Real Estate

• Goldman Sachs reported on Tuesday, June 3, that private infrastructure and real estate capital will increasingly fund the rapid expansion of AI data centers. • This shift occurs as companies move away from traditional financing methods to meet the massive capital demands of AI infrastructure. • The trend is significant because it diversifies the funding sources available to support the ongoing AI-driven technology boom.

Miami-Dade county officials agreed to pay HRP Group more than double the price for land on Fisher Island to protect fuel depot used by the cruise industryA three-way tug-of-war erupted in recent months over ownership of a property on Fisher Island – one of the wealthiest zip codes in the United States – that sits in Biscayne Bay opposite the skyline of downtown Miami. When TransMontaigne Partners, a Denver-based global energy company, put the parcel on the market in May 2024, interest ran high because that land represented the last remaining piece of real estate available for development on the island.The eventual winner of the bidding war was a Chicago-based developer called the HRP Group, which purchased the property for $180m in late September last year. The developer then announced ambitious plans to build condominium towers on the property at an estimated cost of $2bn. Continue reading...

Steve Roth was responding to the announcement by New York’s mayor of tax on second homes worth more than $5mSign up for the Breaking News US newsletter email The phrase “tax the rich” can be “just as hateful as some disgusting racial slurs”, according to New York City billionaire Steve Roth, who said that the top 1% should be “praised and thanked”.Speaking on his company’s quarterly earnings call on Tuesday, Roth, the CEO of Vornado Realty Trust, expressed his support for fellow billionaire and the CEO of Citadel, Ken Griffin, who was singled out in New York mayor Zohran Mamdani’s 15 April announcement of the state’s first “pied-à-terre” tax on second homes valued at more than $5m. In a video, Mamdani announced the policy in front of Griffin’s penthouse, which he said was purchased for $238m. Continue reading...

• Singapore's real estate investment volume jumped 364% in the first quarter of 2026 compared to the same period last year, according to CBRE data released today. • The surge reflects strong investor confidence amid regional economic recovery, with total transactions reaching S$4.2 billion across office, retail, and industrial sectors. • This growth underscores Singapore's role as a safe-haven market in Southeast Asia, potentially attracting more foreign capital amid global uncertainties.

The luxury property surge fuels growth in Miami, but a poll finds many residents weighing an exit over housing and living costsTo a casual observer, everything in south Florida’s real estate garden is looking rosy. There’s a “gold rush” in Miami as ultra-wealthy buyers snap up mega-mansions and luxuriously appointed condos as soon as they hit the market; and the Guardian has also reported recently on the “Mamdani effect” of elite New Yorkers arriving in the sunshine state with bulging pocketbooks in search of a high-priced escape from the city’s new mayor.Yet alongside the boom, there are rumblings of a more troubling parallel reality. Undoubtedly, the billionaire class is helping to pump even more dollars into an already thriving Florida economy. But as prices rise and the less affluent find everything from housing and insurance to gas and groceries increasingly expensive, many are considering doing something about it. Continue reading...