A&E Real Estate, one of New York City’s largest private landlords, is facing foreclosure at 1080 Amsterdam Avenue, near Columbia University, after allegedly defaulting on a $29 million loan.  Apex Bank filed suit in Manhattan Supreme Court this week, accusing A&E of missing three months of payments on the mortgage and violating other loan terms, Crain’s reported. Apex is seeking to seize and sell the 20-story, 96-unit tower to recover the $28.3 million still owed, plus interest and fees.  A&E could also be liable for any shortfall if the property’s sale doesn’t cover the debt. The landlord, led by co-founder […]

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The City Council on Wednesday advanced the Long Island City rezoning, which is expected to create 14,700 new homes over the next decade.  The City Council Committee on Land Use and the Subcommittee on Zoning and Franchises voted in favor of the rezoning after the Adams administration promised to invest $1.5 billion in the neighborhood. The project is expected to net 4,300 affordable apartments and 3.5 million square feet of new commercial space.  The Long Island City proposal now heads back to City Planning for review before going to the full Council for a final vote.  The Council made a […]

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A new production company wants to make as many video podcasts and newsletters as films and television shows.

The U.S. central bank is widely expected to cut interest rates for the second meeting in a row even though the government shutdown is obscuring officials’ view of the economy.

His firm, 1789 Capital, has been investing in artificial intelligence and defense technology — and, he said, it has an “understanding” of President Trump’s plans.

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Halloween Adventure, a fixture in Lower Manhattan, has long prided itself on being a place where customers and employees can express themselves.

The wheels are falling off a hotel-to-apartment conversion in Columbus Circle. Lender Parkview Financial filed for Chapter 11 bankruptcy protection at the site of the Hudson Hotel, Crain’s reported. The filing is not expected to affect the residents living at the property, according to Parkview. The lender made the move to give itself a chance to recapitalize the building. It plans to continue pursuing the conversion of the 24-story building into 400 units of rental housing, though it will need to do so without the project’s developer, CSC Real Estate. After CSC dodged a foreclosure in April, Parkview sued the […]

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See how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

Scott Rechler restructured his “digital asset” at 75 Rockefeller Plaza — a major capital overhaul for a building that just three years ago seemed to have solved some of remote work’s challenges. RXR brought in San Francisco-based hedge fund Farallon Capital Management as an investor in the 33-story tower that serves as RXR’s headquarters, sources told The Real Deal. Farallon’s investment values the 627,000-square-foot tower at somewhere between $190 million and $200 million, according to a source familiar with the deal. That figure is significantly below the $260 million in debt that RXR put on the property in 2022, when […]

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