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Blog Profile / Developments - WSJ.com


URL :http://blogs.wsj.com/developments/?mod=WSJBlog
Filed Under:Business & Finance / Real Estate
Posts on Regator:3099
Posts / Week:9.6
Archived Since:December 12, 2008

Blog Post Archive

College Costs: NYU Pays Up For Vacant Buildings

NYU last week paid $157 million for a pair of adjoining buildings at 404 Lafayette St. and 708 Broadway, topping $1,000 per square foot.

World Trade Center Tower Set to Rise After $1.6 B Bond Deal

Developer Larry Silverstein on Tuesday secured the money needed to construct his long-planned 1,170-foot 3 World Trade Center, selling nearly $1.6 billion of of tax-exempt bonds.

Forest City Eyes a Profit on Barclays Center

Developer Forest City has high ambitions as it seeks new investors in the Barclays Center. The company is expecting any new investor will pay a price that values the arena substantially above its cost, according to a Forest City official. Left...Show More Summary

Skadden Arps Plans Move to New Tower on Manhattan’s Far West Side

A soaring new skyscraper is poised to rise on Manhattan’s West Side, as legal giant Skadden Arps Slate, Meagher & Flom LLP has signed a letter of intent with Brookfield Property Partners to move to the planned 1 Manhattan West tower,...Show More Summary

One World Trade to Open Nov. 3, But Ceremony is TBD

Nine years after ground was broken on North America’s tallest building, One World Trade Center is set to open its doors Nov. 3 to publisher Condé Nast, its principal tenant.

Some Builders Like New Mortgage Rules, But Toll Calls Them “Dumb”

Some home builders are heralding federal regulators’ move this week to ease mortgage-qualification standards as a key to reviving the entry-level market but at least one is panning it as a return to dangerous lending.

Author of The Liar’s Ball Talks About Life With Macklowe

The commercial real estate sector rarely is the subject of mass-marketed books. The few exceptions over the years have included Tom Wolfe’s novel “A Man in Full” and Charles Bagli’s book on Stuyvesant Town debacle. Now a new book that...Show More Summary

PwC Forecasts Higher Interest Rates, Strong Industrial Market in 2015

PricewaterhouseCoopers LLP has come out with the 36th edition of its Emerging Trends in Real Estate report, which is based on surveys and interviews of hundreds of real estate professionals. Here are a few highlights of the report, which was co-published by the Urban Land Institute:

Jonathan Litt Explains His Activist Campaign Against Pennsylvania REIT

Jonathan Litt is the closest thing the REIT world has to an activist investor. Since co-founding Land and Buildings in 2008, the former Citigroup analyst has pushed for a number of management and strategic changes at real estate investment trusts, including apartment landlord BRE Properties Inc. Show More Summary

Hotel Investors Shouldn’t Fear Ebola Impact, Says Green Street

Green Street Advisors has a message for investors concerned that the Ebola outbreak could hamper the rebound of the hotel sector: take a breath. “There is a small probability the Ebola outbreak hits lodging fundamentals,” said a new report by the real estate stock research firm on the hotel sector. “The most likely scenario is that Ebola concerns fade without much impact.”

Anyone Want an Arena? Forest City Seeks Sale of Barclays Center Stake

Developer Forest City Ratner is marketing its majority interest in the Brooklyn arena that is home to the NBA’s Brooklyn Nets, seeking a buyer for some or all of its 55% stake in the building, according to people familiar with the matter.

Stuyvesant Town, a Symbol of the Downturn, is Rising in Value

Here’s some good news about Stuyvesant Town and Peter Cooper Village, the sprawling Manhattan housing complexes that became a symbol of the downturn when they ran into financial problems in 2010. The debt servicer on the properties has...Show More Summary

Why Homeowners Associations Want To Foreclose On Homes

Lenders and investors are in the midst of a legal battle in Nevada over whether foreclosures made by homeowners associations should have the effect of wiping out a first mortgage.

Snowed In: Developer Plows Ahead with Texas Indoor Ski Resort

Investors behind The Grand Alps Resort DFW Inc. plan to begin construction next year of an indoor, 1,900-foot-long ski slope, along with a 300-room Hard Rock International hotel, shops and a movie theater.

Space Shift: As Wealthiest Flock to Supertall Condos, Offices Go Horizontal

An inversion is going on in the real estate world: the wealthy are clamoring to buy glassy apartments that soar high in the skyline, while the fastest growing companies are demanding spacious low-slung buildings and eschewing tall towers.

Stamford’s Weak Office Market is a Victim of Manhattan’s Success

Today’s news that a venture led by Landis Group is seeking to restructure the debt on 400 Atlantic St. in Stamford, Ct. underscores the weakness of that city’s office market.

Eichner Lands $420 Million to Build NYC Condo For Super-Rich

New York developer Ian Bruce Eichner, who suffered high-profile failures in two real estate busts, late last week secured more than $400 million in financing to build a nearly 800-foot condo tower just south of Madison Square Park in Manhattan, according to multiple people familiar with the financing.

Fairholme Fund Slumps Following Setback in Fannie and Freddie Bet

A prominent mutual-fund manager and his investors just had a very bad day. Bruce Berkowitz’s Fairholme Fund on Wednesday sank 9.6%, the day after a court delivered a major setback in his bid to garner profits from mortgage-finance companies Fannie Mae and Freddie Mac.

Los Angeles to Architects: Bring On the Spires

Los Angeles officials earlier this week announced an initiative to relax the city’s requirement that tall towers have helicopter landing pads. The result: architects can now design high-rises crowned by spiky spires—or other shapes—giving them license for a bit more design flair.

In GM Building, Weil Gotshal Hops on the Downsizing Bandwagon

New York law firm Weil, Gotshal & Manges LLP has been a tenant at the iconic General Motors Building since it opened in 1968 at the southeast corner of Central Park. Now Weil, whose marquee bankruptcy practice also advised the automaker...Show More Summary

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