Real Estate Deal Watch

• Does attending law school in the state help students pass the New York Bar? May 3, 2024
  More than 1,650 law school graduates are on their way to practicing law in New York after passing the New York State Bar Examination in February.With 3,962 test-takers, the overall pass rate clocked in at 42%, up 2% from last year. That share is significantly higher for first-time test-takers who attended American Bar Association-approved law […]
• Crain's honors the women who shape New York May 3, 2024
  Crain's hosted its second annual Women of Influence luncheon on May 1 to recognize some of the city’s leading ladies. The event, held at the Marriott Marquis, brought together a group of more than 250 to celebrate this year’s 11 individual honorees, including Kathryn Wylde, president and CEO of the Partnership for New York City; […]
• Midtown law firm moves to smaller space at lower rent May 3, 2024
  Law firm Sullivan & Worcester has relocated its Midtown office and leased 20% less space.The firm with 52 New York-based attorneys moved to 1251 Sixth Ave. from 1633 Broadway, a short walk away on West 50th Street.  The new space at 42,000 square feet is smaller but has a view of Rockefeller Center and a […]
• Billionaire developer Ben Ashkenazy loses Madison Avenue office building to foreclosure May 3, 2024
  A billionaire developer who for years has been ensnared in legal trouble for allegedly defaulting on loans now must give up his stake in a Madison Avenue office building that will be auctioned off in two weeks, according to a court notice last month.Ben Ashkenazy, who heads Ashkenazy Acquisition Corp., recently had his ground lease […]
• Deals of the Day: May 3 May 3, 2024
  LeasesLeather goods company inks showroom lease near Empire State BuildingAddress: 366 Fifth Ave., ManhattanLandlord: Joseph P. Day RealtyTenant: Mundi Westport GroupLease size: 10,800 square feetLease length: 12 yearsAsking rent: $58 per square footAsset type: RetailBrokers: Newmark’s Brian Waterman, Lance Korman and David Waterman represented the tenant. Colliers’ Michael Joseph, Aidan Campbell and Jordy Elardo represented […]
• Controversial Crown Heights development site sells for $64M May 3, 2024
  A controversial Crown Heights development site has traded hands for the second time in less than two years at what appears to be a healthy profit.A limited liability company tied to Brooklyn developer Yitzchok Schwartz has purchased 124-130 Montgomery St., the former Spice Factory site near the Brooklyn Botanic Garden, for $64 million, property records […]
• Op-ed: BIDs at 40: Four decades of building a New York City for everyone May 3, 2024
  In 1984, New York City was pulling itself out from the depths of a decade of crisis. The city shed more than one-tenth of its population in the prior decade, arsonists scorched entire blocks of homes and businesses, and families that had called New York home for generations were fleeing to the suburbs.Near Union Square, […]
• Long Island town sues to block congestion pricing, claims public transit is too dangerous May 3, 2024
  A Long Island town claims in a new federal lawsuit that the city’s subway system is a dangerous, unreasonable alternative for commuters who want to avoid congestion pricing.The town of Hempstead in Nassau County on Wednesday became the latest municipality seeking to block the Metropolitan Transportation Authority’s congestion pricing program, which is set to take […]
• U.S. jobs post smallest gain in 6 months as unemployment rises May 3, 2024
  U.S. employers scaled back hiring in April and the unemployment rate unexpectedly rose, suggesting some cooling is underway in the labor market after a strong start to the year.Nonfarm payrolls advanced 175,000 last month, the smallest gain in six months, a Bureau of Labor Statistics report showed Friday. The unemployment rate ticked up to 3.9% […]
• 7 new North Fork spots to escape the Hamptons crowds May 3, 2024
  The concept of beach traffic goes to extremes on summer weekends on Route 27. The sole road that links the Hamptons to the Long Island Expressway — the busy pipeline to and from New York City — is one of the East Coast’s most traffic jammed thoroughfares from Memorial Day through Labor Day.That traffic, not […]