10:38:24 | 2012-07-03
Good Morning New York! Here’s the news:
Manhattan Home Prices Reported Steady
Prices and sales volume for Manhattan real estate continued to hold relatively steady in the second quarter of 2012, because of a continued decline in inventory, low interest rates and increased foreign investment.
Office market recovery slows to a crawl
The office market’s recovery, which began a year and a half ago, slowed in the past three months as weak employment and worries about the economy discouraged renters, according to a report by real estate research firm Reis Inc.
Tension for East Hampton as Immigrants Stream In
The Long Island Rail Road station in the town of East Hampton is a manicured place; the little white station house flanked by tidy trees almost looks like a child’s toy that just came out of the box. It is a short drive from the beach and steps from lavish boutiques, stores like John Varvatos and Coach.
The Many Houses of Tom Cruise and Katie Holmes
In case you haven’t heard (and if you haven’t, are you living under a rock?!), Hollywood power couple Tom Cruise and Katie Holmes have called it quits. But here at AOL Real Estate, what we want to know is: What’s going to happen to all of their homes?
Hamptons Couple Forced To Tear Down Mansion Over Construction Mistake
Today, our thoughts go out to Eric and Margaret Friedberg, the Hamptons couple who were recently forced to tear down the foundation of their sprawling Southampton Village home because a flaw in the planning gave the property no space for a backyard or a pool, reports The New York Post.
After Repositioning, Midtown Trophy Gets Big Refi
PBC USA Real Estate LLC said late Monday afternoon that it had secured a $400-million loan from JP Morgan Chase to refinance 452 Fifth Ave., the 30-story office tower it acquired in a $330-million sale-leaseback from HSBC in April 2010. Shawn Rosenthal of Ackman Ziff arranged the refi, which consists of a $300-million, 10-year senior loan and $100 million of mezzanine debt.
The Prime Minister Of Qatar Buys New York City’s Most Expensive Home For $100 Million
The billionaire Prime Minister of Qatar will pay $100 million for the most expensive apartment in New York City, the New York Post is reporting.
After Chapter 11, Long Island Developer Gets Another Shot with Luxury Hotel
Allen Rosenberg just got a second chance to achieve his dream of owning an oceanfront Long Island luxury hotel about 30 miles from New York City.
Tragedy Averted in Brownstone Collapse; Dozens Displaced but No One is Hurt
Tragedy was averted Monday when debris from the partial collapse of a Brooklyn brownstone piled onto a children’s bunk bed in the middle of the night — but the family was on vacation and no one was home.
Barriers at Wall Street area’s ‘Charging Bull’ are dangerous: community board
The barricades around the iconic “Charging Bull” statue in the Financial District aren’t just ugly — they’re also pushing tourists dangerously into traffic, community advocates charge.
Former Lazard Chief Ali Wambold Downgrades From a Townhouse To a Two-Bedroom
The Manhattan real estate market may seem like a stellar investments, especially given the spate of high-profile, high-profit sales in recent months, but apparently not everyone wants all their money tied up in townhouses.
Putting NYC’s Underground Railroad on the Map
Hovnanian CEO sells $17.9M West Village townhouse
Ara Hovnanian, chief executive officer of Red Bank-based homebuilder Hovnanian Enterprises, sold a townhouse in Manhattan’s West Village for $17.9 million, a 15 percent discount from what he initially sought.
Home Properties Announces Acquisition Costs for Howard Crossing Apartment Community
In conjunction with the acquisition of Howard Crossing in Ellicott City, Maryland announced earlier today by Home Properties, Inc. (NYSE: HME), the Company said acquisition costs of approximately $2.2 million will be included in other expense in the 2012 second quarter.
The ‘Manhattanization’ of Toronto will change family-housing dreams
The housing dreams of families wanting to live in central Toronto will undergo a sea change in the coming decade as the supply of detached homes dwindles and the remaining ones soar in price, real estate experts say.
Developer Related Cos. wagers on South Loop
In a bold bet on the recovery of the downtown condominium market, a New York developer has taken over nearly 500 unsold units in three failed South Loop towers, the biggest distressed condo deal since the crash.
Nine-Building Bronx Portfolio Trades for $33M
As multifamily trades continue to heat up in the Bronx, a nine-building portfolio in the Longwood section of the borough has changed hands for $33.25 million, GlobeSt.com has confirmed.
Queens construction worker clings to side of building for nearly a half hour after scaffolding collapses as FDNY comes to his rescue
A Queens construction worker who was stranded balancing precariously on a sixth-floor window sill was rescued by firefighters after a scaffolding collapse Monday.
Singapore Green Developments ‘Dwarf Those of New York’
Having never visited Singapore, New York City’s parks and recreation chief Adrian Benepe expected to land on an island crowded with tall, grey buildings.
For more information about reprints & permissions, visit our FAQ's. To report corrections and clarifications, contact Standards Editor Lisa Prado. For publication consideration in the newspaper, send comments to hello@brokerPulse.com. Include name, phone number, city and state for verification.