Levine Talks One Brooklyn Bridge Park Closings
The Real Deal sponsored a panel discussion that included a number of real estate professionals with projects around the city, including RAL Companies’ Robert Levine, the developer of One Brooklyn Bridge Park. Levine dropped some tasty tidbits on how sales at the condo are going: “about 90 of the 126 units in contract have closed,…
The Real Deal sponsored a panel discussion that included a number of real estate professionals with projects around the city, including RAL Companies’ Robert Levine, the developer of One Brooklyn Bridge Park. Levine dropped some tasty tidbits on how sales at the condo are going: “about 90 of the 126 units in contract have closed, another 20 may fall through, and the remaining condo unit buyers are trying to renegotiate, Levine said. The units are selling for an average of over $1,000 per square foot, he said.” In case that sounds unimpressive, Levine said it’s been much easier to get contract-holders to close at 1BBP than at an RAL development on the Upper East Side. Last time we heard about the 449-unit 1BBP, of course, was earlier this month, when RAL announced it was cutting prices on many units and renting out others in the building.
Residential Trends Vary by Nabe, Panelists Say [The Real Deal] GMAP
Rentals, Price Cuts and Loan Extension at 1BBP [Brownstoner]
Right, 11217. And they’re doing so with half their pay or more. Or worse, delinquency.
I know not everyone is like me. Sense aint common. I don’t follow the herd.
***Bid half off peak comps***
I know this will come as a shock for you, BHO, but lots of people live in the area they live in because they love it, not because of trying to scrape the bottom of the barrel like you. Your mentality is more like a 22 year old fresh out of college who drifts from place to place trying to get the cheapest roach infested trap you can find.
Not everyone is like you.
“I guess that somewhat discredits the whole ‘flight to Manhattan’ bullsh&^%t.”
Survey says…ehhhhhhhhhhh!!! Next contestant please.
Park Slope shoppers are now looking here. Shoppers here are now looking at mid to upper Manhattan. Shoppers in Bushwick are now looking at Stuyvesant Heights.
Upgrade upgrade!
***Bid half off peak comps***
” “about 90 of the 126 units in contract have closed, another 20 may fall through, and the remaining condo unit buyers are trying to renegotiate, Levine said.”
5-29 – ‘The Day After’ the Interest Rate Spike
FRIDAY, MAY 29TH, 2009 | BY MR. MORTGAGE
After the Rate Spike — Mortgage Operations Turmoil…Kick out the Dead Loans Now
Rates are all over the map as lenders assess the damage and price cautiously. Now, it is a mad dash to only focus upon the loans that are locked and have a chance of funding. If the locked loans are not funded quickly and the interest rate complex continues to experience this extreme of volatility, serious losses can occur.
The letter below was just sent by a national bank’s wholesale department this afternoon. This is the mortgage operations nightmare I highlighted in Thursday’s report. In a nutshell, they are kicking aside everything that is not locked or not a purchase in contract.
This is the desperation move that overworked, understaffed mortgage divisions have to make in order to salvage what can be salvaged and fund the loans that can fund in the shortest amount of time possible — preferably before the end of the rate lock.
Kicked aside could be at least half of their past two month’s of unlocked, unfunded originations that may ultimately parish if rates don’t come back quickly…or if the borrower can’t be coaxed into an 3/1 or 5/1 intermediate-term hybrid ARM, which are now at about the same interest rate level as a 30-year fixed was at the beginning of the week. Shortening duration is now an option where two months ago it was not.
I wonder how many loans will fund? Dave take a look at your Bloomberg terminal MBS market and get back to me, OK Jackass.
The What (Tick.. Tick.. Tick..)
Someday this war is gonna end…
I can let folks in on my secret now. The little street in front of this development had no alternate side of the street parking for years until it got closed last year. Was best place in Brooklyn Heights to park.
I guess that somewhat discredits the whole “flight to Manhattan” bullsh&^%t.
What????