Buy low, and sell high. It's as simple as that for Harbor Group International. The Norfolk-based real estate investment and management company announced Wednesday that an affiliate had sold a 1.1 million-square-foot office building in lower Manhattan to two investment firms.

NEWPORT NEWS Residents of Norfolk's East Beach community apparently will have to live with an apartment complex nearby. The Virginia Marine Resources Commission voted 3-2 on Tuesday to overturn a decision by the Norfolk Wetlands Board last month to deny developers a permit to build the East Beach Marina Apartments, which would be built next to the more fashionable East Beach community.

A partnership between two Connecticut-based companies has purchased The Sanderling Resort & Spa in Duck, N.C., according to a news release.

NORFOLK
The deterioration of the Carter's Grove mansion near Williamsburg is far worse than previously revealed.
State historic preservation inspectors have become so concerned about the property that they worry the mansion might explode due to a hazardous condition in the basement.

CHESAPEAKE T.E. Jones knelt and grabbed the open box of drywall screws, printed with the words "Made in America" next to an image of a rippling Stars and Stripes. The homebuilder paid roughly $235 for the box - nearly $200 more than he would spend on a typical box of screws from China.

NORFOLK
On Thursday, the city's Board of Zoning Appeals continued an appeal from the owner of the Travelers Inn motel and will review it at the panel's next meeting in June.
Kapan Enterprises LLC, which owns the motel, is appealing in the hopes of rebuilding at 800 E. Ocean View Ave. Only 16 of 33 units of the motel remain after a fire in February.

Foreclosure filings picked up in Hampton Roads in April as lenders repossessed and auctioned an increasing number of homes with delinquent loans, according to a report to be released today.

These charts track the health of the local housing market. Home sales and prices tend to be seasonal, but these charts show the long-term trend compared with a year earlier. Foreclosures also affect the number of homes on the market and put downward pressure on prices. Sources: Real Estate Information Network, foreclosure information from RealtyTrac.

CHESAPEAKE Despite homeowners' objections that it would crowd schools, increase crime and lower property values, the City Council has approved plans for an apartment complex in Edinburgh, an upscale community in the southern part of the city.

Home sales rose in South Hampton Roads last month and prices ticked up, according to a report released Monday. The Real Estate Information Network, a Virginia Beach-based multiple-listing service, reported that 1,037 existing homes sold last month, up 8.9 percent from March and up 13.6 percent from April 2011.