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New York, July 20, 2018

HOUSING

City Council unanimously approved a bill that impose new disclosure requirements on short-term online rental services like Airbnb. The measure would require such companies to provide the Office of Special Enforcement the names and addresses of hosts and whether they are renting a room of the entire apartment. State law stipulates that apartments cannot be rented for less than 30 days without the presence of the permanent tenant. Read more at The New York Times.

 

BANKING

Westbury-based New England Federal Credit Union announced it has over $3 billion in assets. Founded 80 years ago, NEFCU has increased membership by 23 percent since becoming a community-chartered credit union in 2010. Read more at Long Island Business News.

 

HOSPITALITY

Marx Development filed plans with the city this week to construct a 487-foot, 237,000-square-foot hotel at 450 11th Ave. The 531-room property will also include 212,000 square feet of retail space. Read more at BisNow.

 

INNOVATION

With $25 million in support from the city of New York, San Francisco-based IndieBio will bring its innovative, four-month accelerator program to Manhattan. The biotech incubator will offer mentorship, support services and as much as $2 million in funds to about 20 life sciences startups. Read more at the New York Business Journal.

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New York, July 20, 2018

HOUSING City Council unanimously approved a bill that impose new disclosure requirements on short-term online rental services like Airbnb. The measure would require such companies to provide the Office of Special Enforcement the names and addresses of hosts and...

New York, July 19, 2018

RESIDENTIAL REAL ESTATE The Board of Standards and Appeals cleared the way for Mitsui Fudosan and SJP Properties to move forward with plans for a 668-foot tall tower at 200 Amsterdam Ave. The Committee for Environmentally Sound Development had filed a suit claiming...

New York, July 18, 2018

CASINOS Boston-based startup DraftKings announced a deal with the del Lago Resort & Casino to create an online sports betting service in New York in anticipation of the state Gaming Commission finalizing sports betting rules. The startup is already working with the...

New York, July 17, 2018

LEGAL PRACTICE New York-based Goldberg Segalla has expanded its national presence with the opening of an office at 333 Fayetteville St. in downtown Raleigh’s Capital Bank Plaza. The 370-lawyer firm now boasts a total of 22 offices in 10 states. Read more at the New...

In Case You Missed Them

New York, July 12, 2018

DEVELOPMENT Data from the New York Department of Buildings shows that the city’s outer boroughs are outpacing Manhattan in new construction in the second quarter of the year. The agency approved over 750 new building permits in Brooklyn, 614 in Queens and 400 on...

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New York, July 11, 2018

COMMERCIAL REAL ESTATE The Walt Disney Company announced it will relocate its New York operations from the Upper West Side to Four Hudson Square, signing a 99-year lease with Trinity Church for $650 million. The company plans to construct a one-million-square-foot...

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New York, July 10, 2018

COMMERCIAL REAL ESTATE According to research from Colliers International, the average asking rent for office space in Manhattan was $74.19 per square foot by the end of the first quarter of 2018, a new quarterly record. Read more at BisNow.   DEVELOPMENT The Jay Group...

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New York, July 6, 2018

REAL ESTATE Qatar-owned Katara Holding has agreed to purchase the Plaza Hotel from Sahara India Pariwar for $600 million, marking its first property acquisition in New York City. Katara will also get a 75 percent stake in Sahara as part of the deal. Read more at The...

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