CoStar | # 1 Commercial Real Estate Information Company (original) (raw)
Federal Reserve Chair Jerome Powell announced a long-awaited, half-percentage-point rate reduction.
FRI Investors has a preliminary deal for about $100 million, a fraction of the last sale price.
CoStar Economy
Sentiment diverges among American income groups
The estate is under contract 12 years after it hit the market.
Elevated construction costs are still a concern, a trade group says.
The reduction by 50 basis points in the federal funds rate is expected to spur deals and possibly improve consumer confidence.