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 […]

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

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.

Eric Adams’ administration is leaving Zohran Mamdani with another task: fixing the Hunts Point Produce Market. Adams announced a project to redevelop the Bronx wholesale complex responsible for distributing much of the city’s fresh fruit and vegetables, Bloomberg reported. The project comes as the aging facility is weighed down by pollution and old infrastructure. Expected to cost $635 million, the redevelopment is expected to replace the facility with an all-electric market with better access to freight and rail transport. A joint venture led by Aurora Contractors and Primus Builders will eliminate diesel-powered transport refrigeration units, add refrigerated warehouse space and […]

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

In 2025, rental brokers were handed a new playbook and New York City elected a Democratic Socialist.  Voters signed off on changes that could transform a political dynamic that has guided rezonings for decades. A fatal shooting at a Midtown office tower raised questions about how best to protect tenants.  These and other stories had a major impact on real estate this year, and will continue to influence the industry in the years ahead.  Here are some of 2025’s most consequential New York real estate stories:  1) Shooting at 345 Park Avenue The tragic shooting of four people at Rudin […]

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There were 253 transactions totaling $989 million recorded in New York City over the past 24 hours before 2 p.m. on Tuesday, Dec. 30. 🏆 Residential: The top home sale recorded in New York City was in Lenox Hill, where a three-story penthouse at 823 Park Avenue changed hands for $24.2 million — nearly 21 percent off its prior trade price. The seller was an LLC managed by hedge funder Joseph Edelman, and the buyer was an LLC tied to Suzy Welch, widow of famed General Electric CEO Jack Welch. The unit previously sold for $30.5 million in 2008. The […]

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Walker & Dunlop disclosed that it may have to repurchase millions of dollars of loans after Freddie Mac discovered borrowers committed mortgage fraud. The finance and advisory firm revealed in its most recent earnings report and call with analysts that it has received requests from Freddie Mac to repurchase two loan portfolios with $100 million in unpaid balance because of fraudulent documentation submitted by the borrower.  The company has already entered into forbearance with Freddie Mac for one of the loan portfolios. It said it expects to enter into forbearance on the second portfolio of loans, totaling $49.3 million. But […]

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

A video purporting to expose extensive fraud at child care centers in Minnesota shows the relationship between the Trump administration and self-described citizen journalists.

Customs agents have broad authority to search the electronic devices of travelers entering and leaving the U.S. Here are tips for keeping your data safe.

New York Times editors across the newsroom share their biggest questions as we leave 2025 behind and look ahead to 2026.

The boom in artificial intelligence was the biggest driver of gains in the stock market. That could pose a risk in 2026.