Hold the sugar.
That’s the message developers of the old Domino Sugar plant in Brooklyn appear to be sending with their renderings of the $1.2 billion waterfront condo complex.
The plan to convert the former Williamsburg refinery leaves out the iconic illuminated sign that reads, “Domino Sugar,” which generations have grown accustomed to seeing off [...]
In a year when home prices fell in many areas of New York City and the nation, the average Brooklyn home price rose nearly 8 percent in 2006, according to a report released by a New York-based real estate appraisal firm, HMS Associates.
HMS, a full-service firm, has been appraising residential and commercial property since 1998 [...]
A once deserted West Side corridor is about to begin its transition into one of New York City’s most exciting residential neighborhoods with the opening of Archstone Clinton, a spectacular high-rise luxury apartment community that stretches from 51st Street to 53rd Street along the westerly blockfronts of Tenth Avenue. With leasing now officially underway and [...]
W. R. Berkley Corporation announced that it intends to issue $250 million of senior notes due 2037. The net proceeds of the offering will be used for general corporate purposes, including the repayment of indebtedness.
Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are joint book runners and joint lead managers of the offering. [...]
Anthracite Capital, Inc. announced that it has priced an underwritten public offering of 3,000,000 shares of 8.25% Series D Cumulative Redeemable Preferred Stock.
The securities have a $25 liquidation preference per share and will pay a dividend of 8.25% per annum. Bear, Stearns & Co. Inc. was the sole bookrunner of the offering with Stifel Nicolaus, [...]
GMH Communities Trust, through its military housing division, announced today that it has finalized its agreements with the Department of the Air Force to be the private sector developer for the Air Education and Training Command (AETC) Group 1 Military Housing Privatization project. The 50-year term of the project commences with a five-year Initial Development [...]
NorthStar Realty Finance Corp. announced that it has priced an underwritten public offering of 5,400,000 shares of 8.25% Series B Cumulative Redeemable Preferred Stock at a price of $25.00 per share.
Bear, Stearns & Co. Inc. and Wachovia Securities are the joint book- running managers for the offering and RBC Capital Markets and Stifel Nicolaus are [...]
When is a luxury condo not a luxury condo?
When the city assesses it for property taxes. Then it becomes a rental.
Under the city’s notoriously convoluted property-tax code, condos and co-ops are assessed for property-tax purposes as if they were rental buildings. This rule, based on the concept of guessing how much income apartment buildings could [...]
Hersha Hospitality Trust , a real estate investment trust (REIT), which owns interests in 68 high quality, mostly upscale hotels in high barrier to entry markets, today announced that the Company has entered into separate agreements to purchase interests in two hotels in New York City. Additionally, the Company has completed the acquisition of a [...]
Beth Ann Bovino was baffled when she suddenly faced a lineup of would-be renters at her Manhattan apartment door. There was just one problem: Her place wasn’t for rent.
At first, she had no idea that a scammer was trying to collect deposits by advertising her apartment on Craigslist.
[...]
DiamondRock Hospitality Company announced that it plans to sell 14,500,000 shares of its common stock in an underwritten public offering. The company also plans to grant the underwriters an option to purchase up to an additional 2,175,000 shares of common stock to cover over-allotments, if any. All of the shares will be offered by the [...]
Alex Joseph, a West Indian-born parks worker, rakes the lawn at the grandly gothic Green-Wood Cemetery in Brooklyn when he and his fellow laborers hear what sounds like a flock of sea gulls dive-bombing at their heads. The workers duck and whip around, looking up to see … green parrots, expertly mimicking the gulls’ caw.
“Man, [...]
