NEW YORK CITY-The budget maintains the property tax rate cut rate of 7% for a second year, and continues the $400 property tax rebate program for homeowners for the fifth year.

NEW YORK CITY-A Lower Manhattan Development Corp. source tells GlobeSt.com that demolition at the 25-story 130 Liberty St. building is progressing to make room for Tower 5.

NEW YORK CITY-The loan is purchased on behalf of Shorenstein Realty Investors Nine LP, a $2.06 billion private commingled fund formed in the spring of 2007.

NEW YORK CITY-The loan is purchased on behalf of Shorenstein Realty Investors Nine LP, a $2.06 billion private commingled fund formed in the spring of 2007.

NEW YORK CITY-Paul Audet will oversee the firm's global real estate and cash management businesses. Ann Marie Petach is named CFO, taking over Audet's previous position.

NEW YORK CITY-The technology company is moving from 160 Pearl St. to the eighth floor at JEMB Realty Corp.'s 33-story 75 Broad St.

NEW YORK CITY-Stonebridge Realty Advisors Inc. and land owner West 37th Street Owner LLC will develop a 220-room select service hotel in the Midtown West market here.

NEW YORK CITY-David Schneck comes from the New York office of Grubb & Ellis, where he served as executive managing director.