Commercial Real Estate Financing News + More: Feds Offering Controlling Interest in 500,000-SF International Trade Center + MORE 11/08/2016

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Tax Returns versus Stated Income!

Most traditional banks will require several years of tax returns in order to qualify for a commercial real estate loan. The alternative is to use a Stated Income lender that does not verify personal income or assets. Many borrowers will simply not qualify for a commercial mortgage loan if tax returns are used due to high business expenses (and low net income). Many lenders using tax returns will also continue to verify income after the loan closes. Stated Income lenders will not engage in this practice.

Wall Street, like the rest of America, is nervously waiting for the wild and crazy 2016 election season to finally come to a close.

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Hogan Lovells, a multi-national law firm, has signed a lease for 206,720 square feet at 390 Madison Ave. in New York City.

The 32-story, 4-Star office building totals 862,154 square feet on 1.1 acres in the Grand Central submarket of Midtown Manhattan, between 46th and 47th Streets, and is currently undergoing re-massing and redevelopment…

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Clarion Partners, on behalf of a separate account client managed by the firm, has sold the eight-building Greenwich Office Park in Greenwich, CT for $130 million, or about $344 per square foot, to Fareri Associates.

Located at 1 – 9 Greenwich Office Park, the portfolio totals 377,939 square feet of recently-renovated, class A office space in the Greenwich submarket of Fairfield County, in close proximity to the Greenwich train station, I-95, and…

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It’s unlikely any of us will ever paint like Picasso, but it’s getting easier to at least mimic his style.

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Donald Trump ended his campaign the same way he began: By lambasting the journalists who cover him.

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The U.S. General Services Administration (GSA) National Capital Region (NCR) has issued a Request for Proposals (RFP) for a private sector company to take a controlling leasehold interest and run the International Trade Center (ITC) portion of the Ronald Reagan Building.

The RFP covers the 500,000-square-foot ITC space within the larger 4 million-square-foot Reagan Building at 1300 Pennsylvania Ave…

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