New York City
State Agency Extends Ground Lease at Battery Park City in $1.5-Billion Deal
The agreement underscores the continued strength of Lower Manhattan’s office market, of which Brookfield Place comprises approximately 10% of inventory.
$3.5-Billion Brooklyn Marine Terminal Plan Clears Major Hurdle
In addition to a revitalized port, the plan passed on Sept. 22 will also create 6,000 new homes—including 2,400 permanently-affordable units—as well as 28 acres of public space.
Norges Bank Investment Management to Acquire 95% Stake in NYC Office Tower for $543 Million
Norges Bank Investment Management will pay $542.6 million for its 95% ownership interest, valuing the property at a gross value of $571.1 million.
SL Green Signs Deal to Acquire 346 Madison Ave. and Adjoining Development Site for $160 Million
The acquisition of the two adjoining properties represents a strategic opportunity to create a best-in-class new building on a prominent development site in the heart of Midtown East.
NYC Pols Cheer Midtown South Rezoning; Plan Could Create Nearly 10,000 New Housing Units
The MSMX plan will also support the garment and fashion industries with a $50-million investment to develop permanent space for the industry…
Related Moving Forward with More Housing, No Casino at Hudson Yards West
Phase 2 of the project—which is valued at $12 billion—will now include 4,000 new homes at the site.
FARE Act Now in Effect in New York City
The FARE Act prohibits brokers who represent landlords from charging broker fees to tenants. This includes brokers who publish listings with the landlord’s permission.
GUEST VIEWPOINT: Transforming Our Empty Offices into Full Homes
For decades, community and state leaders have failed to harness the aspiration and boldness needed to break through barriers and build the future New Yorkers deserve.
Fed. Judge Grants MTA Restraining Order Against Trump Administration in Congestion Pricing Case
The move effectively keeps congestion pricing tolls in effect through at least June 9.
Report: Office-to-Residential Conversions in Midtown Manhattan are Reaching an Unprecedented Level
According to the CBRE report, Manhattan’s supply of properties undergoing conversions have a median age of 68 years.
Court Documents Reveal Congestion Pricing to Remain in Effect Until at Least October
On March 21, Gov. Kathy Hochul and business and transit leaders held a rally in Manhattan and reported that traffic is down and business is up in Manhattan’s Central Business District (CBD).
DiNapoli: NYC’s Solid Housing Growth at Risk as Permits Fall
While growth in the city was faster than statewide growth (6.5%) and metropolitan area growth (7.4%), it lagged the nation’s overall 10.3% rate of housing growth.