A new rule could disqualify certain employers from the Public Service Loan Forgiveness program that are deemed to be engaged in “illegal activities.”

A major Asian investment firm known for its work in the West is pulling back from the U.S. and Europe.
Hong Kong-based Gaw Capital Partners, which has spent nearly $2.5B across U.S. and European real estate, is refocusing on local markets, PERE reported. The firm didn’t immediately respond to Bisnow’s request for comment. 
“Our biggest strength has always been Asia, and so we’re going back to our roots and back to basics,” Chairman Goodwin Gaw told PERE.

Lawmakers and the Manhattan district attorney’s office on Thursday announced a new bill upgrading criminal penalties for tenant harassment. The legislation would create a new class D felony, aggravated harassment of a rent-regulated tenant. Harassment of rent-stabilized tenants is already a class E felony, but the bill would upgrade the charges if landlords harass tenants systematically across multiple buildings or have already been found guilty of the lesser charge.  The new legislation underscores the district attorney’s focus on targeting landlords. The announcement came one day after the indictment of one of New York’s best-known real estate dealmakers, adding Joseph Chetrit […]

This article originally appeared on The Real Deal. Click here to read the full story.

States have sued the federal government to force the release of aid during the shutdown, with a key hearing set for Thursday.

President Trump said China would end its boycott and resume buying millions of tons of American soybeans.

New York’s real estate leaders are already over the 421a replacement. MAG Partners chief executive officer MaryAnne Gilmartin said the 485x program “really needs to be reconsidered,” calling it unworkable for ground-up developers at a Crain’s and REBNY event this week.  “My hope is that we don’t live with this program for a decade,” she said. The 485x incentive, included in last year’s state budget, was designed to revive affordable housing production after the 421a program expired in 2022. But its $40-per-hour minimum wage requirement on projects of 100 units or more triggered a flood of 99-unit proposals across the […]

This article originally appeared on The Real Deal. Click here to read the full story.

Europe’s largest automaker said that a shortage of semiconductors could further hurt productivity.

A large-scale randomized trial of texting therapy concluded that its outcomes were as good as video sessions in treating depression.

New York City residents are voting on half a dozen ballot measures this election season.  One of those is a statewide question about land use in Adirondack Park, the largest publicly protected area in the lower 48.  Technically, the state is seeking a constitutional amendment to allow the use of 323 acres of parkland for winter sports.  However, what the language of the proposal does not say is that the 323 acres have already been developed. The question is whether voters will bring the area into compliance, allow improvements, and approve the purchase of 2,500 acres of forest land to […]

This article originally appeared on The Real Deal. Click here to read the full story.

The highly anticipated event covered a lot of ground on tariff and trade barriers, but questions remain about reaching a lasting accord.