Avery Hall snaps up Yoel Goldman’s stalled hotel site
Avery Hall Investments scooped up a Crown Heights development site where Yoel Goldman once planned to build a flashy hotel. The developer shelled out $10.1 million for 1550 Bedford Avenue, which Goldman put into bankruptcy early this year. Goldman had valued the site at $14 million. Maxim Capital pr
Bill Ackman-backed group’s Seaport dev site sells at $30M loss
Seaport Entertainment Group is taking a haircut on the development site for the controversial Seaport Tower. Tavros Capital is in contract to purchase the site at 250 Water Street for $150.5 million from Seaport Entertainment Group, Bisnow reported. This is an about-face for the seller, which last y
The Daily Dirt: How to lose money on real estate
Some people lose money on real estate because they know nothing about it, others because they know too much. An example of the first group would be New Yorkers who purchased Hamptons homes from a former taxi business operator named Michael O’Sullivan, who had bought them in foreclosure but failed to
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