
Citadel’s Ken Griffin Taps St. Patrick’s Air Rights to Boost NYC Office Tower
Citadel’s Ken Griffin is in contract to purchase air rights from St. Patrick’s Cathedral in Manhattan to build a giant skyscraper that will house Citadel on Park Avenue.
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Citadel’s Ken Griffin is in contract to purchase air rights from St. Patrick’s Cathedral in Manhattan to build a giant skyscraper that will house Citadel on Park Avenue.
Signa dismissed the chief executive officer of its two main property units due to its strong suspicion he’d violated his duties as a board member.
The potential acquirers of Macy’s Inc. probably aren’t interested in trying to arrest the storied department-store operator’s decadeslong decline. Instead, analysts say the investors are likely eager to buy its real estate assets and potentially spin off its higher-end Bloomingdale’s and Bluemercury chains.
As a deeply divisive re-write of Chile’s constitution comes to an end, interest rates fall and economic growth returns it seems that Chile’s bond market is regaining its mojo. But there may be one final sting in the tail from the last three years of social, political and economic turbulence.
Solomon Partners, the financial advisory firm previously known as PJ Solomon, is relocating its headquarters to Manhattan’s 1251 Avenue of the Americas, the former Exxon Building, as the company expands in New York.
Oct 13, 2022
BNN Bloomberg
,More Canadians are opting to lease their condominiums as a surging demand for rental properties persuade individuals to hold onto their properties, according to a RE/MAX Canada report.
In RE/MAX’s 2022 Canadian Condominium Report released Thursday, it found the condo market is “losing inventory to an attractive rental market, as would-be sellers simply opt to lease their units long-term.”
“For those who have adjusted expectations with every rate hike, the cost of carrying a mortgage versus renting is now more comparable, given sharp double-digit increases in rental rates throughout the major markets, but especially in B.C. and Ontario,” said Christopher Alexander, president of RE/MAX Canada, in the press release.
“So, while fewer sales have occurred in 2022, condominiums represented a greater proportion of overall sales, as buyers gravitated to affordable options to achieve home ownership.”
The report found condos had the largest percentage of total residential sales in Greater Vancouver (54.3 per cent), followed by the Greater Toronto Area (36.3 per cent) and Fraser Valley, B.C. (31.9 per cent).
RE/MAX Canada also found condo sales were down in the first eight months of the year in the Greater Vancouver and Fraser Valley, Greater Toronto, Ottawa and Nova Scotia housing markets.
While many Canadians may be waiting on the sidelines for a decline in housing prices, Elton Ash, executive vice president of RE/MAX Canada, said the recent slowdown in sales doesn’t mean there will be a crash anytime soon.
“Buyers should be cautioned that the current slowdown in sales activity is likely not indicative of a crash,” said Ash in the release.
“Prices for condominium product have remained stable or risen in most major urban centres year-to-date. Conditions are balanced overall and, as such, buyers and sellers with realistic expectations should be able to achieve reasonable objectives.”