Massive LES development moves forward and the housing recovery stumbles … and more

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1. Housing recovery stumbled last month as the number of pending sales fell 2.6 percent nationwide [Bloomberg]
2. Nets owner Mikhail Prokhorov won’t buy a hockey team until he brings New York an NBA championship, something he’s promised to do by 2015. [Post]
3. Land-use committee approves massive Seward Park development on the Lower East Side [NYO]
4. Police digging up a driveway looking for Teamster Jimmy Hoffa [NYDN]
5. Toronto real estate prices continue to climb as inventory drops [Toronto Life]
6. Residents say Astoria hookah bar is ‘out of control’ [DNAinfo]
7. Oracle CEO Larry Ellison drops $37M on former Yahoo CEO’s Malibu mansion [Forbes]
8. Richard Branson wants to get people to move to Mars [TMZ]
9. City opens $325 million hospital in Harlem [Crain’s]
10. Young mom-and-pop owners in Brooklyn find business weighs on relationships [NYT]
11. Fairway spends to combat rodent problem [DNAinfo]
12. 119 Madision Ave and 27-29 East 30th Street sells for $18.45 million, minuscule 3.75% cap rate [NYO]
13. Coldwell Banker acquires three offices in Fairfield, Stratford, and Trumbull [Trumbull Times]
14. Foriegn purchases up 24 percent over previous year in the US []