NYC Real Estate News

Wed, 05/18/2022 - 08:00
Renovation work and construction continue on PENN 2, a 31-story commercial tower at Two Penn Plaza in Midtown. Designed by MdeAS Architects and developed by Vornado Realty Trust, the project involves the interior overhaul and re-cladding of the 412-foot-tall, 1.61 million-square-foot structure, as well as the construction of a multi-story cantilevering addition. PENN 2 is one component in the Penn District revitalization scheme that calls for the erection and redevelopment of several buildings surrounding Penn Station and Madison Square Garden. Turner Construction Company is the general contractor for the property, which is located along Seventh Avenue between West 31st and 33rd Streets.
Wed, 05/18/2022 - 08:00
The sliver of an island off the Caribbean coast of Honduras has seen its longtime buyer’s market shift to the seller’s side as inventory dwindles.
Wed, 05/18/2022 - 08:00

Seven years ago, 22-year-old Carlos Moncayo was killed when the walls of an excavation pit collapsed on him at a construction site in the Meatpacking District. The general contractor, Harco Construction, was convicted of manslaughter in what was considered a landmark construction safety case. But the Occupational Safety and Health Administration only fined the company $10,000 — the maximum under state law. Lawmakers proposed Carlos’ Law in 2017, raising the maximum fine for companies found

The post REBNY calls for larger fines. Wait, what? appeared first on The Real Deal New York.

Wed, 05/18/2022 - 07:30

UPDATED, April 12, 2022, 1:12 p.m.: Public housing has gone middle class. Billed as “workforce housing,” it mimics a private-sector trend in places where home prices and rents have soared beyond the household budgets of many working professionals, who find themselves locked out of homeownership and hard-pressed to afford monthly rents. Making the market work requires a little government help. “Cities are looking at a broader use of subsidy further up the income scale because

The post Public housing goes middle class appeared first on The Real Deal New York.

Wed, 05/18/2022 - 07:30
New renderings from Architecture Plus Information reveal lush amenity spaces and exterior enhancements at 780 Third Avenue, a 50-story office tower in Midtown East, Manhattan. Nuveen Real Estate, the current owner of the building, has invested roughly $40 million to create what it calls a "green oasis" for new and existing tenants.
Wed, 05/18/2022 - 07:30
More than half of the city’s Asian-run outlets reportedly suffered revenue losses of 75% or more lost year

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Wed, 05/18/2022 - 07:15
It marks the first time since 2009 that a majority of shareholders declined to back the firm’s proposed compensation package

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Wed, 05/18/2022 - 07:00
Permits have been filed for an eight-story residential building at 608 East Fordham Road in Belmont, The Bronx. Located between Arthur and Hughes Avenues, the lot is closest to the Fordham Road subway station, serviced by the B and D trains. Vijay Gogia of Sky Blu Holdings LLC is listed as the owner behind the applications.
Wed, 05/18/2022 - 07:00
A Queen Anne Revival house in Hinsdale, a two-bedroom condo unit in Washington and a 2016 home in Phoenix.
Wed, 05/18/2022 - 07:00

UPDATED May 18, 2022, 12:30 p.m.: A decade-old deal to build out a large retail space in the heart of Times Square landed Jeff Sutton with both a lucrative addition to his portfolio and a new enemy: an investor who claims the billionaire Wharton Properties founder cheated him out of millions. Investor Norman Rappaport claims Sutton defaulted on a $15 million loan Rappaport provided him in 2011 to buy the landmarked I. Miller Building at

The post Investor claims Jeff Sutton cheated him out of millions on Times Square deal appeared first on The Real Deal New York.