Does A Famous Real Estate Mogul Need To Leave New York For A Market Bounce?

KEY POINTS

  • New York relies on real estate for half of its tax revenue
  • New York City hit by pandemic, with unemployment much higher than the national average
  • Trump suggested he and his wife, Melania, would relocate to Florida

Real estate values in New York City could get a lift if one of its more high-profile occasional residents, President Donald Trump, permanently moves to Florida after he leaves office, real estate agents claimed.

Online news tabloid TMZ reported, without quotes or identifying its sources, that a Trump departure could boost real estate values in New York City. If he does leave the city, as he pledged in October 2019, the tabloid notes that security measures at his buildings would be downgraded and access to the building and surrounding areas would improve.

“If Trump scrams … most, if not all, of that goes away — which our sources say would help

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Uber Founder Turns Real-Estate Mogul for Ghost Kitchen Startup

The former chief executive of

Uber Technologies Inc.

has been quietly assembling a mini real-estate empire over the past two years, acquiring closed restaurants, auto-body shops and warehouses for use in his new ghost kitchen venture.

Entities tied to Travis Kalanick’s CloudKitchens, a startup that rents out space to businesses that prepare food for delivery, have bought more than 40 properties in nearly two dozen cities for more than $130 million, according to a Wall Street Journal review of public property and corporate records and data from the commercial real-estate database Reonomy.

The analysis linked various limited-liability companies that own the properties to business addresses of CloudKitchens’ parent, City Storage Systems LLC, and to its senior leaders. These acquisitions include buildings from Portland, Ore., and Las Vegas to Columbus, Ohio, and Nashville.

While real-estate brokers said they were aware that Mr. Kalanick’s firm had been in the market, the extent

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