Good work if you can get it.
The heads of the Met, the Natural History Museum and MoMA live in tax-free Manhattan housing, on their employers’ dime. From The Times this morning:
In addition to her $877,000 compensation package, Ellen V. Futter, president of the American Museum of Natural History, lives rent free in a $5 million Read More
Despite all that discussion of “green shoots” last year, the real estate finance market remains intractable, according to developer Ron Moelis.
In an interview with The New York Times, Mr. Moelis said that financing development of market-rate projects remains “almost impossible.” Financing for affordable housing projects, on the other hand, is somewhat easier to come by: Read More
There’s apparently some disagreement over Brookfield Properties’ plans to redo its Winter Garden in the World Financial Center—the large light- and palm-tree filled indoor space just west of the World Trade Center site.
DNAinfo has a story today about a back-and-forth between City Planning Commission chairwoman Amanda Burden and Brookfield co-chairman John Zuccotti (a Read More
In addition to getting a request from Deloitte for a $20 million subsidy package Thursday, the city’s Industrial Development Agency is also slated to present a reworked subsidy package for Reuters, which was given up to $26 million in incentives from the Giuliani administration. [Clarified]
In short, Reuters received the $26 million incentive package Read More
For eight months, the primary focal points of my columns have been the “current” attractiveness of long-term borrowing rates, and my concern that the days of low rates are numbered. My last column, in April 2010, quoted and agreed with a New York Times article that forecast an “inevitable rise” in index rates, Read More
The breakneck rise and fall of New York developer Shaya Boymelgreen unfolds like a Gilded Age novel of social ascendance: young man immigrates to ethnic neighborhood in big city; accidentally takes part in Crown Heights riot of historic importance; strikes up fortuitous friendship with Uzbek diamond billionaire who agrees to bankroll his projects; Read More
In one of the biggest commercial mortgage-backed security deals in New York during the Great Recession, the retail condominium portion of the Barney’s flagship store at 660 Madison Avenue will be refinanced to the tune of $100 million. The loan was arranged by Meridian Capital Group, LLC for landlord Flagship Partners LLC, which owns floors Read More
A “living wage” bill is being introduced in the City Council today, led by a set of Bronx elected officials, and the legislation itself is now up on the Council’s Web site.
The bill, dubbed the Fair Wages for New Yorkers Act, would force most every development receiving city subsidies of at least $100,000 to Read More
By the numbers, the California Public Employees Retirement System was burned more than any other by Stuyvesant Town. The fund lost its full equity investment of $500 million.
Now, with the property going through a foreclosure, the local councilman who once criticized the owners wants Calpers to come back.
As part of an effort to Read More
