News about properties and real estate
Condo builders: Deposits back soon [South Florida] Still debating which New Year’s resolution to keep through next week? Developers of two unbuilt West Palm Beach condo projects have their resolutions already lined up: We promise to give buyers back their deposits … soon. During the past month, buyers in the Opera Place and Palladio Terrace …
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What’s Become Of The Condo Conversion? Two years ago one of the easiest ways to make big money in America was to convert apartments into condominiums. The housing slowdown has taken a toll, pruning profits and thinning out herds of condo buyers so much that many converted properties are reverting to apartments. But conversions still …
Commercial deals heat up The most recent deal: Glendale, Calif.-based real estate investment trust PS Business Parks (Amex: PSB, $69.43) edged 15 other bidders to acquire Boca Commerce Park and a portfolio of light industrial properties in Wellington. “We had institutional interest, private interest, condo converters both locally and from all over the country,” says …
A Landlord Seeks a Solid Foundation Chicagoan Yan Searcy exudes entrepreneurial zeal. Yan, who is 37 and single, has invested in a carwash and aspires to own an ice-cream franchise on the city’s South Side, where he resides. In 1998, Yan bought a three-flat apartment building, which he still owns. After buying and selling other …
The Year the Bubble Didn’t Burst in Manhattan Pity the poor Manhattan housing market in 2006; it missed out on so many adjectives. As markets around it melted—Miami, Phoenix, Boston, pretty much the whole of flyover country—Manhattan’s remained utterly, stubbornly successful. You’ll have heard another story: that Manhattan’s housing market was red-hot in 2005 and …
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After 20 Years, Rooms With a View [Southern California] Downtown’s Longtime Laughingstock High-Rise, 1100 Wilshire, Is Reborn As a Condo Complex Like an ugly duckling in its awkward teenage years, the triangular glass skyscraper at 1100 Wilshire has stuck out since it was built in 1986 as an office building. It’s been called names, and …