John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
NEW YORK CITY-The bribes were allegedly made to alter values on more than 500 properties over the past three decades. Seventeen assessors were named in the suit, which reportedly lost the city upward of $40 million in tax revenues--and could reach $170 million.
NEW YORK CITY-Despite some insiders' belief that "owners will come away clean," sources predict that industry heads will roll when the valuation scandal spreads beyond the confines of the Manhattan assessor's office. Valuation discrepancies of up to 50% have been reported.
NEW YORK CITY-China's entry into the WTO promises major changes in corporate activity in Asia, say Cushman & Wakefield executives. The firm's joint venture with Premas International is geared to take advantage of those changes.
NEW YORK CITY-It's not enough to rebuild Downtown, Deputy Mayor Daniel Doctoroff said yesterday as Cushman & Wakefield made its 2002 economic forecast. It's an opportunity to build a true 24/7 environment. But market equilibrium is at least three years away.
NEW YORK CITY-It's not enough to rebuild Downtown, Deputy Mayor Daniel Doctoroff said yesterday as Cushman & Wakefield made its 2002 economic forecast. It's an opportunity to build a true 24/7 environment. But market equilibrium is at least three years away.
NEW YORK CITY-The developer is charging that GM Building partner Conseco took improper measures to keep him from refinancing the 50-story Fifth Ave. asset and effectively killing a buyout attempt.
NEW YORK CITY-The general economy will start to show signs of picking up in Q2 or Q3, our respondents tell us, with a half-year lag time for real estate. Sept. 11, as tragic as it was, seems to have a fading impact on the industry's activity.
NEW YORK CITY-The under-served affordable-housing market just got a serious boost from two major players. The initiative is geared to revitalizing down-trodden neighborhoods as well as increase ownership opportunities for low-income workers.