Yearly Archives: 2010

November 1, 2010 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today announced that with the passage of his 2011 No Property Tax Increase Budget, Nassau County’s finances have begun to be repaired after years of mismanagement, a poor economy and overspending. Mangano praised Presiding Officer Peter Schmitt and the Republican Legislative Majority for joining him in holding the line on property taxes while adopting reforms to close a $343 million deficit – the largest in our County’s history

BUFFALO, NY - November 1, 2010 - (RealEstateRama) -- U.S. Attorney William J. Hochul, Jr. announced today that a federal judge has ordered the forfeiture of two parcels of real property in Buffalo’s Elmwood Village which were purchased with drug proceeds from an international drug organization. The properties, a commercial building located at 427 Elmwood Avenue, and a single-family residence at 262 Bryant Street, were forfeited as part of a five-year Boston, Massachusetts-based Organized Crime Drug Task Force investigation and prosecution. Buffalo-based DEA and ICE agents and forfeiture specialists in the Buffalo U.S. Attorney’s Office assisted in the investigation and prosecution

NEW YORK, NY - October 29, 2010 - (RealEstateRama) -- Thursday, October 28, 2010--New York State Homes and Community Renewal (HCR) today approved $287.8 million in financings and grants to build and rehabilitate 1,854 affordable homes, create jobs and stimulate local economies

New York, N.Y. - October 28, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced it has signed on as the new, exclusive sales and marketing firm for Windows on 123, a premier luxury condominium development in Harlem

NEW YORK, NY - October 28, 2010 - (RealEstateRama) -- The Bracha Group, a luxury real estate group of Prudential Elliman in New York City, sold a three-bedroom, three and half bath condominium at 15 Central Park West, one of Manhattan’s newest premier parkside dwellings last Thursday, October 7, 2010.

October 27, 2010 - (RealEstateRama) -- Ms. Caldwell, you and the Department of Treasury deserve substantial credit for pushing an industry towards mortgage modifications and preventing avoidable foreclosures when that industry failed to appropriately act. In this way, Treasury’s HAMP program has shown great potential. Thanks to your work, we have a new industry standard that has kept more people in their homes than otherwise would have been able – certainly more than HAMP’s monthly reports demonstrate on their own.

New York, NY - October 26, 2010 - (RealEstateRama) -- SL Green Realty Corp. (NYSE: SLG), New York City's largest owner of commercial office properties, owning more than 20 million square feet of office space in Manhattan, and The Moinian Group, headed by developer Joseph Moinian, today announced they have reached an agreement to recapitalize Three Columbus Circle - a midtown Manhattan office tower currently in the final stages of a major redevelopment. The recapitalization includes a standby mortgage commitment and a potential future investment by SL Green that will make funds available for the completion of the redevelopment and lease-up of the property

New York, NY - October 26, 2010 - (RealEstateRama) -- City Council Speaker Christine C. Quinn joined with leaders from City agencies Housing Development Corporation (HDC), Housing Preservation and Development (HPD) and the New York City Housing Authority (NYCHA), as well as representatives from developer Artimus Construction and Citi Community Capital in celebrating the groundbreaking of Elliott Chelsea on West 25th Street and 9th Avenue in Manhattan. The 22-story new construction development will provide 168 units for low-to- middle-income families. The $65 million development is located on land provided by NYCHA and is part of a larger plan to develop more affordable housing on NYCHA properties in Chelsea. The sale of this site will bring in an estimated $4 million in revenue to the Housing Authority, a critical component in preserving public housing in a time of diminishing Federal spending

New York, NY - October 26, 2010 - (RealEstateRama) -- “If we are in a recovery, which it appears we are, I must note that this has been from the bottom up versus the top down. Happily, we seem to have stabilized and so the news is good for New York City,” stated Elizabeth Stribling, president of Stribling & Associates. The recently published Stribling State of the Market report cites a number of important market observations

New York, NY - October 26, 2010 - (RealEstateRama) -- Another milestone was reached this year with the commemoration of the decade-long re-tenanting of historic 48 Wall Street, a 324,000 square foot, 34-story office building built in 1927 that was fully restored to its original grandeur. A rededication of the building celebrating its landmark status was previously held in 2002 with an unveiling of a plaque just below the original cornerstone dating back to 1784 from the first building that stood at 48 Wall Street. The ceremony marking that occasion was held in the building’s two-story Grand Banking Hall which served as the main banking area for the Bank of New York. The Landmarks Preservation Commission initially dedicated the building as a New York City landmark in October 1998, and the plaque seen today marks that dedication. Today, The Grand Banking Hall houses the Museum of American Finance, a member of the Smithsonian Affiliation Program.

New York, NY – October 21, 2010 – Home sales across 25 of the largest metropolitan areas in the country declined roughly 10 percent in August compared to July, according to the August 2010 RPX Monthly Housing Market Report released today by Radar Logic Incorporated. This was the largest decline in sales activity from July to August observed in Radar Logic’s data set, which dates back to January 2000. The rapid declines in home sales during August are a continuation of the record declines from June to July, and reflect a continued weakening in demand for home purchases.

October 21, 2010 - (RealEstateRama) -- PREET BHARARA the United States Attorney for the Southern District of New York, announced that MARK ALAN SHAPIRO, the founder of the Cobalt Companies was sentenced today to 85 years in prison on charges stemming from a fraud that raised more than $23 million from over 250 investors in private placement real estate offerings. SHAPIRO was sentenced in Manhattan federal court by U.S. District Judge KIMBA M. WOOD, who presided over the three-week jury trial at which SHAPIRO, along with codefendants IRVING STITSKY and WILLIAM B. FOSTER, was found guilty.

NEW YORK, NY - October 21, 2010 - (RealEstateRama) -- The Federal Reserve Bank of New York today presented an update on the region’s economic conditions, noting a varied pace of recovery—with New York City and parts of New York State recovering more rapidly than many other parts of the nation, and New Jersey and Puerto Rico lagging the nation

New York, NY - October 21, 2010 - (RealEstateRama) -- U.S. Rep. Carolyn Maloney (D-Manhattan, Queens) wrote to the Federal Housing Finance Agency...

New York, NY - October 19, 2010 - (RealEstateRama) -- The NYS Supreme Court, Appellate Division, First Department, unanimously affirmed the dismissal of all claims made by EHARM in their fight against the East Harlem M/E/C LLC. East 125th Street project; despite the misuse of municipal might, power, and procedure to take private, productive commercial property and hand it over to a secretly selected development group, beset by trouble.

New York, NY - October 19, 2010 - (RealEstateRama) -- Azure (www.azureny.com), the spacious 34-story luxury residential building at 333 East 91st Street at First Avenue on the Upper East Side, has arranged a new financing facility of $145.1 million from HSBC and its participating lenders.

New York, NY - October 12, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced they will showcase the top Brooklyn and Manhattan developments in a joint open house during the weekend of October 16, 2010.

Washington, DC - October 11, 2010 - (RealEstateRama) -- Congressman Eliot Engel (D-NY 17) called for a fair and just settlement for Local 32BJ workers who are in negotiations with the Building and Realty Institute of Westchester and the Mid-Hudson Region, Inc. The Congressman’s statement and his letter to the management company follow below

Huntington Station, NY - October 7, 2010 - (RealEstateRama) -- Suffolk Executive Steve Levy joined Huntington Supervisor Frank Petrone and town board members on October 5 for the razing of dilapidated structures as part of a program to transform Huntington Station blight into attractive, affordable housing.

New York, N.Y. - October 7, 2010 - (RealEstateRama) -- The New York State Banking Department today announced that more than 76,744 90-day pre-foreclosure notices were sent to New York homeowners who have fallen behind on their mortgage payments since May 31, 2010.

Middletown, NY - October 5, 2010 - (RealEstateRama) -- Congressman Maurice Hinchey (D-NY) and Congressman John Hall (D-NY) today announced they helped secure a federal investment to help pay for new supportive housing in the Village of Walden for female veterans returning from Iraq and Afghanistan who face difficult economic and other challenges.

New York, NY - October 5, 2010 - (RealEstateRama) -- Strategic Development and Construction Group and Lemle & Wolff, Inc., developers of Beacon Towers, a new cooperative residential development in Harlem, today announced a price reduction on most remaining available homes.

Albany, NY - September 28, 2010 - (RealEstateRama) -- Governor David A. Paterson today joined Mayor Bob Duffy, Senator Joe Robach, Assemblyman David Gantt, Commissioner/CEO of the recently integrated housing agency NY State Homes and Community Renewal (HCR)

Mineola, NY - September 29, 2010 - (RealEstateRama) -- As Nassau County once again achieves the dubious status of having the second highest property taxes in the United States, Nassau County Executive Ed Mangano again vowed not to implement a hefty property tax increase to close a massive deficit facing the County in 2011.

NEW YORK, NY - October 1, 2010 - (RealEstateRama) -- Halstead Property Development Marketing today announced that Columbia Commons, a newly constructed residential development in Brooklyn’s growing Columbia Street Waterfront District, is now just one deal away from being 50% sold just four months after sales started