Real Estate Deal Watch

• What to know about the $9B home care program at the center of this year’s budget April 23, 2024
  A popular home care program that allows older New Yorkers and people with disabilities to hire their own caregivers became the focal point of last week’s budget talks as policymakers sought ways to cut Medicaid spending. But now that the deal is done, the state is banking on $500 million-savings from a program overhaul while […]
• At a Glance: April 23 April 23, 2024
  ICYMI: Gov. Kathy Hochul’s fiscal 2025 budget, finalized Saturday, includes a policy to protect New Yorkers from excessive medical costs. The policy prohibits hospitals from denying patients emergency or medically necessary care because they have unpaid medical bills and bars hospitals from suing individuals with incomes below 400% of the federal poverty level. The policy […]
• Montefiore files to renovate cardiac treatment space for $11M April 23, 2024
  Montefiore Medical Center seeks to build a new cardiac electrophysiology and intervention room at its Moses campus in a project that will cost more than $11 million, according to a certificate of need application filed with the state Department of Health Monday.The Moses campus in the Norwood neighborhood of the Bronx currently operates three electrophysiology […]
• City Comptroller wins back $3M in back wages for H+H contract workers April 23, 2024
  City Comptroller Brad Lander has won back nearly $3 million in back wages for 332 temporary employees working at some New York City Health + Hospitals facilities, according to settlement documents released today.The money comes from a settlement Lander’s office reached with Winston Support Services, a Midtown-based staffing firm H+H contracted with for supplemental nonclinical […]
• State budget sweetens pensions for some workers at $4B cost April 22, 2024
  Taxpayer contributions to New York City and state pensions will rise by $4 billion under a benefit sweetener for some public employees included in the state budget.The budget reverses Tier 6, a 2012 pension reform pushed through by former Gov. Andrew Cuomo after the financial crisis opened up yawning funding gaps for public employee pensions. […]
• Adams administration faltered in flooding response, comptroller finds April 22, 2024
  Mayor Eric Adams’ administration faltered in its response to the September rainstorm that dumped nearly 9 inches of water on parts of New York City, raising questions about its preparedness for similar extreme-weather events in the future, according to a new investigation by the city comptroller.Nobody died during Tropical Storm Ophelia, unlike the 11 people […]
• Race to control New York's suburbs rocked by money, insults and Israel April 22, 2024
  One of the nastiest, most expensive political campaigns in the U.S. isn’t a general election fight for the soul of the nation. It’s a mean-spirited, money-fueled Democratic primary in New York’s 16th congressional district, a tract spanning the Bronx’s poorest blocks to some of Westchester County’s richest suburbs.The incumbent is Jamaal Bowman, a charismatic Black former […]
• Judge denies SUNY's motion against Fortis in ongoing LICH lawsuit April 22, 2024
  An Albany judge earlier this month tossed the state's claim that Dumbo-based real estate investor Fortis Property Group must immediately pay $8 million as part of a failed deal to redevelop the old Long Island College Hospital in Cobble Hill.Judge Richard Platkin of Albany's Court of Claims on April 5 denied a motion for what's […]
• Op-ed: After years of inaction, housing deal is critical first step April 22, 2024
  Over the past week, a package of housing bills and programs have come together in Albany as part of New York State’s annual budget negotiations. As in prior sessions where housing has been a large part of the political and fiscal story, this year’s package will find most of the stakeholders involved somewhere between somewhat […]
• South Bronx to get 120-unit residential project April 22, 2024
  The city is getting a rare project with more than 100 residential units in the South Bronx.The site is at 1848 Vyse Ave., just below the Cross Bronx Expressway by East 176th Street, and comes from Dunn Development, a real estate firm based in Gowanus. It will span just over 90,000 square feet and stand […]