Commercial News for 11/28/14
WSJ.com: Commercial Real Estate
Mortgage Lending Falls
New figures released by the Federal Reserve Bank of New York show mortgage lending is running at its lowest level in 13 years, with 2014 on pace to be the weakest for new loans since 2000.
Rebirth for Harlem Renaissance Site
A plan to tear down the Renaissance Casino and Ballroom and turn it into a luxury apartment building could help complete the transformation of a pocket of northern Harlem that has lagged behind the rapid redevelopment of the surrounding area.
Deal to Buy Revel Casino at Risk
Built at a cost of $2.4 billion, Revel made its boardwalk debut in 2012, but failed to turn a profit, filing its second Chapter 11 case in June.
Simon Property Seeks to Boost Stake in Macerich
Simon Property Group may seek to boost its stake in mall rival Macerich Co., a move that analysts said could trigger a takeover attempt.
Creating a Niche Beyond a Real Estate Empire
Stephen L. Green is a household name in the real estate industry; less well-known is his son Gary Green, who runs a company that keeps a big chunk of his father?s buildings as well as other prime New York properties clean and secure.
Baldwin: Suburbia, Diversity Not Far From City
The Long Island hamlet of Baldwin is a popular destination for home buyers seeking a suburban lifestyle with city amenities and conveniences.
Caesars Proposes a REIT Plan
Caesars Entertainment has approached senior creditors about a plan to convert the casino company?s largest unit into a real-estate investment trust as it works to restructure $18.4 billion in debt.