This Week in Comments

TRD New York /
Jul.July 17, 2009 05:10 PM

Results of poll about real estate lending
I am very positive because the banks actually seem to be doing due diligence for the first time in years. I find it hard to believe that if a deal made sense adjusting for expected short-term economic conditions, banks would not compete to lend on the deal. The respondents to this poll are all looking for a return to bubble era lending and it will just not happen.

Setai condo buyers granted right to cancel contracts, get deposits back
1. This is a gift — grab your deposit back and run. It’s like buying a stock the day before it tanks and then undoing the trade. It never happens.
2. It seems like 90 William [Street] was the only real success story in FiDi.

15 Broad Street unit fails to sell at auction
The real problem was that no one could see the apartment. How are people gonna bid if they can’t view the product?

255 East 74th Street — a condo not worth more than a glance

1. The problem is, the architecture is inappropriate for the neighborhood. The entire area is graced with elegant pre-war buildings. This sticks out like a sore thumb. And, like all these glass structures, it is going to look dated and disgusting in about five years.
2. I live down the street. This building looks like an old metal diner.

Rosen, Fuchs personally responsible for Shangri-La Hotel loan: amended complaint
If these banks foreclose on people like Rosen and Fuchs, who are they going to go to take the projects over? They would probably have to go back to them to finish the project or they are going to lose money on it.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

HFZ managing director John Simonlacaj and The XI development (Credit: LinkedIn and Wikipedia Commons)

HFZ’s High Line condo-hotel project was ATM for the mob, prosecutors say

220 Central Park South and 423 Park Avenue (Credit: iStock and StreetEasy)

Why ultra-luxury condo buyers are paying millions too much

Bill Rudin and Dock 72

No regrets on WeWork bets: Rudin confident on weathering WeWork storm

From left: Simon Baron Development's John Simon, TF Cornerstone's Frederick Elghanayan, and MaryAnne Gilmartin (Credit: Getty Images)

Plaxall joins planning group for post-Amazon development

arrow_forward_ios