New Retail Project in the Bronx
The MTA is selling a 550,000sf site in the Pelham Gardens area of Bronx to a partnership of Grid Properties and Gotham Organization for $30.5 million,
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Montreal Sees Rise in Commercial Property Tax Rates
Montreal’s commercial-to-residential tax ratio increased to 4.40 in 2013 – a 2.7 percent rise over the previous year, according to The Real Property Association of Canada (REALpac). This stands in contrast to other Canadian cities which have seen improvements in … Continue reading →
DC Mayor Vetoes “Large Retailer Accountability Act”
DC Mayor Vincent C. Gray vetoed the Large Retailer Accountability Act of 2013. In a letter to DC Council Chairman Phil Mendelson, the Mayor cited six “fundamental misunderstandings” about the effects of this legislation: The bill is not a true living-wage … Continue reading →
July’s Employment Numbers
The U.S.economy added 162,000 jobs in July. Most of those jobs were in retail, food services, financial activities and wholesale trade, according to The New York Times. Many hurdles have to be wholesale viagra india overcome. super cialis canada Mengiste … Continue reading →
Wal-Mart Threatens to Abandon Plans for New Stores Over DC “Living Wage” Bill
Wal-Mart will abandon plans to build three new stores in DC and it will review the financial and legal implications of not opening three others that are currently under construction if the city implements the “living wage” legislation. This “living … Continue reading →
Rental Returns Lower on Europe’s Top Shopping Streets
Yields* for retail property on London’s Bond Street fell to 2.75 percent at the end of Q1 2013 – the first time that yields have dipped below three percent since at least 1991, according to Reuters. Retail property yields in … Continue reading →
Capital Gains Tax Contributes to Surge in Beijing’s CRE Market
In an effort to cool the residential housing market, China implemented a 20 percent capital gains tax on residential property effective March 1, along with higher down payment requirements for second home buyers. The previous capital gains tax rate was … Continue reading →
ECJ Rules on Spanish Eviction Law
The European Court of Justice (ECJ) delivered a victory to Spanish mortgage holders by striking down a law that proscribed Spanish courts from halting evictions even if the fairness of the mortgage agreement was in dispute. The court noted that … Continue reading →
Adams Morgan Hotel
The DC Office of Zoning has approved plans to build a boutique hotel in the Adams Morgan district of the city. The historic First Church of Christ Scientist building will be incorporated into the 227-room hotel which will also claim … Continue reading →
Fairfax County to Increase C&I Tax
Fairfax County, Virginia has proposed an increase of 1.5 cents in the commercial and industrial (C&I) tax rate. If approved commercial and industrial property owners will pay $1.22 per $100 of assessed value, according to The Washington Business Journal. The … Continue reading →