Early Afternoon Update

A lender files a foreclosure suit against developers Tessler and Chetrit over Herald Square tower. [TRD]

Four percent commission for co-brokers becoming standard for developments with larger inventories. [TRD]

Last retail standing: the curious success of pawn shops. [WSJ]

S&P/Case-Shiller Index (PDF here) posts its 27th consecutive monthly home price drop. [CNNMoney]

Oh, and, according to the ICSC: It’s been the worst holiday shopping season since at least 1970. [CNNMoney]

Early Afternoon Update