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Moody's Shows CMBS Risk Caused by Local Law 97

Share via Shortlink 32 Avenue of the Americas, Two MetroTech and 60 Hudson Street (Rudin Management, Brookfield Properties, 60 Hudson, City of New York) In 2024, the owner of the former AT&T Long Distance Building at 32 Sixth Avenue could face $2.8 million in fines. The owner of the former Western Union Building at 60 Hudson Street could be on the hook for nearly $4.6 million in fines that same year. The two properties have origins in telegraph services and now house major telecommunica...
New York United States City Of New York John Gilbert Metrotech Center Leser Group

NYC's 10 Biggest New Real Estate Projects of 2020

Share via Shortlink From top: 355 Exterior Street in the Bronx, 55-15 Grand Avenue in Queens and 700 Atlantic Avenue in Brooklyn (Google Maps) Planning a new development project in New York City is not for the faint of heart, but some builders remained undeterred in 2020 — even in the face of the Covid-19 pandemic, as well as rising anti-development sentiment. This year saw the defeat of the Industry City rezoning, which would have transformed Sunset Park, as well as the Olnick Organi...
New York United States East Harlem Fort Greene Al Iskandariyah Sunset Park

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