Madonna and Guy Ritchie's divorce continues to make headlines as the estimated wealth of the couple is in the hundreds of million pounds. In the seven years of their marriage they have amassed a nice property portfolio in both of their names, however, it will be interesting to see whether Guy will squeeze Madge for some of her pre-wedding fortune, estimated at over £300 million
Housing starts fell more than expected in September to 817k, representing a month-over-month decrease of 6.3%, according to data released from the U.S. Department of Commerce on Friday morning. The drop pushes the number of starts to its second lowest level ever and lowest since 1991.
The Lower Manhattan Cultural Council has been selected to run an artists’ studio and exhibition space on Governors Island that will include a year-round artist residency and weekend events.
Insight on housing, the upcoming Presidential election and the markets, with Gov. David Paterson
In the face of the current economic meltdown, some people have more reason than others to worry — people, for example, who need to spend their savings very soon. For them, fear serves a purpose: it encourages action, which may prevent further losses.
New York City’s long-running building boom will peak this year, before new office and residential projects peter out in the coming years and the number of construction jobs falls by almost 30,000 by 2010, according to a report released on Tuesday by the New York Building Congress.
The chairman of the Federal Reserve, Ben S. Bernanke, warned that the American economy was headed toward an extended period of difficulty, despite worldwide efforts to stabilize the financial markets.
I have a friend who regularly reminds me that if you jump off the top of an 80-story building, for 79 stories you can actually think you’re flying. It’s the sudden stop at the end that always gets you. When I think of the financial-services boom, bubble and bust that America has just gone through, I often think about that image.
Real estate brokerage company Redfin has laid off about 20 percent of its employees, and CEO Glenn Kelman assured today that that the downsizing has more to do with "drastic economic changes" than the company's business model.
The Treasury Department, in its boldest move yet, is expected to announce a plan Tuesday to invest up to $250 billion in large and small banks, according to officials. The United States is also expected to guarantee new debt issued by banks for a period of three years, officials said.
What great timing on this Nobel Prize announcement! Paul Krugman, a professor at Princeton University and an Op-Ed page columnist for The New York Times, was awarded the Nobel Memorial Prize in Economic Sciences.
Moving swiftly to restore confidence, central banks around the world flooded the financial system with billions of dollars in liquidity. Britain, France, Germany, and several other European nations announced aggressive plans to guarantee loans, take ownership stakes in banks and prop up ailing companies with billions in taxpayer funds.
Billionaire term limits proponent Ronald Lauder confirmed his support for Mayor Bloomberg's and the City Council's legislation to add another term to term limits--and expressed his hope it would be overturned after (presumably) Bloomberg was re-elected.
Stocks fell sharply in late afternoon trading in New York on Thursday Oct. 9th as concerns about the global financial system mounted and investors priced in a deep recession.
In a glimmer of hope that housing nationally has found its bottom; Pending home sales rose 7.4 percent from July to August, an industry group said Wednesday in an unexpected piece of positive news for the battered housing market.
It's a tough time for buyers and sellers. With financial news headlines about Wall Street's meltdown ratcheting up the fear factor, both sides are cautious about plunging into the real estate market.
Curiously named rental to join other high-profile projects on West Side Highway. Truffles Tribeca is joining other high-profile buildings along the West Side Highway, such as the Superior Ink building that the Related Companies is constructing and the trio of glass Richard Meier buildings farther north.
According to numbers prepared by research site StreetEasy, Manhattan has 168 apartments and townhouses asking at least $15 million each. Nearly twice the number from autumn 2006. However the Observer also notes the inadequacies of some of Street Easy's data saying "Brokers also say their tallies show fewer big listings; StreetEasy includes some duplicates." Street Easy gathers data using web crawling "robots" which compile ad-hoc data from brokerage sites.
The real estate industry must rethink the market fundamentals, the long-held demographic and economic beliefs that experts argued would drive the housing demand into the future.
The government's $700 billion bailout plan is in the hands of Neel Kashkari, a relatively green assistant secretary in the Treasury department, will be responsible for the government's purchasing of billions of dollars of bad assets from banks and other financial agencies. His career has been a short one.
The world’s major central banks — including the Federal Reserve, the Bank of England and the European Central Bank — moved together to stanch the financial crisis.