When the city began its search for developers of a site in the Meatpacking District, the request for proposals encouraged inclusion of an “emerging developer.” Such a developer, the RFP described, had completed fewer than 10 projects in the past decade, each with fewer than 150 residential units, no more than 100,000 square feet and a cost below $30 million.  Still, the developer couldn’t be completely green; they needed some experience finishing projects in New York City or other urban areas. An emerging developer wasn’t a requirement of the project application, but prioritizing a more diverse applicant pool was part […]

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

GFI Group is doubling down on 55 Water Street, a boost for the beleaguered Downtown Manhattan submarket. The brokerage services firm renewed its 64,000-square-foot lease for the entire 10th floor of the 53-story Financial District tower and added another 65,000 square feet on the 11th floor, according to CBRE. The move will allow GFI to consolidate operations from from 199 Water Street, where it has maintained a separate footprint. The firm, which was acquired in 2015 by Howard Lutnick’s GFI Group, has been a tenant at the 4 million-square-foot Class A building since 2007. The asking rent was $59 per […]

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

Treasury Secretary Scott Bessent said migrants were bringing sick cows across the border, snarling beef supply chains.

One of the biggest land listings in the Adirondacks is back on the market after a Texas developer backed out of an eye-popping deal for the property.  Todd Interests walked away from its $125 million contract for the 36,600-acre Whitney Park estate, citing a hard stop in the late owner’s will that forbids selling the land to New York State, the Adirondack Explorer reported. The collapse ends what had briefly looked like a breakthrough.  In recent weeks, the Dallas-based developer floated a 200-year lease of roughly 32,000 acres to the state as a workaround to the terms put forth by […]

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

It could be months before they receive aid, well after the winter period when they talk to their bankers and make decisions about the planting ahead.

SL Green, RXR and New York REIT Liquidating are weeks away from losing Worldwide Plaza to the auction block. The Midtown office’s mezzanine lenders scheduled a UCC foreclosure auction for the property’s controlling entity, Bisnow reported. The public sale of the 1.8-million-square-foot property at 825 Eighth Avenue is slated for Jan. 15. The entity that controls the building received a default notice last September from the owner of $190 million in mezzanine debt, according to a Securities and Exchange Commission filing from New York REIT Liquidating. Ownership is in default of both senior and mezzanine debt as of July, per […]

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

A onetime piece of the Jehovah’s Witnesses’ Brooklyn real estate empire traded hands after a decade that saw it developed into luxury condos. Midtown-based Hubb Properties paid $85 million for 181 Front Street, a 12-story, 105-unit apartment building in Dumbo, Crain’s reported. The sale marks an exit for the Carlyle Group, which took over the site in 2014 for $21.4 million, before the building existed.  The deal breaks down to $810,000 per unit. Megalith Capital assembled the parcel a year before Carlyle acquired it as part of a larger deal with the Witnesses, who spent decades unloading their vast Dumbo […]

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

The National Science Foundation, which is preparing to vacate its custom-built Alexandria headquarters to make way for another federal agency, has found a new home not too far away.

European policymakers are crafting changes to scale back and simplify landmark rules for A.I. and data privacy, in a shift from an aggressive regulatory period.

Manhattan’s luxury market cooled off last week following a burst of dealmaking around New York City’s mayoral election.  Buyers signed contracts for just 25 properties asking $4 million or more between Nov. 10 and Nov. 16, according to Olshan Realty’s weekly report. Though the total was significantly less than 41 contracts in the previous period, the number of pending deals was on par with last year’s weekly average.  Even with the dip, 2025 is shaping up to be the second-best year for the borough’s luxury market since Olshan began tracking deals nearly two decades ago. So far this year, buyers […]

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