My Affordable Real Estate

In a slow but steady revival, a former steel-making city gives its historical buildings new life as models of energy efficiency.

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In Manhattan, rents in Midtown’s less well-heeled office buildings have fallen more than 23 percent in the past year, to $48.74 a square foot a year.

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The rout in public real-estate stocks continued unabated in the first three months of 2009.

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Spain’s real estate market has suffered in the global recession, but for unique homes with historical appeal, prices have taken less of a hit.

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The noose is tightening around Brixton, the U.K. real-estate investment trust, as it scrambles to raise cash to avoid a breach of its debt covenants.

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Among the real-estate executives losing the most sleep are developers who are finishing up projects who need to take out construction financing with longer-term mortgages.

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Boston’s John Hancock Tower was sold in a foreclosure auction for $660.6 million, half the price paid by Broadway Partners three years ago for New England’s tallest building.

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Few skyscrapers were as admired in the 1920s as the Shelton Hotel, at Lexington Avenue and 49th Street, where Houdini once performed a stunt.

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Narrow streets lined with bungalows, like these on King Avenue, crisscross City Island. The island has about 1,500 detached houses and fewer than a dozen apartment buildings.Floating off the eastern coast of the Bronx, City Island shares some of the same problems felt throughout the big city but retains a warm villagelike atmosphere.

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For $15 more a month, Erika Allen and Clark Hassler were able to go from a studio to a one-bedroom, which means no more shoes over the refrigerator. Rents are falling in New York City. Some tenants are trading up. Others are paying less for similar space.

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