The bank has no shortage of New York commercial real estate, having just recently taken up residence in its new tower at One Bryant Park, and sources indicate it may Read More
Well, it has. And I want blood. I want sausage. And so should anyone whose modest mite has been decimated by the hoggishness of Wall Street and the Read More
It is deliciously ironic that executives whose gargantuan firms fueled the housing crisis are already making some very plum apartment purchases. Lehman’s former head of mortgage banking, Kurt A. Locher, recently spent $5.25 million on West End Avenue, for example, and ex-AIG executive vice president Robert M. Sandler spent $3.45 million at the Hampshire House Read More
With the announcement last week that its top seven executives would forgo annual bonuses for 2008, Goldman Sachs continues to demonstrate why it has always stood out from the rest of Wall Street as a leader that represents the best in capitalism. By giving up tens of millions of dollars in compensation, Goldman’s chief executive, Read More
Goldman Sachs and Morgan Stanley have become plain old-fashioned bank holding companies. Lehman declared bankruptcy. The bull (Merrill) and the Bear (Stearns) have both been Read More
These three firms – Bear Stearns, Lehman Brothers, and Merrill Lynch – had nearly 30,000 employees in New York, paid roughly 10 percent of Wall Street wages, and approximately 15 percent of all Wall Street bonuses.20 percent Read More
Mayor Bloomberg addressed the Wall Street crisis this afternoon, recounting conversations he's had with executives at Bank of America and Merrill Lynch over possible layoffs: "Greg Fleming, the President and COO of Merrill, and Ken Lewis, the President and CEO of Bank of America, have informed me that they believe jobs losses in the New Read More
The weekend Wall Street crisis will affect New York real estate. Here's how:
Apartment sales ~ Manhattan recorded over 10,000 home sales in 2007, but sales numbers have been off throughout the city in 2008. In Manhattan in the second quarter, home sales were down 21.8 percent annually, according to a Miller Samuel-Douglas Elliman report. In Read More
From the article:
Merrill's Read More
Brookfield Properties seems to be moving along with a renewal with Merrill Lynch at the World Financial Center, which, at least as of last month was likely to mean a five-year lease. On a conference call with investors today, a Brookfield executive said the company was in “active and productive discussions with Merrill,” though Read More
The lead organizer of the "Save The Hotel" campaign was reacting to news that financial giant Merrill Lynch will likely stay put in the city's financial district -- and not relocate to the site of Read More
Such a move comes as good news Read More
But Ahmass Fakahany, a top-ranking executive at Merrill Lynch, and wife Alsun Keogh have sold off one of their apartments at the Police Building, the baroque law enforcement HQ turned co-op at 240 Centre Read More
The last-minute drive to save the hotel is flagrant anti-development obstructionism, under the thinnest possible mask of preservationism. It will Read More
Just weeks ago, Merrill was very close to moving its headquarters to the site of Vornado Realty Trust’s Hotel Pennsylvania Read More
