Our newest list ranks New York's largest commercial real estate brokerages

CrainsNewYork.com (Real Estate) 5/8 5:10A Jack Grieve

New York is home to the busiest commercial real estate market in the world, so it's no surprise that some big names in the business topped Crain's new list of the largest local brokerages. In the inaugural edition of the rankings — based on the...

Desperate to beat Cuomo, mayoral candidates spend heavily to get on the airwaves

CrainsNewYork.com (Real Estate) 5/7 9:08A Nick Garber

Conventional wisdom holds that New York City mayoral races do not really begin until candidates start airing television ads. By that standard, this year’s campaign season is finally underway — giving candidates their best hope yet of taking down...

Big affordable-housing portfolio faces financial reckoning

CrainsNewYork.com (Real Estate) 5/7 8:57A Aaron Elstein

Ten years ago, developer A&E Real Estate bet big on affordable housing in New York. Over a two-year period the Midtown-based firm acquired 3,500 apartments across the city for nearly $800 million and invested another $130 million fixing up the...

City hospital system plans $46M ER upgrade to prep for delayed unit for Rikers detainees

CrainsNewYork.com (Real Estate) 5/6 12:33A Amanda D Ambrosio

North Central Bronx Hospital is planning a $46 million renovation of its emergency department to make space to build a medical unit for Rikers detainees that’s years behind schedule. The Norwood public hospital is seeking to restructure its...

Occupancy falls at New York Hilton Midtown

CrainsNewYork.com (Real Estate) 5/5 8:27A Aaron Elstein

Fewer travelers checked in last quarter at the New York Hilton Midtown, one of the city’s biggest hotels, and the property’s owner could turn unprofitable this year due to a decline in overseas guests. “We’ve got tremendous uncertainty now for...

City’s warehouse crackdown will shift jobs to New Jersey, worsen truck traffic, REBNY says

CrainsNewYork.com (Real Estate) 5/5 7:29A Nick Garber

A city plan to make it harder to build package-delivery hubs would cost New York jobs and tax revenue, while pushing the growing industry to New Jersey, according to an analysis by the Real Estate Board of New York. REBNY is preparing to mobilize...

On Politics: A promising idea for removing corrupt mayors

CrainsNewYork.com (Real Estate) 5/5 6:10A Ross Barkan

It’s becoming apparent that the mechanism for forcing a mayor of New York City from office in between elections does not work. As of now, only the governor can remove a mayor — there is no impeachment process built into the City Charter, and no...

Editorial: A smart step forward for New York’s quality of life

CrainsNewYork.com (Real Estate) 5/2 12:48A https://www.crainsnewyork.com/ed

Mayor Eric Adams and NYPD Commissioner Jessica Tisch have taken an important step toward making New York City a more livable, welcoming place by launching the NYPD’s new Quality of Life Division. This initiative deserves praise — not only for its...

Adams’ surprisingly sunny $115B budget adds spending despite looming downturn

CrainsNewYork.com (Real Estate) 5/1 11:19A Nick Garber

Mayor Eric Adams proposed a surprisingly sunny $115.1 billion budget on Thursday, making new investments to create a universal K-5 after-school program and increase police headcount even as experts urge restraint to prepare for federal aid cuts and...

State to launch homeless outreach centers in subway stations

CrainsNewYork.com (Real Estate) 5/1 8:59A Caroline Spivack

Gov. Kathy Hochul is launching what she described Thursday as a network of 24/7 “welcome centers” in the city’s subway, where health professionals and social workers will connect homeless New Yorkers with shelter options and supportive services. ...

SALT talks stall as GOP mulls limiting tax break to middle class

CrainsNewYork.com (Real Estate) 5/1 8:27A Erik Wasson and Billy House, Blo

Key House Republicans on Thursday discussed ways to direct an expanded state and local tax deduction to those making less than $400,000 as they seek to balance the cost of the tax break with the political needs of several lawmakers from New York...

Spike in applications during NY's spring recess leads to jump in U.S. jobless claims

CrainsNewYork.com (Real Estate) 5/1 7:52A Nazmul Ahasan, Bloomberg

Applications for U.S. unemployment benefits rose to the highest level since February during the week that followed Easter and spring recess at New York City public schools. Initial claims increased by 18,000, to 241,000, in the week that ended...

How far are workers willing to walk to the office? The answer is driving leasing.

CrainsNewYork.com (Real Estate) 5/1 12:33A Aaron Elstein

An invisible border divides the world of Midtown office towers. On the side of the line closer to Grand Central Terminal, many buildings are full of asset managers, law firms and others paying top-dollar rents. On the other side, more buildings...

State's top cannabis companies lost millions in 2024 amidst industry slide

CrainsNewYork.com (Real Estate) 4/30 6:09A John Schroyer

Two New York City-based publicly traded cannabis companies lost millions of dollars last year, joining a national trend of hemorrhaging in the sector as the continued delay of federal legalization eats away at the capital-intensive businesses....

At a Glance: April 30

CrainsNewYork.com (Real Estate) 4/30 12:33A Ethan Geringer-Sameth

CORRECTION: New York City Health + Hospitals’ new contract with Managed Resources includes the same 12% contingency fee as the previous contract. This information was updated in the article , "Health + Hospitals expands contract with outside firm...