Category Archives: Real Estate News

One World Trade Center, the ‘Freedom Tower,’ becomes New York’s tallest building

One World Trade Center, the so-called Freedom Tower currently under construction in Lower Manhattan, technically became New York City’s tallest building on Monday, as workers erected steel columns on the 100th floor, 1,271 feet above the street, to make it stand 21 feet higher than the Empire State Building’s observation deck. The Freedom Tower, which […]

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Americans more confident in housing recovery About 60% of those surveyed last month had positive views about the housing market and 70% expect property values improve over the next two years

(Bloomberg) – Potential homebuyers and sellers are growing more confident that the U.S. real estate market will begin to recover as soon as next year, according to a Prudential Real Estate survey. Some 60% of people surveyed last month had positive views about the housing market and 70% expected property values to improve over the next […]

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Manhattan land rush is on Developers return to ground, bulk up on building sites as economy begins to turn

Feverishly working to wrap up two deals during Thanksgiving weekend, developer Joseph Sitt barely had time to sit down for dinner with his family. But by the following Tuesday, Thor Equities’ chief executive had much to be grateful for. That day he signed contracts to buy two Manhattan development sites, one on Fifth Avenue and […]

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Fed Extends Record-Low Interest Rates Through Late 2014

The Federal Reserve announced on Wednesday that it will not increase its benchmark interest rate until at least late 2014, saying that record-low rates are still needed to help boots the still sluggish economy. Hot Feature: Gravity of Debt Crisis Casts Shadow on World Economic Forum in Davos After a two-day meeting of the Federal Open Market Committee, […]

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Has the Housing Market Finally Found Its Footing?

By MEG HANDLEY For those looking for a bright spot amid the barrage of depressing data recently, news that housing prices were up for the third month in a row might have buoyed morale a bit. The latest data from the Standard & Poor’s/Case-Shiller homeprice index showed that home prices in the nation’s largest metropolitan areas ticked up […]

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Instant view: Housing starts hit 6-month high

from: Reuters (Reuters) – Housing starts rose more than expected in June to touch a six-month high and permits for future construction unexpectedly increased, a government report showed on Tuesday, likely reflecting growing demand for rental apartments. COMMENTS: LINDSEY PIEGZA, ECONOMIST, FTN FINANCIAL, NEW YORK “It’s stronger than expected in starts and housing. But nevertheless […]

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Construction Spending Hits A 5-Year Low

From: Wall Street Journal. Construction spending in New York City dropped 12% last year, falling to its lowest level since 2005, according to a new report. Builders cut back on residential housing and office buildings even as the city’s economy slowly began adding jobs again. Part of the drop last year was due to big […]

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Biggest NY affordable complex since ’70s under way

From  The Wall Street Journal NEW YORK — The first phase of New York City’s largest affordable housing complex since the 1970s is slated to open in 2014 and will feature rooftop decks and gardens, as well as 5 acres of waterfront parks and views of Manhattan’s skyline, Mayor Michael Bloomberg announced Wednesday. Phipps Houses, […]

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U.S. Commercial Property Rises For Second Consecutive Month

From Bloomberg U.S. commercial property prices rose 1.3 percent in October from the previous month, the second consecutive monthly gain, Moody’s Investors Service said. The Moody’s/REAL Commercial Property Price Index climbed 3.2 percent from a year earlier, Moody’s said in a report today. Demand is rising for the best office buildings in major markets including […]

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