President Trump has complained that wealthy countries like Britain pay too little for drugs, leading America to bear much of the burden of the costs of medicines.
Even as Manhattan’s luxury market cooled in the run-up to Thanksgiving, it rang in the holiday with an above-average week. Buyers inked deals for 19 homes in the borough asking $4 million or more between Nov. 24 and Nov. 30, according to Olshan Realty’s weekly report. The total was down from 29 contracts signed in the previous period, but it beat the decade norm of 17 pending deals logged during the holiday week. A sponsor unit at 53 West 53rd Street, asking $23 million, was the priciest to snag a signed contract in the holiday week. The condo spans 3,700 […]
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The end of a tariff exemption on goods worth $800 or less has left some U.S. shoppers with an extra shipping bill that must be paid before delivery.
The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?
New York City is poised to get three casinos. The state Gaming Facility Location Board on Monday recommended that the Gaming Commission award casino licenses to the three remaining proposals in Queens and the Bronx. The proposals include Steve Cohen’s Metropolitan Park, an $8 billion facility planned near Citi Field; the proposed $4 billion complex at Bally’s Golf Links at Ferry Point; and Resorts World’s $7.5 billion expansion of the Queens Aqueduct. The board assessed the proposals based on four different categories, giving the most weight to “economic activity and business development,” which included various factors, including total planned investment, […]
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Access Industries’ Len Blavatnik has plenty of commercial irons in the fire, but was behind a quiet residential deal that has set the Hamptons luxury market ablaze. The Ukrainian-born billionaire was the buyer of 408 Further Lane, Behind the Hedges first reported. The deal closed in late July, but property records showed the buyer identified as a limited liability company named Brise Lontaine. Blavatnik paid $115 million — $13.5 million per acre —for the eight-and-a-half-acre property, marking the largest deal for a single residential parcel in Hamptons history. Combined parcels have sold for a higher price tag, but in terms […]
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At M.I.T., a new program called “artificial intelligence and decision-making” is now the second-most-popular undergraduate major.
What can real estate learn from Rochester? More than you might think. About what not to do, that is. Upstate cities such as Rochester, Syracuse and Utica declined as industry retrenched or moved to the South or overseas. New York City’s large manufacturing base was also gutted, with employment in that sector plunging from 1 million jobs to about 55,000. Yet New York City’s economy grew while its upstate counterparts withered away. Why haven’t upstate cities been able to reinvent themselves as New York City did? X user @PhilSustainable got me thinking that poor land-use policy is a big part […]
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Plus, should you endure a stultifying work life to enable a happy personal life?
Carlos Saavedra was hoping for a repeat. Standing on the roof of a converted multifamily property on Clinton Street in Brooklyn Heights, Saavedra points to a brick building on Sidney Place with a nearly-abutting back lot. He’s planning to do something similar there to the Clinton Street property he converted into a single-family townhouse and hopes to sell for an unnamed — but sure to be astronomical — price. Saavedra, a co-head of developer Eckstrom, says he thinks Brooklyn Heights could use more condos. But the single-family opportunity proved too hard to resist. He’s not the only developer who has started […]
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