Developers might get an extra four years to complete projects that were in danger of losing a property tax break that some call essential to getting financing. As part of her executive budget released Wednesday, Gov. Kathy Hochul proposed extending the construction deadline for New York City projects grandfathered under the now-expired 421a program. Developers raced to qualify for the tax exemption by completing foundation elements by June 15, 2022, but still need to finish
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A suggested relief package includes $300 million in one-time state funding
The budget proposal, released Wednesday, offers few details on future incentives for developers
The governor's budget, released today, does not propose a specific replacement program
Its co-founders describe the platform as LinkedIn meets TikTok meets MasterClass
The company says its Fifth Avenue and Times Square properties have fallen in value by 30% since 2019
James Dolan’s MSG Entertainment plans to keep the iconic arena right where it is, despite calls to overhaul the transit hub underneath. The Garden told city officials he would seek a permanent special permit to keep the Garden operating at 4 Pennsylvania Plaza, the New York Times reported. The arena’s 10-year special permit is due to expire in July. Chief executive Dolan has been down this road before, as 2,500-seat arenas in the city require
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Leading up to Hochul's decision, providers worried the bill, which would expand the damages recoverable in wrongful-death lawsuits, would increase costs for health care organizations
Stefan Soloviev isn’t going it alone in the hunt for a casino in Manhattan. Mohegan is joining the Soloviev Group’s bid for a casino license in Midtown East, the New York Times reported. The casino and resort operator is joining other household names in entertainment like Wynn Resorts and Caesars, which have teamed up with some of the biggest names in New York City development angling for one of three licenses. Soloviev’s plans for a
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