Chatham Square reconstruction delayed, Manhattan apartment sales contracts increased last month … and more

1. Department of Transportation will delay Chatham Square reconstruction plan [CCRC via Curbed]
2. Battery Park City hit with foreclosures [Broadsheet Daily via Curbed]
3. Community Board 5’s land use review committee unanimously votes down Jean Nouvel’s Tower Verre [Curbed]
4. Flatbush Avenue’s 18-year-old Salvation Army to close [Brownstoner]
5. 2233 Caton Avenue condo sells out [Brownstoner]
6. Price of planned condo building at 364 Myrtle Avenue falls to $1.85 million from $2.4 million [Brownstoner]
7. Manhattan apartment sales contracts jump in May [NYO]
8. New York City hotel rates dropped 26 percent in April [Crain’s]
9.
Frank Cassou, executive vice president of NextWave Wireless, has gone
into contract to sell his Upper East Side townhouse [Cityfile]
10. New Yorkers debate buying or renting a home in the downturn [NY1]
11. Postal Service downsizing could cause NYC branches to close [CBS]
12. Nearly one in four homes on the market has seen price cuts [Reuters]
13. Real estate funds rise on housing news [The Street]
14. REIT professionals say worst may be over [WSJ]