In the August issue of The Real Deal, the story “Sweetening development deals in Jersey City” incorrectly stated the potential cost of a tax abatement agreement. Jersey City could lose up to $500,000 from the agreement, according to a city government official.
The story “Holding open houses for rentals” incorrectly identified 10 Hanover Square as a condominium. It is a rental building.
The story “Yakima blossoms” gave the incorrect name of the brokerage for which Chris Pauling works. The company’s name is Pacific Northwest Realty.
“Who got crunched — and who didn’t” stated incorrectly that Darcy Stacom did not broker Harry Macklowe’s sale of three buildings to Boston Properties. In addition to the sale of the General Motors Building, Stacom did in fact broker the sale of 540 Madison Avenue, 125 West 55th Street and Two Grand Central Tower.
An August 8 article posted on The Real Deal Web site, headlined “Former Massey Knakal Brooklyn head sues,” incorrectly stated the amount of money sought in the lawsuit. It is $3 million, not $12 million.
An article posted August 21 on The Real Deal Web site headlined “Developer Faces Foreclosure” identified RWO Acquisitions as currently partnering with General Electric on a project. In fact, an affiliate of Manhattan-based XE Capital Management has managed the project since March 2008.