East Side crane collapse … and more 

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  • 1. Stop-work order issued for 303 East 51st Street after crane collapse kills four [NYT] and [Post] and [Post]
  • 2. A look at Kennelly Development Co., the developer behind the ill-fated 44-story East Side tower [Post] and [NYT]
  • 3. Suburban bidders try to lowball [NYT]
  • 4. The challenge of selling a home for less than what is owed on it [NYT]
  • 5. Tenants accuse MTA Chairman H. Dale Hemmerdinger of neglecting his properties [Post]
  • 6. The southwest corner of Madison Avenue and 72nd Street prepares for the flagship store of Ralph Lauren [NYT]
  • 7. The Edge, Brooklyn’s biggest condo development in years, will soon hit the market [NYT]
  • 8. Three-fourths of America’s cobblestone buildings and homes are in western New York [NYT]
  • 9. Despite cutting interest rates five times and pumping $200 billion into
    the economy, the Fed’s is struggling to revive the housing market
  • http://www.bloomberg.com/apps/news?pid=20601206&sid=aUP.dJzuCqwY&refer=realestate
  • [Bloomberg]
  • 10. Woodside, Queens, tries to cope with rapid development [NYT]
  • 11. Subprime mortgage meltdown will overtake Hurricane Katrina to break record for losses for insurance companies [Bloomberg]
  • 12. Long Branch, N.J., finds success with rentals, while Asbury Park struggles with condos [NYT]
  • 13. Commercial developers are suing because they aren’t getting the mortgage rates they were promised [Bloomberg]
  • 14. City’s Department of City Planning says new Sunset Park re-zoning recommendations will limit new high-rise condos [Brooklyn Eagle]
  • 15. Urban Outfitters opens first Brooklyn store, a two-level store at 164 Atlantic Avenue between Court and Clinton streets [Brooklyn Eagle]
  • 16. Fed bailout is last-ditch effort to save Bear Stearns from subprime oblivion [NYDN]
  • 17. Co-op at 32 Gramercy Park South sues suing a pair of tenants for decorating their third-floor apartment for the holidays in violation of building rules [Post]
  • 18. President George W. Bush responds to critics who charge him with an inadequate response to the subprime crisis by saying that he won’t be stampeded into “bad policy decisions” that could hurt the economy [Bloomberg]
  • 19. Thornburg Mortgage, unlike its rivals, stayed away from risky loans, but still holds billions in mortgage-backed securities that have tanked [NYT]
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