Commercial Linkage

Commercial Linkage

Starbucks Expands, Long Island City Trades and the Pod Multiplies

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Commercial Linkage

Lehman Sues Bank of America, As Does Whistle Blower Greg Macklowe.

Bankrupt Lehman Brothes suing to halt sale of remaining stakes in Archstone to Sam Zell. (Bloomberg)

The country’s largest mall operator, Simon Properties, is gobbling up joint venture partner Farallon Capital Management’s interest in 26 shopping malls while also buying a minority stake in French real estate company Kelpierre. (the Associated Press, via NYT)

Whistle blower Gregory Macklowe has filed suit against Bank of America, accusing the financial behemoth of preventing homeowners from snagging mortgage-loan modifications in order to avoid losses. (NYP)

Commercial leasing may be sluggish, but at least the residential brokers are seeing improvements. Indeed, Manhattan’s rental market approached record highs in February, according to data provided by Citi Habitats. (The Real Deal)

Commercial Linkage

JMC Holdings Debuts; Rockrose Says “Uh-Uh” to 570 Lexington Avenue; and “How Many People Can Manhattan Actually Hold?”

The former Tishman Speyers guys behind JMC Holdings get a proper introduction. (Wall Street Journal)

The eternal question “How many people can Manhattan actually hold?” is addressed once and for all. (The New York Times)

Rockrose Development says “no thanks” to $370 million price tag at 570 Lexington. (Crain’s New York)

Recovery Nowhere in Sight, Says Chicken Little. (AGBeat)

Who’s in investors’ crosshairs? Real estate’s biggest tax cheats. (CNN)