Saturday, August 30th, 2008
Centro Properties Group posted a net loss of $1.77 billion for the fiscal year ended June 30, reflecting a decline in property values and investments.
Archive for August, 2008
Saturday, August 30th, 2008
Fannie and Freddie are demanding higher returns from lenders in exchange for buying loans that help finance rental-apartment buildings, as the two mortgage-finance giants expand in the sector.
Friday, August 29th, 2008
The rapid increase in the number of wealthy Indians will have a "potentially huge" impact on the U.K.'s residential property market, according to a new report.
Friday, August 29th, 2008
Spanish home sales and new mortgage approvals fell sharply again in June. The data spell bad news for banks.
Friday, August 29th, 2008
John Paulson cuts the price on his Hamptons home; Manhattan's Spence School buys a townhouse; NBA's Ray Allen trims the price of his Washington home, while a few miles away MLB's Jay Buhner lists his house.
Friday, August 29th, 2008
Wall-to-wall windows have become a signature of chic urban living, from Minneapolis to Miami. But some residents say the reality can be less glamorous.
Friday, August 29th, 2008
Federal bank regulators said they believe a plunge in the preferred shares of Fannie Mae and Freddie Mac would have limited impact through the banking system.
Friday, August 29th, 2008
Rates on fixed-rate home mortgages fell this week, following reports of weakness in the economy. But rates on adjustable-rate mortgages rose slightly.
Thursday, August 28th, 2008
The City’s Most Glorious Co-op Flip!
Bommers Selling New Duplex for $48.9M
In what will surely go down as one of the most splendid flips in the history of ultra-posh New York City real estate, the young hedge fund executive Scott Bommer and his wife Donya, once an anchor for “Good Day Philadelphia,” have sold their duplex penthouse at 1060 Fifth Avenue for around $48.9 million, according to a source.
Not only does the sale come in the middle of a relatively sludgy, even gloomy real estate market, but there’s the downright flabbergasting fact that the Bommers bought the apartment only this January. They paid $46 million, setting a record for a Manhattan co-op sale. Read the rest of this entry »
Thursday, August 28th, 2008
New York real-estate investor Adam Hochfelder has been arrested for allegedly "stealing more than $17 million from a panoply of banks and individuals."
