Four men were found guilty of participating in a $100 million mortgage fraud scheme tied to a company called AFG Financial Group, a statement by the office of the Manhattan district attorney said. Aaron Hand, Kenneth Law, Eric Shields and Jerry Strklja were found guilty of multiple felonies such as enterprise corruption, scheme to defraud, conspira...Read More
1. Congressman Rangel inaccurately signed lease on rent-stabilized apartment: ethics committee [NYT] 2. Architect Charles Renfro discusses the renovation of Lincoln CenterRead More
New renderings of the Loews Pitkin Theater, at 1501 Pitkin Avenue in Brownsville, were published yesterday by ArchPaper. The Pitkin Theater -- once home to the likes of Jackie Gleason, Milton Berle and Humphrey Bogart -- was closed since 1969, until ground was broken last week on a new charter school and retail complex. Developer POKO Partners is w...Read More
Brookfield Properties, the New York-based landlord and subsidiary of Toronto's Brookfield Asset Management, plans to depart from the housing market entirely to focus exclusively on office properties, Bloomberg News reported. The company, which just invested billions in bankrupt shopping mall owner General Growth Properties and also has $1.2 billion...Read More
Even a guerilla campaign using posters and spray paint in Park Slope last November was not enough to convince buyers to purchase a condo in an eight-unit building developed by Monogram Properties at 211 23rd Street, Brownstoner reported. Sales were first launched back in 2007, when prices ranged from the mid $400,000s to $889,000. When they relaunc...Read More
Mortgage interest rates have reached record lows for the sixth week in a row, for the week ending July 29, according to data from government-sponsored mortgage giant Freddie Mac. The 30-year fixed-rate mortgage averaged a 4.54 contract interest rate, down from 4.56 percent last week and 5.25 percent during the same week last year. It was the lowest...Read More
The government has given buyers using the credit another three months to close sales, and the initiative is being imitated on a smaller scale by states and private companies. But some think the market would be better off if we laid it to rest for good...Read More
