Items by By TERRY PRISTIN
NYT > Business
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Square Feet: The Kusher Companies’ Deal for 666 Fifth Avenue Avoids Foreclosure
Posted: January 17th, 2012, 6:29pm EST by By TERRY PRISTIN
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The Kusher Companies’ $1.8 billion deal for 666 Fifth Avenue in 2007 quickly ran into trouble as the recession took hold. But with the help of another investor, the loan has been modified.
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Square Feet: Tenants Await Landlord’s Next Move in a Manhattan Landmark
Posted: September 21st, 2011, 1:32am EDT by By TERRY PRISTIN
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Gary Barnett has spent tens of millions restoring the Belnord, a landmarked Manhattan apartment building, but debt may force him to give it up.
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Square Feet: Who Invests in Low-Income Housing? Google, for One
Posted: January 26th, 2011, 1:48am EST by By TERRY PRISTIN
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As banks retreat, corporations like Google and Verizon are stepping up to buy tax credits from developers of low-income housing and get the projects moving again.
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Square Feet: New Life for Hangar That Produced ‘Spruce Goose’
Posted: December 8th, 2010, 1:00am EST by By TERRY PRISTIN
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The Los Angeles developer Wayne Ratkovich plans to redevelop the cavernous structure as the centerpiece of a complex of sound stages.
NYT > Health
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Skin Deep: A Safety Kink in Hair Relaxing?
Posted: November 4th, 2010, 12:37pm EDT by By TERRY PRISTIN
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A process of straightening frizzy hair produces unpleasant odors, but is it dangerous, especially to the stylists?
NYT > Business
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Square Feet: In Times Square, at Least, Retail Is Rebounding
Posted: October 26th, 2010, 5:38pm EDT by By TERRY PRISTIN
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In neighborhoods like Times Square and SoHo, the presence of tourists is making space desirable.
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Square Feet: Above Ground, a 2nd Ave. Subway Plan Attracts Critics
Posted: September 1st, 2010, 1:15am EDT by By TERRY PRISTIN
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A half-dozen buildings on Second Avenue will house ventilation equipment, disperse smoke and allow for evacuation from subway tunnels in emergencies.
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Square Feet: Deals Show There’s Still Life in Manhattan Office Market
Posted: June 9th, 2010, 12:49pm EDT by By TERRY PRISTIN
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The market has been stagnant for years, but investors are becoming active again.
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Square Feet: Sales Rise in Miami as Low Prices Attract Investors
Posted: April 20th, 2010, 5:39pm EDT by By TERRY PRISTIN
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Condos with sales contracts nearly doubled in March from a year earlier in Miami-Dade County, where prices have fallen by 51 percent since 2007.
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Square Feet: InterContinental Takes a Chance With a New Hotel
Posted: February 24th, 2010, 12:35am EST by By TERRY PRISTIN
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The InterContinental will be the largest hotel built from the ground up to open in the city since the Westin in 2002.
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Drake Hotel’s Prime Space Remains Undeveloped
Posted: November 17th, 2009, 7:26pm EST by By TERRY PRISTIN
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Real estate specialists say the vacancy is likely to leave a gash in the middle of the nation’s costliest office submarket for years to come.
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Proposed Supermarket Divides Bronx Community
Posted: September 30th, 2009, 2:08am EDT by By TERRY PRISTIN
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When a developer proposed transforming the Kingsbridge Armory into a shopping mall with a new supermarket, an existing, smaller supermarket chain felt threatened.
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Square Feet: For Commercial Real Estate, Hard Times Have Just Begun
Posted: September 2nd, 2009, 2:10am EDT by By TERRY PRISTIN
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Those in the commercial real estate market are hardly in a festive mood, despite some recent encouraging signs.
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Manhattan Hotels Fill Rooms at Rock-Bottom Rates
Posted: August 19th, 2009, 1:55am EDT by By TERRY PRISTIN
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An average one-third cut in rates has led to high occupancy and kept defaults low among New York hotels.
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Square Feet: As Prices Plummet, Condo Sales in Miami Perk Up
Posted: July 29th, 2009, 3:36am EDT by By TERRY PRISTIN
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Lenders are taking back properties from developers in “friendly foreclosures” and putting them on the market.
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In Manhattan, Softer Rents, Better Deals
Posted: July 15th, 2009, 1:24am EDT by By TERRY PRISTIN
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Whether rents have bottomed out is debatable, but there are signs that tenants have greater bargaining power and that landlords are making concessions.
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A Trying Time in Housing for Elderly
Posted: July 1st, 2009, 2:33am EDT by By TERRY PRISTIN
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Tough economic times have meant that only 54 or 240 units at Fox Hill have closed in the six months since the project was completed.
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Square Feet: With a Little Help, Greens Come to Low-Income Neighborhoods
Posted: June 16th, 2009, 10:06pm EDT by By TERRY PRISTIN
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A public-private partnership has helped bring fresh produce to neighborhoods in Philadelphia where there were few choices for nutritious food.
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Flatiron Rents Deflate With Bubble
Posted: June 3rd, 2009, 1:13am EDT by By TERRY PRISTIN
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The average annual asking rent in the Flatiron district fell 29 percent to $285 a square foot from $401, the Real Estate Board of New York found.
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At $2.3 Billion, This Mall Could Be Too Big to Fail
Posted: May 20th, 2009, 1:21am EDT by By TERRY PRISTIN
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The opening of the Meadowlands Xanadu, an entertainment and retail center, is now delayed until sometime next year as the builders sue a lender for money and the owners line up tenants.
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Shovel-Ready, but Investor-Deprived
Posted: May 5th, 2009, 11:17pm EDT by By TERRY PRISTIN
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Many banks and other institutions have stopped buying tax credits, leaving developers of income-restricted housing projects without adequate financing.
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Square Feet: Shakeout Nears for Real Estate Firms
Posted: April 22nd, 2009, 2:09am EDT by By TERRY PRISTIN
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Several large REITs plan to avoid following General Growth Properties into bankruptcy court by reinvigorating themselves with capital from new equity issues.
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Square Feet: Developers Struggle to Fill Manhattan Office Space
Posted: April 15th, 2009, 1:47am EDT by By TERRY PRISTIN
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To attract prospective tenants to new or rehabbed buildings, landlords are tailoring their marketing efforts to today’s economic realities.
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George Stoddard, Financing Pioneer, Dies at 92
Posted: April 1st, 2009, 3:07am EDT by By TERRY PRISTIN
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Mr. Stoddard was a pioneer in the use of real estate transactions known as sale-leasebacks to provide financing for companies having trouble gaining access to traditional sources of capital.
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Square Feet: A Promising Miami Revitalization Project Is Stalled
Posted: March 18th, 2009, 2:32am EDT by By TERRY PRISTIN
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A recovery of railyards near Biscayne Bay has hit the slump that is undercutting real estate elsewhere, but what has been completed is drawing praise.
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Miami Condo Colossus Is Monument to Excess
Posted: March 11th, 2009, 1:28am EDT by By TERRY PRISTIN
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A $1.25 billion condo complex in Miami is symbolic of the area’s oversupply problem.
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Square Feet: A Renter’s Market for Manhattan Offices
Posted: December 31st, 2008, 1:34am EST by By TERRY PRISTIN
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After the financial markets collapsed, companies that were looking for space found accommodating deals.
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Square Feet: A List a Landlord Doesn’t Want to Be On
Posted: December 17th, 2008, 12:45am EST by By TERRY PRISTIN
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A report finds $107 billion worth of income-producing properties nationwide are already or potentially in financial trouble.
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Square Feet: Mortgage Troubles Are Moving Downtown
Posted: December 10th, 2008, 2:08am EST by By TERRY PRISTIN
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Investors in commercial real estate are concerned about a growing number of loan delinquencies.
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Square Feet: Debt Struggles and Elderly Living
Posted: November 26th, 2008, 4:15am EST by By TERRY PRISTIN
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The credit crisis is battering the two largest publicly traded operators of housing for the elderly.
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General Growth, Mall Owner, May Be Facing a Sale
Posted: October 15th, 2008, 1:18am EDT by By TERRY PRISTIN
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A hasty purchase decision from the past has come back to haunt General Growth and may lead to the sale of the 54-year-old company.
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Risky Real Estate Deals Helped Doom Lehman
Posted: September 17th, 2008, 1:53am EDT by By TERRY PRISTIN
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Significant losses that Lehman Brothers suffered from its part of the acquisition of Archstone-Smith, a national apartment portfolio, helped to bring down the investment bank.
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Fear of Defaults After a Flurry of Apartment House Sales
Posted: August 26th, 2008, 11:07pm EDT by By TERRY PRISTIN
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The recent disclosure that the owners of Riverton Houses, a 1,228-unit apartment complex in Harlem, might default on their loan has shocked the real estate industry.
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Mortgage Giants Find a Bright Spot in Rental Financing
Posted: August 13th, 2008, 1:15am EDT by By TERRY PRISTIN
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Financing for multifamily housing represents only a small portion of Fannie Mae and Freddie Mac’s business, but it has been positive for both of them.
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Mortgage Giants Find a Bright Spot in Rental Financing
Posted: August 13th, 2008, 1:15am EDT by By TERRY PRISTIN
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Financing for multifamily housing represents only a small portion of Fannie Mae and Freddie Mac’s business, but it has been positive for both of them.
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Building’s Sale at a Loss Reflects Market Travails
Posted: July 23rd, 2008, 12:39am EDT by By TERRY PRISTIN
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The office building at 1372 Broadway is changing hands at a loss of $41 million compared to its sales price a year ago.
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Diamond District Tenants Worry About Spate of Building Deals
Posted: July 8th, 2008, 11:08pm EDT by By TERRY PRISTIN
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Developers’ plans to transform the area’s skyline with new spaces for residential and office use cause existing tenants to fear they will be priced out.
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Community Demands a Voice in a Landmark’s Revival
Posted: June 24th, 2008, 9:49pm EDT by By TERRY PRISTIN
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Residents of the northwest Bronx are reaching out to the private developer who will transform the Kingsbridge Armory into retail space, asking that labor standards and community space be included.
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The Optimistic (and Long) View of Larry A. Silverstein
Posted: May 14th, 2008, 1:23am EDT by By TERRY PRISTIN
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At a time when many developers around the country are being forced to pull in their reins, Larry A. Silverstein has only to look out his windows to see a new real estate empire in the making.
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Square Feet: As a Weaker Office Market Looms, Landlords Bargain
Posted: April 1st, 2008, 11:48pm EDT by By TERRY PRISTIN
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The credit squeeze is gradually putting tenants in the driver’s seat in Manhattan’s office market.