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Monday's Real Estate Headlines Aug 1, 2011

Monday's Headlines

Aug 1, 2011

NY Times

Construction Spending Rises 0.2 Percent
Builders began work on more office buildings, shopping centers and hotels in June, pushing construction spending higher for a third straight month. But even with the gains, activity remains at depressed levels.

Monday Reading: Homeowners' Delusions About Flood Risk
...Holdouts who still keep paper calendars. (Styles)The inevitability of title insurance for people getting mortgages. (Real Estate)First test drive of a Prius with more cargo room. (Automobiles)Debt deal focuses on spending cuts while economy...

THE APPRAISAL; Incentives Are Used to Lure N.Y. Apartment Buyers
...thought, ‘What a nice thank you gift that would be.’ ” When Mr. Parker asked his real estate agent, Scott Klein of Prudential Douglas Elliman , if he thought it would be a selling point, Mr. Klein said...

This Week in Small Business: Lessons in Negotiating
...Mortgage applications are at their lowest since February. A real estate investor explains that we are 40,000 properties owners are capitalizing on the weak commercial real estate market. Chikodi Chima says that education is the next...

The Airport Experience Now Includes Shopping for the Whole Family
...occasional shop selling coffee mugs and local smoked meat. The real diversity in airport shopping was in the food concessions...2 percent a year ago, according to CoStar Group, a real estate research firm. Over all, the retail vacancy rate is...

New, Quiet Effort for Big Islamic Center Near Ground Zero
...Everything was backward,” Mr. El-Gamal, 37, acknowledged in an interview on Wednesday in his Chelsea real estate office.

China’s High-Quality Pearls Enter the Mass Market
...Pearl, one of the largest companies in Zhuji, a town in Zhejiang Province. Grace grows pearls in Zhejiang and, as real estate and labor costs have risen, also in inland Jiangxi, Hunan, Anhui and Hubei Provinces. Mr. Zhan picked up a visitor...

BMW Guggenheim Lab to Open as Pop-Up in East Village
...discussions about urban living. For the last few years pop-up shops have come and gone all over New York, giving real estate developers a temporary solution to the eyesore of an empty lot or storefront,

Connecticut's Future Hinges on U.S. Debt Bill: Official
...take more than a decade for the state to win back the over 100,000 jobs lost due the recession. The still-weak real estate market also could hobble the recovery. In Connecticut, for example, home prices slid 9.9 percent in the first quarter...

Housing Deal for Brooklyn Bridge Park Ensures Park’s Completion
After months of uncertainty over the fate of the popular Brooklyn Bridge Park, city and state officials plan to sign an agreement on Tuesday that would allow limited private housing to be built there, to help pay an expected annual operating cost of $16 million.

Daily News

Grand Central's Vanderbilt Hall to be transformed into a bowling alley
If you close your eyes and imagine a bowling alley, odds are you’ll envision dingy lanes, fluorescent lighting and the smell of smoke and stale popcorn.


Concrete workers walk off World Trade Center job
Hundreds leave Tower 1 and transit-hub sites to protest lack of a new union contract. A full-blown strike could stall work at 34 construction sites around the city

New York pension fund bets on real estate rebound
The New York state Common Retirement Fund partnered with a Houston real estate firm to invest more in office and medical buildings to take advantage of an expected recovery in commercial property prices

The RED Wrap: Building the tallest housing tower
The sky is the limit for development in New York City

Hot market for office condos cools slightly
Average price paid slips 6% in first half, but still, nearly $90 million in sales were reported for the period. How office condo market's “Chinatown Syndrome” plays a role in the stats

NY Post

Debt ceiling fixes
Just because the government is in a debt mess doesn't mean we average citizens should be. Take a look at this month's personal-finance magazines for advice on managing your own debt ceiling


Concrete Union Strikes at WTC—Now What?
So much for things humming along at the World Trade Center. A handful of concrete unions have walked off the job, and while it has not immediately jeopardized work on the site, should the strike drag on, progress on the office towers could come to a halt weeks away from the 10th anniversary of 9/11.

Hank Azaria Renting Soho Loft in Publicity Stunt
Hank Azaria may be the best thing—really the only good thing—about the sacrilege that is Smurfs 3-D. And The Observer had no idea he was even in the movie until he decided to sell his Soho loft. Perhaps that was the whole point.

The West Village One-Bedroom Alternative
"Everybody seemed to be targeting the East Village and West Village, but they're finding prices are better here," said the Douglas Elliman broker for 226 East 12th Street, apartment 4H, a prewar co-op on a tree-lined street. The one-bedroom apartment is going for $495,000 and was one of the hits of the day—it has a spacious living room and a kitchen big enough to move around in, which is more than we could say for some of the cheaper units we stopped by.

Lower East Side Gallery District Grows Some More
Our colleague Andrew Russeth reports that the burgeoning Lower East Side gallery district continues to ... burgeon. There may be as many as 60 galleries, in fact, in the neighborhood now. Here is the latest:

Ground Zero ‘Mosque’ Launches 9/10 Fund Drive, Tweaks Name
With the 10th anniversary of 9/11 on the horizon, things are chugging along at the World Trade Center site in preparation. On Friday, the mayor announced both President Barack Obama and former President George W. Bush will be joining him at the ceremony. Two blocks away, two very short blocks, Sharif El-Gamal is rushing to meet his own September deadline.

Wall Street Journal

Along 57th, New Signs of Edifice Complex
The battle to build New York City's tallest, and possibly priciest, residential building is heating up along Manhattan's 57th Street corridor.

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