Local coffee chain Compass Coffee has filed for Chapter 11 bankruptcy protection.
The announcement that Peter Zaffino would step down as chief executive in June and become executive chairman sent the insurer’s stock tumbling.
The country could, eventually, attract investment and re-emerge as a force in the oil markets, but many analysts are concerned about an oversupply.
Obstacles to NYCHA’s quest to redevelop two public housing complexes in West Chelsea keep springing up. Late last month, former State Sen. Thomas Duane filed a lawsuit looking to block the redevelopment of the Fulton and Elliott-Chelsea Houses, Crain’s reported. The lawsuit claims NYCHA’s plan is illegal, as it involves leasing the properties to Related Companies, ostensibly in violation of a state law dating back to 2010. “It is absolutely unacceptable that the city of New York would sell its land and low-income housing to a private developer,” Duane said in a statement. He represented the neighborhood for 14 years […]
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One of the nation’s largest hotel conglomerates is in hot water with the Department of Homeland Security after a local operator allegedly refused to accommodate Immigration and Customs Enforcement officers.
The future of the Brooklyn Mirage is coming into focus. Five Holdings acquired the entertainment complex at 140 Stewart Avenue in East Williamsburg for $110 million, the Commercial Observer reported. Five Holdings is the parent company of nightlife brand Pacha — known for its famed Ibiza nightclub — and will set up shop in Brooklyn. The acquisition by the Dubai-based holding company was first reported by Traded. Pacha’s deal is the latest twist in the fate of a venue as known for its storied live music scene as its propensity to harbor drug use, aggressive security and even death; a […]
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Luxury deals drove Manhattan’s sales market for most of 2025, but by year’s end, the momentum trickled down. Last quarter, co-op sales — generally priced below condos — outpaced condo deals in the borough for the first time in more than a year, powered by a steady decline in mortgage rates during the back half of the year, according to Miller Samuel’s quarterly report for Douglas Elliman. “As mortgage rates drifted lower, we saw an improvement in sales of lower-priced units because those buyers are more reliant on mortgage rates,” said report author Jonathan Miller, who added that mortgage rates […]
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Meyer Chetrit appeared in court briefly Tuesday morning, where he and his brother Joseph are facing criminal tenant harassment charges that could see the landlords serve prison time. Meyer spent about 15 minutes in front of the judge at Manhattan’s Supreme Court building, dressed in a tan cardigan, brown pants and a blue scarf hanging around the back of his neck. Joseph’s appearance had been waived due to an infirmity. The brothers had already pleaded not guilty several months ago to two counts of tenant harassment. At Tuesday’s hearing, two of the LLCs involved in the case entered not-guilty pleas, […]
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Manhattan office leasing closed out last year like it was 2019, posting its strongest quarter since before the pandemic. Demand surged, availability tightened and rents pushed higher across much of the city, according to Colliers data. Leasing activity jumped more than 25 percent quarter-over-quarter to 11.9 million square feet, the borough’s most active quarter since late 2019. “The year 2025 will be remembered as a watershed moment in the Manhattan office market’s recovery,” said Colliers’ Franklin Wallach, one of the report’s authors. For the full year, tenants inked nearly 42 million square feet of deals, the highest yearly total since […]
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TPG Real Estate struck a deal to acquire a majority interest in Lennar’s multifamily business that includes a $1B capital commitment.