The Wednesday Wrap. The Thursday Preview.

The Wednesday Wrap

A Metlife Inc. real estate investment subsidiary has provided $161.5 million in financing to a CBRE Global Partners real estate investment fund that has purchased the Marathon Oil Tower in Houston. The New York-based insurer had more than $43 billion in commercial mortgages outstanding at the end of 2012.  Info on its site, here.

High-profile “ultra luxury” real estate listing firm/broker Nest Seekers International, which has management links to NYC’s LEV Group Development, announced it expanded to the West Coast, in a partnership with Marisa Zanuck in (of course) Beverly Hills, Calif. Details here.

Veteran industry executive and former Cushman & Wakefield CEO Glen Rufrano is back as chairman and CEO of a firm the predecessor of which he was a founding partner and where he spent 17 years. He left C&W after a three-year run in June.  Here's Real Estate Weekly's take.

ICYMI Tuesday, tearing down neighborhoods is now generally seen as a good option for developing cities, in the New York Times.The often-sad story serves almost as a sequel to the Times' June 20, 2010, Detroit-specific “Razing the City to Save the City.”

Finally, The Daily News, which is closely watching the New York City Housing Authority in a series of reports and editorials, today described a suit to halt a plan by Mayor Mike Bloomberg that could lead to private luxury buildings and units on Manhattan NYCHA land. The developers would lease the sites for 99 years--reportedly generating $50 million annually for the city's coffers--set aside 20% for affordable housing, and then pocket the profits on the 80% remaining. Monday is the deadline for proposals from the real estate investment industry. The details can be found here.


Gowanus is the next Dumbo, yes.  We know that. Here's a rundown on some of it in the Daily News.

The Daily News also has details on the hottest new residential building in the city by far--2,800 applicants for 66 new units, opening Friday.  It's relief for fixed income elderly: affordable senior citizens housing in Astoria.

"Fairholme Proposes to Buy Insurance Businesses of Fannie, Freddie," and then close them down, ending government ownership of mortgages, from Reuters via the New York Times.

The Times also has posted this weekend's "The Hunt," ending in the East Village.

Source: New York Times, New York Daily News, Real Estate Weekly, New York City Housing Authority, Cushman & Wakefield, Glen Rufrano, LEV Group Development, Marisa Zanuck,
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