Short sales and foreclosures had been foreign words in the Hamptons until now. Hamptons residents in fear of foreclosures are turning to “short sales,” selling them for less than the mortgage amount. According to PropertyShark.com, the East End reported 415 foreclosure notices from October 2007 to March 2008, a 30 percent increase compared with six months prior. The Real Deal took a look at a short sales in its May issue.
|Queens property purchased for $125M by Chinese firm headed to foreclosure|
|JLL I-sales broker out amid merger with HFF|
|This 19th century UES townhouse just traded hands for a loss|
|Blackstone will pay rent-stabilized tenants $1M. It won’t stop the lawsuit.|
|Vornado sells 45% stake in prime Manhattan retail portfolio valued at $5.6B|
|Marriott to build the tallest modular hotel in the world in NoMad|
|Mueller Report provides new info on Trump Tower Moscow, Felix Sater and more|