For months, record rents have been the norm for Manhattan.  December was no different, when median rent for a brokered, market-rate lease in Manhattan was $4,720, the second-highest number on record, according to a new report from Miller Samuel for Douglas Elliman. The number also marks a 9 percent annual increase.  The numbers show that despite flagging mortgage rates and a change in the season, high demand is the dominant force in New York City’s rental market.  “We’re not expecting any relief for tenants in 2026,” said report author and appraiser Jonathan Miller.  The trend in high rents started in […]

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The top executive of the crypto exchange Coinbase scuttled a planned Senate committee vote on a major cryptocurrency bill after voicing his concerns, a sign of the company’s clout.

This week, Bank of America, Citi, JPMorgan and Wells Fargo released fraught earnings reports as President Trump’s threatened cap on credit card rates loomed large.

Legislation to establish a regulatory framework for digital tokens has been thrown into turmoil — by one of its biggest champions.

Bowing to pressure, the company said it would restrict X users from generating explicit images of real people in jurisdictions where such content is illegal.

Landlords and the state comptroller don’t see eye to eye on the city’s $1.2 billion rental voucher system. Landlords say voucher placements are often denied because of small infractions like a cracked outlet plate or a window guard missing one screw. Yet a comptroller’s audit last week warned that vouchers are being approved for apartments with “serious hazards” like a defective window guard and roach infestations. Both sides are correct, but the comptroller needs a reality check. In a program this large, some inspectors will be human and others will be hard-asses. The humans approve tenant placements in units with […]

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New York is taking a crack at reforming its environmental review process.    Gov. Kathy Hochul wants the state to change what projects are subject to the State Environmental Quality Review Act, or SEQRA. As is often the case with the State of the State addresses, Tuesday’s was light on details about this proposal. We’ll probably have to wait until next week, when the governor is expected to roll out her executive budget proposals, to get into the weeds on what she envisions. (Unless someone wants to leak some bill language?)  A spokesperson for the governor indicated that the proposal seeks […]

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There were 222 transactions totaling $717 million recorded in New York City in the 24 hours before 4 p.m. on Wednesday, Jan. 14, 2026. 🏆Residential: The top home sale to hit records in the Big Apple was in Midtown, where a condo at 171 West 57th Street changed hands for $5.8 million. Blue Icarus LLC had bought the pad for 3.3 million in 2020; the unit’s new owner is Tomco Holdings LLC. The four-bedroom condo measures 2,800 square feet. The deal works out to roughly $2,100 per square foot. The seller had first put the unit on the market in […]

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Traders in companies with ties to the president’s eldest son can bet on the outcome of events the president affects.

History suggests that the price of oil and a wider distribution of wealth are as important as foreign investment.