Northeast
Maureen Friar Replaces Conrad Egan as President, CEO of NHC
Maureen Friar has been named president and CEO of the nonprofit National Housing Conference (NHC). Friar has established a distinguished and successful career in the housing field.
Forest City, Bernstein Management Strike JV for D.C. Apts.
Forest City Enterprises Inc. has formed a joint venture with Bernstein Management Corp.
Despite Challenges Posed by Economy, NYC Will Carry Out Plan to Build and Preserve 165,000 Affordable Housing Units by 2014
Mayor of New York, Michael Bloomberg, today reiterated his commitment to make the New Housing Marketplace Plan successful even in a weakened economy. The plan is to build and preserve165,000 units of housing–enough for half a million New Yorkers – by the year 2014.
DEAL OF THE DAY: CBRE Brokers Class AA Apts. Sale Transaction Between PREI and CBRE Investors
CB Richard Ellis arranged the sale of Mass Court, a 371-unit Class AA luxury rental apartment property at 300 Massachusetts Avenue, NW, in Washington, D.C.’s East End.
NY Rent-Freeze Bill Draws Fire
It didn’t take long for the bill (S. 6811) introduced last week by New York State Senate Majority Leader Pedro Espada Jr. to attract detractors, most visibly a young woman holding a sign next to Sen. Espada at his press conference announcing the bill.
Real Estate Transaction Flow to Increase, Advisory Group Predicts
The velocity of real estate transactions should improve this year, with property pricing to stabilize as liquidity returns to the marketplace, with REITs playing a leading role in the revival, according to FTI Schonbraun McCann Group, the real estate advisory practice of FTI Consulting, Inc.
Survey Finds Builders Still Doubtful about Economy’s Strength
A survey of builders and developers located in the Tri-State and Mid-Atlantic regions, as well as Pennsylvania and Florida, found that a majority is still not seeing an improvement in economic conditions.
DEAL OF THE DAY: NorthMarq Capital Arranges $3.610M Mortgage with No Prepayment Penalty Via Federal Credit Union
Cortland, N.Y.–Scott DeVinney, vice president of NorthMarq Capital’s Upstate New York regional office arranged a $3.610 million in first mortgage financing for Village Terrace Apartments, a 96-unit multifamily property located in Cortland, N.Y.
Exhale Opens First Residential Mind Body Spa in Landmarked Condo Project Manhattan House
Exhale, a mind body spa has opened its first residential location in New York at Manhattan House, the landmarked condominium on the Upper East Side.
Flipping Foreclosed Homes Big Trend for 2010
Pete Berman is the CEO of The Ruby Group. He talks to MHN about trends developers and owners should watch out for in 2010.