It would be an understatement to say there’s little optimism that Albany lawmakers will do something good for real estate this session. Killing the 485x wage rules would create thousands more apartments, but it’s hard to imagine Gov. Kathy Hochul and others defying construction unions — who basically wrote the rules — in an election year. With the governor and everyone else focused on affordability, I would also be shocked if lawmakers allow higher rent increases to renovate rent-stabilized apartments, even as tens of thousands sit vacant. What about a new tax break or direct funding for apartment improvements? Don’t […]

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Data on the labor market in December will be closely watched for clues on the state of the economy.

There were 231 transactions totaling $460 million recorded in New York City over the previous 24 hours before 4 p.m. on Thursday, Jan. 8, 2025. 🏆 Residential: The priciest residential real estate sale recorded in New York City was in Chelsea, where a condo at 555 West 22nd Street sold for $7.7 million. The buyer of the sponsor unit, located in Related Companies and Matsui’s The Cortland at 555 West 22nd Street, was an LLC managed by Mun Soo Kang. Core’s Shaun Osher had the listing. The asking price for the 2,500-square-foot, three-bedroom pad was $8.3 million. 🏆 Commercial: The […]

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The billionaire and philanthropist has made a nearly $8 billion payment to the private foundation of his ex-wife, Melinda French Gates, new tax filings show.

For the central bank to lower interest rates again, officials will likely need to see more notable signs that unemployment is rising.

Measure ULA just crossed the $1B threshold. An update to the city’s revenue tracker for the real estate transfer tax shows that, through the end of November 2025, ULA has generated $1.03B. 
That money goes to city coffers for use in a variety of housing-focused programs, including funding for new deed-restricted affordable housing and rental assistance to keep vulnerable Angelenos in their homes. 
“No city in the country has a permanent source of funding as big as this and as comprehensive in its approach,” said Joe Donlin, the director of United to House LA, the coalition that mobilized to pass Measure ULA. 
It’s a funding source that’s essential in light of…

Massachusetts has finally rolled out cannabis lounges, but it will be some time before you can legally spark up on a rooftop or settle down with a brownie in a café.
The state’s Cannabis Control Commission approved regulations to allow social consumption of marijuana during its Dec. 11 meeting. This paves the way for local businesses to seek permits to allow consumption of cannabis products on site and at certain events where allowed by local municipalities.

Months after LuxUrban Hotels’ chaotic bankruptcy left guests stranded on the streets of New York City, the company’s founder and former CEO is now also bankrupt.

The streaming giant agreed to pay the entire production crew of the pair’s new movie a bonus if the film performs well on the service.

The amounts of money, time and political uncertainty trouble executives at large Western oil companies, who plan to meet with President Trump on Friday.