Articles Written by:    MICHAEL STOLER     

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Costco, Target, Best Buy, oh my!

A number of regional, national and international retailers are set to open first outposts in New York City. Last week, Costco, the largest membership warehouse club in the world, opened its first location in Manhattan in the 500,000-square-foot East ...

From MICHAEL STOLER, The Real Deal: New York,  17 Nov 2009
Related Topics: Best Buy,  Costco,  BJ's Wholesale Club, Inc.,  Vornado Realty Trust,  Home Depot, Inc.

FHA changes could pose serious financing problems for all classes of buyers

As condominium unit sales increase, developers are facing difficulties with the financing of end loans for individual buyers. A principal at the Hudson Companies, the developer of two new projects, Third and Bond in Carroll Gardens and Riverwalk Court ...

From MICHAEL STOLER, The Real Deal: New York,  10 Nov 2009
Related Topics: Federal Housing Administration,  Fannie Mae

Insurance companies, investment banks return to mortgage financing game

While the major money center banks continue to limit financing for commercial real estate, a number of insurance companies are entering the game to provide much needed long-term mortgage financing. Earlier this year insurance companies were providing ...

From MICHAEL STOLER, The Real Deal: New York,  3 Nov 2009
Related Topics: TIAA-CREF,  Northwestern Mutual,  Prudential P.L.C.,  John Hancock,  Principal Financial Group Inc

Hospitality market improves as Manhattan welcomes new, or totally renovated, hotels

There are positive signs on the horizon for the New York City hospitality market with figures showing positive signs and new hotels opening. According to Steve Hood, senior vice president of information technology at Smith Travel Research, 15 of the ...

From MICHAEL STOLER, The Real Deal: New York,  27 Oct 2009

Number of new school seats in two-year period marks record high

September marked the opening of the public school system in New York City, which included 23 new school buildings with more than 13,000 seats. The new construction, along with 18 new school buildings opened last year, brought the most ever new school ...

From MICHAEL STOLER, The Real Deal: New York,  20 Oct 2009
Related Topics: Frank Sinatra

Bad economy, influx of new development cause more landlords to offer incentives

In a tough market when roughly 1,500 new Manhattan apartments are coming to market, landlords plan to keep offering prospective renters incentives including free rent as well as free amenities from health club memberships to storage space to ...

From MICHAEL STOLER, The Real Deal: New York,  29 Sep 2009

Waiting for Godot

I don't want to sound like an undertaker, yet for the past eight weeks on Friday evenings when I receive an e-mail from the Federal Deposit Insurance Corporation, I learn that the another bank has been shuttered and ceased operations. Friday evenings ...

From MICHAEL STOLER, The Real Deal: New York,  22 Sep 2009
Related Topics: Federal Reserve Bank of Chicago,  Federal Deposit Insurance Corporation,  FDIC,  Federal Reserve,  J.P. Morgan Chase & Co.

Banks make it nearly impossible to obtain $8,000 tax credit

November 30 is just around the corner, when a first-time homebuyer must close on the purchase of a residence to qualify for the $8,000 tax credit. The tax-credit law requires the buyer to close on their purchase, not just be under contract for a ...

From MICHAEL STOLER, The Real Deal: New York,  15 Sep 2009
Related Topics: Johnny Isakson,  Christopher Dodd

Not the Mega Millions, but apartment lottery offers pretty good jackpot

While millions of people are purchasing tickets every day to win the Mega Millions lottery, thousands of New Yorkers are sending in applications to win the opportunity to own or rent a brand new apartment in central Harlem. Because of the efforts of a ...

From MICHAEL STOLER, The Real Deal: New York,  8 Sep 2009
Related Topics: Frederick Douglass

Retailers seizing low rent opportunities to open in Manhattan

If you a national or international retailer, it is your objective to operate a retail store in New York City, with Manhattan remaining the prize location. And in the down market, more national chains are capitalizing on lower rents. On July 31, Texas- ...

From MICHAEL STOLER, The Real Deal: New York,  1 Sep 2009
Related Topics: Costco,  Nordstrom, Inc.,  J.C. Penney,  Wal-Mart,  Virgin Megastore

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