Who Will Control Stuyvesant Town?
February 1, 2010 by Neil · 1 Comment
Tishman Speyer has ruled out the nuclear option of bankruptcy to forestall the struggle for control of Stuyvesant Town / Peter Cooper Village. Now a real estate food fight will ensue over control of the 110-building complex, each one containing about 100 units. (WSJ incorrectly states that it is a 56-building complex.)
WSJ states that the [...]
Who May Be Providing 60% of All Financing for New York City Commercial Real Estate?
January 20, 2010 by Neil · Leave a Comment
Foreign banks now provide more than 60 per cent of all debt financing for commercial real estate. The predominant player among these lenders: Bank of China. Fannie Mae and Freddie Mac, along with life insurers, provide the overwhelming majority of the other 40 percent.
Bank of China and other foreign lenders are taking advantage of underwriting [...]
Will Uncle Sam’s Guarantee Revitalize New York City’s Apartment Building Market?
January 16, 2010 by Neil · Leave a Comment
Freddie Mac, the mortgage-finance company with U.S. government support, plans to sell about $1.1 billion of securities backed by loans on multifamily properties.
Why might conservative investors purchase these securities on the secondary market? According to Freddie Mac, investors will be shielded against default on the underlying mortgages by both a Freddie Mac guarantee and credit [...]
