There are so many real estate articles out there — and so little time! For busy investors looking to take a quick reading break, look no further than our list of recommended reading for the week. From advice and investment tips to market reviews, we’re highlighting the stuff that’s really worth your time.
So sit back, and take a break. These were the 5 Must-Read Real Estate Articles of The Past Week:
Activist investors like Carl C. Icahn and William A. Ackman know how to rattle the cages of Corporate America’s chief executives. These so-called corporate raiders have long been storming onto boards in the broader market, threatening proxy fights and demanding that management make changes, from spinning off divisions to putting an entire blue-chip company on the block. But recently such activists have started shaking up real estate investment trusts.
How do you become the richest self-made woman in American real estate? For Dorothy Herman, the path to success includes surviving childhood trauma and raising a daughter as a teenager. Nicknamed Dottie, she joins Forbes’ second annual richest self-made women list this year with an estimated $270 million net worth. It’s all thanks to the real estate brokerage empire she started building in the 1990s, first with Prudential Long Island Realty and later with storied brokerage house Douglas Elliman.
By Sean Stewart-Muniz via The Real Deal
In a bold re-entrance to a market it left only four years ago, the U.S. arm of Japanese trade conglomerate Sumitomo Corp. recently paid $220 million for the iconic Miami Tower office building. The purchase marked one of Miami’s biggest investment deals so far this year, as well as a surprising display of optimism in the U.S. commercial real estate market from Sumitomo, which only has a handful of marquis properties stateside.
Christopher Cerk, a web-development major at the University of Michigan, said his desire to save money and invest in his future motivated him to ditch dorm life and instead build a tiny house to reside in. “When you pay rent, you have money flying out the door, and you get no return on it,” Cerk said. “It’s nice to have a space you can clean in 15 minutes.”
May’s new development permit filings were dominated by a pair of gargantuan warehouses spanning a combined 1.4 million square feet of space, planned by Staten Island Marine Development. A pair of 60-plus-story residential buildings followed, planned by Stawski Partners and Madison Equities and the Pizzarotti Group, in Long Island City and the Financial District respectively.
Did you like these articles? What were your favorite articles this week?