Glut keeps rental rates down Think the auto industry is tough? Try the office market. Back in the mid-’80s, developer Peter Burton built the Arboretum office park in Farmington Hills and advertised space at the going rate of $18 per square foot. Today, in an office market awash with high vacancies and low demand, the …
Author Archives: Administrator
On the waterfront?
On the waterfront? Home buyers pay plenty to have view of fake lakes. Mughis Chaudhry wanted a house on the water and an easy commute to his office — just like many people in the Orlando metropolitan area. But unlike most home seekers, Chaudhry, 36, was willing to pay nearly $600,000 for a lakefront lot, …
New York firm pays $20 million for Vero apartment complex [South Florida]
New York firm pays $20 million for Vero apartment complex [South Florida] A New York real estate firm has purchased the Walker Woods apartment complex in Vero Beach for $19.72 million. Benchmark Properties Management Corp., managed by Clarke Narins, acquired the 29.18-acre property at 2898 71st Circle from Altamonte Springs-based Walker Woods Inc., public records …
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Condo conundrum: Insurance costly, elusive
Condo conundrum: Insurance costly, elusive With two consecutive hyperactive hurricane seasons, local condo associations often find that their single biggest expense is hurricane insurance, not the cost of operating and maintaining their facilities. And even though Bradenton has been spared a direct hit the last two seasons, finding an insurance carrier willing to write a …
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Where water sells [Central Florida]
Where water sells [Central Florida] For Karen Woods, it’s all about location. She remembered a real-estate expert telling her: “If you’re going to invest in property, buy on water. God only made so much of it.” That’s why the 40-year-old Clermont woman and her husband, Jim, recently paid $450,000 for a condominium along the Indian …
A Place for an Energetic Little Boy
A Place for an Energetic Little Boy After Hudson Lee was born — yes, he was named for the Hudson River — his parents knew they couldn’t remain in their small, noisy, roach-ridden Inwood rental for much longer. All they needed was a great deal: someplace clean, quiet, big enough for an energetic little boy, …