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Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountHarry Macklowe faces major losses on Miami, Midtown projectsHarry Macklowe faces major losses on Miami, Midtown projectsSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debt
New York

High numbers might be bad news

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Lawyers for buyers of 328 condo units, new and existing, filed deeds with the Department of Finance last month, and average condo prices have improved since last summer. But the positive-sounding numbers might actually mean bad news, brokers said. High prices for the few units that have sold so far in 2009 have driven up the average and median condo prices for the year. And major banks have imposed restrictions on lending for new condos, said Dolly Lenz, vice chairman at Prudential Douglas Elliman, requiring that 70 percent of the units in a development be in contract before mortgages can be issued, jeopardizing newer developments.