In the recent Spike Lee film “Highest 2 Lowest,” actor Denzel Washington, playing a music mogul, spends a good portion of the movie in his sprawling Dumbo penthouse, negotiating the release of his kidnapped son.  Now, it appears some more pleasant negotiations have gone down between a buyer for the starring unit and Fortis Property Group, the developer behind the property. The penthouse went into contract with a last asking price of $17.5 million, according to StreetEasy. The deal comes three years after the building’s other penthouse on the 33rd floor appeared to go into contract with an asking price […]

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A joint venture between World Wide Group and Rabina secured a sizable loan to refinance a Long Island City rental tower. KKR provided a $160.2 million loan to ownership at 41-42 24th Street in the Queens neighborhood, the Commercial Observer reported. The loan goes toward the 421-unit QLIC, which opened its doors to residents more than a decade ago. “QLIC exemplifies the type of high-quality, stabilized asset we look to support, with durable cash flow, high occupancy, and a prime, transit-oriented location in Long Island City,” KKR managing director Adam Simon said in a statement. A JLL team led by […]

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Sixteen elected treasury officials, all Democrats, wrote to President Trump to say ICE crackdowns are bad for business and tax revenues: “People must feel safe to go to work.”

🏆 New Building: The largest new building application filed last week was in Bedford-Stuyvesant. Brooklyn-based YS Developers filed an application to build a 171,415-square-foot, eight-story mixed-use building at 1111 Myrtle Avenue. The project’s architect is Hamish Whitefield, and it will have 77 units. Job Filing Number: B01348174-I1 📊 New Building: An application was filed for a new, 13-story residential building with 79 units at 95-28 147th Place in Jamaica, Queens. The architect is, and the owner is East 181 Gardens LLC. The building will measure 43,128 square feet.  Job Filing Number: Q01351121-I1 📊 New Building: In Flatbush, AFS Systems filed […]

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The once high-flying Danish drugmaker has struggled to fend off rivals in the weight-loss industry and faces lower prices for its medicines under a deal with President Trump.

The year-old company, founded by veterans of the autonomous vehicle business Waymo, is seeking to automate excavators and other building equipment.

The layoffs are slated to shrink the newsroom by hundreds of journalists, cutting into The Post’s local, international and sports coverage.

New tools by artificial intelligence companies like Anthropic have reignited worries that businesses will pare down their subscriptions to software services.

Joe Cafiero shared some interesting details about what it’s like to take over buildings whose owners have essentially walked away. According to Cafiero, a receiver whom the public advocate erroneously included on the “worst landlords” list, one of the hardest tasks is collecting rent. “In most cases, the rent collection rate is 40 percent or 50 percent,” he said in a phone interview. “The tenants are not paying.” But he doesn’t blame them because of the condition of the buildings. “They’re in disrepair. Open accessways, doors, roofs are open, boilers haven’t been serviced, sometimes there’s no heat, tons of water […]

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