CEO Report New York
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.
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.
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.
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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