NEW YORK CITY-Several local REITs including Englewood, CO-based Archstone-Smith are among those circling the 99-unit residential offering, says a close source. With an asking price of $14 million, the Eric Margules-owned portfolio has received nearly 25 bids since hitting the market two weeks ago.

NEW YORK CITY-Supported by loans made by Bank of America and CIGNA Corp. on 15 commercial properties scattered throughout the US, BoA yesterday offered $533 million in CMBS. All but one of the properties has terrorism insurance coverage, a BoA spokesman tells GlobeSt.com.

NEW YORK CITY-The tenants and leasing agent of the US Postal Service-owned building, located just north of the World Trade Center site, have each submitted a logistical draft to their insurers to cover ongoing renovations on the 15-story structure. One tenant tells GlobeSt.com its total recovery cost is $93 million.

NEW YORK CITY-The third event in the 2002 RealShare series will take place at Manhattan's Roosevelt Hotel on Oct. 9. Numerous industry leaders will speak at the one-day event, which is being supported by CoreNet Global-New York Chapter, REBNY and YM/WREA.

NEW YORK CITY-The 18-unit, 88,000-sf building has been in Mark Shenker's family for years, but is now being sold for $5.8 million as TransWorld Corp. exercises its option to purchase based on an initial lease-signing in April.

NEW YORK CITY-Cushman & Wakefield market analysts are predicting that much of Downtown's class B/C office space may be converted to residential, as property owners look to stay afloat in a market burdened under 13.6% total vacancy. A company office retrospective indicates class A asking rents in Lower Manhattan have dropped 13% during the past 12 months.

NEW YORK CITY-Citicorp Real Estate sells the Isla Verde Crowne Plaza Hotel to HR Properties Inc. for $26.5 million. The buy is a hedge on the Puerto Rican hotel market, currently recovering from its worst slump since 1982.

NEW YORK CITY-The publicly owned REIT makes its third industrial play with an acquisition in the Walden Commerce Exchange Industrial Park in Cheektowaga, NY. This building is currently under a 10-year net lease with FedEx Ground Package System Inc.