Remember Remember the 15th of September
Whoever coined the phrase “what goes around comes around” clearly didn’t know anything about commercial real estate.
In yet another example of life’s little injustices, two former Deutsche Bank executives who made fortunes lubricating the real estate juggernaut have just landed plum gigs at LNR Property.
The Journal‘s Lingling Wei reports:
Justin Kennedy, ex-head Read More
Remember Remember the 15th of September
The Journal examines the state of the national office market in today’s newspaper. The prognosis: tepid. Asking rents are, in some places, stabilizing (not rising, just stabilizing). Investors like Mort Zuckerman are once again investing. And while the national vacancy rate is still rising, it’s doing so more slowly.
Which is to say, commercial real Read More
Remember Remember the 15th of September
For Adam Hochfelder, it’s been a rapid fall from atop the Helmsley building.
In 2003, Mr. Hochfelder bestrode the golden landmark and we called him the young real estate baron who “buys and builds Manhattan.” The hulking man with an equally large ego stunned the city when he bought part of the building at the Read More
Remember Remember the 15th of September
Today’s Journal has a great piece on the skeleton of now-defunct Lehman Bros., chronicling how Lehman Brothers Holdings Inc. is trying to dig its way out of the failed real estate investments that the failed bank got into.
The holding company (being run by the head of Alvarez & Marsal), has put more than $1 Read More
