National market report

Commercial and residential real estate news briefs from the most active U.S. markets
December 11, 2009 10:25AM

From the December issue: A Boston developer has hit a few snags in its plan to build a giant residential tower. Goldman Properties wants to construct a 25-story, 232-unit apartment building and parking garage in the Fort Point Channel neighborhood that, if built, would be the tallest structure in the neighborhood. Goldman will have to make concessions in order to gain construction approval for the 315,000-square-foot development from the Boston Redevelopment Authority, the Boston Globe reported. The developer’s options include building 30 affordable housing units or donating another property for local artists displaced by the project. To sweeten the deal, Goldman has offered to pony up $900,000 to help build more parks in the neighborhood. Meanwhile, two of Nicolas Cage’s foreclosed homes, both in New Orleans, were brought to auction by Regions Bank, which had originally seized the properties. The first, a 13,000-square-foot French colonial home priced at $3.4 million this spring, sold for $2.2 million, the Wall Street Journal reported. The other, the supposedly haunted LaLaurie Mansion in the city’s French Quarter, originally priced at $3.55 million, went for $2.3 million. Cage reportedly owes the city $151,729 in unpaid taxes, which the city extracted from the deal. The actor has already shed properties in New York City and beyond, and reportedly owes the IRS around $6.3 million in unpaid taxes. Compiled by Amy Tennery


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