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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.