Archive for April 2nd, 2009
Continue Reading April 2nd, 2009
More evidence all the layoffs on Wall Street are begining to hit the Manhattan condo market. According to a new report out today from broker the Corcoran Group and the PropertyShark.com Web site the median price of an Manhattan apartment fell 11 percent in the first quarter to $749,000 from the same period last year. Sales dropped 52 percent. Inventory rose 29 percent.
Matthew Haines of PropertyShark says: “the market has changed and we are now in a state of price correction.”
Other data out from PropertyShark and Sotheby’s illustrates the premium folks are willing to pay for a view of Central Park. According to the report, the average condo on the park sells for $4.1 million, more than four times the average condo price in the same zip code.
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Continue Reading April 2nd, 2009
CB Richard Ellis Group Inc. has been selected by Panattoni Development Co. to provide management services for approximately 17 million square feet of office and industrial properties in the Western U. S., with 14 million of the space located in Sacramento and Orange County, Calif.
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Continue Reading April 2nd, 2009
Call it the Great Housing Paralysis of 2009. If you’re hoping to buy your first home or invest in a second one, you’re probably sidelined, unsure when to jump in. If you want to sell, you’re thinking it may be better to wait. And even if you don’t plan to either buy or sell anytime soon, watching one of your biggest assets tank is about as much fun as being chased by hornets. When will the pain stop?
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Continue Reading April 2nd, 2009
GWS Technologies Inc. has entered into a strategic partnership and joint venture with Sustainable Eco-Green Development Co. Inc. to develop a Green Industrial Park on approximately 1,000 acres adjacent to the Phoenix-Mesa Gateway Airport in Mesa, Ariz.
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Continue Reading April 2nd, 2009
The national housing slump is finally crashing at the shores of Manhattan island, which had its worst quarter in years, according to several industry reports released on Thursday.
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