A partnership between a members-only club and Michael Shvo was intended to elevate the status of his buildings. Instead, it has been the source of a continuously escalating legal battle pitting the clubs against the developer and his investors — a battle that now includes allegations of racketeering.
While the sweeping rezoning in Long Island City grabbed the spotlight at yesterday’s City Council meeting, an Elmhurst development scored a quieter win of its own. The council on Wednesday approved the rezoning from manufacturing to residential of 78-01 Queens Boulevard, where Andrew Esposito’s Apex Development Group plans to replace a bank and parking lot with a 314-unit mixed-use development. The plan drew heavy criticism at the community board level, where more than 30 members voted against it. The proposal ultimately passed after negotiations with council member Shekar Krishnan, who pushed for deeper affordability and community amenities. “Doing nothing in […]
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He spent almost two decades at the network, covering a wide range of court cases and the White House. He was also at the center of a defamation lawsuit over “pink slime.”
The longest federal government shutdown in history ended Wednesday evening.
The short-term spending bill Congress passed means federal workers can return to work, receive back pay and, for many of them, avoid losing their jobs before the holidays. Thousands of layoffs initiated over the past month and a half were rescinded as part of the deal, while future workforce reductions have been paused through the end of January.
For the rest of the population, it means federal food assistance benefits will resume, flights will shift back to normal scheduling, and government services will open back up.
In the D.C. region, where economic success is closely tied to…
Brooklyn real estate investor Sanford Solny is headed to prison for a years-long deed theft scheme that stripped homeowners — many of them immigrants and people of color — of their properties. Solny, 68, was sentenced Wednesday to up to seven years behind bars after being convicted in June on 17 counts, including grand larceny, scheme to defraud and criminal possession of stolen property, the New York Times reported. The ruling caps a case that became a flashpoint for New York’s growing fight against deed theft, a form of property fraud. Brooklyn Supreme Court Justice Danny Chun ordered that 11 […]
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Brooklyn Councilmember Crystal Hudson appears to have been caught with real estate cash. A leading contender in the New York City Council speaker race, Hudson took campaign cash from real estate players while publicly pledging not to, the New York Daily News reported. Her campaign then quietly deleted the promise from her website. Hudson’s Council campaign accepted donations from developers and lobbyists with active business before her office, filings show, even as her website declared she wouldn’t take money from “for-profit real estate developers” or “lobbyists who represent real estate.” The disclaimer, visible from 2021 through August 2024, was scrubbed […]
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More than 3,000 workers who make fighter jets and weapons in the St. Louis area have been on strike for over three months.
Ford Motor Co. announced a makeover that could span its 9,000 dealerships worldwide to emphasize hospitality and convenience over sterile, intimidating spaces.
The Signature 2.0 concept is meant to make locations more welcoming and create a more streamlined experience for consumers from the website to the showroom.
“It can be intimidating going into a dealership. … It’s not as comfortable as going into an Apple Store, as an example,” Ford Chief Dealer Engagement Officer Elena Ford told the Detroit Free Press. “So this ‘hospitality first’ was something that really came out of, not just talking to customers, but benchmarking other industries.”
The makeover…
Multifamily construction activity in New York City is contending with record lows — but could be showing some signs of life. The third quarter of 2025 saw the lowest number of multifamily construction starts in the city since 2011, according to CoStar data shared with The Real Deal. Only 894 units began foundation work last quarter. However, the number of units proposed by developers surged in the same period, according to separate data from the Real Estate Board of New York published Wednesday. Developers filed permits for 11,746 multifamily units in the period, a 69 percent increase from the prior […]
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Rents are softening across the country. But New York City is not the rest of the country. Rent in the city stayed elevated in October despite expected seasonal trends and cooling mortgage rates. Median rent for a new, brokered, market-rate lease in Manhattan was $4,600 in October, according to a monthly report from appraisal firm Miller Samuel for Douglas Elliman. That was a $50 increase from September, but a 7 percent increase year-over-year. Although rents have come down across the country, New York City rents have been buoyed by a strong local economy, said report author Jonathan Miller. Rents that […]
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