Downtown New York, where demand for office space has soared in last few years, could lose its spot as the best-performing commercial property market, according to a report in Bloomberg News.
Vacancies in the towers are on track to exceed 14 percent of the area’s 87 million square feet by 2011, according to property broker Cushman & Wakefield. Open space is rising faster than demand as American International Group relocates, Bank of America shifts its headquarters to Midtown and Goldman Sachs Group moves into its new downtown building,
Lower Manhattan had withstood the commercial property slump better than any other U.S. business district.
Playa del Carmen Real Estate owners enjoy a beach life style unsurpassed anywhere in the world. Many US and Canadian citizens have retired in Playa del Carmen as they not only can enjoy a peaceful and relaxing life but also the town culture vibrancy. Playa del Carmen regularly hosts many events and cultural fest and is fast emerging a cultural hub.
Elton John concert at Chichen Itza is one such event. The concert scheduled for April 3, will kick start Elton John’s tour of nine countries, and it will include participation of the Yucatan Symphony Orchestra. This concert will be the third large-scale concert to be organized for Chichen Itza in the last couple of years.
Chichen Itza, a Mayan pyramid site, is an archaeologically important site is also one of the New Seven Wonders of the World, and provides residents from Playa del Carmen and Merida Real Estate area, an awe-inspiring visit. The recent concerts which have been planned at the site also provide one of a kind of cultural experience.
A few years ago, real-estate developers had aggressive plans to bring trendy retail and office space to inner-city communities, which were attracting a growing middle class. Now, some of those developers are having second thoughts.
The latest is Kimco Realty Corp., which is considering pulling out of a development in the heart of Harlem, the predominantly African-American and Hispanic community in upper Manhattan. Kimco and its joint-venture partner, Sigfeld Group LLC, had planned to turn the site into a mixed-use development.
The latest change on government-sponsored mortgage modifications, demands that home owners provide an initial package of documents before the first phase of a modification can begin.
The newest change for the ever-changeing Obama’s Home Affordable Modification Program (HAMP) also requires lenders (or servicers) to review the documentation and respond with an approval or rejection within 30 days.
The new guidance also details how lenders must convert a trial modification to a permanent one
Effective June 1, 2010, the new provisions are designed to speed up the process of getting struggling home owners into mortgage modifications they can afford. It doesn’t really change the documents required, just the process.