Priciest Apartments Manhattan

The week in luxury: A map of NYC’s priciest apartment sales An interactive look at阿爱上海同城 阿拉爱上海同城 where the biggest deals were struck, plus total overall sales and average上海贵族宝贝交流区 上海贵族宝贝论坛 prices for the week (click on numbers to see data)
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Late Sunday night, when the New York State上海夜网 阿爱上海同城 Senate finally passed a revenue bill, it put in place a $163 billion budget and revived the 421a developer tax exemption, now called “Affordable New York.”

But some parts of the new 421a law, which by some estimates will subsidize New York City real estate to the tune of $2.4 billion annually, remain convoluted and unclear, and real estate attorneys and other sources said details still need to be ironed out.

The Real Deal identified three potential problem areas in the new bill that are likely to pose major headaches for developers and the city in the months to come.

One of the most contentious components of a new 421a had always been about what types of condominium projects would qualify. Brooklyn state senators Simcha Felder and Marty Golden attempted to significantly expand outer-borough condo exemptions but weren t successful in doing so. The new law will instead enact what was proposed back in 2015: Only outer-borough condo projects of 35 units or fewer can get 421a. No more Manhattan projects, and no more glitzy large-scale Brooklyn projects.

The grey area, though, spreads from the caps on condo assessments introduced by the legislature and the governor. The new law caps the average tax assessment value for the condos at just $65,000, a limit that attorney Alvin Schein said will make it impossible for developers to promise 421a savings to condo buyers because of fluctuating city assessments they can t predict.

“To me, it’s usel[……]

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Russian Investors

What to do阿爱上海同城 阿拉爱上海同城 about rich Russians buying NYC real estate? Asking for De Blasio. De Blasio wishes he knew what to do, but he’s only the mayor of NYC

Tell us how you really fee上海贵族宝贝论坛 上海贵族宝贝l, Bill. BuzzFeed asked the NYC mayor whether real estate investment from foreign wealthy buyers particularly Russians is a gift to the city. (Kevin Case, front/Pixabay, 上海贵族宝贝论坛 上海贵族宝贝back)

New York City mayor Bill De Blasio has a problem he s not sure how to fix.

On BuzzFeed News Friday morning show, Editor-in-Chief Ben Smith asked De Blasio how he feels about the world s wealthy particularly Russians investing in New York real estate to clean their money. As TRD reported, Russian investment is picking up thanks to Trump s presidency and local New York players are their fixers.

Is that basically a gift to the city because you get some extra ta上海龙凤论坛sh1f 上海龙凤论坛x revenue? Smith asked.

I see Russian oligarchs as a problem, responded De Blasio. (Cue slow clap.) The mayor went on to talk about Russian interference in the U.S. elections before circling back to respond directly to Smith s question on how the city views investment from wealthy Russians in New York real estate with a shrug.

It manifests here as people with a lot of ill-gotten gains buying a lot of property I don t like it one bit, said De Blasio. I wish I had a specific law or approach t新上海贵族宝贝论坛 上海贵族宝贝交流区o address it.

Live and let live seems to be the de facto approach now.

[BuzzFeed News] E.K. Hudson

Tags: bill de blasio, Residential Real Estate, Russ[……]

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30 Hudson Yards

British hospitality company plans two restaurants in Hudson Yards rhubarb to open locations 上海千花网 爱上海同城对对碰at 30 Hudson Yards, the mall

Rendering of Hudson Yards (inset: P.B. Jacobse)

The British are coming! To Hudson爱上海龙凤419桑拿 上海龙凤论坛sh1f Yards, that is.

London-based rhubarb, a major hospitality company in England, plans to open new restaurants at 30 Hudson Yards and at the Hudson Yards Shops Restaurants, the New York Post reported. The restaurant at the mall will occupy 5,800 square feet on the fifth floor. The mall, which is expected to open in March 2019, is anchored by Neiman Marcus, though the Post reported in September that the company plans to downsize its flagship store.

At 30 Hudson Yards, rhubarb plans to open a 1爱上海同城论坛 爱上海同城0,000-square-foot restaurant on the tower s 92nd floor — above the outdoor observation deck. The tower is expected to open by the end of 2019.

The new restaurants will mark rhubarb s first expansion outside Britain. The hospitality company operates Sky Garden on the top floor of 20 Fenchurch in London, better know上海千花社区 上海千花网交友n as the walkie-talkie tower.

“It’s always been our desire to go to New York,” rhubarb CEO P.B. Jacobse told the Post. “I lived there in the 1990阿爱上海同城 阿拉爱上海同城s when I worked at the Waldorf Astoria for five years.” The Hudson Yards venues will employ more than 250 people, he said. [NYP] — Kathryn Brenzel

Tags: Commercial Real Estate, Hudson Yards
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