W construction lender belly up

W Residence Kitchen Model

It’s been known for some time that the W Hotel and Residences’ construction lender was in financial trouble. What was uncertain was how it would impact the project. The ABJ recently reported that the W is now actively a replacement lender for the $170MM that bankrupt Corus bank will be unable to fund. Stratus was in a development agreement with Magic Johnson’s “Canyon Johnson Urban Fund” to develop the $300MM hotel and condos which was to include numerous restaurants, such as a new concept by local chef Tyson Cole of Uchi, as well as the new ampitheatre venue for Austin City Limits which has been housed in the Communications building at UT for the past 40 years.

Read the ABJ article here.

Current & Recent Listings

1402 Gorham

Recent construction in the Enclave at Gracywoods. Shopping and restaurants nearby at the Domain. Biking and hiking trails at Walnut Creek Park within walking distance.Date: Nov 21, 2011Number of Photos in Album: 29View Album

Pedernales Lofts 2401 E. 6th # 4066

Corner unit 1 bedroom loft overlooking downtown Austin. High ceilings, walls of windows, covered parking, communal garden and walking distance to commuter rail stop.Location: 2401 E. 6th St. # 4066 Austin, TX 78702Date: Jul 26, 2011Number of Photos in Album: 26View Album

5306 Halwill

Charming mid century modern home in Windsor Park. 3 beds, 2 baths, spacious kitchen and sunroom. Spacious backyard with detached garage and woodshop. Only 2 blocks to the shops at Mueller, restaurants and Bartholomew Park.Date: Jul 21, 2011Number of Photos in Album: 28View Album

Real Estate Headlines from the NY Times

Big Deal: Large Egos, Small Screen February 10, 2012

There is something emotionally charged about the buying and selling of New York high-end real estate. How else to explain the juggernaut of reality TV shows about high-end brokers?

By ALEXEI BARRIONUEVO

The Hunt: The Hunt - Trading a Mountain View for an Urban View February 10, 2012

After 30 years of marriage, Sharon and Michael Newman decided it was finally time to move from the Catskills to New York City.

By JOYCE COHEN

Living In | Kissena Park, Queens: Kissena Park, Queens/Living In - Flushing Has Its Very Own Time Capsule February 10, 2012

On blocks near Kissena Park streets are quiet, houses are small, and the electricity that charges the atmosphere in downtown Flushing is nowhere to be found.

By JAKE MOONEY

City Room: Big Ticket | Sold for $11,000,000 February 10, 2012

A five-story, seven-bedroom house in Brooklyn Heights has sweeping views of New York Harbor and the Manhattan skyline.

By MARC SANTORA

The Early Bird