Richard Stein – Realtor®, GREEN, SFR, CBR, eCertified® — Prudential Douglas Elliman Real Estate, Long Island, NY

Local Agent, Worldwide Marketing

Super Bowl Champion Giants to Get Ticker-Tape Parade in New York on Feb. 7

By Mario Parker

The New York Giants will be honored with a ticker-tape parade in Manhattan for the second time in four years tomorrow after winning the Super Bowl against the New England Patriots, Mayor Michael Bloomberg said.

The Giants beat the Patriots 21-17 at Lucas Oil Stadium in Indianapolis yesterday in a rematch of the National Football League’s 2008 championship game. Bloomberg will present the team with keys to the city at the conclusion of the parade.

The parade will begin on Battery Place and Washington Street at 11 a.m. local time and continue through the financial district, an area known as the “Canyon of Heroes,” Bloomberg said in a statement. A ceremony will follow at City Hall Plaza.

The city will hold a public giveaway for half of the 500 spots available for the ceremony at City Hall Plaza for two hours starting at 9 a.m. today. Residents can access the entry form through the city’s website or the mayor’s Twitter page.

Three large screens around City Hall will allow members of the public to watch the ceremony. Streets will be closed between Broadway and Church from Canal to Pearl as will Brooklyn Bridge access to and from Park Row.

Other streets, including Spruce between Gold and Park Row, will be closed. There may be limited subway access in Lower Manhattan and the Fulton Street 4, 5, A and C will be closed, as will Wall Street 4 and 5 and City Hall R.

Travelers should use Rector Street R Station, Fulton, 2 and 3, and the South Ferry 1 Station. Commuters may also use the Chambers Street Brooklyn Bridge 4, 5, 6 and J station.

The mayor is the founder and majority owner of Bloomberg News parent Bloomberg LP.

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

Bloomberg

SB-XLVI-Can-t-Miss-Play-Manningham-makes-the-catch

Study Reveals Main Culprit Behind Falling Home Values

Blame it on distressed sales for falling home values, according to CoreLogic’s December Home Price Index. 

Home prices nationwide dropped nearly 5 percent from 2010 to 2011, but if you exclude distressed sales, prices dropped only by 0.9 percent, according to CoreLogic.

Foreclosures continue to hamper neighboring property values. 

“Until distressed sales in the market recede, we will see continued downward pressure on prices,” Mark Fleming, chief economist of CoreLogic, told AOL Real Estate.

The states that saw home prices decline by the largest amounts since the housing peak are Nevada, Arizona, Florida, Michigan, and California. All five states have a high rate of foreclosures too. Nevada, which has the highest foreclosure rate in the country for the last several years, saw home values fall 60 percent since the peak. 

Source: “Distressed Sales Undercut Home Prices in 2011, Study Says,” AOL Real Estate

Noho building to hit foreclosure auction block

A 19,929-square-foot residential building at 654 Broadway will hit the auction block March 7, according to data from PropertyShark.com, after the lender filed to foreclose on a $12 million loan made to its developer in 2007.

The six-story loft-style property on Broadway between Bleecker and Bond streets has 17,079 square feet of residential space, 2,900 square feet of retail and sits on a 3,700-square-foot lot. The retail component of the building is currently leased by footwear store Shoe Mania. Calls to Shoe Mania were not immediately returned.

The property was purchased by 654 Broadway Partners in August 2007 for $12.6 million and currently has an outstanding lien of $14.48 million.

CIT Group, the lender for the project, filed to foreclose on the loan in September 2009, claiming that the developer, an affiliate of Cardinal Real Estate Investments, has missed a total of $890,603 in mortgage payments since November 2008.

Cardinal planned to convert the five upper floors to residential condos and the ground-floor retail space to a commercial condo, The Real Deal previously reported.

CIT claimed that two Cardinal execs — Kyle Ransford, company co-founder, and Trevor Stahelski, New York manager — had personally guaranteed the loan but had not honored the arrangement.

The auction will take place at 60 Center Street next month, according to PropertyShark.com.

Neither Cardinal nor CIT were immediately available for comment. – Katherine Clarke

The Real Deal

GET THE PHONE APP

Add NY_AGENT EyeMag widget

Featured Listings

This Day in History

Quote of the Day
Richard Stein reviews

FREE Newsletter

Our strict privacy policy keeps your email address 100% safe & secure.

  • Login

    Categories

    BlueHost
    CJ
    Most Expensive Homes in Brookville
    Current
    Mortgage Rates
    Mortgage Rates on Zillow
    Promote blog