Yearly Archives: 2010

New York, NY - December 30, 2010 - (RealEstateRama) -- Richard S. Hartunian, United States Attorney for the Northern District of New York, Rene Febles, Special Agent in Charge of the Office of Inspector General, U.S. Department of Housing and Urban Development in New York, John F. Pikus, Special Agent in Charge of the Albany Division of the Federal Bureau of Investigation, and Lt. John D. Durling of the New York State Police Special Investigations Unit announced that Michael Cassadei was sentenced today by Senior United States District Judge Thomas J. McAvoy in Albany to twenty-seven (27) months in prison, to be followed by three years’ supervised release, for his role as organizer of a local mortgage fraud scheme.

WASHINGTON, D.C. - December 28, 2010 - (RealEstateRama) -- The Federal Reserve Bank of New York today released Why Is the Market Share of Adjustable-Rate Mortgages So Low?—the latest article in its series Current Issues in Economics and Finance.

New York, NY - December 28, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced that the certificate of occupancy was received at The Ellison, a luxurious residential development in the heart of West Harlem at 2255 Adam Clayton Powell Jr. Blvd at 133rd Street

Albany, NY - December 23, 2010 - (RealEstateRama) -- New York State home sales continued to slow in November, falling by more than 8 percent from October and by nearly 32 percent from the November 2009 sales pace, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price continued to rebound from a year ago.

New York, NY - December 22, 2010 - (RealEstateRama) -- U.S. Senator Charles E. Schumer (D-NY) today announced a major milestone for seniors and individuals with disabilities across the country, as two pieces of legislation he sponsored passed Congress and were sent to the President for his signature. One of the bills, S. 118, is designed to streamline the Section 202 Supportive Housing for the Elderly program, which funds affordable housing for low-income seniors and protects their right to “age in place” through the provision of supportive, community-based services

WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- Congressman Charles B. Rangel joined a bipartisan majority Tuesday in passing legislation that will improve a federal housing program for those with disabilities.

WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- Congressman Charles B. Rangel applauded Congressional leaders Tuesday for passing a proposal that preserves and improves the Department of Housing and Urban Development's (HUD) Section 202 Supportive Housing for the Elderly Program.

Mineola, NY - December 16, 2010 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano has announced that Warm Bed, Nassau’s homeless program providing shelter relief to families and individuals during cold winter months, has been activated. A one-stop Nassau County Winter Homeless Hotline, 1-866-WARM-BED, will operate 7 days a week and run through March 31. County Executive Mangano activated the program and hotline five days early, on December 10, in anticipation of the cold weather. Warm Bed was originally scheduled to open on December 15 this year. If winter conditions persist beyond March 31, the program will continue until warmer weather arrives

New York, NY - December 16, 2010 - (RealEstateRama) -- SL Green Realty Corp. (NYSE: SLG) today reported that its board of directors has declared a dividend of $0.10 per share of common stock for the quarter ending December 31, 2010. The dividend is payable on January 14, 2011 to shareholders of record at the close of business on January 3, 2011.

New York, NY - December 16, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced that construction has been completed at Columbia Commons, a new residential development in Brooklyn’s Columbia Street Waterfront District.

December 15, 2010 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, and JANICE K. FEDARCYK, the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation ("FBI"), announced charges against four defendants in a two-year scheme in which the defendants obtained fraudulent mortgages exceeding $3 million

New York, NY - December 14, 2010 - (RealEstateRama) -- Savanna, a New York-based real estate private equity firm with investments in $3 billion of real estate in the Northeast and Mid-Atlantic corridor, today purchased 1375 Broadway, a 513,401-square-foot corner office building located on Broadway and 37th Street, for $135 million. With this purchase, Savanna has acquired four New York City office buildings in 2010, totaling approximately 1.4 million square feet, including 386 Park Avenue South, 5 Hanover Square, 104 W. 40th Street and now 1375 Broadway.

NEW YORK, NY - December 14, 2010 - (RealEstateRama) -- The U.S. Department of Labor has taken legal action to recover more than $829,000 in back wages for 32 workers employed as demolition laborers by Enviro & Demo Masters Inc. and Gladiators Contracting Corp., construction demolition companies based in Brooklyn and Queens.

December 13, 2010 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today announced the construction of a new home in the Village of Hempstead’s Parkside Gardens as part of an effort between the County, the Long Island Housing Partnership, the Village of Hempstead, and the Hempstead Village Community Development Agency (IDA).

New York, NY - December 9, 2010 - (RealEstateRama) -- The New York City Housing Authority Board Wednesday voted to approve the development of a new kindergarten-through-12th grade school and community center building at the St. Nicholas Houses development, to be built and operated by the Harlem Children’s Zone (HCZ). This new and exciting project is part of NYCHA’s effort to meet President Obama’s Choice Neighborhoods and Promise Neighborhoods challenge to housing authorities to integrate their residents with the larger community and link them to outside educational resources. The school building, to be funded by HCZ with assistance from the School Construction Authority, will be available also for community programming, including the use of the gymnasium in the evenings and on weekends

New York, N.Y. - December 9, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced that Windows on 123, a premier luxury condominium development in Harlem, is now 50% sold.

PREET BHARARA, - December 8, 2010 - (RealEstateRama) -- the United States Attorney for the Southern District of New York, announced that ANTOINETTE HODGSON was sentenced yesterday in Manhattan federal court to six years in prison for running a $50 million real estate Ponzi scheme that fraudulently solicited investments from over 20 New York and New Jersey investors. HODGSON operated the scam between 2006 and her arrest in early 2010, tricking investors into providing money to her for purported investments in real estate when, in fact, HODGSON was simply using the money to pay off other investors in the scheme and to enrich herself and her family members. HODGSON previously pled guilty on September 14, 2010, to one count of conspiracy to commit wire fraud and one count of wire fraud. The sentence was imposed by U.S. District Judge ROBERT W. SWEET.

New York, NY - December 8, 2010 - (RealEstateRama) -- In celebration of Chanukah, Kent M. Swig, President of Swig Equities LLC, joined New York City Comptroller John Liu, Rabbi Shmuel Butman and Michael Wainstein in lighting the world’s largest menorah on December 2, 2010, marking the second night of Chanukah.

New York, NY - December 8, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced they have signed on as the new, exclusive sales and marketing agent for 5th on the Park, a new, full-service residential high-rise on Upper Fifth Avenue.

New York, NY - December 7, 2010 - (RealEstateRama) -- West 147th Associates LLC and Halstead Property Development Marketing today announced that 50% of units are sold at PS90, a circa 1905 gothic style elementary school restored into a residential condominium in Harlem.

December 7, 2010 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Deputy Mayor for Economic Development Robert K. Steel, Deputy Mayor for Operations Stephen Goldsmith and Brooklyn Borough President Marty Markowitz today announced a plan to transform part of the City-owned Brooklyn Municipal Building into a vibrant retail use. The City issued a Request for Proposals (RFP) today seeking a developer or commercial business to buy or lease 37,000 square feet on the ground floor and second floor of the building at 210 Joralemon Street in Downtown Brooklyn.

Buffalo, NY - December 7, 2010 - (RealEstateRama) -- The New York State Energy Research and Development Authority (NYSERDA) has hired two new educators to teach the public about energy-related programs available to Western New York residents

WASHINGTON, D.C. - December 6, 2010 - (RealEstateRama) -- With consumer interest in environmentally sustainable homes remaining strong despite the economic downturn, the New York State Energy Research and Development Authority (NYSERDA) is formally announcing a program to spur the building and certification of more green homes across the state.

New York, NY - December 6, 2010 - (RealEstateRama) -- SL Green Realty Corp. (NYSE: SLG) and Gramercy Capital Corp. (NYSE: GKK) today announced an agreement for SL Green to purchase investments from Gramercy Capital Corp. for an aggregate price of $390.8 million, including the assumption of $265.6 million in debt. The transactions, which are expected to close within the next 90 days, are subject to the satisfaction of certain conditions

Washington, DC - December 3, 2010 - (RealEstateRama) -- Today, House Judiciary Committee Chairman John Conyers, Jr. (D-Mich.) led a full committee hearing on "Foreclosed Justice: Causes and Effects of the Foreclosure Crisis," in which the Committee discussed with invited witnesses the government’s response to the country’s foreclosure crisis.One of the witnesses, a New York bankruptcy judge, testified that he had routinely encountered in his court foreclosure attorneys who: failed to know who they represented, lacked the underlying note evidencing their entitlement to seek foreclosure, failed to establish the legal chain of title establishing the standing of their client-mortgagees, and submitted to the court false affidavits attesting to the ownership of the note and mortgage