NYC Real Estate News

Fri, 01/17/2020 - 17:05

 The Treasury Department’s investigation into the Opportunity Zone program will weed out the bad apples but won’t derail the federal tax incentive initiative, investors and developers say. Instead, the probe could provide a way for companies with Opportunity Zone funds to promote the social impact of their investments, and could push to strengthen reporting requirements on those investments. “The more that’s cleaned up the better the program is going to do in the long term,” said

The post Opportunity Zone investigation won’t derail developer investment, experts say appeared first on The Real Deal New York.

Fri, 01/17/2020 - 16:30

You almost had to feel sorry for the ushers wielding chimes and dimming the lights. At the Real Estate Board of New York’s 124th annual gala, the biggest names in real estate converged on the Hilton in Midtown to nurse wounds from a year of bruising political fights and a lackluster market. “This year, it’s the remorseful ball,” said real estate attorney Adam Leitman Bailey, who recently finished a roughly five-month suspension from practicing law.

The post Reflection, resentment and some remorse: Real estate’s mood at the REBNY gala appeared first on The Real Deal New York.

Fri, 01/17/2020 - 16:00

Broadway Stages is bringing another movie production studio to Long Island City. The film and TV production company plans to convert 45-10 19th Avenue, currently a food production facility, into a 30-foot-tall studio, doubling the height of the existing structure there, according to an application filed with the city’s Department of Buildings. Broadway Stages is planning a vertical and horizontal expansion of the two-story building, with additional construction floor area of almost 23,500 square feet,

The post Broadway Stages plans another LIC film studio appeared first on The Real Deal New York.

Fri, 01/17/2020 - 15:30

Nearly five years after a gas explosion in the East Village killed two people and injured 20, the landlord and two contractors have received prison sentences for their role in the incident. Maria Hrynenko, who owned the building at 119-121 Second Avenue, contractor Dilber Kukic, and plumber Athanasios Ioannidis were sentenced to four to 12 years in prison Friday, the New York Daily News reported. The three had run an illegal gas line to the

The post $24K in rent set in motion the fatal 2015 East Village blast. Prison now looms for the landlord and contractors appeared first on The Real Deal New York.

Fri, 01/17/2020 - 14:49

Bank OZK, which has been behind some of the largest condo loans in New York and Miami, reported a drop in fourth-quarter net income and reported the rating on one of its loans had been downgraded. The Arkansas-based bank’s stock fell 5 percent shortly after news of its earnings was released Friday morning. Bank OZK’s earnings are closely watched since they are viewed as an indicator of the condo market and the demand for large-scale

The post Condo lender Bank OZK reports lower profits in Q4 appeared first on The Real Deal New York.

Fri, 01/17/2020 - 14:12

For the second year in a row, Gov. Andrew Cuomo and Mayor Bill de Blasio snubbed the biggest real estate event of the year. Neither made an appearance at the Real Estate Board of New York’s 124th annual banquet Thursday night. Their absence was perhaps not surprising — they didn’t attend last year’s event and were at the center of some of the real estate industry’s biggest losses last year. Cuomo failed to intervene in

The post Politico shows and no-shows: What public officials attended the REBNY gala? appeared first on The Real Deal New York.

Fri, 01/17/2020 - 14:00
Taxi medallion owners who have been struggling to may finally be getting help. In addition to a City Council proposal to buy up loans at marked-down rates and pass along the savings, a New York...

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Fri, 01/17/2020 - 13:57
Photos by Tory Williams, courtesy of The Sill Cobble Hill got a little more green with the opening of The Sill‘s first brick-and-mortar in Brooklyn (they also have a recently opened kiosk at City Point). The outpost at 195 Pacific Street features an apartment-friendly collection of succulents, cacti, and tropical plants that can be potted in the store’s own line of planters or purchased on their own. And to make it easy for newbies, each plant has straight-forward labels that you know how much sunlight and water it needs, as well as if it’s pet-friendly. Photos by Tory Williams, courtesy […]
Fri, 01/17/2020 - 13:41