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newsreal
peter's bookmarks on real estate and new york city in the media
Thursday, December 6, 2007 | New York Magazine

Untangling the Mess Around the Hudson Yards Project

Together with Moynihan Station to the east, Hudson Yards is one of the largest land grabs in New York history.

Thursday, December 6, 2007 | CNN

Home equity down in the third quarter

Federal Reserve reports that owners' home equity drops to barely above 50 percent, falling home prices are a factor. Economists expect this figure, equal to the percentage of a home's market value minus mortgage-related debt, to tumble even further as falling home prices eat into equity.

Thursday, December 6, 2007 | The Real Deal

Tiki Barber and the Related Co. launch affordable housing program

Former New York Giants star Tiki Barber has launched a program with the Related Companies to buy and restore older affordable housing developments around the country. He plans extensive work in NY and NJ.

Thursday, December 6, 2007 | Seeking Alpha

5 Holes in the Government's Mortgage Bailout Plan

This plan makes for good headlines and may very well make the general public feel as if the government is doing something to address the mortgage crisis. However, that doesn’t change the fact that the plan will be of limited efficacy and is out of touch with the reality behind the mortgage crisis.

Thursday, December 6, 2007 | RealEstateJournal

Many Subprime Borrowers May Be Able to Refinance

Many borrowers with subprime mortgages have reasonably good credit and may be able to refinance into a less costly mortgage by taking advantage of government programs, Eric Rosengren, president of the Federal Reserve Bank of Boston, said in a recent speech.

Thursday, December 6, 2007 | The Real Deal

Manhattan House evictions dismissed

A housing court judge has dismissed eviction proceedings against a group of tenants at the famed Manhattan House building on the Upper East Side, a decision that could set back one of the biggest condo conversions in the city's history.

Thursday, December 6, 2007 | The Real Deal

Zeckendorf: Revisiting the legacy of a master builder

Feature story on William Zeckendorff Sr. As New York City ushers in an era of vast development projects— this is a take on a developer whom "presaged the current climate for grandiose planning".

Thursday, December 6, 2007 | Wall Street Journal

Some Cry Foul Over Relief Plan For Borrowers

Some homeowners are complaining that the Bush administration's plan to give subprime borrowers a break on their mortgages, isn't fair to borrowers who didn't overextend themselves. Others argue that the government shouldn't be involved in perpetuating a housing bubble that needs to deflate.

Thursday, December 6, 2007 | Bloomberg

U.S. Stocks Rise; Countrywide, Washington Mutual, Apple Climb

U.S. stocks climbed for a second day, led by financial shares, on expectations a government plan to limit subprime mortgage defaults will boost bank profits.

Thursday, December 6, 2007 | Seeking Alpha

Housing: After the Bust Comes the Freeze

The Bush Administration will announce that an agreement has been reached to freeze the interest rates on certain adjustable subprime mortgages for five years in what will probably amount to the first of many fingers being stuck in the "housing dike", formerly known as the "housing boom".

Thursday, December 6, 2007 | metro

Washington Square Park plan OK'd

The Bloomberg administration has succeeded where even Robert Moses failed, as its long-disputed plan to redesign Washington Square Park can now proceed, a judge ruled yesterday.

Thursday, December 6, 2007 | New York Observer

Rail Yard Bidders, City Hall: BFF?

The West Side rail yards competition has pitted some of the biggest developers in the city against one another in an intense race to win the right to build 12 million square feet of office, residential and retail space. The developers bidding for the West Side rail yards all boast Bloomberg administration ties. But it’s the M.T.A. they’ve got to get chummy with

Thursday, December 6, 2007 | New York Observer

The Walk-Up Gets Elevated

Building buyers see a potential for greater profits through investing in even the ugliest ducklings on the unlikeliest blocks.

Thursday, December 6, 2007 | New York Observer

Butts on Columbia Expansion: Politicians 'Polluted' Negotiations on Community Benefits

At a panel discussion on development in the city, multiple community organizers and the Reverend Calvin Butts, pastor of Harlem’s Abyssinian Baptist Church, criticized the process of forming community benefits agreements (CBAs) in order to bolster public and governmental support for large development projects.

Thursday, December 6, 2007 | New York Post

Help on the way for property owners

The city will provide $2.8 million to launch the largest municipal program in the nation to advise property owners caught in the subprime mortgage crisis how not to lose their homes.

Wednesday, December 5, 2007 | New York Daily News

State Sen. Carl Kruger paid for protest to target hearing on Coney project

Organized by the Coney Island Development Corp., the meeting was expected to include an in-depth review of the city's plan to redevelop and rezone the amusement mecca; But three days before the meeting, State Sen. Carl Kruger called on local groups in a bid to enlist members to storm the meeting and raise questions about how the city planned to fund the project.

Saturday, December 1, 2007 | New York Times

Between Buyers and Sellers, a Stalemate

Now, brokers say, they see a stalemate developing between buyers and sellers in Manhattan, especially for apartments in the $1 million to $5 million range.

Wednesday, November 28, 2007 | New York Observer

Silverstein Brings Back the Billion-Dollar Building Buy

Silverstein Properties, in a joint venture with CalSTRS, last week won negotiations to buy the Paramount Group’s one million-square-foot tower at 1177 Avenue of the Americas for more than $1 billion

Wednesday, November 28, 2007 | New York Observer

'The Trough Is Coming'

The Real Estate Board of New York held a luncheon at the Sheraton in midtown today, with members of a panel stacked with CEOs coming to a general consensus that the market’s temperature has dropped substantially from the searing hot days of early 2007.

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