Another top NYCHA official is going to resign over the lead paint scandal

The New York Housing Authority’s general manager Michael Kelly is expected to resign Monday, making him the third NYCHA official to lose their job over the lead paint scandal. Vito Mustaciuolo, currently a deputy commissioner at the Department of Housing Preservation and Development, will take over as acting general manager, the New York Daily News[…]

TF Cornerstone lands big refi on Wall Street

TF Cornerstone refinanced its residential tower 45 Wall Street with a $144 million Freddie Mac mortgage issued by Wells Fargo. The new loan replaces a $134 million Fannie Mae mortgage issued by JPMorgan Chase, Commercial Observer reported. Built in 1959 as office space, the 27-story, 493,187-square-foot Financial District tower was converted to rental apartments in[…]

PHOTOS: Inside Cooper-Horowitz’s holiday bash

Two poofy-coated tourists who hopped off Grand Central Terminal’s elevator on the wrong floor and stumbled into Cooper-Horowitz’s holiday bash caught a rare sight: New York’s real estate industry in its purest, condensed form. The mortgage brokerage’s annual bash, hosted at Michael Jordan’s steak house, is an institution. For six loud, boozy hours in the[…]

Daily Mail writes down Xceligent’s value to zero amid “disappointing” NYC expansion

  Daily Mail and General Trust wrote down the carrying value of its real estate data subsidiary Xceligent to zero amid lower-than-expected profits from a push into New York City, the company said Thursday morning. “Quite candidly the revenues were disappointing and that suggests a longer and more challenging path for Xceligent to profitability,” DMGT’s[…]