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Monday's Real Estate Headlines August 8, 2011

Monday's Headlines

August 8, 2011

NY Times

S&P Downgrades Fannie and Freddie, US-Backed Debt
Standard & Poor's Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other entities linked to long-term U.S. debt.

Freddie Mac Reports 2Q Loss, Asks for $1.5B in Aid
Government-controlled Freddie Mac requested $1.5 billion in additional federal aid Monday after posting a loss this spring. The mortgage giant also said Standard & Poor's decision to lower its debt rating will cause "major disruptions" in the home-lending market.

Daily News

Home cook: Three New York City chefs take their flames outside
We caught up with three New York chefs who share our love of the great outdoors. Their drastically different spaces – a patio on the upper East Side, a swank New Jersey waterfront townhouse and a Southampton retreat – all have one thing in common: plenty of charcoal.

Have a home? Want a pet dinosaur?
A couple is willing to provide "pet dinosaur" services for a year - at your beck and call - in exchange for a nice place to live.

NY Post

IVANKA TRUMP'S HUSBAND JARED KUSHNER'S PUCK BUILDING ...
.. Kushner, who oversees the family real estate company, Kushner Cos., and
is publisher of the New York Observer, could not be reached for ...

AMERICA'S ROAD TO DISCREDIT--NICOLE GELINAS - NYPOST.COM
.. Ever since the 2008 collapse of the real-estate and financial bubbles, the
government's been using its credit card to stop bad companies (arguably ...

MOGUL PETER KALIKOW IRKS NEIGHBORS WITH PLAN TO EXTEND HIS
... Irate Montauk residents are trying to sink a dock extension secured by
real-estate mogul Peter Kalikow -- charging that he's ruining the ecosystem ...

Crain's

The RED Wrap: See the bright side, if you dare
An old rule of investing suggests that the best time to buy is when everyone else is selling—or even better, when there's blood running in the gutters.

Talks on bus terminal tower still alive
A day after another deadline comes and goes, Port Authority is seeking a three-month extension on negotiations with Vornado; long-runnng plans envision 1.3M square feet spire and terminal upgrade.

Feds' space at One World Trade cut in half
Big U.S. agency to take just 300,000 square feet, as Port Authority of New York & New Jersey bets it can land higher-paying tenants; huge New York state lease out.

BofA weighs responses to counter Fannie Mae
Bank of America Corp. did not immediately respond to Fannie Mae's demands that the bank repurchase faulty mortgages.

Observer

Hines Corners Bryant Park
While it might not be as, uh, edgy as the Torre Verre, Hines unveiled another new Manhattan project today, one with a location even more enticing than next to MoMA.

French Culinary Institute Founder Dorothy Cann Hamilton’s $4.25 M. Maison
Et voila! Lucky residents of 160 West 66th Street will soon have their noses tickled by the sweet aromas of a master chef at work. The newest tenant of the Lincoln Center building is Dorothy Cann Hamilton, founder of the French Culinary Institute.

Master of Their Domains, After a Fashion
You were probably told to share, say “please,” and play nice in preschool.

Interminable Debate Over Vornado’s Terminal Tower
Sunday came and went, and still there is no deal for Vornado's Port Authority Bus Terminal tower.

Great Wall Falls: Dursts Finally Leave Manhattan
Douglas Durst and his cousin Jody may be the most powerful pair in New York real estate. They've taken up Seymour Durst's Midtown empire and stretched it across Manhattan, so why not try the trick on another island far, far away?

Wall Street Journal

From a Cookie Factory to a Shopping Center
Riverdale's Stella D'oro cookie factory, which infused its Bronx neighborhood with the scent of vanilla for decades, is set to be sold to developers who will raze the site and build a shopping center.

Developer Ventures Outside City—to Taiwan
The late Seymour Durst, one of New York's storied real-estate developers, famously pledged never to buy a building he couldn't walk to. But for the first time in more than 95 years, the Durst Organization is investing in a real-estate project outside of New York City—in Taiwan no less.

Collateral Damage Could Include Higher Mortgage Rates
Mortgage markets in the U.S., which remain on government life support, could be rattled by the downgrade of the U.S. credit rating, potentially raising borrowing costs for consumers.

S&P Cuts U.S. Government Entities
WASHINGTON—Standard & Poor's on Monday downgraded the credit ratings of Fannie Mae, Freddie Mac and several other U.S. government entities, reflecting their dependence on federal support.

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