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A British tech entrepreneur is selling his New York City townhouse for $26 million

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26 bank st 6

British tech entrepreneur Jos White has just listed a four-bedroom townhouse for $26 million, reports the Wall Street Journal.

White, currently a partner at Notion Capital, bought the light-filled home on a quiet, tree-lined block in Greenwich Village for $7.25 million back in 2009. Originally built in 1915, the three-story building has an English flare and quirky interior touches, like a disco ball in the master bedroom.

Other perks include a private front garden, a wood-burning fireplace, and a rooftop glass "atelier" modeled after the Maison de Verre in Paris. Designed by architect Basil Walter, it's listed with Douglas Elliman Real Estate.

SEE ALSO: A real-estate developer has hoisted his opulent Manhattan townhouse onto the market for $84.5 million

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Floor-to-ceiling glass windows throughout keep the home bathed in bright light.



A private back garden is filled with greenery.



Previously owned by interior designer James Huniford, the house has warm touches like exposed wooden beams and arched entryways.



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We toured a $27.3 million apartment in one of New York City’s most expensive buildings

Here's why Marco Rubio accused Donald Trump of running a 'fake university'

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Donald Trump.

During the GOP presidential debate Thursday night, Sen. Marco Rubio accused frontrunner Donald Trump of running a "fake university"— a reference to the now-defunct Trump University.

Trump's real-estate investment "university" stopped operating in 2011 but has been the subject of continuous litigation. 

New York Attorney General Eric Schneiderman sued Trump University in 2013 for allegedly failing to deliver on promises to teach real-estate investment techniques and defrauding students of $40 million.

Trump is currently fighting two lawsuits filed by former students of Trump University. In one of those lawsuits, Trump suffered a big setback in October 2014 when a judge ruled the case could proceed as a nationwide class action. 

The ruling by Judge Gonzalo Curiel meant that a California businessman named Art Cohen could sue Donald Trump on behalf of anybody who bought seminars from Trump University after January 2007. 

That lawsuit — which is still ongoing — accuses Donald Trump and his university of violating federal racketeering law by scheming to defraud students into paying thousands of dollars for useless real estate investing classes.

Curiel's ruling was significant, because it is generally not worth a lawyer's time to pursue a case like this on behalf of one person. Now, Cohen is representing thousands of people who were allegedly duped by Trump University, according to court documents filed by his attorneys.

Here's what Trump's lawyers said in a statement emailed to Business Insider after the class was certified: "We are taking action to immediately appeal the Court’s decision to certify a class in this case. However, we are confident that Mr. Trump will ultimately prevail on the merits once all the evidence is considered."

Cohen filed his suit in 2013 after he allegedly spent $34,996 on Trump University's "Gold Elite" program. The lawsuit claimed Trump misled students into believing they would learn investment secrets from both him and his "handpicked professors." Instead, Cohen said, Trump had no real role in choosing instructors and didn't give students access to any of his real estate investing secrets.

"The misleading nature of the enterprise is embodied by its very name," the complaint said. "That is because, though Defendant promised 'Trump University,' he delivered neither Donald Trump nor a university."

SEE ALSO: Marco Rubio to Donald Trump: If you hadn't inherited millions, you'd be selling watches in Manhattan

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New York City's first micro-apartment is 302 square feet... and costs $2,750 a month

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Located in Manhattan's Kips Bay neighborhood, Carmel Place is the first micro-apartment development in New York City. Its 55 units range between 265 and 360 square feet, and market-rate units cost between $2,650 and $3,150 a month.

Story by Tony Manfred and video by Adam Banicki

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We got a peek inside the starchitect-designed luxury apartments that are dramatically changing New York City's skyline

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VIA 57West Building Exterior

Via 57 West, a luxury residential building designed by star Danish architect Bjarke Ingels, is changing the Manhattan skyline. The unique pyramid-like building, with a 22,000-square-foot sloping courtyard in its center and floor-to-ceiling windows, has been capturing the attention of architecture fans since renderings were first revealed in 2009. 

The building, which has a total 709 units, was built with sustainability in mind. The energy-efficient building recycles 60,000 gallons of water a day, and it was built using responsibly forested wood. Not to mention, with 178 different floor plans, there's a fit for any type of living situation.

Starting March 1, the units will be on the rental market — aside from the building's 142 affordable housing units, that is, which range from $565 for a studio to $1,067 for a three-bedroom apartment and were filled via a lottery late last year. Average prices for the market-rate apartments range from $2,770 for a studio to $16,500 a month for a four-bedroom apartment.

Business Insider recently got to peek inside five different units, each with a unique floor plan. We were in awe with what we saw. 

SEE ALSO: 12 eerie images of enormous Chinese cities completely empty of people

APARTMENT #1, two-bedroom, two-bath: This particular unit runs for $7,200 per month and is 1,024 square feet.



Thanks to the building's tetrahedron-like design, some of the apartments are lucky enough to have not one, but two balconies. Here, the smaller room of this two-bedroom apartment leads out to a patio space.



The master bedroom is separated by a small hallway.



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5 steps to buying a home on your own

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ruth

The home-buying experience often portrayed in advertising generally seems to focus on couples and families. But these days, only 40 percent of first-time home buyers are married, down from 52 percent in the late ’80s, according to Zillow research.

The process of purchasing a home for a sole owner may be fairly similar to that of anyone else, but there are a few slight differences in how a single buyer might approach the home-buying experience.

Here are five ways to make your solo house hunt a success.

1. Find your agent

Don’t choose the first real estate agent you find in an online search. Try posting a query on social media to get insights from your friends and family, and search for agents in your area, taking plenty of time to read reviews. Look for positive agent reviews that may comment on purchasing alone versus as a couple.

Once you find a few agent options, meet with each of them. You’ll want to ask plenty of questions— don’t let them do all the talking.

agent

2. Read up on your resources

So you’ve met with multiple agents and found the one for you. Great! But having a wonderful real estate agent doesn’t mean you don’t need to read up on your own.

Don’t rely on your agent to explain every detail of the process. They probably will, and should, but it’s your job to be an informed buyer. Head to the library or check out online resources to find out your rights as a buyer and learn about home-buying programs.

When you’re deciding how much home you can afford, consider all recurring expenses that come with owning a home. Think beyond mortgage payments and closing costs — include expenses such as home maintenance and repairs.

And if you’re nervous about being turned down for a loan because you’re buying on your own, try not to be. While qualifying for a loan on one income may mean you purchase a smaller home, it doesn’t mean you can’t buy. In fact, banks are not allowed to discriminate against potential home buyers based on marital status.

Singles buying a home on one income should consider an FHA loan, as borrowers with good credit can qualify for a small down payment.

3. Choose the right home type for you

Are you looking for something to grow into? Or do you want a small starter home you can rent out in the future? Whatever your current and future home needs are, know that you have options regarding the type of home you purchase.

Buying a condo or townhouse may leave you with a lower mortgage, but don’t forget about possible homeowners association dues and storage fees. And while a smaller place means less to maintain for one person, regular maintenance is still a homeowner must.

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4. House hunt with confidence

Pursuing homeownership on your own doesn’t mean you have to decide everything solo. Bring one or two of your close friends who have recently purchased a home and who you know can offer honest feedback.

If you plan to move to the suburbs to get more house for your buck, consider if you’d really be happy living away from your favorite downtown spots. Try commuting to and from your potential home from work, your friends’ homes, and your favorite shops and restaurants. If you discover it’s a tad too far for comfort, narrow your home search.

Once you find a few neighborhoods you love, look at the crime data. There are plenty of online tools that can help you check the safety of a neighborhood. And as you scope out houses and communities, take note of enclosed backyards and security gates. Because there may not be someone home during hours you’re typically away, you’ll want to be mindful of security precautions during your house hunt.

5. Make an informed offer

If you’re buying as a singleton, you may not have someone by your side to help you figure out what to offer or how to negotiate. This is where finding the best real estate agent for you will serve you well. Talk to your agent about how your offer may stack up against recent sales in the area, as well as the possible concessions you can get from the sellers.

Whether you’ve just started considering purchasing your first home or you’re newly single and buying on your own for the first time, these five steps will ensure you’re a smart and savvy solo buyer, and help you land a home of your own.

Related:

SEE ALSO: I've been investing in real estate for 25 years, and I think buying a house is for suckers

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NOW WATCH: One man is trying to end homelessness in Los Angeles by building tiny houses

Take a tour of billionaire Bill Koch's 80-acre Aspen lodge, which can be yours for a discounted $80 million

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Billionaire businessman Bill Koch first listed this 80-acre property in upscale ski town Aspen for $100 million in 2015. Now, it's received a $20 million price cut.

The historic property, called Elk Mountain Lodge, is a stunner just 10 miles outside of downtown Aspen. There are four parcels up for sale, totaling 28 bedrooms spread across 13 buildings in the pristine valley. Originally homesteaded in 1907 and converted to a dude ranch in the 1930s, the property was turned into an event space when Koch purchased it in 2007.

Bill, the youngest in the conservative Koch brother trifecta, is a real estate collector of sorts, with a compound in Cape Cod and a 6,400-acre ranch in Colorado, on which he built a private faux-Western town. He picked up the main Elk Mountain Lodge for $26.5 million in 2007 and then acquired the three neighboring parcels. The whole package was put back on the block in 2014 at $90 million, but did not sell. In 2015, it was listed again for an eye-watering $100 million— easily Aspen's most expensive listing ever, and one of the highest listing prices in the country as well. It's now listed at the new price with Douglas Elliman Real Estate.

Take a look at the picturesque mountain escape, below.

SEE ALSO: The most expensive homes you can buy in 30 countries

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Situated in a narrow valley between the Elk Mountains, the 80-plus acres have been everything from a homestead to a dude ranch to, most recently, an entertainment venue. There are four parcels in the Castle Creek Valley.



One of the residences is the American Lake log cabin; it's on offer with the main parcel for $60 million. The property manager currently calls the three-bedroom cabin home.



The second parcel, called Ashcroft, is 7.4 acres and available separately for $7.375 million. It's got an outdoor hot tub and a cozy wood-burning stove.



See the rest of the story at Business Insider

No one seems to want to buy Lloyd Blankfein’s stunning Hamptons home


Tinder CEO Sean Rad just put his $1.8 million LA bachelor pad up for sale — here's a look inside (MTCH)

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sean rad plus apt

Tinder CEO Sean Rad has put his swanky $1.8 million Los Angeles condo up for sale, according to Variety. The Wilshire Corridor pad is 2,298 square feet, with two bedrooms and three bathrooms.

Rad has been in and out of the news for his tendency to put his foot in his mouth, including — allegedly — mixing up the word "sapiosexual," someone attracted to intelligence, for a much more controversial word.

Rad, for his part, claims that he is misunderstood.

"I'm dealing with all of these stereotypes,"he told Fast Company. "Because I'm a successful guy in tech I must be a douche bag. Because I run a dating app I must be a womanizer."

But he still admits that he is addicted to Tinder and falls in love with another girl every other week.

If you want to follow in Rad's completely non-womanizing footsteps, you can't go wrong with this bachelor — or bachelorette — pad. Rad says that a famous supermodel propositioned him — nay, was "begging" him, and he turned her down, possibly in this very condo! This could be you.

Rad has upgraded to a $7.5 million penthouse three-quarters of a mile away from this one, according to Variety.

Check out the pictures below and see the listing:

SEE ALSO: The hottest jobs in America for men and women, according to Tinder swipes

A giant candelabra light fixture and access to a nearby balcony make for a nice living room. The acoustic guitars are probably part of the staging, and not included.



A fireplace in the bedroom is nice and cozy.



The corner tub is perfect for place to soak after a tough day at work. There's even a TV in the bathroom.



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17 US cities where people are flipping houses like crazy

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upside down house

For the first time in four years, house flipping is back on the rise.

According to data from the real-estate data firm RealtyTrac, 5.5% of all home sales in 2015 were from house flips, up from 5.3% in 2014.

"As confidence in the housing recovery spreads, more real-estate investors and would-be real-estate investors are hopping on the home-flipping bandwagon," Daren Blomquist, senior vice president at RealtyTrac, said in a release.

"Not only is the share of home flips on the rise again, but we also see the flipping trend trickling down to smaller investors who are completing fewer flips per year."

Seventy-five percent of housing markets in the US saw a rise in the number of house flips in 2015. Using RealtyTrac's data, we have compiled a list of 17 housing markets that saw at least a 25% increase in flips over the past year, ranked from slowest-growing to fastest-growing.

17. North Port-Sarasota-Bradenton, Florida

Total housing units: 401,839

2015 home flips: 1,867

Percent of total 2015 sales that were flips: 8.3%

Year-over-year percent change in flips: 26%



16. Huntsville, Alabama

Total housing units: 183,643

2015 home flips: 453

Percent of total 2015 sales that were flips: 8.4%

Y-O-Y percent change in flips: 27%



15. Palm Bay-Melbourne-Titusville, Florida

Total housing units: 270,081

2015 home flips: 1,196

Percent of total 2015 sales that were flips: 8.2%

Y-O-Y percent change in flips: 28%



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New York City's most expensive condo now comes with 2 Rolls-Royce Phantoms, a Hamptons summer rental, and a $1 million yacht

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atelier penthouse

As more and more luxury condo buildings compete for ultra-wealthy buyers in a softening market, New York City-based realtors have started adding some pretty out-of-this-world perks.

One of the best examples of this can be found at New York's most expensive apartment, the $85 million penthouse at the Atelier condo building.

The 10-bedroom, 13-bathroom condo, which takes up the entire 45th floor of the Midtown Manhattan building, has been on and off the market, but its most recent iteration takes the cake.

According to the listing, The purchase of the penthouse now includes: two Rolls-Royce Phantoms, a $1 million yacht (including docking fees for five years), dinner at two-Michelin-starred Daniel once a week for a year, courtside seats at Brooklyn Nets games for a year, a Hamptons vacation rental for the summer, a live-in butler for a year, and a private chef. The lucky buyer will also get a $2 million credit toward renovating the condo.

The building itself, which was completed in 2006 by the Moinian Group, has some pretty lavish perks of its own, including a 47th-floor ice-skating rink, a lap pool, sauna, valet services, daily free breakfast, basketball courts, and a driving range.

Let's take a look inside New York's most expensive condo.

SEE ALSO: We got a peek inside the starchitect-designed luxury apartments that are dramatically changing New York City's skyline

DON'T FORGET: Follow Business Insider's lifestyle page on Facebook!

Atelier's lobby is sleek and pristine.



The building is situated far west in Midtown Manhattan. You can see views of the Hudson River and New Jersey from the penthouse's kitchen.



The apartment is wide open, with white oak flooring, granite countertops, and Sub Zero appliances.



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Here's the salary you have to earn to buy a home in 19 major US cities

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In the market for a home? Mortgage site HSH.com has updated its estimate of how much annual income a household would need to buy a home in major metropolitan areas in the US, according to fourth-quarter 2015 data.

Thanks to lower mortgage rates and home prices, houses were more affordable in nearly every metro area measured than they had been in the previous quarter. The National Association of Realtors told HSH.com that it doesn't expect this trend to continue. The site also calculated how it would change the salary needed to buy a home if a buyer were to put 10% down instead of the recommended 20%. No matter where you are, it's more expensive — you can visit HSH.com to see both numbers.

The site looked at median home prices from the National Association of Realtors. It took into account interest rates for common 30-year fixed-rate mortgages and property taxes and insurance costs to figure out how much money it would take to pay a median-priced home's mortgage, taxes, and insurance in each city, and how much you'd have to earn to afford it. Salaries listed are rounded to the nearest $500.

SEE ALSO: Here's how much you need to earn to live comfortably in 15 major US cities while still saving money

19. San Antonio

Population: 1,409,000

Median Home Price: $192,100

Monthly Mortgage Payment: $1,096

Salary Needed to Buy: $46,000



18. Orlando

Population: 255,483

Median Home Price: $205,000

Monthly Mortgage Payment: $1,115

Salary Needed to Buy: $48,000



17. Minneapolis

Population: 407,207

Median Home Price: $223,700

Monthly Mortgage Payment: $1,172

Salary Needed to Buy: $50,500



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7 mega projects that are remaking the world's greatest cities

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titanic yards belfast

All over the world, real estate developers and local governments are trying to find ways to cram people into denser and denser cities. 

In many cases, they're relying on mega projects, ranging from $4 to $40 billion dollars in cost, that are reconfiguring the layouts of places like New York, Sydney, and Tokyo. 

"It's a migration of workers and companies to cities, and a flood of capital into marquee addresses," MIT real estate professor Steve Weikal tells Tech Insider. 

Here are seven of the most mega of mega projects, according to Weikal. 

Hudson Yards in New York City, US.

Real estate heavyweights Related Companies and Oxford Properties are teaming up to create Hudson Yards, a brand new neighborhood on Manhattan's far west side.

Due to be completed by 2024, the $20 billion, 28-acre mega project will have nearly 20 million square feet for offices, retail, and residential.

It's reportedly the largest real estate project in American history



Roppongi Hills in Tokyo, Japan.

Roppongi Hills opened in Tokyo's swank Roppongi neighborhood in 2003. 

The 27-acre project cost $4 billion, and features offices, residences, an art museum, and lots of retail. 

"My vision is to create a city within the city with everything you need for daily life," property developer Minoru Mori told BusinessWeek in 2002.  



Barangaroo in Sydney, Australia.

Sydney's 54 acre, $6 billion Barangaroo project is aimed at redeveloping the westernmost side of Sydney Harbor. 

Due to be completed in 2023, it will be host a park and a waterfront plaza, plus lots of residential and commercial real estate. 



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No one wants to buy Celine Dion's lavish Florida mansion, which has gotten $27 million in price chops since 2013

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Celine Dion

Celine Dion has slashed the price of her gorgeous property on Florida's exclusive Jupiter Island yet again.

Down from an original ask of $72.5 million, the price now stands at $45.5 million after a series of price chops over the three years it has sat on the market unsold, according to The Real Deal.

The home, which is now listed by Fenton Lang Bruner and Associates, was custom-built and designed by Celine Dion herself.

She and her late husband Reneé Angélil bought the lot in 2005 for $12.5 million and the adjacent mansion in 2008 for $7 million, The Wall Street Journal reported. They then razed the existing home to build the current spread.

The 5.5-acre property has views of the Atlantic Ocean, a four-bedroom guesthouse, a simulated golf range, pool house, and three separate pools.

The main residence alone measures close to 10,000 square feet, with five bedrooms and a custom-designed walk-in closet with an automated rack for clothing and automated carousel for shoes.

Megan Willett wrote an earlier version of this report.

SEE ALSO: The fabulous life of Italian denim god Renzo Rosso, the billionaire founder of Diesel

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Welcome to Celine Dion's 5.5-acre compound on Jupiter Island in Florida.



The singer is selling the property for $45.5 million.

Source: Sotheby's International Realty



She and her late husband custom-designed the property themselves after buying two lots and razing one of the existing homes.



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Dubai's wildly ambitious 'The World' islands could finally be coming to life

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Dubai the world

Nearly a decade since Dubai's man-made archipelago "The World"— a 300-island chain laid out in the shape of the Earth's continents — stalled in the wake of the 2008 financial crisis, a six-island cluster could bring the project back to life.

"The Heart of Europe" is an ambitious development that will be home to dozens of luxury resorts and lavish restaurants, surrounded by half-submerged, half-skylit floating homes called "floating seahorses." Although the project was slow to get started when first announced in 2009, it appears to have speeded up recently.

"We have invested millions of dollars in The Heart of Europe and we have made a commitment to our investors and clients," Josef Kleindienst, CEO of the development firm Kleindienst Group, tells Tech Insider.

Notably, more than 60 floating seahorses were sold in 2015, even before the first structure has touched down in the Persian Gulf, according to Kleindienst Group.

Impressive in its own right, The Heart of Europe is something of a miracle given the history of The World — which by all accounts should have flatlined years ago.

the heart of europeIn 2003, Sheikh Mohammed bin Rashid Al Maktoum unveiled his plans to build a sprawling archipelago that recreated the world map in the Persian Gulf. His idea: entice the planet's wealthiest investors and real estate moguls into scooping up an island or two and build up Dubai's status in the process.

At first the island properties were expected to sell for upward of $20 million apiece. And some people did buy — mostly investors and real estate tycoons. Within several years of the islands' completion, master developer Nakheel Properties claimed 70% of the 300 islands had already been purchased. Richard Branson, for example, quickly nabbed the islands representing Great Britain in 2006.

For people who just wanted a taste of luxury, Nakheel announced it would begin offering boat tours around The World islands and the nearby Palm Jumeirah.

But following the global financial crisis, The World ran into trouble.

Nakheel, once a part of the state-run investment group Dubai World, broke off in the years after construction began. Dubai World had racked up $25 billion in debts prior to 2009, and when the economy tanked, Dubai needed a way to restructure.

The World would have to wait.

dubai the world renderingMany investors have opted not to finance future developments on their islands, fearing Dubai's struggling real estate market won't net them a return on the investment. In 2012, for instance, the owner of an Asian atoll put his island back on the market for $29 million, which included debts to Nakheel from the original purchase. And unlike the 2012 call for cruises, the current advertisement on Nakheel's site no longer mentions a tour around The World, just Palm Jumeirah.

Past the model homes built on Greenland to entice initial buyers, the only property that has seen much development is the island representing Lebanon, where Nakheel opened a luxury resort called The Island in 2012. It boasts a beach club, bars, lounges, and restaurants, and offers day visits or corporate events.

But even this project has run into problems, as the original owner of the property, Indian entrepreneur Wakil Ahmed Azmi, sold the island in 2013 at a reported loss of $6.8 million.

On top of these economic challenges, The World poses a logistical problem for buyers.

For one, The World is constantly losing its beaches. Each year, between 4 and 16 inches of sand recede into the Persian Gulf due to normal erosion, Kleindienst reported in 2014. So far, the only way to combat this erosion is to replace the sand outright.

Each island is also a different size. Some are tiny, just 6 acres in total, while some cover more than 20 acres of space. The only way to reach your own private island or any of the others is by boat or seaplane from the shore, more than two miles away. For wealthy investors, this may not pose a problem. But for the portion of residents simply intended to make up a community on the islands, the limited transportation options could be a deal breaker.

"The major obstacle I feel is the traveling back and forth," says Irene Ahmed, a travel consultant who has lived in Dubai for the last three years.

dubai the worldThirteen years and $14 billion later, 300 artificial islands sit shoulder-to-shoulder, most of them bare and undeveloped.

Ever since the initial announcement, the Dutch firm Royal HaskoningDHV has led the chain's construction. It built the 26 kilometers of artificial reef below the chain, which helps keep it intact, and continues working with individual investors who want to develop their islands.

Ronald Stive, the company's director of maritime and coastal projects, says he felt mild disappointment when the project stalled in 2008 due to the global financial crisis. Even if the completed reef was an engineering success, the hiatus meant no one would be building on top of that success.

"I think the concept is perfect," Stive tells Tech Insider. "But it needs time."

Stive says his company has done business with six investors since 2007. In 2015, it dealt with just one, "where we are now of assistance on an ad hoc basis."

Only in recent years has Dubai managed to escape from the rubble of the economic collapse, which stalled Sheikh Mohammed's master plan and left The World in purgatory. "People don't think or talk about it, because, well, there's nothing there," Ahmed says. "It's just empty land."

Maybe for now. But not for long.

heart of europe mont royal beach viewWith his sights set on a 2020 grand opening, Kleindienst envisions high-end shopping and dining options across multiple countries.

Just like Epcot in Disneyworld, visitors will only be a short boat ride from the country of their choosing. "Our goal is to have from at least each European country one food and beverage outlet," Kleindienst told The National in 2014. "This will allow you to have dinner in Germany, breakfast in France, and lunch in Italy."

For Kleindienst, those are obstacles better suited to addressing further down the line. The Heart of Europe is happening. That much is certain. Smaller details, like how people will get to their islands and whether the general population wants them at all, are of less concern.

"There's dreams and hopes for the islands," Ahmed says.

Less-ambitious firms might need more than that. But the ever-opulent Dubai lives and dies by a different creed. Hopes and dreams are what turn billions into beaches.

the cote d azur hotel swimming pool viewsweden villa furnished by bentley home view from beachsweden villa furnished by bentley home lounge areasweden villa furnished by bentley home pool areagermany beach villa pool areagermany lagoon villa exterior photo 2

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NOW WATCH: Dubai is giving their firefighters $200,000 jetpacks to fight skyscraper fires — that's right, jetpacks


One of New York City's 'ghost tenants' explains how bad the housing crisis has become

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Drew Hamilton public houses in the north of Manhattan, New York.Gigi lives in a high-rise apartment on the Upper West Side for less than she used to pay for a smaller third-floor walk-up in Bushwick, Brooklyn.

The two-bedroom in Manhattan is shabby in some ways, but the rent can't be beat: less than $1,000 a month for a safe, transit-rich neighborhood with plenty of shopping.

The apartment is less than 10 minutes from the nearest subway stop, and the commute to her office is less than half an hour.

There are a couple of downsides. For one Gigi, who is 33, lives with her parents and her sister, who has to sleep in the living room. And the whole arrangement is illegal.

Gigi's family lives in the New York City Housing Authority's Amsterdam Houses, a public-housing complex a few blocks from Lincoln Center, Trump International Hotel and Tower, and Central Park.

Her parents are the only official tenants. That makes Gigi and her sister what housing wonks sometimes call "ghost tenants," or people living in public housing "off lease."

Their situation isn’t uncommon. Though 400,000 people officially live in New York City’s traditional public-housing units, it's estimated that as many as 100,000 to 200,000 more reside there secretly.

That the population living in New York City's publicly owned housing units could be 25 to 50% larger than the official count provides stark evidence of how severe the city's affordable-housing crisis has become.

While Gigi's setup has some perks, ghost tenants by and large are not choosing these cramped arrangements because the accommodations are luxurious. NYCHA's units are almost all at least 50 years old and often have an enormous backlog of repairs: Because of a series of budget cuts from Congress and Albany, New York's public housing faces roughly $16 billion in unmet capital needs. And still tens of thousands of people choose to live in apartments that are not just deteriorating but are often overcrowded, too.

If they're like Gigi, these ghost tenants would probably rather not be there. "It is very awkward and frustrating living with so many people in a small place," says Gigi — her nickname, which she requested I use in lieu of her real name.

She is looking for a two-bedroom in her price range so she and her sister can move out of the Amsterdam Houses. "There are things you want to be able to do but cannot because it is your parents' home and you have to respect their rules."

Living off-lease means risking real penalties, from the possibility of eviction to the more likely scenario of a spike in rent. But for Gigi, there are compelling reasons to assume these risks. She grew up in a crime-ridden neighborhood in the South Bronx, where the commute into Midtown Manhattan could be up to 90 minutes and the long walk back at night was nervous-making in the extreme.

"Everything is accessible, not like the Bronx where I had to take two trains and two buses," she says. "All the jobs are in Manhattan. I work on the Lower East Side, and the train is literally right there. If I have to go home late, OK, OK, because I can walk around at three in the morning."

Gigi is only slightly exaggerating when she says all of the jobs are in Manhattan. A 2013 report from the Brookings Institution shows that almost a third of the New York metropolitan region's jobs can be found within 3 square miles in Midtown. Living in close proximity to this job hub comes at a premium, of course, and many working-class people aren't able to pay it: Two-thirds of New Yorkers with one-way commutes of more than an hour make less than $35,000. But because New York never demolished any of its public-housing complexes like so many major American cities, there are plenty of other NYCHA buildings in higher-income corners of town that are often within easy commuting distance.

New York city

But off-lease living isn't limited to complexes in upscale neighborhoods. Gigi remembers that many of her neighbors in the Bronx also had family and friends shacked up in their apartments, even though that public-housing complex was in a much rougher, more isolated part of town.

"It's pretty common," says Gigi, who has lived in the Amsterdam Houses for more than two years. "Especially when children get older and they find jobs but can't afford rent. They don't know what to do, so they stay there. It makes sense. The rent's going up every year and the lotteries [to get access to newly constructed affordable housing] are a joke."

A 2014 report from the Furman Center found that the median rent across New York City increased by 12% between 2005 and 2013, a number that includes rent-stabilized and subsidized apartments. That number obscures the extent of the affordability crisis for those looking to begin a lease on a market-rate apartment, where the median rent asked in 2013 was $2,900. The median income of renter households, meanwhile, increased by just 2.3%.

Though the total number of rent-burdened households — those paying 30% or more of their incomes in rent — has increased by more than 11% since 2000, lower-income renters like Gigi and her family were hardest hit. Fifty-five percent of three-person households earning $47,451 to $61,850 paid more than 30% of their income in rent. A 2014 Community Service Society report showed a 39% decline in affordable units across the city.

Gigi found herself on the losing end of that equation a couple of years ago, when she was crammed into a three-bedroom and one-bath rental with four housemates. For those close quarters in Bushwick each roommate was paying $800 a month.

On her salary of less than $40,000 a year at a nonprofit, it made good economic sense to move in off-lease with her parents at the Amsterdam Houses. There the total rent cost less than a third of the Bushwick apartment's, and using the bathroom wasn't a blood sport — at least until her sister's recent arrival.

It's difficult to know the exact numbers of ghost tenants. Guesses have ranged from 200,000 (hazarded by a NYCHA employee quoted in New York magazine's bravura profile of the housing authority's residences) to the official estimate of 100,000 calculated by NYCHA based on the amount of garbage generated by residents.

East Harlem public housing complex

NYCHA rejects the higher figure. "The extra 200,000 number is not from NYCHA — various advocates have cited this as fact, but it is not based on any analysis we're aware of," agency representative Zodet Negron says. She notes that one internal analysis found that men often stopped being reported on leases after age 24 or 25, presumably to avoid rent increases as they enter the workforce. Children under 5 often go unreported as well. "We acknowledge that there are likely more people residing in our developments than accounted for by our official tally. But we cannot interrogate everyone who comes in and out, as we do not want to create that type of environment."

Given the difficulties of charting the phenomena, it's pretty much impossible to measure whether rates of ghost tenancy map to economic downturns or factors like the Community Service Society's report's finding that, since 2002, "Rapidly rising rents in the private market outstripped increases in income for all but the top quarter of households."

It seems likely that off-lease living became more common after the 1960s, when NYCHA was forced to drop many of its more stringent eligibility requirements and open itself to lower-income families. (In earlier decades, public housing was reserved for stable working-class families; at times, households that received welfare or had only one parent were barred from entry.)

"Back in the 1970s, they were looking in people's garbage and at the use of water and were already thinking there were large numbers of unregistered tenants," says Nicholas Dagen Bloom, an associate professor at the New York Institute of Technology and co-editor of the recent book "Affordable Housing in New York."

"It's been an ongoing phenomenon for quite a long time. We are talking about a community that is increasingly poor, with limited options in the housing market. It's not that different from any poor community, in the sense that there's more variation in household composition and a much more complicated notion of family."

In some ways Gigi's household fits within this paradigm. Both her parents are disabled, and neither is able to work, which is part of the reason she lives off-lease — the rent is so cheap because their income is so low. If they added her to the lease, their rent would jump, and, as she hopes to move out soon, she doesn't want to leave them with the complication of hugely increased housing costs.

East Harlem public housing complex

Tenant organizer Betsy Eichel frequently encountered ghost tenants when she worked with the city's Department of Housing Preservation and Development. Usually they were staying with family or spouses. Many had jobs, but they were often part time or the kind of service-sector positions that pay even less than what she makes in her nonprofit gig.

Others were saddled with bad credit histories, which made securing housing on New York's hypercompetitive open market even more difficult than it would be otherwise. Those with drug convictions, or a criminal record of any kind really, would have an even harder time finding a place to live.

"They just couldn't make rent work anywhere else," Eichel says. "You can have a job and people still can't really find places to live. Some people are so attached to their neighborhood that they would take this risk to stay there. It might be worth it if the alternative is to have your life turned upside down. The only alternative, as they saw it, was to lay low and try not to get caught."

The consequences of ghost tenancy can be particularly punishing for the person whose name is actually on the lease. NYCHA rents are based on income — no more than 30% of the household's total intake — which is reported to the agency along with the details of the family's composition when a lease is signed.

When an individual moves in or out, tenants are supposed to inform NYCHA, and the rent will be adjusted accordingly. If a resident's income isn't reported, she is essentially gaming the system, which neither the feds or NYCHA looks kindly upon.

In theory, at least, the family in question can be evicted. In practice, according to tenant advocates, the city agency isn't particularly draconian in its enforcement and does have procedures that allow the ghost tenant to be added to the lease. But if NYCHA finds that the individual living off-lease has a recent criminal record, penalties are stiffer.

"There are many ways for us to find out," Negron says. "It's definitely illegal, and we bring action against them when we do find out. There are procedures under which we go after them if they haven't been reporting the income. Then they owe us. We bring the tenant in, and we bring action against them. I'm not saying they will necessarily be evicted for it, but we bring them in."

The easiest way to catch a ghost tenant is to trace them via employment, tax, or public-assistance records. If someone living off-lease receives mail at his NYCHA apartment or uses the address at the doctor or with his employer, the likelihood of being found out is far greater. That's why Gigi's driver's license still has her old address on it, and she uses a P.O. box if her employer needs an address.

Despite these precautions, Gigi knows she needs to move on. She has been looking for a new place, though she still can't find an apartment she can afford in the city. The lotteries for designated affordable housing in new apartment towers seem hopeless. A recent article in DNAinfo showed that in the 60 most recent lotteries, 2.9 million applications were received for 3,400 units of housing.

SEE ALSO: Here are the 15 least affordable housing markets in the US

MORE: New York City is in a housing crisis, while more than a thousand lots are vacant

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The best time of year to list your home for sale is coming up fast

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neighborhood sidewalk

In early May, homes sell fastest and for more money, according to the newest data. This is the new magic listing window for the country's 25 biggest metro areas.

Weather and housing market dynamics affect the exact best window to sell in different areas, and this year, a low supply of homes on the market has pushed the window later in the spring.

In Zillow's first analysis of the best time to list, homes listed between mid-March and mid-April sold fastest and for the highest price.

But the decline of the number of homes on the market has increased competition, so shoppers who start looking for a home in early spring may need to look at several homes and will often still be shopping a few months later.

By May, some buyers may be anxious to get settled into a new home before the next school year — and will be more willing to pay a premium to close the deal.

For sellers hoping to sell quickly and get the maximum sale price for your home, the time to list is right in the first half of May. Nationally, homes sold May 1-15 sell about 18.5 days faster and for 1 percent more than the average listing. That means an average premium of $1,700 for the seller of a median home.

Today, Zillow has launched a new tool to personalize this data for individual sellers. The new Best Time to List feature estimates how much more money a seller can make by changing the listing date on their individual home.

The tool is live for 71 million off-market homes, and registered Zillow users can find it by clicking the "Sell Your Home" on the home details page for an individual home. 

The methodology for the analysis, originally featured in "Zillow Talk: Rewriting the Rules of Real Estate," is detailed on Zillow Research.

SEE ALSO: The 10 best big cities in the US to buy a home instead of rent

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The 25 most expensive ZIP codes in America

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10007 nyc zip code

The 25 most expensive ZIP codes in the US are unsurprisingly concentrated on the coasts.

The real-estate listings site Property Shark recently used 2015 sales data to determine which ZIP codes across the US were most expensive for buyers.

Pricey enclaves in California took up 17 places on the list, while New York took seven and New Jersey snagged the final spot.

You'll find well-known neighborhoods like Beverly Hills (90210) alongside more low-key names like Water Mill, New York. San Francisco is also quite popular, and costly for it.

Only ZIP codes containing more than five sold properties were considered for the list. Property Shark's sister site, Point2Homes, helped us find listings that were close to each of the ZIP codes' median sales price.

SEE ALSO: The most expensive homes you can buy in 30 countries

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25. 95070: In Saratoga, California, the median sale price for a residence is $2.2 million. For that, you can get something like this quaint three-bedroom cottage not far from Saratoga Village.

Median sale price: $2,200,000



24. 94010: In the northern California city of Burlingame, $2.2 million was the median sale price in 2015. An example: this four-bedroom on a quarter-acre lot that is in pristine condition. Burlingame also had the most houses sold in 2015 in the top 25, with 415 sales.

Median sale price: $2,215,000



23. 91108: The sunny San Marino, California, makes the list with a median sale price of about $2.3 million. For just under $2.4 million, here's a ranch-style five-bedroom set back in a private cul-de-sac. Not pictured: the backyard pool.

Median sale price: $2,275,000



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Now there's going to be a Salesforce skyscraper in New York, too (CRM)

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Salesforce is moving into a skyscraper in New York and renaming it the Salesforce Tower New York.

The company is consolidating its three New York offices into the building at 3 Bryant Park (1095 Avenue of the Americas) in midtown starting later this year, and its logo will replace the MetLife logo currently on top. Salesforce is also revamping the lobby with large video displays.

The company won't say how many employees are moving in, but said it plans to hire "hundreds" of new workers there in the next few years. It has more than 19,000 employees worldwide.

At 630 feet high, it's only the 80th tallest building in New York, according to Wikipedia. So it won't compare with the 1,070-foot Salesforce Tower under construction in San Francisco, which will be the tallest building in that city when it's done in 2018.

Here are a couple pictures of the building with the Salesforce branding on it.

salesforce tower ny

sf tower2

SEE ALSO: Salesforce CEO Marc Benioff extends an 'open hand' to laid-off IBM workers and asks for their resumes

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A Russian billionaire wants to build a massive tower that looks like a snake

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cobra tower

Russian designer Vasily Klyukin has envisioned the "Asian Cobra Tower." Just as its name suggests, the gold-plated tower takes the shape of a snake, offering offices and apartments in its body and a restaurant, night club and terrace in its jaws. 

"In Japan telling someone that he is a snake means a compliment. In China snakes and dragons often mean the same," says Klyukin. "The symbol of wisdom and eternal life, this tower would embellish any Eastern city."

cobra tower 2

"Snakes and dragons are custodians of threshold, temples, treasure, esoteric knowledge and all lunar gods. If this skyscraper is built in a city this city will become eternal in its resurrections," adds Klyukin.

cobra tower 5

"The diamond-shaped pattern on the back of the snake is the symbol of Yang and Yin, duality and reunification of the Sun and the Moon, male and female principles, conciliation of opposites, and androgyny."

cobra tower 8"Snakes change their skin, as this skyscraper can change its coloring."

SEE ALSO: Dubai is building a $2.8 billion amusement park — here's what it might look like

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