Another week has gone by and this week’s Real Estate Roundup has many interesting and shocking stories. In Boston, Harvard Club sells property to pay for lawsuit. Haven’t heard about that? Well you should definitely read on because their wait staff is walking away with a nice chunk of change. Todd English, owner of Olives, is also being sued for not paying rent… again! If you read into this drama you won’t have any reason to be caught for words on your dinner date tonight. You. Are. Welcome.
“Wellington Place, a 137-unit apartment community on 6-acres in Medford, Mass., has been sold to MIREF Wellington LLC for $40 million”
“HFF Inc. said it has arranged a $170 million construction loan for One Channel Center, a 500,000-square-foot office building currently under development by AREA Property Partners and Commonwealth Ventures in the Hub’s Seaport District.”
“Officials broke ground Friday on a $130 million high-rise that will add 240 apartments at the edge of Boston’s Chinatown along the Rose Fitzgerald Kennedy Greenway.”
“The Harvard Club has reached a tentative $4 million settlement with its wait staff over a dispute about tipping, according to a letter the exclusive alumni club sent its members earlier this week.”
“How many lawsuits does Todd English have on his plate? According to theBoston Globe, the magic number is “at least six”! And the latest hits closest to home ”
“Parking lots on the Newburyport, Mass., waterfront could be transformed into a mixed-use development that would include retail and housing.”
“There’s no more space available at Atlantic Wharf, the Hub’s newest office tower on Congress Street.”
“The housing market is gaining strength thanks in part to government programs aimed at helping struggling homeowners, the latest Obama Administration Housing Scorecard released Thursday found.”
“This week in celebrity real estate, Reese Witherspoon listed her Ojai vacation home for sale, and Adrienne Maloof of “The Real Housewives of Beverly Hills,” puts her family home up for sale.”
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“The U.S. housing industry — crucial to any jobs recovery — showed more signs of strength, according to two reports issued Wednesday.”
“One of the goals of your short sale should be to get the lender that holds your mortgage to issue a judgment of “Payment in Full”. Doing so, means that they will accept the sale price of the home as full payment of your mortgage.”
“While this year’s $25 billion mortgage settlement may have eased mortgage litigation in the first quarter, legal activity still remains relatively high, according to a report from Mortgage Daily.”
