A recent analysis of mortgage delinquency rate shows that Brooklyn, Bronx and Queens is on the rise. This means those New Yorkers are just one half step away from foreclosure so we are going to see a rise in foreclosure activity in coming months. The trio was lead by Brooklyn, where TransUnion – a Chicago-based [...]
It happened as expected: the Holiday Inn Resort & Conference Center on Grand Island went to Royal Bank of Canada, as it was the sole bidder on the Friday auction. In a closely watched but brief, foreclosure auction that the lender initiated against the owner of the 263-room hotel, American Hospitality Group LLC, representatives of [...]
Gary Barnett outbid several investors and won the 14-story office building at a foreclosure auction. The real estate is located at 20 West 47th Street and Barnett put $73 million on the table to own it. The president of Extell Development, Gary Barnett beat out multiple investors such as Parkway Realty and Bluestone Group, for [...]
New foreclosure rules ordered by New York state’s chief judge Jonathan Lippman have created a three month long foreclosure holiday for many troubled homeowners across the city. The decline of foreclosures is shown by the numbers. In October the chief judge ordered foreclosure lawyers to sign sworn statements certifying that to best of their knowledge [...]
The great battle of Columbus Circle ended last week with the judgment favoring Joseph Moinian, a real estate developer with a number of troubled properties. He can keep the 26-story, 1920s office building he is renovating at the circle’s southeast edge. The battle was between Stephen M. Ross, the builder of the massive two-tower Time [...]
The National Black Theater in Harlem started its living in the area as a dream. Fact is, that in the world of poorly financed arts, dreams might become true on stage, but real life really hurts. The building and the theater faced lots of trouble but now foreclosure knocks on the door. With several lawsuits [...]
The Shops at Atlas Park went into foreclosure two years ago, in February 2009. Now, the Park enriches a Chicago-based development corporation’s real estate portfolio, which bought the property for $53.75 million at a bankruptcy auction on Friday. If all goes according to the schedule set by the bankruptcy court, the new owners of the [...]
Grand Island’s Holiday Inn Resort & Conference Center has a new date for its foreclosure sale. The original Jan. 11 auction was postponed at the last minute for undisclosed reason, so the new date was made public recently: 2 p.m., Friday, February 18 in Erie County Hall. This postponement is part of the legal battle [...]
With the housing crisis on buyers are rare phenomenon. This is one of the most important issues of condo builders, and the Park Avenue developers aren’t an exception. However, Trevor Davis managed to make his building to be one standalone property. First he designed a glassy building. And now he is selling the almost $10 [...]
