Real Estate News
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Reno, Nevada, real estate: What you can get for $2.5M
Check out what’s clicking on FoxBusiness.com. Reno is known as “The Biggest Little City in the World,” and sits in the High Sierra foothills near Nevada’s border with California. Famed for its casino industry and tourism, Reno is also attractive to businesses and real estate buyers due to its favorable tax laws. A recently updated “Biggest Little City in the World” sign March 3, 2020, in Reno, Nevada. (George Rose/Getty Images / Getty Images) There is also an array of recreational activities both year-round and seasonally. With Lake Tahoe, the Truckee River and Pyramid Lake all in the area, there are plenty of water activities in the summer, while skiers…
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The Alexanders Are Now Selling Metaverse Real Estate
Now selling luxury real estate in the metaverse. Photo: Scott Roth/Invision/AP/Shutterstock Tal and Oren Alexander, the brothers who became famous for closing megadeals in their early 20s then moved onto the biggest deals ever in their early 30s — they represented Ken Griffin when he bought that record-setting $238 million penthouse at 220 Central Park South in 2019 — recently announced that they’ll be developing and selling luxury real estate in the metaverse. That is, in virtual reality. It’s all imaginary construction; it can’t be lived in but exists only to be bought and sold and conspicuously consumed. Which sounds about right. Like others in the moneyed Miami set, Oren…
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Metaverse real estate is now being sold for cryptocurrency
The metaverse is getting hotter. Not hot, like a delicious meal or a Finnish sauna. This mostly fictional, virtual world is getting hot like a real estate market. Because lately, it is one. If you have enough money and courage, you can now buy up digital tracts of land in the metaverse. Of course, there isn’t just one metaverse. Much like a website is part of the larger World Wide Web, there are countless companies, including Meta (née Facebook), building their own virtual realms where they hope people will soon gather as their digital avatars to play games, buy things, and interact with ads. The emerging real estate market for…
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Investors Snap Up Metaverse Real Estate in a Virtual Land Boom
Justin Bieber performed at a live concert this month, but the show wasn’t in a stadium or an arena. Like recent performances from Ariana Grande, the Weeknd and Travis Scott, this concert was held in the metaverse, the online world that stretches the corners of the internet into immersive, four-dimensional experiences. Fans from all over the globe watched Mr. Bieber’s avatar sing songs from his hit album “Justice.” Investors were watching, too. Preparing for a digital land boom that appears just months away, they are snapping up concert venues, shopping malls and other properties in the metaverse. Interest in this digital universe skyrocketed last month when Mark Zuckerberg announced that…
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Lessen, Property Services Startup, Scores Unicorn Valuation
Lessen CEO Jay McKee and Fifth Wall managing partner Brendan Wallace (LinkedIn, Fifth Wall, iStock) A historic year for proptech fundraising has produced another unicorn. Lessen, a real estate management platform that connects property owners and operators to electricians, cleaners and other service providers, raised $170 million in a Series B round, pushing its total funding so far to $214 million — nearly quadruple its previous fundraising — and valuing the two-and-a-half year-old company at more than $1 billion. Proptech venture capital firm Fifth Wall, which led Lessen’s $35 million Series A round in June, returned to lead the new round. Khosla Ventures, General Catalyst and Navitas Capital were also…
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Power Buyers: What To Know About Real Estate’s Buzziest New Buyer Tools
For the past several years, the real estate market has been a twisted game for homebuyers. The ability to secure the perfect home constantly eludes them, as they get crushed by institutional buyers with all-cash hammers, pricked by sellers wielding their power to overprice homes, and sucked into a pipeline of precarious financing. Stefan Peterson | Credit: LinkedIn However, an emerging business model is helping homebuyers win the game — similar to the effect of a single Super Mushroom that transforms Mario from a dwarf to a looming giant; power buyers are imbuing everyday buyers with the capital needed to crush the competition and seal the deal. “What power buyers…
