Real Estate: Too Much Tech? Latest Boom Reshapes San Francisco

WSJ Real Estate View this email in a web browser Real Estate By WSJ Real Estate COMMERCIAL REAL ESTATE Too Much Tech? Latest Boom Reshapes San Francisco David Paul Morris/Bloomberg News The latest tech boom has brought an extraordinary burst of growth to San Francisco, making the city a job-creating envy of municipalities around the world, with an unemployment rate hovering around 3.5%. But the boom is also challenging San Francisco’s economic diversity, giving it an enormous concentration in an industry that is particularly prone to economic swings. Investor Group Sees Its Future in the Burbs JLL A venture led by Rubenstein Partners LP is zigging while other investors are zagging by making a $162.9 million bet on a suburban Indianapolis office park at a time when such properties have fallen out of favor. Want to Book an Airbnb Stay? Not So Fast Clara Lu Airbnb Inc. is shaking up the hospitality industry. But many local governments are pushing back. The backlash has created an opening for San Francisco startup Host Compliance, which formed last year to help cities—from ski towns to coastal enclaves—crack down on Airbnb abuses by rooting out rental listings that violate local laws. U.K. Property Values? They Are Anyone’s Guess U.S. New Home Sales Rise to Highest Level Since 2007 [WSJ Pro] MANSION Los Angeles Compound with Elaborate Playground Asks $15.5 Million Marc Angeles Owned by record producer Ron Fair and his wife Stefanie, a star of Bravo’s “There Goes the Motherhood,” the Brentwood property is the setting for “Happy Times,” a roughly 5,000-square-foot space that includes a custom-designed cedar play set, a child-sized playhouse and trampoline. Hamilton Biographer Ron Chernow Finds New York’s ‘Quietest’ Home Stephanie Diani for The Wall Street Journal In this week’s House Call, author Ron Chernow describes his 19th-century brownstone, and the series of historic settings that make up his past. Attention, Jumbo-Mortgage Shoppers: Deals Ahead Chris Gash With more lenders offering jumbo loans, borrowers have more bargaining power to negotiate the best terms. Here’s what you need to know. Three Homes for Sale With Lavish Bathroom Vanities HOUSE OF THE DAY A Tribeca Art Gallery Transformed Into a Classic Loft Richard Peskin This Manhattan apartment retains traces of its past life as a commercial property, including a 54-foot-long frosted-glass skylight and an open-plan living area with curtains to separate the master bedroom. Advertisement GREATER NEW YORK REAL ESTATE Qatar Buys Stake in Empire State Building Alamy An affiliate of the Qatar Investment Authority bought a 9.9% stake in Empire State Realty Trust , the landlord that owns the 1,250-foot skyscraper, the company said Tuesday. The $622 million investment marks the latest injection of foreign money into New York real estate. Ratings Firms Give High Marks to MTA Bond Offering Drew Angerer/Getty Images The Metropolitan Transportation Authority’s plan to leverage development on the West Side of Manhattan to help pay for the transit system’s upkeep and expansion has drawn good marks from bond-ratings firms. The authority expects to sell about $1 billion in long-term bonds secured with ground-lease payments it stands to receive from the Hudson Yards sites under development by Related Cos. and Oxford Properties Group. Bustling Crown Heights Hits Its Stride Peter J. Smith for The Wall Street Journal Twenty-five years after racial violence propelled Crown Heights into the national spotlight, the Brooklyn neighborhood has become a hot real-estate market. Young people escaping rising prices in surrounding neighborhoods are moving into new developments. Bustling new cafes and restaurants have made it a destination. And real-estate investors have taken note. What’s the Deal: Full-Floor Spaces Lure Office Tenants to Times Square Building Cuomo Administration’s Proposed Tax Break for Developers Is Raising Questions DESIGN A Bouquet Inspired by Hindu Legend Stephen Kent Johnson for The Wall Street Journal, Floral Styling by Lindsey Taylor, Prop Styling by Nidia Cueva A petite 18th-century illustration of a Hindu goddess jilted by the young Krishna challenges floral designer Lindsey Taylor to capture epic passion on a small scale Follow WSJ Real Estate Follow WSJ Unsubscribe• Newsletters & Alerts• Contact Us• Privacy Policy• Cookie Policy SUBSCRIBE FOR FULL ACCESS TO WSJ.COM SIGN UP FOR THIS NEWSLETTER You are currently subscribed as jasajuejejeje@gmail.com For further assistance, please contact Customer Service at support@wsj.com Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.