NYC Real Estate News

Mon, 05/17/2021 - 11:00

Paramount Group is planning a $250 million transformation for its soon-to-be-vacant office building at 60 Wall Street. The renovation of the 47-story, 1.6 million-square-foot skyscraper — which was designed by Kevin Roche John Dinkeloo & Associates and opened in 1989 — aims to bring openness to the structure by adding more windows to its lower floors, while updating its ventilation system with MERV 15 filtration, according to the New York Post. The plan, conceived by

The post Paramount Group plans $250M facelift for 60 Wall appeared first on The Real Deal New York.

Mon, 05/17/2021 - 10:49

A high-profile bankruptcy attorney is now in charge of unwinding the real estate law firm of Mitch Kossoff, who vanished last month, leaving clients scrambling to find out what happened to millions of dollars they had entrusted him with. Al Togut, a partner at Togut, Segal & Segal, was last week appointed the interim trustee for the estate of Kossoff PLLC by the U.S. Trustee in Manhattan, Reuters reported. He has overseen restructurings including Enron

The post Trustee appointed to dissolve AWOL real estate attorney’s practice appeared first on The Real Deal New York.

Mon, 05/17/2021 - 10:48
An Assembly bill that could prevent patients from being forced to use mail-order services for specialty drug prescriptions—legislation that has been introduced before—made headway last week. Although...

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Mon, 05/17/2021 - 10:30
NYC Transit employees remove overnight closure signs. Courtesy of MTA on Flickr New York City’s subway system resumed 24-hour service on Monday for the first time in over a year. Last May, Gov. Andrew Cuomo closed the subway overnight as part of a disinfection plan created in response to the coronavirus pandemic. It was the first time the trains closed overnight since the subway first opened 116 years ago. The return of 24/7 service this week comes just two days before most capacity restrictions in New York are lifted and as rates of COVID have fallen across the state. “The subway returning to 24-hour service is a […]
Mon, 05/17/2021 - 10:30
New York’s many mayoral candidates this week are expected to reveal how much money they’ve raised and spent, as the crowded race heats up and breaks records for taxpayer funding. The next...

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Mon, 05/17/2021 - 10:30
Tenants at 776 Crown St. in Crown Heights, owned by one of the city’s “worst landlords,” demand a full repair of the crumbling building (Brooklyn Paper) Five very different scenarios for the future of New York City, including a dystopic “ghost town” and “progressive beacon” (The New York Times...
Mon, 05/17/2021 - 10:00
For JPMorgan Chase & Co., it’s another step toward post-pandemic normal, but for the U.S. financial industry it’s a bellwether. The nation’s largest bank, which often sets norms for the financial...

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Mon, 05/17/2021 - 09:51

Developers who had hoped for potential expansion of Opportunity Zones won’t be getting their way. The Internal Revenue Services announced last week that the boundaries of about 8,700 Opportunity Zones “were established at the time they were designated and are not subject to change,” Bloomberg News reported. Developers and investors had lobbied the federal government to expand the areas where Opportunity Zone investments — and thus, tax breaks — could be claimed after Census Bureau

The post Developers’ attempts to change Opportunity Zone boundaries fail appeared first on The Real Deal New York.

Mon, 05/17/2021 - 09:45
After the murder of George Floyd last year prompted widespread protests, dozens of companies released public pledges to promote racial justice. However, their support of the Black community wasn’t...

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Mon, 05/17/2021 - 09:30
If you've been looking to buy new wood flooring for your NYC apartment or house renovation, you may have been stymied by the current lumber shortage. Supply chain delays caused by Covid-19 shutdowns are creating lengthier-than-usual wait times. Plus you have to line up...