Your Holiday Week's Friday News, In Advance

News ready for you on Friday morning, including some holiday catching up:

  • Smaller lenders are getting a bigger market share of the mortgage and refi lending business.  There is data in Friday’s New York Times that’s interesting, and, if you’re in the market, may tell you where to look for your own loan.  HERE.
  • The Real Deal was first with the Hudson Yards-vicinity purchase by Spitzer Enterprises, the family firm of former New York Gov. Eliot Spitzer.  Its story is HERE, and serves as an update on the Spitzer firm’s recent activity.  The New York Times Friday article has been posted HERE, which serves as an update for the Hudson Yards projects. 

  • And in case you really have been in a holiday bubble, the ex-governor has been in the news:  four straight New York Post covers focusing on his new girlfriend, which resulted in a joint announcement from Spitzer and his spouse that his marriage was over.  Keeping the story going is the news that the news may cost the new girlfriend her relatively new job:  She apparently won’t be moving from her post in the Bill de Blasio transition team to the administration.  Details on that last and latest point, awaiting a fifth-in-a-row Post cover which may be out by the time you read this, HERE.
  • Tens of thousands of dollars can go into home stagings, a cottage industry-within-an-industry.  A new study by a professor at the College of William and Mary in Williamsburg, Va., notes one tiny problem that has occurred to anyone writing a check for one:  Stagings don’t really matter in the price people are willing to pay for the house or apartment.  Brokers and stagers—brace yourself—disagree.  In Friday’s Wall Street Journal, HERE.
  • The Journal also just posted a story, “Townhouses Line Up on Brooklyn's State Street,” that the paper says buck the trend to high-rise residential development, HERE, with a subscription. 
  • The Daily News has an article in Friday’s paper on planned massive affordable housing project that will launch in the South Bronx: $345 million, 985 units, with retail space. Seven development partners reportedly involved, and scheduled to break ground in 2015. But: approvals still needed.  The first for the new mayor? HERE.
  • An important catch-up article: Municipal debt tied to property development is the best performer among state and municipal bonds nationally in 2013, helped by the housing market rebound, reported Bloomberg News early Thursday, HERE.
  • Finally, ICYMI on Christmas eve, the Malkin family was sued over the formation of the Empire State Realty Trust, the REIT that had an IPO in early October.  The REIT's assets are the Empire State Building and 19 other properties in which the family has an interest.  The charge once again is unjust enrichment for the family and its company at the expense of the shareholder. The shareholders have been trying to block and unwind the deal since it was proposed and the Malkins gathered the votes, all of which the Empire State Building shareholders have maintained in court actions including the new suit, was done unfairly. The Daily News article, HERE.  Reuters, HERE.
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