News about properties and real estate
Unpaid fees put Florida condo owners in foreclosure Sitting in her small condo in one of Tampa Bay’s biggest retirement communities as her hands tremble, a 75-year-old woman reads a letter threatening to put her out of her home. Like so many other Floridians, Ann Studen is facing foreclosure. But in her case, it has …
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Off The Wall [Manhattan New York] How weak is the Manhattan rental market these days? Well, if things keep going the way they have been, you might want to slip your next rent check inside a sympathy card before giving it to your landlord. According to numbers from the Real Estate Group New York, rents …
Florida’s bargain homes beckon Ever dreamed of owning a vacation home in Florida? Maybe a nice one- or two-bedroom winter getaway near the beach and a swimming pool in the courtyard? U.S. developers are hoping that snowbirds from cities such as Toronto will take advantage of bargain-basement prices to make that dream a reality. With …
Royal Palm hotel heads for bankruptcy Six years after opening the Royal Palm, developer R. Donahue Peebles has put the entity that owns the South Beach hotel into bankruptcy protection amid a dispute with a lender trying to foreclose on the property. The bankruptcy filing of Royal Palm Senior Investors marks the latest twist in …
Pa. investor buys 26 condos in West Palm for $5 million In a sign that bargain hunters are taking advantage of West Palm Beach’s condo glut, the head of a large Pennsylvania-based roofing company has snapped up 26 units at The Edge. Ed Dunlap, chairman of CentiMark of Canonsburg, Pa., paid $5 million for condos …
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Default-y tower The New York owner of Boston’s landmark Hancock Tower defaulted on a key loan payment this week, in what’s become one of the most spectacular commercial real-estate flops in the city’s history. Broadway Partners LLC, the once high-flying investment firm that purchased the Hancock for $1.3 billion in 2006, was involved in intense …