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JEMB opens Brooklyn's tallest office tower | Real Estate Weekly


Mayor Bill de Blasio and New York City Economic Development Corporation President and CEO Rachel Loeb and JEMB Realty Corporation celebrated the opening of 1 Willoughby Square, Downtown Brooklyn’s tallest commercial office tower and the first office tower since the 2004 Downtown Brooklyn rezoning.
“The opening of One Willoughby marks a huge turning point in our recovery,” said Mayor de Blasio. “Over a year ago, as the city shut down to save lives, we could have only dreamed of celebrating the opening of a brand-new office tower. One Willoughby shows how the City can successfully work in partnership with communities and the private sector to create jobs and further New York City’s recovery.”  ....

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Macy's, Inc. Unveils Vision for Renewing its Flagship Herald Square Location


May 11, 2021
Macy s plans include improvements in the neighborhood near the store. Photo credit: FXCollaborative
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Macy’s, Inc. today announced its vision for renewing its commitment to its flagship Herald Square store, including $235 million of private investment in the surrounding neighborhood. Macy’s plan would upgrade Herald Square’s transit infrastructure and public realm into a modern, pedestrian-friendly urban space with upgraded subway access, improved transit connections and ADA-accessible elevators. To achieve these upgrades, Macy’s will leverage its underlying Herald Square real estate to build a commercial office tower above its iconic flagship store.
Macy’s is excited about the opportunity to work with the community to improve the neighborhood and generate additional economic activity in the city. The renewal plan is expected to generate $269 million annually in new tax revenues for New York City, support 16,290 annual jobs and spark $ ....

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