• UPDATE ON REAL ESTATE IN THE MIDDLE EAST

    UPDATE ON REAL ESTATE IN THE MIDDLE EAST

    Abu Dhabi’s two largest property developers lifted the emirate’s bourse on Monday as investors cheered the pair’s merger talks, while Egypt’s Palm Hills (PHDC.CA) dragged down the market after reporting lower revenue. Aldar Properties ALDR.AD and Sorouh Real Estate SOR.AD surged 9.8 percent each. The two firms said late on Sunday they were looking at a state-backed merger and a decision was expected within three months. “Aldar holds a very high amount of debt on… FULL STORY

     
  • Website Exposing The Face Of Foreclosure To Bring Resolution

    Website Exposing The Face Of Foreclosure To Bring Resolution

    Across the nation, families are struggling to make payments on their mortgages, some are being faced with the daunting notion of foreclosure, and others have sadly resorted to unthinkable homeless conditions after being hit by the dire consequences of the housing crisis in the U.S. With all of this turmoil happening right in our backyard, we are finally seeing some public action towards resolution that does not come attached with a political agenda. A coalition… FULL STORY

     
  • Top Picks for Real Estate Investors

    Top Picks for Real Estate Investors

    Two investments are looking up in today’s real estate market: rental properties and REITs (real estate investment trusts). Demand for rental apartments is booming due to an uptick in employment, resulting in people relocating to areas with job opportunities, like New York City. With home ownership at a 12-year low, and few signs of growth anytime soon, investors are looking for the best way to capitalize on the economy’s current boost in earnings. The investment… FULL STORY

     
  • Record-Breaking Lease Deal Rumored on Fifth Avenue in New York City

    Record-Breaking Lease Deal Rumored on Fifth Avenue in New York City

    MAC Cosmetics, a division of Estee Lauder, is rumored to have signed a record-breaking $3,000 per sq. ft. lease at 691 Fifth Avenue, near 54th street.  The building is owned by Vornado Realty Trust, and the 1,400-sq. ft. space was formerly occupied by Elizabeth Arden’s Red Door Spa. Fourth quarter reports indicate that the average rent on upper Fifth Avenue was $2,388 per sq. ft., securing it as the most expensive retail strip in the… FULL STORY

     
  • Home Prices at Lowest Point in more than 10 Years

    Home Prices at Lowest Point in more than 10 Years

    By Alexa Jaccarino Home prices fell to their lowest point in more than a decade in January, which helped to lift the pace of home sales, according to a report from an industry trade group. The National Association of Realtors reported that the median home price in January fell 2% from December to $154,700, the lowest price reading since November 2011, just before the run-up in home prices that became known as the housing bubble.… FULL STORY

     
  • A Moment in the Limelight, 30 Years Late

    A Moment in the Limelight, 30 Years Late

    By Alexa Jaccarino The architect Abraham J. Simberg has finally received professional respect and appreciation for the vibrant Jazz Age tower he inscribed on the downtown Brooklyn skyline in 1928—the 30-story Brooklyn Chamber of Commerce Building, now a residential co-op, at 75 Livingston Street.  The building is the crown jewel in the new Borough Hall Skyscraper Historic District along Court Street, created last year by the Landmarks Preservation Commission and sustained Feb. 1 by the… FULL STORY

     
  • Bernanke Blasts Housing Regulation

    Federal Reserve Chairman, Ben Bernake

    According to the Federal Reserve Chairman, Ben Bernake, impediments to mortgage lending are actually holding back the central bank’s efforts to bolster economic growth. Moreover, he is criticizing the speed in which the housing market is being repaired, calling for further action. “We have helped lower mortgage rates to the lowest point in many, many decades,” Bernanke told homebuilders today in Orlando, Florida. “Yet we are not seeing as much activity as we would like to… FULL STORY

     
  • U.S. Banks Dishing Out $25 Billion To Distressed Homeowners

    U.S. Banks Dishing Out $25 Billion To Distressed Homeowners

    After over a year of negotiations, the U.S government just reached a settlement with top U.S. banks, providing relief to the housing market. According to Reuters, top banks will be providing $25 billion to distressed homeowners, as they are being held responsible for taking illegal shortcuts during foreclosures and for other deceptive lending practices. Included in this deal are Bank of America Corp, Wells Fargo & Co, JPMorgan Chase & Co, Citigroup Inc and Ally… FULL STORY

     
  • H&H Bagel Closes Its W. 46th St. Store As Landlord Takes Possession

    H&H Bagel Closes Its W. 46th St. Store As Landlord Takes Possession

    H&H Bagels is toast. The H&H Bagels store on W. 46th Street – the last remaining location owned by founder Helmer Toro – was shuttered by a New York City Marshal, marking the end of the road for the iconic New York bakery. New York City Marshal Edward Guida of Corona, Queens slapped an eviction sign on the window of the store early Thursday when display cases were still filled with bagels. Toro, who had… FULL STORY

     
 

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