Industry News
New Haven OKs 47K SF Bioscience Building
March 28, 2024 | Reprints | Unlock Link
Life science real estate may be struggling nation-wide thanks to a slowdown in new funding for biotech startups tied to high interest rates, but that’s not stopping one New Haven developer.
Put Your Listings to the Nose Test
By Lew Sichelman | March 28, 2024 | Reprints | Unlock LinkNothing turns up buyers’ noses faster than a smelly house. They walk in, stop, take a whiff and are ready to turn around and leave. Some won’t even go beyond the front door.
Meet Connecticut’s Top Lenders
By James Sanna | March 27, 2024 | Reprints2023 was a tough year for many kinds of real estate lending last year, but banks, credit unions and mortgage companies active in Connecticut put in a strong showing, with some even managing to increase their loan totals year-over-year.
Webster Bank CFO to Retire, Search Launched for Successor
March 27, 2024 | Reprints | Unlock LinkStamford-based Webster Bank announced this week that longtime chief financial officer Glenn MacInnes is planning to retire.
Study: Lots of Amenities the Key Difference in Office Performance
By James Sanna | March 26, 2024 | Reprints | Unlock LinkA new analysis by researchers at commercial brokerage JLL has concluded that a high level of amenities is the key difference between buildings that kept or gained tenants over the last four years, and those that lost tenants.
M&T Branch in West Hartford Fetches $6.9M
By James Sanna | March 25, 2024 | Reprints | Unlock LinkA building housing an M&T Bank branch in West Hartford traded hands last month for nearly $7 million.
Compass Pays $57.5M to Join Commission Suit Settlement
By Alex Veiga | The Associated Press | March 25, 2024 | Reprints | Unlock LinkReal estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions, the company said in a regulatory filing Friday.
The Stars Align for a New Multifamily Development Firm
By Steve Adams | Commercial Record Staff | March 22, 2024 | Reprints | Unlock LinkWhen Lewis Brown proposed an affordable housing development in his hometown of West Hartford, local officials not only supported the project but gave his newly-founded Honeycomb Real Estate Partners firm $3 million to help finance it.
Fed Still Sees Three Rate Cuts in ’24, Fewer Next Year
By The Associated Press | March 21, 2024 | Reprints | Unlock LinkIn new quarterly projections they issued, Fed officials forecast that stronger growth and stubborn inflation would persist, meaning the central bank’s benchmark interest rate will stay higher for longer.
Two Orange Commercial Buildings Sell
March 21, 2024 | Reprints | Unlock LinkA pair of nearby commercial properties in Orange have sold in separate transactions for a combined $2.5 million.
New Haven Homelessness Nonprofit Gets $120K Grant from KeyBank
By James Sanna | March 20, 2024 | Reprints | Unlock LinkLiberty Community Services of New Haven has been awarded a two-year, $120,000 grant from KeyBank, through its foundation, that will pay for new vehicles so the nonprofit can reach the 2,400 people it serves every year.
Powell May Hint at Rate Cuts Today
By Christopher Rugaber | The Associated Press | March 20, 2024 | Reprints | Unlock LinkTwo weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably down. It was a tantalizing suggestion.
Guilford Savings Bank Gave $300K in 2024
March 19, 2024 | Reprints | Unlock LinkGuilford Savings Bank announced its annual charitable contributions last year totaled over $300,000.
Scannell Sells New South Windsor Warehouse
By James Sanna | March 19, 2024 | Reprints | Unlock LinkBoston’s Scannell Properties has sold a warehouse it developed in South Windsor to a Massachusetts-based investor.
Fed Likely to Preach Patience on Rate Cuts
By Christopher Rugaber | The Associated Press | March 18, 2024 | Reprints | Unlock LinkAcross the United States, many people are eagerly anticipating the Federal Reserve’s first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates. Housing developers looking to get shovels in the ground.
Why Are So Many Voters Frustrated by the Economy? It’s Home Prices
By Josh Boak | The Associated Press | March 15, 2024 | Reprints | Unlock LinkAt the root of this problem: America failed to build enough homes for its growing population. The shortage strikes at the heart of the American dream of homeownership – dampening President Joe Biden’s assurances that the U.S. economy is strong.
NAR Settles Commission Lawsuits
By James Sanna | March 15, 2024 | Reprints | Unlock LinkThe National Association of Realtors abruptly reversed course Friday morning, announcing it was settling all lawsuits against it over real estate commissions for a substantially smaller sum than it would have paid under a preliminary verdict announced last year.
Report: Hartford Landlord Fights Landmark Tower’s Foreclosure
March 14, 2024 | Reprints | Unlock LinkAdd another Hartford office tower to the list of those in trouble.
CT Housing Markets Missing Out on Inventory Bump
By James Sanna | March 14, 2024 | Reprints | Unlock LinkNation-wide, a bump in new listings is giving hope to homebuyers and sellers alike. But not in Connecticut’s three biggest housing markets.
Bristol Land Sells for Mixed-Use Project
By James Sanna | March 13, 2024 | Reprints | Unlock LinkA piece of commercial land and a single-family home in Bristol has traded hands so a developer can build a mixed-use project.
