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The expiration of the 421-a tax subsidy program often used by apartment developers in New York is expected to severely impact the volume of apartment units that get developed in the city. One study predicts a 20 percent decline in ...
New York City has launched a program designed to incentivize owners of office buildings in the southern half of Manhattan to renovate them. Two city agencies, the Economic Development Corp. and the Industrial Development Agency, launched what they call the ...
The Real Deal A special referee appointed by a New York Supreme Court judge has ruled in favor of the CMBS trust that holds a $33 million loan against the 155-room Distrikt Hotel in midtown Manhattan. The special referee, John ...
Crain's New York Business New York City government officials are itching to develop a program to replace the now-expired 421-a tax abatement, which had provided tax breaks to developers for including affordable units in their apartment projects. A stumbling block ...
The Real Deal Tutor Perini suffered an $83 million loss after a lengthy legal battle over the retail and transit hub at the George Washington Bridge Bus Station in Manhattan's Washington Heights neighborhood. The Los Angeles construction company, which is ...
Crain's New York Business New York City's Rent Guideline Board, which oversees the rates charged at the city's rent-stabilized apartment units, has suggested allowing property owners to increase rates under two-year leases by 16 percent and one-year agreements by 8 ...
The Real Deal The CMBS trusts that hold $151.73 million of debt against Chicago's Civic Opera Building, a 911,627-square-foot office property, have filed suit against Michael Silberberg as a guarantor on the loan. Silberberg heads Berkley Properties, which owns the ...
New York Post The Good Cause Eviction Bill winding through the New York state legislature would cap annual rent increases at New York City apartments at the greater of 3 percent or 1.5 percent of the increase in the Consumer ...
Crain's New York Business East Rutherford, N.J., has sued Triple Five Group in an effort to recover what it says is $7.5 million in payments the developer of the American Dream shopping and entertainment complex owes. The massive property, which ...
New York Post Manhattan's famous Flatiron building, at 175 Fifth Ave., will be offered at an auction on March 22 in order to settle a dispute among the 121-year-old building's owners. A group that includes Sorgente Group, GFP Real Estate ...
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© 2023 Commercial Real Estate Direct All rights reserved..