Centro Sees a Net Loss, Sells Assets
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.
Month: August, 2008
Fannie, Freddie Expand in a Bright Spot
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.
U.K.’s Housing Lures Rich Indians
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.
Home Data in Spain Spell Gloomy News
Spanish home sales and new mortgage approvals fell sharply again in June. The data spell bad news for banks.
Paulson Cuts Price of Hampton Home
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.
People Who Live in Glass Houses
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.
Fannie, Freddie Impact on Banks Downplayed
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.
Mortgage Rates Fell in Week
Rates on fixed-rate home mortgages fell this week, following reports of weakness in the economy. But rates on adjustable-rate mortgages rose slightly.
Now THIS is how to flip a property! Yeah!
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.
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Hochfelder Accused of Larceny in Deals
New York real-estate investor Adam Hochfelder has been arrested for allegedly "stealing more than $17 million from a panoply of banks and individuals."
