A series of market reports on the fourth quarter of 2008 showed an abrupt decline in transactions, tottering prices and buyers who are still looking but unwilling to sign a contract.
The credit crisis and recession crushed deal making in office buildings in 2008.
The developers say the building would open in 2013 and would serve as an anchor for Hudson Yards, one of the last parcels of underused land in Manhattan.
As fear and uncertainty stalk those glittering new-condominium showrooms, developers have found a new way to try to calm the nerves of would-be buyers: a price protection guarantee.
Mall developers in New Jersey are adopting strategies to survive what is expected to be a difficult holiday season.
New York’s long-running building surge will peak this year, according to a new report.
After seven years of nonstop construction and skyrocketing rents and sale prices, the credit crisis is bringing an end to the city’s real estate boom.
Like many other developers in recent months, the company that was going to develop the White Plains downtown has run up against the realities of a sour real estate market.
The office building at 1372 Broadway is changing hands at a loss of $41 million compared to its sales price a year ago.
Despite their interest to get a great deal, foreigners have been slow to purchase in all but the most recession-proof properties in the most expensive areas, like East Hampton and Beverly Hills.
