#commercial-real-estate

#commercial-real-estate

Florida is not only richer than many states when it comes to personal wealth, but is more resilient for the time an expected national recession sweeps the country."Economically speaking, we have our flashlights, batteries, food and water," Sean Snaith, an economist at the University of Central Florida, said Thursday upon the release of his quarterly state economic forecast "Compared to what Florida went through in the two previous recessions, the next recession will be more akin to a tropical depression."

Residential mortgage industry analysts and executives continue to see choppy waters ahead.The banking crisis is still unfolding, impacting the mortgage-backed securities (MBS) space, reducing jumbo loan offerings, and putting pressure on commercial real estate companies.Even if the U.S. debt limit impasse is solved, the U.S. can face a downgrade to its long-term debt, with consequences for the overall economy.

Tenants living in Manhattan's largest apartment complex, Stuyvesant Town-Peter Cooper Village, won a battle to keep their rents insulated from potentially sharp increases, after a judge ruled this week against their landlord, the Wall Street private equity firm Blackstone.The company is the largest owner of commercial real estate in the world, and has lately been expanding into rental housing.

Sources have told us that the Lerner family and sports team investor, Ted Leonsis, were getting close to an agreement on the sale of the team earlier this month, but they were still too far apart on being able to shake hands on a final price due to each sides' valuation of the MASN situation.A source told us that a sale of the team has not been called off, but this source does not know if the two sides can meet in the middle on a final price, and that led our source to think that this sale might not happen at all this year or ever.