Midtown Drives Market According to Cassidy Turleys June Manhattan Market Report

New York, NY (PRWEB) June 13, 2013

Cassidy Turley, a leading commercial real estate services provider in the U.S., released their June Manhattan Market Report, which indicates Midtown is experiencing a strong recovery and Midtown South tightens even further. The picture is not nearly as bright for Downtown as more space is added. Encouraging employment figures and job creation continue to push the market upward. Manhattans net positive absorption was 860,316 square feet in May.

Demand for space in Midtown has picked up with positive absorption up over half a million square feet year-to-date. In May, 621,993 square feet of positive absorption was reported, dropping the availability rate down to 11.6 percent. The Fifth/Madison submarket improved considerably over the last two months as leasing activity picked up. In addition, the demand for high-end space with a growing number of tenants willing to pay more than $ 100 per square foot (24 such leases were signed so far this year compared to 34 throughout 2012) produced a drop in availability to 13.0 percent since the peak in February 2013 of 15.1 percent.

More good news for Midtown South as the submarket continues to lead the way in recovery with availability dropping to 8.4 percent. Class A asking rents were up $ 0.07 per square foot to $ 69.34 and Class B up $ 0.76 to $ 57.98 per square foot.

News of a large block of office space coming onto the market pushed Downtowns availability rate up to 14.3 percent in May. Class A asking rents dipped $ 0.81 per square foot to $ 52.61 and Class B inched up $ 0.13 to $ 36.21 per square foot.

By interpreting the increases or decreases in the market and applying that information to our clients business goals, we are able to consistently provide best-in-class service, comments Peter Hennessy, President, New York Tri-State Region Cassidy Turley.

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. The company represents a wide range of clientsfrom small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $ 22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate servicesincluding capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit http://www.cassidyturley.com for more information about Cassidy Turley.


Local Housing Market Feeling Hot, Hot, Hot in June

Local Housing Market Feeling Hot, Hot, Hot in June
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Atlanta Bank Opens Local Mortgage Lending Office
… requiring full remittance of payment · ? Developers Still Waging Legal War · Sai Ram Real Estate Firm Files for Bankruptcy ? … (Source: Adam Van Brimmer Savannah Morning News, Ga. (MCT) — Savannah's crowded mortgage-lending market has a new …
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A look at Tuesday's primaries in Texas and Georgia
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CoreLogic® Reports 60000 Completed Foreclosures in June

CoreLogic® Reports 60000 Completed Foreclosures in June
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (11.5 percent), New Jersey (6.5 percent), New York (5.1 percent), Illinois (5.0 percent) and Nevada (4.8 percent). The five states with the …
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BB&T, SunTrust target Florida foreclosure properties
BB&T Corp. and SunTrust Bank, both banks with a significant presence in Charlotte, have their sights set on seizing several properties in Florida that are in foreclosure, the South Florida Business Journal reports. BB&T, the Charlotte market's third …
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Buyer snaps up 275 Phoenix-area foreclosure homes
Fannie Mae announced in February that it would auction 2490 foreclosure homes in Phoenix, Atlanta, Chicago, Florida, Los Angeles and Las Vegas. It was the first time the government-owned mortgage firm agreed to openly sell groups of foreclosure houses …
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S. Fla. foreclosure rate ranked 13th in nation
RealtyTrac, a listing firm based in Irvine, Calif., monitors public records for default notices, scheduled auctions and bank repossessions. During the first six months of the year, South Florida had 46559 homes in foreclosure, up 24 percent from a year …
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Barbados Real Estate News – June 2010 – Terra Caribbean

www.terracaribbean.com Managing Director of Terra Caribbean Barbados – Andrew Mallalieu chats about the June 2010 Newsletter entitled “Green Shoots are Being Baked in the Sun”. This month’s topic focussed on the start of the Barbados real estate industry rejuvenation with some words of caution and some signals of hope – but also looks towards what needs to be done to improve the Property development system in Barbados. We invite you to read the Terra Caribbean Barbados Newsletters at www.terracaribbean.com

Homes.org Details the June New Home Sales & Starts Report Mixed News for New Homes

(PRWEB) July 29, 2012

Homes.org has released a monthly report that details the June new home sales and starts throughout the United States. The report examines key findings for new home sales in addition to forecasts for what buyers and sellers will likely see in the months to come based on the market activity in June.

The June New Home Sales Report held mixed news while the New Housing Starts report suggests that home building is definitely moving in the right direction. Overall, the numbers for the year show promise even though some figures month-over-month are down.

Key Findings in the June 2012 New Home Sales and Starts Reports include:

????Annual rate of new home sales was 350,000 in June
????8.4% less new homes sold compared to May
????Year to date the number of new homes sold is 15.1% higher than 2011
????Inventory was down 144,000 new homes available on the market
????Median New home price was down 3.2% compared to May 2012
????Annual rate for building permits for privately owned housing units was down to 755,000????
????Privately owned housing starts annual rate was up to 760,000 in June
????539,000 annual rate for single-family housing starts
????Annual rate for privately owned housing completions was up to 622,000
????Annual rate for single-family housing completions was up at 470,000

After Mays two year high for new home sales, things have cooled off significantly. The June annual rate is 15.1% higher than the same time last year, but its down 8.4% compared to May. How things are trending for the year is much more important than the month-to-month numbers which can be volatile, so real estate experts stress that the report indicates new home sales are on the rise. Several factors are contributing to the weak June sales including tight mortgage lending and tight inventory levels.

Even as new home sales declined, more building got underway in June than the month before. Housing starts were up 6.9% at an annual rate of 760,000. Housing starts havent been that high since October 2008. However, this increase in building may not be sustained. Building permits were down 3.7% in June compared to the month before.

Top Factors Effecting Home Sales

????Tight Inventory Levels
????Tight Lending
????Slow Economic Recovery

To learn more or search for new homes for sale in your area, please visit: Homes.org

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools, home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures?

Star Nine Ventures? is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

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