Trump, Democratic, Republicans, Biden administration's Department of Justice, Federal Trade Commission, CNBC, Dow Jones, MorganFranklin Consulting, Big Tech, Qualcomm, Intel, Integrated Media, Pharmaceutical, Biotech, Illumina, FTC, Maze Therapeutics, Sanofi, Senate, DOJ, Allen & Company Sun Valley Conference Locations: Florida, Nevada, Las Vegas , Nevada, Ronda, Trump, Sun Valley , Idaho

☆ Trump or Harris? Here are the 2024 stakes for airlines, banks, EVs, health care and more
▼ + stars: | 2024-10-13 | by ( Hugh Son | ) www.cnbc.com time to read: +18 min

Former President Donald Trump and Vice President Kamala Harris face off in the ABC presidential debate on Sept. 10, 2024. The previous Trump administration didn't pursue those types of consumer protections. In contrast, Democrats, including Harris, have historically supported EVs and incentives such as those under the Biden administration's signature Inflation Reduction Act. Meanwhile, Harris, if elected, can build on existing efforts of the Biden administration to deliver savings to more patients, they said. Trump also led multiple efforts to repeal the Affordable Care Act, including its expansion of Medicaid to low-income adults.

Persons: Donald Trump, Kamala Harris, he's, Harris, Joe Biden's, Trump, Pete Buttigieg, Jonathan Kletzel, didn't, — Leslie Josephs Banks Big, JPMorgan Chase, Biden, Tobin Marcus, it's, Sen, JD Vance, they're, Lindsey Johnson, Hugh Son, Pablo Di Si, EVs, Joseph Spak, Harris hasn't, Mike Wayland, Drugmakers, Trump hasn't, Mariana Socal, Annika Kim Constantino, David Zaslav, John Malone, Time Warner, Simon, Simon & Schuster, Marc DeBevoise, Jonathan Miller, Elon Musk's, Musk, I'm, MAGA, I'm Dark MAGA, —, TikTok, — Lillian Rizzo, Alex Sherman, Michael Lynn, — Amelia Lucas Organizations: ABC, Getty, U.S, Trump, Treasury, Justice Department, Federal Trade Commission, Consumer Financial, Bureau, CNBC, The Biden Department of Transportation, Democratic, American Airlines, JetBlue Airways, Spirit Airlines, Industry, Boeing, JPMorgan, Securities and Exchange Commission, Currency, Federal Deposit Insurance Corporation, Biden, Wolfe Research, Bank, Republican, Bankers, Democratic Party, Consumer Bankers Association, Republicans, Volkswagen Group of America, Automotive News, Environmental Protection Agency, UBS, Mike Wayland Health, Commonwealth Fund, Medicare, Johns Hopkins Bloomberg School of Public Health, Annika Kim Constantino Media, Paramount Global, Skydance, Warner Bros, Discovery, Allen & Co, Sun, Media, Disney, Fox Corp, Time, Simon &, Random, MGM, FCC, Integrated Media, Twitter, Capitol, White, Lawmakers, Meta's Facebook, Alex Sherman Restaurants, National Restaurant Association, National Labor Relations Board, Social Security, Washington Post, Cornell University Locations: United States, PwC, JetBlue's, U.S, China, Ohio, Michigan, California

☆ Sales of $100 million homes set to double this year as trophy properties recover
▼ + stars: | 2024-07-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Sales of $100 million homes are on track to double this year, as surging financial markets and hopes for rate cuts fuel a recovery in the ultra-luxury real estate market, according to new reports. As of July 15, six homes in the U.S. have sold for more than $100 million, according to data from Miller Samuel and Douglas Elliman. If the sales pace continues, it would more than double last year's total and likely eclipse the record of nine homes sold for over $100 million in 2021. But sales of homes priced at $50 million, $20 million and even $10 million are all signaling a strong rebound for the ultra-luxury real estate market after its decline in 2023. A penthouse at Central Park Tower — the tallest residential building in the world — closed for $115 million to an unknown buyer.

Persons: Robert Frank, Miller Samuel, Douglas Elliman, Jonathan Miller, Aman, Vladislav Doronin, Oakley, James Jannard Locations: U.S, Manhattan, York, Russian, Palm, Tarpon Island, California

☆ Media, tech titans head for Sun Valley with streaming alliances top of mind
▼ + stars: | 2024-07-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +8 min

In past years, media companies chased high subscriber numbers in an attempt to best each other. Nathaniel S. Butler | National Basketball Association | Getty ImagesWith the NBA's media rights negotiations still ongoing, sports will remain a topic of conversation at this year's gathering. League commissioners, especially the NFL's Roger Goodell, are often attendees of the Sun Valley conference. Discovery has been weighing whether to match a competing offer for the media rights as the league looks to finalize smaller package deals. Sports remain the glue holding the traditional pay-TV bundle together, and has proven invaluable for streaming services, too.

Persons: Drew Angerer, Discovery's David Zaslav, Bob Iger, Dana Walden, Alan Bergman, Josh D'Amaro, Hugh Johnston, Ted Sarandos, Greg Peters, Andy Jassy, Jeff Bezos, Tim Cook, it's, Shari Redstone, Neil Begley, Redstone, David A, Barry Diller —, Paramount —, Jeff Shell, Max, Jonathan Miller, Begley, Sun, Mark Boidman, Dwyane Wade, Nathaniel S, Butler, Roger Goodell, Miller, Donald Trump, Joe Biden, Andrew Harnik Organizations: Getty Images Media, titans, Allen, Co, Warner Bros, Netflix, Apple, Amusements, Paramount Global, Paramount, Moody's Investors Services, Co . Media, Technology Conference, Grogan, CNBC, Media, Shell, Disney, Hulu, ESPN, Fox Corp, Integrated Media, Hollywood, Solomon Partners, Sports, NBA, National Basketball Association, Getty, League, Sun, NFL, YouTube, Amazon Locations: Sun Valley , Idaho, Sun, Idaho, Atlanta

☆ Manhattan is now a 'buyer's market' as real estate prices fall and inventory rises
▼ + stars: | 2024-07-02 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Manhattan is becoming a buyer's market as apartment prices fell and inventory rose in the second quarter of 2024, according to new reports. The average real estate sales price in Manhattan fell 3% to just more than $2 million, according to a report from Douglas Elliman and Miller Samuel. The median price fell 2% to $1.2 million, and prices for luxury apartments fell for the first time in more than a year, according to the report. The falling prices and rising number of unsold apartments in Manhattan stand in contrast to the national real estate landscape, where continued tight supply continues to keep prices high. Brokers and real estate analysts say the strong prices in Manhattan post-Covid became unsustainable, and both buyers and sellers are finally capitulating to a higher interest rate environment.

Persons: Douglas Elliman, Miller Samuel, Jonathan Miller, Brown Harris Stevens Locations: Manhattan, New York City

☆ Hollywood is facing a dire threat: sports
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

Persons: —, Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE

☆ The cost of sports content is soaring — and it could mean big cuts in Hollywood budgets
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Read previewSports has increasingly become the star of the show for big TV companies, and its ascent is sending a shiver down Hollywood's spine. AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

☆ Luxury developer Michael Shvo has big plans. Bitter disputes and a soft real estate market threatens to thwart them.
▼ + stars: | 2024-06-13 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +15 min

Amid the whirlwind of activity, the 51-year old, Israel-born executive has presented himself as a real estate visionary with a personal preference for all-black attire and a taste for luxury brands. BVK recently hired the residential brokerage firm Corcoran Group to complete a market study of the Fifth Avenue project, a person who viewed the report said. Miller noted he did not have direct knowledge of the situation at 685 Fifth Avenue. At 685 Fifth Avenue, he recently marked down prices for some of the units. In contrast, the Shore Club, which is being built by the New York real estate developer Steve Witkoff just a few hundred yards away from the Raleigh has pre-sold briskly.

Persons: —, Michael Shvo, Shvo, Peter Marino, Norman Foster, Renzo Piano, BVK, Corcoran, Jonathan Miller, Miller Samuel, Miller, Pam Liebman, Corcoran's, Truist, Michael Lirtzman, Akuna, Lirtzman, I've, Scott Wadler, Wadler, Jed Jacobsohn, John Goodman, Diane, –, Goodman, profanely, Serdar, Shvo's, Bilgili, Deutsche Finance didn't, Alex Miranda, I'm, Steve Witkoff, Morgan Chase Organizations: Service, Bayerische, Deutsche Finance, Business, GFI, Group, Shvo, Wabash, Akuna, Colliers, Wabash –, Raleigh, Core, New York State, Noë, Associates, West, Bilgili, BVK, Shore Club, New Locations: New York, Manhattan's Plaza, Los Angeles, Miami Beach, Raleigh, Israel, Wilshire, LA, Manhattan, Chicago, Miami, Paris, South Florida, San Francisco, Manhattan's, Turkish, BVK, Wabash, Shvo, Munich

☆ Luxury developer Michael Shvo has big plans. Bitter disputes and a soft real estate market threaten to thwart them.
▼ + stars: | 2024-06-13 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +15 min

☆ The most expensive home for sale in the U.S. goes up for $295 million in Naples, Florida
▼ + stars: | 2024-02-10 | by ( Ray Parisi | ) www.cnbc.com time to read: +7 min

The most expensive home for sale in the U.S. hit the market this week for $295 million. Gordon Pointe, as it's called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal. The mega-listing includes a main house that spans about 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bring the estate's total interior living space to 22,800 square feet. The residence sits high atop 217 West 57th Street, overlooking Central Park, spanning three floors and over 17,500 square feet.

Persons: Gordon Pointe, Leighton Candler, Corcoran, Candler, Gordon, John, Rhodora Donahue, John Donahue, Hermes, Dawn McKenna, McKenna, she's, It's, Cody Boone, Ryan Serhant, Serhant, naysayers, Donna Olshan, Karen Winnick, Gary Winnick, Kurt Rappaport, that's, Jonathan Miller, Miller Samuel, Jeff Bezos, Clodagh Kilcoyne, Ken Griffin, Larry Ellison, Marc Andreessen, Jim Bartsch, Jerry Perenchio, Miller, Lachlan Murdoch, Rupert Murdoch Organizations: Royal, CNBC, U.S . Army Corps of Engineers, Dawn McKenna Group, Coldwell, Coldwell Banker Realty, St, SERHANT Studios, Encantada, U.S, Washington , D.C, Reuters, Amazon, Oracle, Bel Air, Fox Corp Locations: Gordon Pointe, U.S, Naples , Florida, Gulf, New York, of Mexico, Pittsburgh, Port Royal, America, New York City, Central, Manhattan, Los Angeles, Bel, Washington ,

☆ Jenna Ortega was 'comfortable' filming a sex scene with Martin Freeman despite their 31-year age gap, says intimacy coordinator
▼ + stars: | 2024-02-08 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Read previewJenna Ortega was "comfortable" while filming a sex scene with her "Miller's Girl" costar Martin Freeman despite their 31-year age gap, according to the film's intimacy coordinator. This story is available exclusively to Business Insider subscribers. While audiences have been quick to criticize the age gap between the two actors — Ortega is 21, while Freeman is 52 — the film's intimacy coordinator, Kristina Arjona, told DailyMail.com that plenty of work went into ensuring that Ortega was happy. Advertisement"Sex Education" and "It's a Sin" intimacy coordinator David Thackeray spoke to Business Insider in 2022 about how sex scenes are filmed, and he said that intimacy barriers are a good way of creating space between actors. Business Insider contacted Ortega and Freeman's representatives for comment.

Persons: —, Jenna Ortega, Martin Freeman, Ortega, Jonathan Miller, — Ortega, Freeman, Kristina Arjona, Jenna, Arjona, who's, we've, David Thackeray, everyone's, Thackeray Organizations: Service, Business Locations: Cairo

☆ The great wealth 'realignment': Affluent people keep moving from NY and SF to cheaper, warmer places
▼ + stars: | 2024-01-07 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +6 min

Wealthy people are moving to states including Florida, Texas, North Carolina, and Tennessee. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Florida, Texas, and North Carolina are popular destinations for more than just the wealthy. The reshuffling of wealth is making historically cheaper states more expensiveIn Miami, in particular, this reshuffling of wealth has ushered in an era of unaffordability. "Miami and most of Southeast Florida have rebranded into more luxury markets," housing expert Jonathan Miller told BI in September.

Persons: They've, —, SmartAsset, Ken Griffin, Jeff Bezos, Alexander Tamargo, Indxx, AllianceBernstein, Charlotte, Goldman Sachs, Griffin, plunked, Jeffrey Greenberg, Jared Kushner, Ivanka Trump, Carl Icahn, Elon Musk, he's, Jonathan Miller, Bezos, Kushner, Trump, Dina Goldentayer, Dina Goldentayer Dina Goldentayer, Zillow Organizations: Service, Bloomberg, Austin, Citadel, Amazon, Allspring Global Investments, Oracle, Tesla, Dallas ., Company, Universal, Getty, Miami Locations: Florida , Texas, North Carolina, Tennessee, Miami, Florida, New York, California, Florida , Tennessee, New Jersey , Massachusetts, Dallas, Nashville, Charlotte, New York City, Texas, Miami Beach, Chicago, San Francisco, Austin, Coconut Grove, Southeast Florida

☆ Investors see a biotech comeback in 2024 as rates fall, deal-making picks up. Stocks to watch
▼ + stars: | 2023-12-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

Many biotech stocks struggled in 2023 despite a robust year for U.S. drug approvals. "We expect this environment to continue but look forward to the prospect of lower interest rates in 2024." When that happens, Canaccord Genuity said to expect a "strong rally across the biotech sector rewarding innovative, but riskier assets." Analysts have said the rich price reflects the opportunity for ImmunoGen's Elahere cancer treatment , which has quickly established itself as the standard of care for types of ovarian cancer. 'Oversold and cheap' In a research note Friday, Jefferies analyst Michael Yee said "a significant short squeeze" was helping biotech stocks in the fourth quarter.

Persons: Dan Lyons, Janus Henderson, John Newman, Canaccord Genuity, Janus, Lyons, Bristol Myers Squibb, Karuna, AstraZeneca, Eli Lilly, AbbVie, Jonathan Miller, Miller, bode, Jonathan Krinsky, Krinsky, BTIG's, Jefferies, Michael Yee, Yee, NASH, Madrigal, we're, David Risinger, — CNBC's Michael Bloom Organizations: Drug, Federal, Bristol Myers, Karuna Therapeutics, CART, Bristol Myers Squibb, Cerevel Therapeutics, Securities and Exchange Commission, pharma, P Biotech, Nasdaq Biotech, Apogee Therapeutics, Madrigal Pharmaceuticals, Madrigal, resmetirom, Vertex Pharmaceuticals, Leerink Partners Locations: ImmunoGen

☆ Trump Georgia election case judge will issue protective order for evidence after media leak
▼ + stars: | 2023-11-15 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

A Georgia judge said Wednesday he will issue a protective order barring the public release of sensitive evidence exchanged between prosecutors and lawyers representing former President Donald Trump and his co-defendants in their election interference criminal cases in that state. "Until we decide what's going to be relevant and admissible, this case should be tried and not in the court of public opinion," said Fulton County Superior Court Judge Scott McAfee at a hearing on the proposed order. At Wednesday's hearing, the attorney Jonathan Miller, who is representing the defendant Misty Hampton, told McAfee that he gave the videos to "one media outlet." Miller said the public had the right to know what the four co-defendants had told the Fulton County District Attorney's Office, arguing that the statements they made "help my client." ABC News had first reported statements that Ellis and Powell made in their so-called proffer videos, while The Washington Post first reported statements made by Chesbro and bail bondsman Scott Hall in their own proffer sessions.

Persons: Donald Trump, Scott McAfee, Jenna Ellis, Sidney Powell, Kenneth Chesebro, Jonathan Miller, Misty Hampton, McAfee, Miller, Ellis, Powell, Chesbro, Scott Hall Organizations: Attorney's Office, ABC, The Washington Post Locations: Georgia, Fulton County

☆ Disney will soon own all of Hulu. Here's how the company got here and what's next.
▼ + stars: | 2023-11-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +10 min

Disney has offered to pay Comcast $8.6 billion to take full control of Hulu. Disney is already in the process of rolling out a unified app that'll make Hulu's general entertainment content available in Disney+ . "With Hulu firmly in the Disney fold, they can create their own mini-bundle with kids and family (Disney +), general entertainment (Hulu), and sports (ESPN). The valuation also has to take into account that Hulu contains an entire Disney basic cable network, FX on Hulu. Netflix is set to spend $17 billion on entertainment content in 2024, while Disney is poised to spend $15 billion.

Persons: Bob Iger's, —, Bob Iger, Hulu —, what's, Comcast's NBCUniversal, pare, he's, Jonathan Miller, Brian Roberts, there's, Bernstein, Laurent Yoon, Read, Jordan Helman, Max, Puck, Disney, Bernstein's Yoon Organizations: Disney, Comcast, Hulu, Service, YouTube, News, Century Fox, Marvel, Netflix, Integrated Media, ESPN, ABC, LightShed Partners, Warner Bros, Wall, Paramount Global, Paramount, Showtime, HBO Max, Macquarie Equity Research, Media, Disney Disney, Hollywood Locations: Disney, Hulu, Canada, India, Hollywood

☆ Future of Trump’s business empire could be hit by his fraud trial
▼ + stars: | 2023-11-08 | by ( Alicia Wallace | Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Minneapolis CNN —The New York civil fraud trial of former President Donald Trump carries extremely high stakes for the self-proclaimed business mogul. “It’s between severe and seismic” as to the effects on Trump’s businesses, Thomas told CNN on Monday. Early last month, an appeals court judge paused the dissolution process for the duration of the ongoing $250 million fraud trial. A New York judge fined Donald Trump's family business the maximum penalty of $1.6 million for committing tax fraud. “[Trump] has largely been absent from the New York market for a long time,” he said.

Persons: Donald Trump, Trump, Will Thomas, Thomas, Arthur Engoron, Engoron, Victor J, ” Thomas, Adam Leitman Bailey, Bailey, ”, Alina Habba, they’re, “ They’re, Donald Trump's, Angela Weiss, you’re, — that’s, ” Trump, John Coffee, Trump’s, Jonathan Miller, Miller Samuel, ” Miller, it’s Organizations: Minneapolis CNN, The, University of Michigan’s Ross School of Business, “, CNN, Trump Organization, Trump, Bloomberg, Getty, Mar, New York, AFP, Columbia Law School, First Department, Miller Samuel Inc, New Locations: Minneapolis, York, Manhattan, New York, Westchester County , New York, Trump’s Florida, Aberdeen, Scotland, SoHo, New York City, AFP

☆ Ivana Trump's $22.5 million townhouse is still on the market after a year — look inside
▼ + stars: | 2023-11-02 | by ( Ray Parisi | ) www.cnbc.com time to read: +5 min

watch nowThe late Ivana Trump's townhouse in New York has sat on the market for one full year with no takers. He was hired by Ivana Trump's estate, which benefits her three children Ivanka, Donald Jr. and Eric, according to Erickson. Ivana Trump's former NYC townhouse sits between Fifth and Madison Avenue on 64th Street. Living room Evan Joseph / Douglas EllimanPublic records show Ivana bought the limestone townhome in 1992 for $2.5 million. Primary bedroom Evan Joseph / Douglas EllimanIvana's former en suite bedroom spans the entire third floor and includes a fireplace and terrace.

Persons: Ivana Trump's, Ivana Trump, Donald Trump's, banister, Evan Joseph, Douglas, J, Roger Erickson, Douglas Elliman, Ivanka, Donald Jr, Eric, Erickson, It's, Ivana, Louis the, Jonathan Miller, Miller Samuel, Miller Organizations: Madison, Miller Samuel Inc, CNBC Locations: New York, Versailles, Fifth, St, NYC

☆ Wall Street and money moved into South Florida, driving up prices. Now some residents want to move out.
▼ + stars: | 2023-10-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +10 min

They're looking to nearby smaller cities in South Carolina, North Carolina, Georgia, and Tennessee. They're picking places like Knoxville, Tennessee; Greenville, South Carolina; Huntsville, Alabama; and Asheville, North Carolina; which she collectively refers to as "the Villes." AdvertisementAdvertisementWhy CEOs moved their lives — and their businesses — to FloridaWall Street moved to South Florida in droves in 2020 and 2021. Billionaire hedge-fund CEOs — like Citadel's Ken Griffin — paid record-shattering amounts for South Florida homes , added offices, and moved their businesses there entirely from New York, Chicago, and Silicon Valley. They bought a 2,400-square-foot, four-bedroom home on an acre of land for the same price in Greenville, South Carolina.

Persons: —, There's, Nicole Panesso, Holly Meyer Lucas, Meyer Lucas, Ken Griffin —, Brian Guzman, Guzman, Jonathan Miller, Ken Griffin, PATRICK T, FALLON, It's, Larry Ellison, Miller, Michael Bordenaro, Greg May, Marcia Straub, Keller Williams, Jill Cody, she's, Ryan Wilson, Jami, Alexander Spatari, Jami Wilson Organizations: Service, Sunshine State, Census Bureau, Orlando, Coral, Fort Myers, Florida Wall, Billionaire, Guzman Advisory Partners, Getty, West Palm Beach, Florida Atlantic University, Silicon, Oracle, South, South Florida metros, Fortune, Miami, Homes, Army Locations: Florida, Greenville, Knoxville, South Florida, Chattanooga , Tennessee, South Carolina, North Carolina , Georgia, Tennessee, Knoxville , Tennessee, Greenville , South Carolina, Huntsville , Alabama, Asheville , North Carolina, Realtor.com, Asheville, Miami, Gulf Coast, New York, Chicago, Silicon, West Palm, Fort Lauderdale, Palm Beach, Texas, North Carolina, Greensboro, Fort

☆ Billionaires are driving South Florida home prices to new records
▼ + stars: | 2023-10-19 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

From Palm Beach to Miami Beach, luxury home prices in Florida's richest enclaves are reaching new records as billionaires and millionaires continue to buy up property. The average price per square foot of homes sold in Palm Beach reached $4,554, more than 2.5 times more expensive than Manhattan. "The prices are mind-blowing," said Chris Leavitt, a top Palm Beach broker with Douglas Elliman. Miami Beach has also seen a spike in prices from wealthy buyers — especially billionaires. "Both Palm Beach and Miami Beach are disconnected from the interest rate trend."

Persons: Douglas Elliman, Miller Samuel, Chris Leavitt, Jonathan Miller, Leavitt, James Tigani, Harvey Jones, Tommy Hilfiger, Michael Cantanucci, Corcoran, Eric Schmidt, Ken Griffin, Alex Rodriguez, Griffin, Jeff Bezos, Tom Brady Organizations: Palm, Tech, Brokers, National Football League, CNBC Locations: Palm Beach, Miami Beach, Manhattan, New York , New Jersey, California, Florida, Miami

☆ I entered a bidding war to land an apartment. It was way more brutal than I expected.
▼ + stars: | 2023-10-11 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Yet one of the enduring legacies of the COVID-era housing market may be the proliferation of bidding wars for rentals. Bidding wars have periodically reared their ugly heads during overheated stretches in New York City's housing market. And while things have cooled down since the mania of 2022, in places where available rental inventory remains low, the bidding wars just won't die. Still, it's hard not to worry that we've opened Pandora's box when it comes to bidding wars. Bidding wars may feel distasteful, embarrassing, and unfairly favor those with the means to drive up already exorbitant asking rents.

Persons: Phil, Rikki Mueller, That's, I've, David Harris, Coldwell Banker Warburg, Harris, didn't, Frances Katzen, Douglas Elliman, Jonathan Miller, Miller, Mueller, Stan Broekhoven, Broekhoven, we've, we'd, he'd, They'd, wasn't, —, James Rodriguez Organizations: New, Coldwell Banker, Austin, Google Locations: Manhattan's East, homebuying, New York, Chicago, Boston, Austin, Brooklyn, New York City, California, Los Angeles, South Florida, , New York, Salt Lake City, Las Vegas, Manhattan, David Harris , New York City

☆ Bidding wars over apartments are more ferocious than ever — and they're here to stay
▼ + stars: | 2023-10-11 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

☆ Why fall and winter are the new hot seasons for buying a house
▼ + stars: | 2023-10-04 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

An increasing number of buyers are purchasing homes in the fall and winter, Opendoor found. If the housing market normalizes, home buying could shift back to spring and summer, an expert said. A recent study from Opendoor found that the fall and winter months have become popular with home sellers. Despite a slump in the housing market, it's positive news for both sellers and buyers — demand still exists. "The housing market has gone through a period of distortion caused by mortgage rates being kept too low for too long," he told Insider.

Persons: Opendoor, —, Amit Arora, Arora, Jonathan Miller, Douglas Organizations: Service, homeselling Locations: Douglas Elliman

☆ There's a shortage of luxury apartments in Manhattan, and it's driving up prices
▼ + stars: | 2023-10-03 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

A shortage of luxury apartments in Manhattan is causing a surge in prices at the top of the market, even as broader apartment sales and prices come under pressure from rising mortgage rates. Manhattan apartment sales fell 23% in the third quarter as rising interest rates squeezed potential buyers, according to new data from Douglas Elliman and Miller Samuel. Median and average sales prices remained flat, with the average price of a Manhattan apartment stalled at $1.96 million and the median price at $1.15 million. The inventory of luxury apartments for sale marked their lowest third quarter in five years. Median prices for luxury apartments have increased in three of the past four quarters, according to Miller Samuel.

Persons: Douglas Elliman, Miller Samuel, Jonathan Miller, Miller, Serhant Organizations: United Nations, — Locations: New York, Manhattan

☆ Real estate insiders question how Trump fraud judge valued Mar-a-Lago
▼ + stars: | 2023-10-03 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —A New York judge ruled last week that former President Donald Trump inflated the value of his Mar-a-Lago estate by an eye-popping 2,300%. But the Mar-a-Lago finding in particular is raising eyebrows among real estate and legal experts because of the metric Judge Engoron relied on: the county tax assessor’s appraisal value. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote. Cintron, the Harrington Ocko & Monk partner, doesn’t think the Mar-a-Lago valuation controversy moves the needle on the question of whether Trump committed fraud.

Persons: Donald Trump, Trump, Arthur Engoron, Engoron, ” Engoron, ”, Eli Beracha, “, ” Dina Goldentayer, Douglas Elliman, ” Goldentayer, Goldentayer, Zillow, ” It’s, Jonathan Miller, Miller Samuel, ” Miller, Melissa Cintron, Harrington Ocko, Monk, it’s “, Miller, Christopher Kise, ” Trump, Letitia James, Cintron, Harrington, doesn’t, he’s, ” Cintron, CNN’s Anna Bahney Organizations: New York CNN Business, Trump, Florida International University, Miller Samuel Inc, Harrington, Mar, realtors, South, New York Locations: York, Beach, South Florida, New York City, “, Springs, Westchester County , NY, Aberdeen, Scotland, Trump

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

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