Real estate in brief

February 04, 2010 10:46AM

FHA approves new Harlem development

A new 12-story Harlem development, 2280 FDB, has been approved for Federal Housing Administration’s financing, according to a release sent by developer RGS Holdings and Halstead Property Development Marketing, the development’s sales team. With the newly-granted FHA-backed loans, buyers will be able to purchase units at 2280 FDB with down payments ranging from 5 to 10 percent. The development, located at 2280 Frederick Douglass Boulevard at the corner of 123rd Street, contains 89 units, ranging from one- to three-bedrooms and prices ranging from $395,000 to $1.33 million.

Former Clarrett exec launches urban development advisory group

Daniel Hollander, the former senior managing director of the Clarett Group, has launched a new, nationwide investment and development consulting firm headquartered in New York City. The company, Daniel Hollander & Associates, will focus on urban real estate projects “across all property types,” according to a release sent yesterday. Hollander, who, prior to working with Clarett, spent 12 years working in the development of affordable housing in New York and Chicago, said that urban development requires an extra level of understanding on the part of the principals and stakeholders, in order to be successful. “The need… for the experience and hands-on know-how that a seasoned real estate consulting firm can provide has never been greater than it is today,” Hollander said in a written statement.

Vacation company to liquidate Times Square condo in bankruptcy auction

Sheldon Good & Company is set to auction off a one-bedroom, one-bathroom condo at 1600 Broadway on March 19, one of seven residences set to be auctioned as part of the High Country Club’s Chapter 7 bankruptcy liquidation. The individual and vacation residences in High Country’s portfolio are located across the country in New York City and Florida, among other locales. The properties, which High Country had purchased at prices ranging from $690,000 to $1 million, will have opening bids as low as $150,000. The auction will take place in Denver, but out of town bidders will be able to participate via Proxibid. TRD