AGP Executive Report
Last update: 4 hours agoAffordable Housing: New York committed $872 million in bonds and grants to create or preserve 2,233 affordable homes statewide. Four Hudson Valley projects will receive $246.4 million, including transit-linked and mixed-income developments. Commercial Property: A private equity firm agreed to buy back Boston’s 100 Summer St. tower at a 68% discount after defaulting on its mortgage, highlighting how lenders and investors are renegotiating troubled office assets. Property Management: Evergrande’s liquidators agreed to sell a controlling stake in its property-management arm to a PAG-backed buyer for about $513 million, with an offer for the remaining shares required. Housing Costs: Mortgage rates remain elevated after recently topping 7%, adding hundreds of dollars to monthly payments for some buyers. Global Markets: Greece’s tax incentives are drawing wealthy newcomers, raising questions about the impact on its prime property market and local residents.
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