Milwaukee Bucks Owner Wes Edens Lands $20 Million Manhattan Penthouse

It takes a certain amount of chutzpah to ask for a $5 million discount — but then again, folks who can afford to pay for something expensive enough to be discounted millions are typically powerful, larger-than-life business moguls. Among their ranks is Wes Edens, co-owner of the Milwaukee Bucks basketball team and a majority share-holder of English Premier League club Aston Villa, who was able to knock $5 million off the listing price of a futuristic Manhattan condo.

The sleek, glassy home, listed for just under $25 million at the time of sale, overlooks the trendy High-Line pedestrian path in Chelsea and sits atop an eye-catching building crafted by the late, award-winning architect Zaha Hadid. In fact, it was one of the last developments to be blessed with her signature chic and curvy aesthetic before she died at 65 in 2016. Despite the oceans of media attention the unconventional building

Read More Read more

U.S. Jobs Report, Manhattan Homes, Brazil Spending: Eco Day

(Bloomberg) — Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:


Load Error

The last U.S. jobs report before November’s presidential election is projected to show a sharp deceleration in labor-market gains, suggesting the winner will inherit an increasingly shaky economic reboundU.S. stimulus talks remain on life support after the House passed a Democrat-only $2.2 trillion package that did nothing to bridge the gap with RepublicansFor Manhattan home sales, it’s beginning to look a lot like 2009. Unsold listings in the third quarter surged to 9,319, a level not seen since the midst of the global financial crisis 11 years agoBrazil’s President Jair Bolsonaro, who rose to power by painting himself a fiscal bulldog, is suddenly pushing to ramp up social spending, leaving markets startled and budget experts confoundedThe number of insolvency filings in Canada plunged to the lowest level

Read More Read more

Real Estate Sales Continue to Stagnate in Manhattan

Despite hopes that New York’s real estate market would spring back to life over the summer after the coronavirus lockdown was lifted in June, the number of closed sales in Manhattan was down by 46 percent in the third quarter compared to the same period in 2019, according to new sales data.

Inventory was up by 27 percent — the highest gain since 2009, according to a new report from the brokerage Douglas Elliman — and demand remains soft. The median sales price for apartments, $1.1 million, was 7 percent higher than at the same time last year.

“The Manhattan market is crawling out of lockdown and has clearly been the outlier in the region in terms of coming back,” said Jonathan Miller, a New York appraiser and the author of the report.

Sales at the lower end of the market, below $2 million, fell in the third quarter by

Read More Read more