Nastiest Madoff Effect So Far on Real Estate: Psychological (The New York Observer) In this week's print Observer , my colleague Dana Rubinstein noted that the likes of Mort Zuckerman and Fred Wilpon were "just the beginning of what is likely to be a deluge of real estate heavies victimized by anti-mensch Bernard Madoff." Indeed. The Times ' Christine Haughney names more victims , including CB Richard Ellis' worldwide chairman Stephen Seigel and massive landlord Leonard ...
Prosecutors stage searches at Hypo Real Estate (AP via Yahoo! News) German prosecutors said Wednesday they have searched the offices of troubled lender Hypo Real Estate Holding AG and the homes of former managers in an investigation of suspected market manipulation and other offenses.
Madoff Scandal Shaking Real Estate Industry (New York Times)Almost no segment of New York City?s real estate industry was spared in the Madoff scandal, which may be history?s largest Ponzi scheme: commercial brokers large and small, little-known developers and prominent families like the Wilpons and Rechlers all lost money to Bernard L. Madoff, industry executives say.
Real estate sector gets policy props (People's Daily)The government yesterday waived business tax on real estate sales and relaxed mortgage policies for second-home buyers in the latest attempt to buoy the sluggish property market. The policies were among those unveiled at an executive meeting of the State Council, or the Cabinet, presided over by Premier Wen Jiabao. The 5.5 percent sales tax will be waived if the property is sold two years after ...
