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An FBI spokesperson says that for the time being the agency is not commenting on the case. But already the investigation has provided a window into yet another layer of corruption that took place amid the national housing boom and its subsequent hangover—a period that saw a surge in real estate malfeasance of every imaginable […]

If you’ve been in Park Slope recently, you can probably guess how things turned out for the Lehane house. But you may not know why. How did the Brooklyn of the Lehanes and crack houses turn into what it is today—home to celebrities like Maggie Gyllenhaal and Adrian Grenier, to Michelin-starred chefs, and to more […]

Kare’s first assignment was developing fonts for the Mac OS. At the time, digital typefaces were monospaced, meaning that both a narrow I and a broad M were wedged into the same bitmapped real estate — a vestigial legacy of the way that a typewriter platen advances, one space at a time. Jobs was determined […]

New York didn’t invent the apartment. Shopkeepers in ancient Rome lived above the store, Chinese clans crowded into multistory circular tulou, and sixteenth-century Yemenites lived in the mud-brick skyscrapers of Shibam. But New York re-invented the apartment many times over, developing the airborne slice of real estate into a symbol of exquisite urbanity. Sure, we […]

Two of Wall Street’s savviest value investors, Bruce Berkowitz and David Einhorn, pride themselves on their rigorous analysis. Now they’re locked in a scorched-earth dispute over the value of some Florida real estate. How could they look at the same facts and reach such wildly different conclusions, and what does that say about the “value” […]

In the 1990s, some of the trailers at Paradise Cove went for as little as $25,000, while trailers with an ocean view sold for up to $400,000. But in the housing boom of 2006, prices went up tenfold, much more than in the rest of Malibu, even though buying a trailer is a pretty sketchy […]

Tom Barrack, a billionaire investor who made his fortune in real estate, has discovered a market in distressed celebrities. With Neverland Ranch and Miramax under his belt, he’s now on a shopping spree—and bringing along his buddy Rob Lowe.

You might think that Mikhail Prokhorov would have had a not-so-soft case of buyer’s remorse this past spring. A month before the start of the National Basketball Association season, the 45-year-old Russian billionaire struck a deal to buy the New Jersey Nets from the real estate developer Bruce C. Ratner. When the league owners finally […]

As summer begins, what better way to measure Wall Street’s health than a real-estate tour of the Hamptons? For every mansion on the sales or rental market, there’s a story—sometimes involving Bernie Madoff—and brokers are shell-shocked. The author surveys the deals, no-deals, lawsuits, divorces, and teardowns that characterize this strange, dark season.

As we navigate this speculator’s paradise turned financial wasteland, Mr. Joseph stands at the front of the bus in a green polo shirt, highlighting specimens like this one: a white stucco house fronted by palm trees and topped by a Spanish tile roof on a canal emptying into the Gulf of Mexico. It last sold […]