Demand from centers that power artificial intelligence has driven up electricity bills, frustrating consumers.
Billionaire developer Stephen Ross’ former penthouse in Lincoln Square just traded for $50.7 million. The latest deal for the condo at 25 Columbus Circle was significantly more than its last purchase price in 2023, when Ross, the chairperson of Related Companies, sold it for $40 million, according to public records. The most recent sale works out to roughly $6,200 per square foot, up from $4,800 per square foot. The apartment, Unit PH80, sold in an off-market deal to a buyer whose identity is shielded by an anonymous LLC registered in Delaware. The seller is also an anonymous shell company. The […]
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Members-only club Soho House has found new funding to take the company private, filings with the Securities and Exchange Commission show.
A storied townhouse’s “tortured” sales process may have an end in sight. The palatial Upper East Side home at 15 East 63rd Street, which once served as famed designer Oleg Cassini’s studio, has found a potential buyer, according to a recent court filing. The attempt to sell the home has been followed closely, not just because of Cassini’s reputation for romancing stars like Marilyn Monroe and Grace Kelly and styling celebrities like Jacqueline Kennedy Onassis, but because of the drama-filled bankruptcy proceedings surrounding the home. But the nearly three-year legal fight over the home appears to be coming to a […]
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The former “Red Square” building in the East Village has a new owner. Atlas Capital Group snapped up the multifamily rental building at 250 East Houston Street for $112 million, The Real Deal has learned. Dermot Company and Rockwood Capital put the 13-story, 130-unit property on the market this fall. The property is perhaps best known for its former life as the “Red Square” building. Developed in the early 1990s by Michael Shaoul and Michael Rosen, the building once featured an 18-foot statue of Vladimir Lenin perched atop the roof — a nod, Rosen once told The New York Times, […]
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The blowback set off by the Justice Department’s criminal investigation into Jerome H. Powell, the chair of the central bank, has shaken up the race to replace him.
Jerome H. Powell, the chair of the Federal Reserve, this week tapped a groundswell of support that has been years in the making.
Developer Mitchel Maidman, who built the 32‑story tower at 556 Third Avenue in New York’s Murray Hill neighborhood, has been ordered to pay a hefty penalty after he was accused of using the property to enrich himself. Maidman’s former business partner, Israeli developer Ofer Resles, alleged Maidman diverted proceeds from the sale of the building’s penthouses into entities he controlled, despite a 50-50 ownership agreement, Crain’s New York Business reported. An arbitrator last month concluded that Maidman’s conduct “smack of self‑dealing” and described his testimony as contradictory and lacking candor. The arbitrator ordered Maidman to pay $22 million in damages. […]
This article originally appeared on The Real Deal. Click here to read the full story.
Michael Saylor’s financial alchemy thrust an ordinary software company, Strategy, into the center of the crypto frenzy. It all worked spectacularly, until now.
The Soviet Union was Cuba’s benefactor for decades. Venezuela took up the slack, and Mexico has supplied “humanitarian aid.” But the world is changing rapidly, our columnist says.