Turkish billionaire pays $11M for second Plaza unit 10/01/09 The Plaza hotel and Turkish billionaire Turgay CinerA self-made billionaire from Turkey bought his second unit at the Plaza, this time paying $10.725 million for a 2,791-square-...
Can 11 Times Square hang on? 09/30/09 Like a vertical ghost town, 11 Times Square, the city's largest
speculative office tower, remains entirely unleased more than two years
after breaking ground in the summer of ...
For commercial brokers, the musical chairs begins 09/30/09 As commercial buildings change hands and landlords seek to squeeze more
profit out of their properties, full-service brokerage firms are
sharpening their knives for what insid...
Office asking rents slide in 3Q, report says 09/30/09 Dark blue is third-quarter 2008; grey is second-quarter 2009, light blue is third-quarter 2009 (Source: FirstService Williams)Manhattan office leasing market indicators were mix...
Landlords burned by confidence 09/29/09 Despite new glimmers of hope for landlords battered by months of bad
news, tenants with good credit remain firmly in control of the
Manhattan office leasing market, brokers sa...
Web hits: The month in review 09/29/09 Riverton appraised at less than half the value of loan
The Riverton Houses apartment complex in Harlem was reappraised at $108 million, less than half the value of its $225 mil...
This month in real estate history 09/29/09 1974: Nation's largest federal-supported housing project opens
Starrett City, the nation's largest federally subsidized housing project, was dedicated 35 years ago this month i...
Editor's note 09/29/09 Just like the economic crisis spread from subprime borrowers, then from
bank to bank, and finally throughout the broader economy, the
catchphrases used to capture the fallout ...
Fifth of U.S. real estate loans in distress 09/25/09 A national review of all categories of large loans in the United States
found that 20 percent of those secured by real estate are in distress,
the highest percentage among the...
SL Green battles Levy, Chetrit in Chelsea 09/24/09 Owners of 620 Sixth Avenue (left, source: PropertyShark) removed a parcel (see red box on image on red) once covered by a $235 million mortgage.Top real estate investors includi...
Sky Loft in Tribeca developer clears hurdle 09/23/09 The Tribeca developer who was forced to rebuild two duplex penthouse
units in his landmarked mixed-use project Sky Lofts, is moving forward
with plans to convert four more flo...
Hugo Boss exec pays $3.2M for Tribeca condo 09/22/09 The chairman and CEO for the Americas at men's clothing retailer Hugo
Boss, Mark Brashear, paid $3.2 million for a 2,793-square-foot
condominium in the Tribeca loft building a...
Riverton appraised at half the value of loan 09/17/09 The Riverton Houses apartment complex in Harlem was reappraised at $108 million, less than half the value of its $225 million mortgage, according to a report today from commerci...
Falling rents force principal mortgage cuts in Manhattan 09/17/09 The sharp decline in asking rents in Manhattan over the past year is
beginning to force lenders to reduce principal mortgage balances in
some buildings, one of the city's top ...
CIT Group sues for $12M at Noho condo site 09/11/09 Troubled Midtown-based commercial lender CIT Group is seeking to foreclose on a $12 million loan made to a developer that has been successful in Manhattan but recently came up s...
Demand for investment returns slows sales 09/10/09 While some small investors ought to consider buying properties and be satisfied by a modest return, many larger investors are holding out for returns above 20 percent, further s...
