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Thursday's Real Estate Headlines August 4, 2011

Thursday's Headlines

August 4, 2011

NY Times

City Room: Facing the Loss of a Home, and a Quirky Experiment
These days, there is no shortage of compelling tales of New Yorkers facing foreclosure and battling bureaucracy in a struggle to pay their bills.

New York in Design and African in Décor
In a 15th-century, second-floor walk-up apartment here, Adam Gaon and Loredana Tarini have created a home where New York meets Africa

House Hunting in ... Switzerland
This penthouse is in a decade-old 14-unit complex in Chernex, a village set on a steep slope above the lakeside town of Montreux.

In Gowanus, Big Development Can Wait
WHEN a baby whale lost its way and wandered into the mouth of the Gowanus Canal in 2007, it was christened Sludgie the Whale.

A Neighborhood for Man and Dog
NEARLY three years ago, when Richard Rethemeyer moved to New York from San Francisco, he paid $1.16 million for 1,400 lovely square feet in the ClockTower, at 1 Main Street in Dumbo, Brooklyn. The plan was for his girlfriend to join him there

Daily News

Take a tour of a tiny 78-square-foot "midtown mansion"
Remember that 90-foot “microstudio” on the upper West Side we told you about in April? An architect who lives in Hell’s Kitchen has it beat

Let's get creepy: MNS debuts site for best apartment hook ups
Real estate has always been a little bit sexy, but this is the first real estate site we’ve seen actually devoted to talking about sex.

Crain's

Concrete lab charged with faking NYC test results
American Standard Testing and Consulting Laboratories, company President Alan Fortich and five staffers are being charged with faking results for a LaGuardia Airport control tower, the new Yankee Stadium, and other projects around New York City

Concrete workers return, but carpenters OK strike
Walkouts at the World Trade Center and other construction sites end as concrete workers extend a deadline for a new contract. Meanwhile, the carpenters union authorizes a mid-August strike

CIM closing in on defaulted $29M property loan
Vacant lot on Madison and East 33rd was once slated for a 33-story tower with a 100-room hotel and 69 condo apartments; buyer has been on acquisition tear in Manhattan lately.

Search on for B'klyn Bridge Park developer
City issues a request for proposals for new hotel/residential building at Pier One; revenues from the development to help fund park's $16 million annual maintenance and operations tab

NY Post

FBI ARRESTS 10 SUSPECTS IN $60M MORTGAGE FRAUD RING ...
... The 13 alleged members of the fraud ring include real estate attorneys,
title closers, appraisers and straw buyers. They ..

SUBMARINE-INSPIRED APARTMENT MAKES WAVES ON OPEN MARKET ...
Submarine-inspired apartment makes waves on open market.

The RED Wrap: Vornado faces end game…again
One of the real estate industry's great recurring questions is yet again nearing a major decision point: Will a tower rise above the Port Authority bus terminal? Site owner, the Port Authority of New York and New Jersey, has until Sunday to come to...

Observer

Live Above the Office in Tribeca
Have a small workforce? Now you can save money on paying office rent by working in the same place you live. And you can bring along your staff; according to this listing, the office area is fully furnished with up to seven work stations. Your employees can even enjoy a catnap on the roof deck of this five-story Tribeca townhouse during those long days at the office.

Jason Reitman Directs Chelsea Co-op for $2.15 M.
Director Jason Reitman ordered a new mise-en-scene this week, buying an apartment in Chelsea with his wife Michele. The couple paid $2.15 million for the co-op at 434 West 20th Street. They purchased the home from a Thomas Schieble who lists Bloomsburg, Pennsylvania as his current residence

Related Rescues Tenements
The Related Companies is synonymous with flashy, glassy luxury apartment towers, from the sentinels of Columbus Circle to the Best Building downtown.

Vornado’s Port Authority Tower Low on Gas
It has now taken Steve Roth a dozen years and almost as many extensions to keep his plans for a tower atop the Port Authority Bus Terminal alive.

On the Market: Faye Dunaway Strikes Back; Flatiron Hotel Faces Foreclosure; Can We Get a Nordstrom or Not?

Law Journal

Tomlins v. Village of Wappinger Falls Zoning Board of Appeals

Wall Street Journal

City Repair Charges Turn Into Liens
New York landlords who haven't repaid the city for repairing dangerous conditions in their buildings have just run out of time: Wednesday was the last day to pay off emergency repair liens before they are sold to investors.

Related Sets Affordable-Housing Accord
Related Cos. will preserve three affordable complexes in prime locations for lower-income tenants for another 35 years, marking a success in the city's campaign to keep affordable units from

Tower Deal Is Teetering
As a deadline nears, the Port Authority of New York and New Jersey and developer Vornado Realty Trust remain far apart over the terms of a deal to build an office tower atop the Port Authority bus terminal.

CapitaLand Profit Rises 17%
SINGAPORE—CapitaLand Ltd. said Thursday its second-quarter net profit rose 17% from a year earlier, mainly due to higher development profits in Singapore, fair value gains, and the sale of a residential site in China.

Foundations Turn Shaky for Portuguese Property
Portugal's real-estate sector avoided a property bubble that sparked economic pain in Spain and Ireland, but it still may be headed for trouble.

High-End London Property Defies Gloom
London's prime real estate appears to have emerged strongly from the gloom that still envelops other property markets

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