The Kansas City Chiefs have decided to leave the stadium that has served as their home for more than 50 years, lured by more than $2B in taxpayer money.
New York City’s chain store count keeps sliding, even as storefront vacancies remain tight and food brands keep expanding. The number of national retailers across the five boroughs fell 1.3 percent over the past year, a net loss of 112 locations, marking the sixth decline in eight years, according to the Center for an Urban Future’s 2025 “State of the Chains” report. The pullback was driven by the city’s biggest and most entrenched players. Seven of the 10 largest chains shrank their footprints, losing a combined 92 stores. Starbucks led the retreat, closing 42 locations since late last year, while […]
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Starting the week of Jan. 7, the Dept. of Education will begin sending notices about paycheck deductions to about 1,000 of five million borrowers in default.
BXP reached an agreement to lock in stable leadership as the office landlord navigates the choppy recovery of commercial real estate’s worst-hit sector during the pandemic.
Steven Shi is ending the year by beginning a first venture into Brooklyn. The developer behind FBL Development and Golden Stone Management filed plans for a 30-story, 158-unit project in Downtown Brooklyn, Crain’s reported. The site at 245 Duffield Street is home to a vacant two-story building, formerly a Planet Fitness gym. The permits submitted to the Department of Buildings call for a 100,000-square-foot project with 4,600 square feet of ground-floor retail space. Residential amenities will include a golf simulator, swimming pool, sauna and fitness center. It’s unclear if the units will be rentals or condos, though previously filed paperwork […]
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David Schwartz’s Slate Property Group closed on its acquisition of the Stewart Hotel in Midtown Manhattan, readying a massive hotel-to-residential conversion. Slate and its nonprofit partner Breaking Ground acquired the property at 371 Seventh Avenue for $255 million, Crain’s reported. Over the summer, The Real Deal reported that the partners were nearing a deal to grab the property from Jack Yadidi’s Sioni Group and Isaac Chetrit’s Patriarch Equities for around $275 million. Yadidi and Chetrit had envisioned a conversion of the property. Yadidi filed plans with the city last year to convert the property into a 625-unit residential project. It […]
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A media couple-turned-designers’ original Park Slope home topped Brooklyn’s luxury market last week. Pilar Guzman and Chris Mitchell’s townhouse at 757 Carroll Street in Park Slope, last asking $9.5 million, found a buyer, according to Compass’ weekly report of contracts signed asking at least $2 million from Dec. 15 to Dec. 21. The pair have both held a number of influential jobs in the media industry over the years, but have also dabbled in home development and design, with Mitchell pivoting to full-time home design and restoration, according to an author bio. Previously, Mitchell worked as a publisher at Vanity […]
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Gross domestic product grew at a 4.3 percent annual rate, faster than the previous three months.
I have nothing against James Patchett. Really. Patchett, the Gilbane Development CEO and former CEO of A&E and the city’s EDC, meant well when he offered housing solutions to Zohran Mamdani. But one was off the wall: “The new mayor can upsize pilot programs like ‘Unlocking Doors’ to pay for those renovations in exchange for leasing the apartment to city rent voucher holders,” he wrote. I’ve had lunch with Patchett and interviewed him on stage, and his wife used to work at The Real Deal. But James must not be reading my column, because I explained the utter failure of […]
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Big Tech’s huge investment in artificial intelligence is making investors nervous. But the technology continues to advance, buoying the bulls.