News about properties and real estate
Apthorp Rentals Raise Questions [New York City] Some recent condominium buyers at Manhattan’s famed Apthorp building are looking to rent their newly purchased apartments, a move that may conflict with their signed declarations to use the apartments as their own residencies. The effort by some owners to rent out their condos could spark additional scrutiny …
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Dolphin Tower’s troubles stack up [South Florida] Amid the discovery of still more concrete problems at Dolphin Tower, it appears that more money and more time will be needed to repair the damaged 15-story condo building. Just as vexing to displaced residents, though, are signals that Great American Insurance Co., of Ohio, intends to deny …
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Unit owners’ deaths raise many questions Q:A senior-citizen couple purchased a unit in our 24-unit condominium in 2004 using a $213,000 mortgage and a very small down payment. In 2005, the husband died. In the period 2006 to 2008, the widow secured a total of $50,000 in home-equity loans (mortgages) on the unit. She died …
Pinnacle’s real estate fallout When Pinnacle Financial Partners got started 10 years ago, the bank’s executives, who had survived many a past real estate collapse, pledged to focus lending on business and industry — not real estate development. Now, the bank is beset by loan problems linked to real estate and homebuilding plans gone awry …
Developer’s Money Woes Evident in Bartow Foreclosure Sale [Central Florida] An anchor building in downtown Bartow is going on the auction block Tuesday in a foreclosure sale, reflecting the financial nightmare plaguing Lakeland developer Jose Reynoso. He paid $380,000 for the Berkowitz building at 415 E. Main St. in 2006, and spent thousands of dollars …
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Property tax appeals: South Florida property tax appeals on a blistering pace The annual tax notices going out this month will bring a double whammy of bad news for many Florida property owners — lower values and higher taxes. But a small minority will get a break by challenging the county’s value of their homes, …
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