News
Economy Watch: Negative Equity Continues to Drop
Zillow has released its latest Negative Equity Report, which says that the national negative equity rate was 18.8 percent in the first quarter of 2014 (that is, the percentage of mortgaged owner-occupied homes with negative equity).
Aberdeen Begins Selling Greenwich Townhouses
Aberdeen Realty Group has unveiled Milbank Court, a “re-imagined” townhouse project in downtown Greenwich, Conn., in metro New York, which the company is selling individually.
TODAY’S DEALS: NorthMarq Refinances San Diego Apartment Asset
NorthMarq arranges a $52 million refinancing in San Diego; ARA brokers a Texas sale to a Montana buyer; and Dominium acquires an affordable housing community in Florida.
Carroll Organization, Goldman Sachs Asset Management Acquire Mixed-Use Community in Tampa, Fla.
The Carroll Organization has announced that its joint venture with AIMS Real Estate has acquired the 617-unit mixed use community West Park Village, which is about 10 minutes north of Tampa, Fla.’s Westshore submarket. The property marks Carroll Organizations 14th major purchase in Florida and the asset is primed for value-add potential.
Phifer Quick Shade Offers Protection, Privacy for Apartment Balconies
While balconies and porches can provide a great extension of indoor living spaces, they can leave little to the imagination in the way of privacy. Phifer has a nifty and easy-to-install solution with their Quick Shade Screen, which provides refuge from the sun and nosy neighbors.
Incentives Aim to Green Up New York, Reduce Operating Costs for Building Owners
A recent study found that 75 percent of greenhouse gasses in New York City are being generated by buildings, a majority of which are multifamily residential buildings. The alarming figures have prompted companies to develop programs that incentivize green upgrades in an effort to entice multifamily building owners to curb emissions.
Integra Land Company Breaks Ground on $17M Florida Community
Integra Land Company is developing Integra Village at Lake Forest, a $17.375 million, five-building apartment community of village-style homes in Sanford, Fla.
CDT Elects Nicolas Retsinas as New Chair of the Board
The Community Development Trust announced that Nicolas P. Retsinas has been elected as the new chairman of the company’s board of directors.
KW PROPERTY MANAGEMENT & CONSULTING Hires District Manager to Its Growing Team
KW PROPERTY MANAGEMENT & CONSULTING announced that Jeffrey Cohen has joined its growing New York City regional office as district manager.
Economy Watch: E-Commerce Retail Continues to Expand
The Census Bureau reported that U.S. e-commerce retail sales for the first quarter of 2014, adjusted for seasonal variation, but not for price changes, was $71.2 billion, an increase of 2.8 percent compared with the fourth quarter of 2013.