Real Estate
 

Op-ed: Today's 5G expansion is the key to tomorrow's New York City

CrainsNewYork.com (Real Estate) 5/24 7:03A Julie Samuels , Nick Colvin
Hype about 5G-enabled technologies changing the world began long before 5G rollout: augmented reality would blur boundaries between physical and digital spaces, connected cars would end traffic jams, and our toasters would talk to our...

City's tourists fuel record $4.9B in tax revenue

CrainsNewYork.com (Real Estate) 5/24 6:15A Mark Schoifet, Bloomberg
New York City’s tax revenue generated by tourists has surpassed prepandemic levels as a jump in domestic visitors helped offset a drop in international and business travel. Last year 62.2 million people visited the Big Apple, state Comptroller...

MTA looks to modernize fare gates to get more riders to pay

CrainsNewYork.com (Real Estate) 5/24 1:03A Michelle Kaske, Bloomberg
New York City transit officials are looking to modernize fare gates as part of a long-term plan to deter riders from skipping the fee, a problem that’s expected to cost nearly $800 million this year on subways and buses. The Metropolitan...

At a Glance: May 24

CrainsNewYork.com (Real Estate) 5/24 12:33A Amanda D Ambrosio
DRUG TRAFFICKING: The federal government awarded $15 million to New York and New Jersey’s High Intensity Drug Trafficking Area program, a group of law enforcement agencies tasked with seizing illicit drugs and reducing crime tied to drug...

Bill to expand reimbursement for mental health treatment honors Michelle Go

CrainsNewYork.com (Real Estate) 5/24 12:33A Amanda D Ambrosio
A bipartisan duo of New York lawmakers introduced federal legislation on Thursday to expand the number of inpatient psychiatric beds covered by Medicaid, an attempt to increase access to treatment during a national mental health crisis....

Hochul directs $30M to open 109 new psych beds in community hospitals

CrainsNewYork.com (Real Estate) 5/23 7:49A Amanda D Ambrosio
Gov. Kathy Hochul allocated more than $30 million to build 109 inpatient psychiatric beds at community hospitals, state mental health officials said Thursday, moving closer toward her goal of reinstating New York's inpatient mental health...

Court resurrects lawsuit against Local Law 97

CrainsNewYork.com (Real Estate) 5/23 7:12A Caroline Spivack
A state appeals court has revived a lawsuit that seeks to overturn a city law aimed at slashing carbon emissions from buildings. The legal challenge is a potential complication for the Adams administration as the city prepares to enforce the...

Fortunes diverge for Park Avenue office landlords

CrainsNewYork.com (Real Estate) 5/23 12:48A Aaron Elstein
For office owners north of Grand Central Terminal on Park Avenue, it feels like the best of times. The bankers who occupy many of the buildings there have returned to work, an act of solidarity with landlords to whom they’ve written billions of...

Developer files plans for affordable housing at H+H clinic site in the Bronx

CrainsNewYork.com (Real Estate) 5/23 12:33A Amanda D Ambrosio
L+M Development Partners filed plans this week to build affordable housing on a Bronx site owned by New York City Health + Hospitals, furthering city efforts to develop public hospital land to address its dire housing shortage. The project at...

Jemal family looks to construct big Gravesend mixed-use development

CrainsNewYork.com (Real Estate) 5/22 8:38A Julianne Cuba
A prominent New York City developer whose family founded the now-defunct electronics retail chain Nobody Beats the Wiz is looking to construct a 9-story, mixed-use building in Gravesend. Joseph Jemal, president of Manhattan-based ICER Properties...

Op-ed: Getting rid of the last traces of the city's Cabaret Law

CrainsNewYork.com (Real Estate) 5/21 10:20A Keith Powers, Chi Osse, Erik Bot
New York City is famously the city that never sleeps. Take a walk through the East Village at night and you’ll have no shortage of places to eat, drink, dance and enjoy a fun time with your friends. That’s the beauty and attraction of our city....

City pension plan invests $60M in affordable housing fund

CrainsNewYork.com (Real Estate) 5/21 10:14A Aaron Elstein
One of the city’s largest pension funds has invested $60 million in rent-regulated housing loans along with the nonprofit Community Preservation Corp. and real estate giant Related Cos., a move that officials said will help keep 35,000 units...
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