David Bistricer turned a temporary situation at Tower 77 in Greenpoint into a permanent flex on the neighborhood’s booming multifamily market. Clipper Equity scored $450 million in permanent debt to refinance the 746-unit complex at 77 Commercial Street in the Brooklyn neighborhood, according to the Commercial Observer. JPMorgan Chase provided the financing, converting last year’s $430 million bridge loan into a five-year term. The debt deal was first reported by Commercial Real Estate Direct. Iron Hound Management’s Rob Verrone arranged the deal, which came about as the property stabilized with nearly 95 percent leased, according to Bistricer. There are two […]

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It was a pretty tight race to claim the title of largest office lease in New York City by square footage last month – six of the ten leases passed the six figure mark, with just a 4,000 square foot difference separating first and second place. The tenants themselves are a healthy mix of tech companies, law firms and plenty of financial services providers. Read on to find out where each lands on the list. 1) Rippling | 330 West 34th Street | Penn Plaza | 133K sf The workforce management platform inked a new 10-year lease in the Penn […]

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More than 60,000 square feet of exercise space is coming to NYC from last month’s top two retail leases alone, as a fitness brand and an indoor golf center top of the list. Other entries further down the list showcase a ballet studio, a luxury designer, and a few new eateries. Read on to see just how the largest retail leases of November stack up. 1) Chelsea Piers Fitness | 135 East 57th Street | Plaza District | 47,000 sf The wellness studio franchise signed a new lease in the Plaza District building owned by TF Cornerstone. The two companies […]

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Everyone knew the switch from 421a to 485x would mean fewer large multifamily projects. Turns out, it’s not as bad as expected. It’s worse. The new tax abatement has not merely reduced the number of mixed-income projects with 100 or more units. It has eliminated them. Since the state enacted 485x in April 2024 with a wage floor for projects with 100 or more units — at the behest of construction union leader Gary LaBarbera — exactly zero such projects have registered for the program. Fourteen of the 180 projects seeking the abatement would have exactly 99 units, but the […]

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The president seemed poised for a big Supreme Court win letting him remove officials without cause. But the justices appeared to struggle with how to insulate the Federal Reserve from politics.

A veteran of the Metropolitan Transportation Authority is keeping it moving.  Patrick Killackey, the deputy director of strategic initiatives at New York City Transit, found a buyer for his Brooklyn Heights townhouse asking almost $7 million, according to Compass’ report on contracts signed in Brooklyn for homes asking at least $2 million from Dec. 1 to Dec. 8.  The contract for his home at 40 Orange Street was the top contract signed in the borough last week.  Killackey, who previously worked as a deputy chief at the MTA, bought the home for $4.5 million in 2015, according to public records.  […]

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President Trump’s move fulfills a major goal of the chipmaker. But the move faces opposition in Washington — and uncertainty in Beijing.

The real estate industry spent millions of dollars trying to prevent Zohran Mamdani from becoming mayor. The effort failed.  Meanwhile, some working in the industry made comparatively modest donations to Mamdani’s campaign.  The latest campaign finance filings show that after the election, some of those donors and others in the industry contributed to the mayor-elect’s transition efforts, giving at least $40,900 between Nov. 5 and Nov. 30. That represents less than 2 percent of the $2.6 million Mamdani took in during that time.  Representatives for Mamdani indicated that donations through Dec. 5, which go beyond the city’s filing period, have […]

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President Trump said Nvidia can export some chips. But years of U.S. restrictions have propelled China to make everything it needs for advanced A.I.

There were 288 transactions totaling $1.1 billion recorded in New York City over the 24 hours before 4:00 p.m. on Monday, Dec. 8, 2025. 🏆 Residential: The top recorded home sale in the Big Apple was in Tribeca, where a trust offloaded a condo for $21 million. The buyer of the unit at 70 Vestry Street was Vestry Partners II LLC. The seller had owned the unit since 2023, purchasing it for $16 million. The 3,200-square-foot pad has four bedrooms, four and a half baths, a parking spot and a storage unit. It went on the market for $22.5 million […]

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