Real Estate News: Weak Start for Trump Site

Sotheby’s International Realty
House of the Day: The owner of this beach house in Southern California designed the floor plan to showcase views of the Pacific.

Here is a look at real-estate news from the weekend and Monday’s WSJ:

Weak Start for Trump Site: Donald Trump cut the ribbon on Toronto’s latest luxury hotel and condominium tower last week, but a number of early condo buyers in the project are trying to back out, and initial sales have disappointed.

Behind a Chinese City’s Growth, Heavy Debt: The Chinese city of Chongqing accumulated tens of billions of dollars in liabilities during Bo Xilai’s term as local Communist Party chief, as it juiced growth that helped launch the former high-flyer’s campaign for a top political post.

Joel Kotkin: The Great California Exodus: A leading U.S. demographer and ‘Truman Democrat’ talks about what is driving the middle class out of the Golden State.

House of the Day: The owner of this beach house in Southern California designed the floor plan to showcase views of the Pacific from nearly every angle in the home.

Europe House of the Day: This modern five-bedroom house with heated swimming pool is located in Hove, close to the center of the seaside town of Brighton.

Greater New York:

New Jersey Town Bets Big on PATH: A recent announcement of $256 million in funding to replace the 76-year-old PATH station in Harrison, N.J., has real estate developers betting big on the small town’s growth.

Deal Maker May Have to Give Up Chase: Barry Gosin, chief executive of the newly formed Newmark Grubb Knight Frank, is facing a dilemma that eventually catches up with all deal makers who rise to the top ranks of the brokerage business: giving up the thrill of the chase.

Planning New York’s Next Iconic Building: Nearly a half century after much of Park Avenue’s high-end corridor of office buildings were built, developer L&L Holding Co. is advancing plans for a new tower. Aiming to create an iconic, eye-catching building in the place of a 1950s-built boxy tower at 425 Park Ave., L&L last week reached out to 11 top architectural firms to join a competition to design a new tower.

N.Y. Open House: The village of Sea Cliff, on Long Island’s North Shore, has little in the way of mall-type shopping, new development and modern mansions. And that’s exactly how residents of this one-square-mile community like it.

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