retail: AIG agrees to sell 2 NYC buildings
- 06/03/09 04:03 AM
The embattled insurer American International Group Inc. is selling its headquarters building in New York and a nearby building in a deal expected to close at the end of this summer, a person familiar with the matter said Wednesday. But the person said that AIG is not disclosing the price or who the buyer is. The person asked for anonymity because the sale has not been made public yet. The building sales are the latest move by AIG, which has received $182.5 billion in financial support from the government since September, to shed assets to repay the loan package. The buildings … (4 comments)
retail: Mall-Oleums
- 01/29/09 10:22 AM
Remember when Malls were the place to go and for a while people avoided them because they were too crowded! Can you recall when the walkways of malls were filled with Bustling Kiosks and shiny model cars? Those days of successful franchises filling the spaces is long gone and malls are soon to be Ghost Malls in certain areas and demographics. (i.e. Rolling Acres Mall... What a Disaster...) For the last 20 years, the American consumer has carried the burden of the world on its broad shoulders. A heavy yoke, to be sure, but one that steroids made lighter; the steroid … (2 comments)
THE OTHER SHOE HAS DROPPED. Banks began issuing their fourth quarter reports this week and a potential major trend appears to be the negative effect deteriorating business conditions are beginning to have on the credit quality of their commercial real estate loan portfolios. In addition, banks are reporting they expect the credit quality of their portfolios will only continue to worsen. Not surprisingly, bankers also noted that the overall demand for loans has declined and so has the credit quality … (4 comments)
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Commercial Investment Real Estate, Ohio, Summit County, Cuyahoga County, Apartments For Sale, Multi-Family, Retail
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The embattled insurer American International Group Inc. is selling its headquarters building in New York and a nearby building in a deal expected to close at the end of this summer, a person familiar with the matter said Wednesday.
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