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Volume 3 - Number 18 | September 27, 2005
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TOP STORY: Hurricane Katrina's Economic Toll Remains Uncertain
By Sule Aygoren Carranza As the nation and the industry faces the second-punch devestation of Rita, the full economic impact of last month's Hurricane Katrina is still being debated. What is known so far is that Katrina not only took more than 1,000 lives and thousands of homes, but also will likely go down in the record books as the costliest natural disaster in US history, with far-reaching effects on construction, home and other prices.
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DealWatch: With $105M Inked by HFF, Broad Street Buys, Converts NYC Assets
By Sule Aygoren Carranza To the tune of $85 million, Broad Street Development LLC has purchased a pair of apartment buildings at New York City's 1438 and 1430 Third Ave. The deal and the buyer's planned condo conversion of most of the units were both made possible by a $105.1-million financing package put together by Holliday Fenoglio Fowler.
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Market Spotlight: South Florida Condo Conversions
By Sule Aygoren Carranza For the past year or two, industry insiders as well as external observers have pondered the state of the condominium conversion segment and the direction it's headed. How much longer can the boom last? Is there a bubble? If so, what will the effect be if it bursts? Nowhere are these questions more prominent than in South Florida, the undeniable ground zero of the condo conversion universe.
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Investor Sentiment High on Multifamily, Says DLA Piper Survey
By Sule Aygoren Carranza Industry executives are optimistic, for the most part, about the current state and future of the commercial real estate sector, according to a recent survey conducted by DLA Piper Rudnick Gray Cary. The firm conducted the State of the Market survey in preparation for its 2005 Global Real Estate Summit, held last week.
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