Archive for November, 2010
The First Round of Quantitative Easing, or QE1, instituted by the Federal Reserve, covered a period from January 2009 to March 2010, and involved the purchase of approximately $1.4trillion of mortgage-backed securities (MBS) and Treasuries. This did not include the TARP stimulus package which amounted to another $2 trillion. Theoretically, these stimulus efforts staved off a collapse of the US economy, but this $3.7 trillion rescue package did little to repair the economy. It did have the visible impact of inflating stock prices, and reducing borrowing rates for homeowners and commercial property owners. More >
With a change in Congress taking place in the next few weeks, the “Bush” tax cuts expected to be reconfirmed and the President starting to move to the middle as he plans for re-election, business decision makers will be more optimistic. This is an ideal opportunity for brokers to motivate tenants to make long range commitments before rents start to escalate. More >
First Decade of the 21st Century had a Roaring Start and a Punishing Conclusion, Says NAI Global Chief Economist Dr. Peter Linneman
Despite a roaring start to the new millennium, the U.S. economy has little to show for the past 10 years. NAI Global Chief Economist Dr. Peter Linneman examines the key factors and trends that led the U.S. and global economy on a volatile roller coaster over the past decade, from a promising start to a punishing conclusion in a new white paper. More >
Firm Doubles Space at 415 Madison Avenue to House Growing NYC Brokerage, Global Services
NAI Global today announced it has doubled the size of its New York City operations and is expanding its lease at 415 Madison Avenue to accommodate its growing Manhattan base. Upon completion of the buildout, NAI Global New York City will occupy 14,000 square feet, taking over the entire 7th floor.
NAI Global announced today that Arthur Zuckerman has joined its New York City office as Senior Managing Director.
Zuckerman joins NAI Global New York City after nearly 30 years of brokerage with Helmsley-Spear. At NAI, Zuckerman will focus on office, multifamily and hotel brokerage.
Zuckerman managed 1,700 residential apartments and commercial properties for the late Harry Helmsley and Irving Schneider prior to launching his sales career. His first sale of five properties in Lower Manhattan was to the late William Gottlieb. Some of his subsequent sales include the Scott Hotel, Roger Williams Hotel (Leasehold), Blackstone Hotel, Ruxton Hotel, Parc Lincoln Hotel, La Rochelle apartment building, and Commander Hotel, all in New York City.
Zuckerman is a graduate of Upsala College. He is a licensed real estate broker and a member of the Real Estate Board of New York.
NAI Global’s New York City office is located at 415 Madison Avenue.
Two of Germany’s open end funds platforms, Aberdeen’s DEGI Europe and Morgan Stanley’s P2-Value, have decided after a two year closing period that they will close the funds and sell all of their buildings.
Most of the investors that have put money into those funds are institutional investors, large funds of funds, and are now under pressure from their investors to pay the money back. Because most of the money is in real estate assets and there is not that much liquidity left in the funds to repay the investors, management has decided to close the funds, collecting fresh money from new investors or selling some buildings to meet the request from investors who want to get out. More >
Apple has set the groundwork (as usual) with a very interesting and pretty device called the iPad. But beyond reading a book and watching videos, the business community is about to be offered a plethora of finally useful choices in Pad computing. More >