Developer Implode
Welcome to Developer Implode
We all know the world business climate is faced with challenging economic times today and the experts all warn of more to come. The daily headlines are filled with bailout news for the bankers, insurance companies, auto industry and homeowners faced with foreclosure. The oil sheiks, Wall Street investment bankers and real estate makers are all facing a tough road ahead to climb back up to the multi-billion dollar profits they made in previous years.
While the economy was great, there were plenty of real estate developers - many were able to print money, with no shortage of eager buyers. Now, many of those same eager buyers are bailing on pre-construction deals they made during those silly times. Sophisticated sales launches for new condominium and high-rise projects are now being reinvented with new incentive gimmicks and auctions, to reduce existing housing inventories.
The mission for Developer Implode is to help us keep track of the various real estate projects in our communities. We hope to keep our readers informed on all those large holes in the ground, hiding behind the construction fencing hung with the beautiful renderings of what is to come.
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Virtual World - Virtual Real Estate Developers - Virtual Contracts - Virtual Lawsuits |
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WSJ 'Greater New York' reporter Laura Kusisto has details of deals real estate developer Donald Trump has struck with tenants of his building at 40 Wall Street in Lower Manhattan that have helped the building's value jump by $400 million. AP Photo.
Billionaire oil magnate Tim Headington is asking $25 million for a Miami Beach penthouse suite next door to a unit owned by Dallas Mavericks owner Mark Cuban. Candace Jackson has details on The News Hub.
Former tennis champion Mats Wilander has put his 81-acre estate in Sun Valley, Idaho, back on the market, trimming its price to $5.9 million. It was originally listed in June 2008 for $8.5 million. Candace Jackson has details on The News Hub.
Sushil Cheema on Lunch Break looks at the three homes competing for the prestigious title of 'WSJ House of the Week', including a Martha's Vineyard estate, a lakefront estate in Texas and a Carnegie Hill brownstone renovation in Manhattan.
New York art dealer Warren Adelson's five-story townhouse on the Upper East Side serves as both a gallery and a residence. The 11,000 square feet property was renovated in 2006, and is just steps from Central Park. It's listed for $34.8 million.