Manhattan Condo, Co-op Prices Edge Upward in 4Q
New York–For the sixth quarter in a row, average for-sale residential prices in Manhattan are up, although the increases were relatively small.
Lenders Take Over Seattle-Area Condo Development
Bellevue, Wash.–Morgan Stanley and the other senior lenders have finalized their ownership of the unsold units of Bellevue Towers after the original developer threw in the towel.
Caringella Joins Magellan’s New Project Services Subsidiary
Magellan Development Group has tapped residential finance industry veteran Carmen Caringella to serve as director of the company’s newly established problem-solving consulting business, Magellan Project Services L.L.C.
Kurt Pairitz Joins Newcastle Limited
Chicago–Kurt Pairitz has joined Newcastle Limited as senior vice president.
PODCAST: January Market Update
NAHB Economist Bernard M. Markstein, III discusses the most recent market trends, including how industry demand and ramped-up manufacturing led to a buyers market.
Prudential Douglas Elliman Expands to Westchester
New York, NY–Prudential Douglas Elliman has acquired Prudential Holmes & Kennedy, a family-run brokerage firm servicing Westchester and Putnam counties in New York.
Economy Watch: U.S. Office Market Sees Positive Absorption
Reis Inc. reports positive office absorption for the first time since 3Q07, and New York City is packing in the tourists.
The Crossing Achieves LEED Gold Status in Orange County
Anaheim, Calif.–SARES-REGIS Group’s transit-oriented The Crossing has officially achieved LEED Gold certification.
MC Cos. Buys Texas Apartment Property from TIC
San Antonio–MC Cos. has acquired the Overlook Apartments in San Antonio, a two-story, garden-style property with 411 units.
Economy Watch: Unemployment Claims Drop as Year Comes to Close
U.S. workers filing applications for unemployment dropped the week ending Christmas Day; 2010 saw 157 banks fail; and the NAR Pending Home Sales Index rose.