Mr. Musk’s xAI will work with the Saudi artificial intelligence company Humain on a new data center, part of Crown Prince Mohammed bin Salman’s effort to diversify his country’s economy.
The would-be developers of affordable housing at the Elizabeth Street Garden are suing the city, claiming that the mayor illegally dedicated the site as a city park. Pennrose, Habitat NYC and Riseboro, who were tapped in 2017 to build 123 senior housing units on the city-owned site, filed a lawsuit on Wednesday alleging that Mayor Eric Adams illegally designated the site as a city park. The complaint accuses Adams of unilaterally deciding the site’s future use without going through the city’s Uniform Land Use Review Procedure, or Ulurp, which is required to map land as a city park. “Nothing in […]
This article originally appeared on The Real Deal. Click here to read the full story.
The ship had lost contact with its managers while traveling near Iran on its way to Singapore last week. All 21 members of the crew are safe.
Piece by piece, Gary Barnett’s vision for the former Disney campus on the Upper West Side is coming into focus. Extell Development filed plans for a 25-story, 355-foot-tall building at 37 West 66th Street, Crain’s reported. The 231,000-square-foot property will feature 58 residential units and ground-floor retail space, according to the Department of Buildings filing; Extell filed demolition plans for the existing 14-story, 300,000-square-foot building this year. Furthermore, the overall lot is expected to feature 158 residential units, suggesting Extell plans another building for the site. Extell did not respond to the publication’s request for comment. Barnett’s firm has already […]
This article originally appeared on The Real Deal. Click here to read the full story.
The presence of business leaders at a White House event for Crown Prince Mohammed bin Salman underscores a deepening of U.S. and Saudi ties.
The steep tariffs President Trump issued in August led to a significant contraction in imports and the trade deficit, newly released data shows.
Uncertainty over the availability of the Chinese-owned company’s chips, which are used in cars and electronics, had added to concerns of a global shortage.
My colleague Kathryn Brenzel wrote an intriguing article about the Meatpacking District RFP, in which the city sought an “emerging developer” but did not choose one. Instead, the Economic Development Corporation selected a bid by Douglaston Development — a very experienced firm — and “emerging developer” David Himmel, a former COO at the big real estate company Jamestown and scion of a prominent real estate family. Alicia Glen, the former deputy mayor, said as a feminist she found the decision “appalling and disgraceful.” Glen is absolutely right that this was a missed opportunity for the city to help a female […]
This article originally appeared on The Real Deal. Click here to read the full story.
Development buzz is growing on the Greenpoint waterfront. The Jay Group has secured a $320 million construction loan for a 590-unit rental project at 97 West Street in Brooklyn. G4 Capital Partners provided the financing. Henry Bodek of Galaxy Capital brokered the transaction. It’s the third deal between The Jay Group and G4, according to the lender’s co-managing partner Jason Behfarin. “It demonstrates our commitment to our experienced and capable sponsors,” he said. The neighborhood, at the northern tip of Brooklyn, has seen a spate of high-density residential development. The area was rezoned in 2005, allowing for residential construction in […]
This article originally appeared on The Real Deal. Click here to read the full story.
South Florida contractors are among the busiest in the country, with more concerns in the market about too much construction than not enough. That means they’ve had to find ways to finish jobs in a perpetually volatile economic climate.