NYC’s credit rating on downslide as Moody’s sounds alarm over budget gaps

NYPost.com (Metro) 3/12 4:52A Craig McCarthy

A major debt-rating agency warned investors Wednesday that it may soon to downgrade New York City's credit rating — a major blow to the Big Apple that would trigger increased borrowing costs.

A Michelin-starred chef took over an NYC hospital's kitchen. See what they cook now

NBCNewYork.com (Local) 3/11 8:43P Kay Angrum

Food at a New York City hospital got a gourmet upgrade, with a chef-driven menu featuring dishes like scallops, roasted duck leg and lobster linguine. The dining at Lenox Hill Hospital is part of a larger effort by Northwell Health to redefine...

Moody's lowers city’s credit outlook to negative

CrainsNewYork.com (Banking) 3/11 11:04A Amanda Albright, Bloomberg

Moody's Ratings lowered its outlook on New York City to negative, citing "sizable and persistent" expected budget gaps . The ratings company affirmed its Aa2 rating on the city, the third-highest level of investment-grade. Moody's said the change...

Comptroller Levine says New York City can likely fix fiscal crisis without tax hikes

CrainsNewYork.com (Banking) 3/11 10:50A Jack Grieve

Newly sworn-in Comptroller Mark Levine laid out steps the city can take to get back on sound financial footing — notably, without increasing taxes — at a Crain’s event on Wednesday. "We have the option of finding more efficiencies and savings and...

Wilf family pays $19.2M to Brodsky Organization for Upper East Side development air rights

CrainsNewYork.com (International) 3/11 8:12A Julianne Cuba

The low-profile but prolific real estate family behind Skyline Developers has snatched up more than $19 million worth of air rights to add to its Upper East Side project, records show. Orin Wilf, who founded the Midtown-based real estate firm in...

Upscale French-Vietnamese restaurant Le Colonial set to return to New York

CrainsNewYork.com (International) 3/11 7:37A Julian Nazar

Le Colonial is coming back to New York City. The upscale French-Vietnamese restaurant closed its Midtown East location in December 2019 after a 26-year run. Now Le Colonial is set to open at 50 W. 57th St. in Midtown in the summer of 2027,...

New York’s Maman bakery set to open 25th city location in Dumbo

CrainsNewYork.com (Nonprofits) 3/11 12:33A Julian Nazar

Maman is coming to Dumbo. The New York City-based bakery plans to open in a 6,600-square-foot space at 66 Water St. during the second quarter, according to a news release. Seafood restaurant Seamore's previously occupied the space. This will be...

Legislature’s budget proposals leave health insurance gaps, watchdogs say

CrainsNewYork.com (Nonprofits) 3/11 12:33A Ethan Geringer-Sameth

The state Senate and Assembly’s responses to the governor’s executive budget do not address the expected loss of health insurance coverage for hundreds of thousands of New Yorkers over the next year, budget watchdogs say. The chamber’s so-called...

Mamdani pledged a ‘culture of transparency.' But he's not ready to hand over these gov't records.

NBCNewYork.com (Local) 3/10 11:04P Chris Glorioso

In his campaign for mayor, Zohran Mamdani described a vision for New York City government that would be less of a black box. A City Hall that would be open, accessible, and accountable to regular citizens.  Shortly after he won the general...

RXR pitches Grand Central supertall to JPMorgan clients as company seeks $6.5B in funding

CrainsNewYork.com (Nonprofits) 3/10 10:45A Aaron Elstein

Developer RXR is meeting big clients of JPMorgan tomorrow to gauge their interest in investing in a supertall tower from the real estate firm that could rise next to Grand Central Terminal. The meeting, described as a “field trip” in an...

NYC’s minimum wage could hit $30 — highest in the US — under new proposed law

NYPost.com (Metro) 3/10 8:39A Hannah Fierick

The New York City Council is set to propose a record-breaking $30-per-hour minimum wage bill on Tuesday, which would nearly double the Big Apple's current baseline pay of $17, Gothamist first reported.

FBI finds explosive material in storage unit after 2 men are charged with lighting bombs in NYC

NBCNewYork.com (Local) 3/10 7:46A Jake Offenhartz and Michael R. S

The FBI found explosive materials in a Pennsylvania storage unit after two men were charged with bringing homemade bombs to a protest outside the home of New York City’s mayor.

Op-ed: You can’t deliver economic justice without employers at the table

CrainsNewYork.com (Labor Unions) 3/10 6:03A Gregory J. Morris, Kathy Wylde

Business leaders and nonprofit service providers have greeted the first weeks of Mayor Zohran Mamdani’s administration with cautious optimism, based on key appointments and a relatively smooth transition in management of essential city services....

Gracie Mansion suspects invoked ISIS, tried to use WMDs, per charges

CrainsNewYork.com (Nonprofits) 3/9 10:29A Jack Grieve

Federal prosecutors on Monday charged two Pennsylvania men with attempting to use a weapon of mass destruction and providing material support to ISIS after they allegedly threw improvised explosives at an anti-Muslim protest near Gracie Mansion....

Gracie Mansion attack being investigated as potentially ISIS inspired

CrainsNewYork.com (Banking) 3/9 5:20A Jack Grieve

Authorities are investigating the explosive device attack at Gracie Mansion on Saturday as a possible act of terrorism motivated by ISIS, New York City Police Commissioner Jessica Tisch said at a press conference Monday. Police found two...