Thursday, December 4, 2008

Thursday Tidbits - December 4, 2008

CoStar reports the ubiquitous Younan Properties is taking the plunge on 180 N. LaSalle, with a closing date of no later than December 17.

There's light at the end of the tunnel? That's what panelists were saying in Irvine yesterday.

If you own a title policy through LandAmerica or are closing a deal with them, don't panic. Fidelity has you covered. If you have a 1031 account with them, then, you may have a problem. That company and the holding company went bankrupt. Lawyers Title and Commonwealth Land Title did not and are being sold to Fidelity and are doing business as usual.

Bailout money and CRE: where's ours?

Doug Cornelius has a great post on the New York Daily News "stealing" the Empire State Building by preparing and recording fraudulent deeds. Apparently they conveyed the building right back the next day, but I agree with Doug (caveat: I am also not licensed in NY) that someone will get in trouble over this one way or another.

1 comments:

Doug Cornelius said...

David -

I am stunned that NY officials are taking the position of having to put new controls in place.

http://www.nydailynews.com/money/2008/12/03/2008-12-03_daily_news_probe_revealing_scandalous_pr.html

They should be pointing out that the transaction was illegal and fraudulent.

I wonder how long it will take for copycats to get out there taking Trump properties.

 
-