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Real Estate

Spotlight: N.Y. has fewer ‘underwater’ mortgages

Some 23 percent of all U.S. residential properties with mortgages were in negative equity as of September 2009, according to a report from First American CoreLogic. Borrowers with negative equity, also described as "underwater" or "upside down," owe more on ...

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Green buildings can mean savings for some–but not all

Gov. David Paterson recently signed into law the Green Building Construction Act, authorizing the Office of General Services to develop green building standards for New York by late 2010. The office will create a climate action plan, which will establish ...

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Despite slump, Ontario County lures homebuyers

Despite a bumpy year for property sales nationwide, the last six months have been good for commercial and residential real estate in Ontario County, one local Realtor says. Andy Griffith, owner-broker of Re/Max Properties in Canandaigua, says the housing market ...

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Home Properties to sell up to 3.7 million shares

Home Properties Inc. may sell up to 3.7 million common shares through an at-the-market equity offering program initiated with sales agents at Merrill Lynch Co. Inc., Pierce, Fenner & Smith Inc. and BMO Capital Markets Corp.

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Order moves portfolio closer to auction sale

A court decision has moved beleaguered Webster real estate investor Jason Palmer’s Encore Property Management of New York LLC a step closer to going on the auction block. The Encore Property Management portfolio is involved in a $52.8 million foreclosure ...

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Real Estate Developers

Real Estate Developers, local area of Monroe, Genesee, Livingston, Ontario, Orleans and Wayne counties; ranked by total local non-residential square footage

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Pittsford real estate firm sees 30% rise in sales

Mitchell Pierson Jr. Inc. Realtors reported sales volume in October was up 30 percent from a year ago. The Pittsford-based firm, which ranked fourth on the Rochester Business Journal’s 2009 list of residential real estate companies, saw a 12 percent ...

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Developers plan 41 high-end units on East Ave. site

A townhouse community for empty-nesters is slated for a 7.5-acre vacant parcel on East Avenue in the town of Pittsford. The site, near Oak Hill Country Club, at one time had been targeted for a high-rise senior living facility. A group ...

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Complex in receivership

The East Avenue Commons apartment complex has been put into receivership. State Supreme Court Justice Kenneth Fisher ordered the 267-unit building, at 111 East Ave. in the city’s upscale East End, put under a receiver’s control Oct. 29. The order ...

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Nothnagle to expand into Buffalo

With the conversion of an existing office in the Buffalo and the opening of an office in the Clarence-Williamsville area in Erie County, Nothnagle Realtors Property Center will open two locations by early 2010.

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Home Properties tops Street expectations for Q3

Home Properties Inc. beat Street expectations by 3 cents a share in the third quarter. Shares of Home Properties stock (NYSE: HME) were up 1.5 percent midday at 41 cents.

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SPOTLIGHT: A slowing decline in home prices

Home prices continued to drop in August, but the rate of decline slowed, according to First American CoreLogic Inc.’s Home Price Index. Nationally, home prices fell 10.1 percent from August 2008 to August 2009, an improvement on July’s year-over-year decline ...

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Trailways shutting down Midtown operation

Trailways, the last tenant left at the Midtown Plaza site, will begin operations Wednesday on Cumberland Avenue, officials announced Tuesday afternoon.

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Midtown Tower project stirs interest in living downtown

Nearly one-third of respondents to this week's RBJ Daily Report Snap Poll say the $71 million Midtown Tower plan and similar projects may entice them to consider living downtown. See dozens of comments from readers.

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Home Properties declares dividend

Home Properties Inc. Wednesday afternoon declared a dividend of 67 cents a share on its common shares for the quarter ended Sept. 30.

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