Salim and Kamil Chraibi have achieved great success in South Florida by building workforce housing — that is, somewhere between “affordable” and “luxury.” Policy people call this the “missing middle” of the market. So much development is either high-end or income-restricted that the in-between homes are essentially missing. The Chraibi brothers, as The Real Deal’s Lidia Dinkova detailed in an interesting profile, realized that if you build what’s missing, it sells. Their buyers are Americans who make too much money to qualify for affordable housing but too little to get a mortgage for a luxury home. Buyers might also just […]

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A country resort near Paris refused to cover $800 worth of medical and cleaning bills for a couple who woke up covered in bites. They’d like their stay comped, too.

Ticket sales in North America totaled $8.9 billion for the year, up 2 percent from 2024. But the box office remains far below prepandemic levels.

Beijing is using a ban on the humble mollusk to punish Japan over its apparent willingness to defend Taiwan.

The parent company behind Saks Fifth Avenue and Neiman Marcus is struggling to stay on the top side of the K-shaped economy. 

In his final day in office, Mayor Eric Adams handed a win to multifamily landlords and brokers. Adams on Wednesday vetoed the Community Opportunity to Purchase Act, or COPA, a measure derided by landlord groups as an unconstitutional intrusion into private deals. He also vetoed three bills that create new rules for city-financed housing.  In doing so, Adams both shot down a measure favored by the incoming mayor while also halting bills that the Mayor-elect’s allies believe would hurt Zohran Mamdani’s housing agenda. It will be up to the next City Council and presumed Speaker Julie Menin to try to […]

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Zohran Mamdani has added a Department of Buildings commissioner to his incoming administration.  The mayor-elect announced on Wednesday the appointment of Ahmed Tigani, Mayor Eric Adams’ acting commissioner of the Department of Housing Preservation and Development, as the head of the agency. The announcement comes hours before Mamdani is set to take over as New York City’s 112th mayor. The 34-year-old former Assembly member will be sworn in at midnight during a ceremony held in an out-of-service subway station under City Hall.  Tigani took over HPD in March, after stints as the first deputy commissioner and chief diversity officer of […]

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Thanks, but no thanks.  That was the development team’s response to the Adams administration’s offer to build housing at another city-owned site if the developers dropped their lawsuit over their abandoned Elizabeth Street Garden project.  The administration demanded last week that Pennrose, Riseboro and Habitat for Humanity New York City and Westchester drop their legal fight over the garden project, known as Haven Green. In exchange, the city would designate the team as the developers of another city-owned site at 22 Suffolk Street. In a Dec. 26 letter, First Deputy Mayor Randy Mastro gave the development team until Dec. 31 […]

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Mayor Eric Adams’ efforts to stack the Rent Guidelines Board have hit a snag.  Lliam Finn, a senior financial advisor with Merrill Lynch, has decided against serving as a public representative on the board less than two weeks after Adams appointed him, three sources with knowledge of the decision confirmed to The Real Deal Wednesday. This gives the mayor less than 12 hours to find a replacement appointment before he leaves office. It is unclear if he will be able to do so.  A spokesperson for the mayor did not immediately comment. Finn did not return a message seeking more […]

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A Volkswagen dealer is ready to drive into a bigger 2026, inking of a lease for a flagship location in Queens. Teddy Volkswagen signed a lease for 67,000 square feet on 37th Street and Northern Boulevard in Long Island City, the Commercial Observer reported. The location spans five parcels: 36-45 37th Street, 47-61 37th Street, 36-61 37th Street, 37-21 Northern Boulevard and 37-15 Northern Boulevard. The properties are owned by Vesta Industries and Vecta Industries, according to property records. The site was once a Cadillac dealership — even featured in the 1990 movie “Cadillac Man” — before recently housing the […]

This article originally appeared on The Real Deal. Click here to read the full story.