The forecasts will offer a glimpse of the path for policy at a highly uncertain moment for economy — and the central bank.
The end of Jerome Powell’s term as Fed chair will give President Trump his biggest opportunity yet to reshape the central bank.
Scott Rechler is no stranger to enormous office-to-residential conversion projects in Manhattan. In the Financial District, however, the developer is trying something very different. RXR filed plans this week to convert part of 61 Broadway into housing, the New York Business Journal reported. The plans were submitted to the Department of Buildings on Monday. Rather than transform the entirety of the 670,000-square-foot office property, RXR plans to redevelop only a single floor of the building. The ninth floor will spread 21 apartments across 20,000 square feet of residential space, along with a bike room and a lounge. CetraRuddy Architecture will […]
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David Werner is buying another office property at a bargain basement price. The thrifty investor is in contract to buy the 50-story One Dag Hammarskjöld Plaza tower for $270 million, The Real Deal has learned. The deal is expected to close early next year. That’s about half of the $566 million price tag that seller Rockpoint Group paid for the Midtown East office tower in 2019, and adds to the list of deeply discounted office buildings that Werner’s snapped up in recent years. That includes the Hudson Yards-area office building at 440 Ninth Avenue he bought in August for $105 […]
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He replaces John Dickerson and Maurice DuBois in one of the most high-profile decisions of Bari Weiss’s early tenure as the network’s editor in chief.
At first glance, architects had a banner year this year. The number of permits filed for many of the city’s top architects doubled or even tripled from last year. The incumbent top architect, Nikolai Katz, had his filings explode to 61 this year from 15 last year. But dig a little deeper, and the numbers show a different phenomenon — one that appears to be entirely driven by the city’s affordable housing tax abatement, 485-x, which was rolled out in April 2024. The abatement requires projects building over 99 units to pay construction workers the prevailing union wages, resulting in […]
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Writing under a pseudonym, Madeleine Wickham cultivated an international following for her series centered on a young woman addicted to shopping.
New Yorkers who own real estate — even a single townhouse — might be headed over a cliff. I’m talking about the estate tax. If a New Yorker with a net worth of up to $7,717,500 dies in 2026, the first $7.35 million is not taxed by the state. But if an estate is worth more than 5 percent above that exclusion threshold, the entire estate is taxed. Tax professionals call that a cliff. New York’s estate tax rate starts at 3.06 percent and rises quickly, topping out at 16 percent for estates worth more than $17.25 million. People worth […]
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The central bank is widely expected to lower its benchmark lending rate on Wednesday. But investors are worried about what comes afterward.
Caught between Beijing and the Trump administration, the International Monetary Fund offered mild criticism of China for relying too heavily on exports.