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Featured Article
New York School Construction is Blossoming
After the Norcor Management Corporation bought the Sunnyside Jewish Center in Queens in 2006, it demolished the synagogue in expectation of building residential housing on the site. But like so many projects, the plans were dashed in the wake of the real estate crash, and the parcel has sat vacant for years.
Now, the School Construction Authority is in talks to buy the site and build a 379-student primary school on the land, located at 45-46 42nd Street. The new building, which would open in 2014, is in New York City's most congested school district and would help ease overcrowding at nearby public schools.
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Key Rates
30-Year Fixed Rate Mortgage: 4.81%
10-Year Treasury: 3.35%
1-Month Libor: 0.26%
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CONTACT US
Stephen J. Crawford, Esq.
President
Everest Land Title Agency Ltd.
8111 Rockside Road, Suite 275
Valley View, Ohio 44125
National: (866) 945-4200
scrawford@everestland.com
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About Us
Everest Land manages the settlement of commercial and residential acquisition, disposition, and refinancing activity for banks, developers, life insurance companies, pension funds, Realtors and mortgage bankers. The company issues title insurance policies, creates new sources of fee revenue for mortgage lenders, helps real estate owners and investors reduce the cost of title insurance, and provides clients with state-of-the-art, web-based real estate transaction management systems.
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Greetings!
Two of the most fascinating stories that emerged from this last year are linked below. Happy New Year!!
Stuxnet Worm Still Out of Control at Iran's Nuclear Sites
From Homeless to Harvard (With Video)
Sincerely, Stephen J. Crawford, Esq.
President, Everest Land
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News: Forest City, others aim to turn waste into energy with aid from federal stimulus funds
Federal stimulus money could fuel the transformation of food scraps, manure and sewage into power and heat from Cleveland to Zanesville.
The Ohio Department of Development has awarded $10 million in stimulus grants to 11 projects, which will turn waste into energy in Northeast Ohio and across the state. Most of the proposals involve converting organic waste into methane to power engines that generate electricity and heat. This process could run farms, cut energy costs for businesses and provide power to homeowners through utilities including FirstEnergy Corp. and Cleveland Public Power.
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News: Former Amtrust Bank Headquarters in Downtown Cleveland Put Up For Sale
CLEVELAND, Ohio -- The federal government has put the former AmTrust Bank headquarters in downtown Cleveland up for sale, and the failed bank's new owner also hopes to buy the 18-story office building.
Renamed as the Ohio Savings Plaza, the building landed in the government's hands after the Federal Deposit Insurance Corp. seized the floundering AmTrust late last year and gave it to New York Community Bank. The New York bank took over deposits, investments and some consumer loans from AmTrust and restored the lender's local name to Ohio Savings. Now, New York Community Bank is trying to buy AmTrust's former headquarters from the FDIC.
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News: Former 49ers QB, DeBartolo Hope to Score Luxury Hotel at Future NFL Stadium
Former NFL quarterback great Joe Montana and his investment group, which includes former San Francisco 49ers owner Edward DeBartolo, Jr., are interested in developing a luxury hotel and entertainment center on a site in Santa Clara near the 49ers' planned 68,500-seat stadium. The two city-owned parcels in the Silicon Valley city totaling nearly seven acres are north of Tasman Drive near the $937 million stadium project scheduled to open by 2015. In a letter to Santa Clara Mayor Patricia Mahan and the city council, Robert Mezzetti, Montana's attorney, said his client "is interested in working with the city to develop the property into an entertainment location that may include a luxury hotel, sports bar, upscale restaurant and entertainment venue. Full Article
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News: Pacific Northwest Island Sells for $6.4 Million
A remote island around 68 miles north of Seattle was sold this month to a land conservation trust in a deal that values the property at about $6.4 million, well below the $12.5 million price at which it was recently appraised.
The San Juan Preservation Trust says it acquired Vendovi Island using funds provided by three residents of the area who wanted the more than 200-acre property to remain protected from development. The trust declined to identify the benefactors.
Vendovi was sold by a family who has owned the largely undeveloped island for more than 40 years. David Fluke, who represented the family, did not return calls for comment.
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Want More?
If you would like to receive monthly clippings of all Plain Dealer and Crain's articles touching on real estate, just drop me a line at scrawford@everestland.com and we will add you to our email distribution list.
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