Finally, Port Authority Bus Terminal Prepares for a Major Upgrade

Posted by:

Finally, Port Authority Bus Terminal Prepares for a Major Upgrade

Officials have revealed a revised plan for the $10 billion Port Authority Bus Terminal project, signaling the terminal’s transformation is nearing completion. Unveiled during a news conference led by Port Authority, city, and legislative leaders, the plan includes a 45-day comment period following an environmental review.

Key updates comprise the permanent closure of part of 41st Street, a central main entrance, enhanced street-level retail, a multi-story indoor atrium, and new public open space. Gov. Kathy Hochul emphasized the goal of creating a more ...

Continue Reading →
0

English

, , , , , , , , , ,

The Manhattan Market Pulse: February 2024

Posted by:

The Manhattan Market Pulse: February 2024
The Contract Activity, the number of signed contracts, for the month of January is up 19.4% compared to a year ago and down 6% compared to the monthly historical average.

The Median Sales Price for a Manhattan apartment is $1.13M, which is 5.3% higher than a year ago.

The Supply, the number of units on the market, is down 4.3% compared to the same period of February 2023. Meanwhile, the number of Pending Sales, or the number of units currently in contract, is 43% higher than a year ago.

Continue Reading →

0

English

, , , , , , , , , , , , , , ,

The Tax Break New York Relied on to Build Housing Is Gone. What’s Next?

Posted by:

The Tax Break New York Relied on to Build Housing Is Gone. What’s Next?

The New York City’s divisive “421a” program has expired in 2022. Introduced 50 years ago, 421a provided developers with tax breaks to incentivize housing construction. Under 421a, developers were required to allocate a portion of units as “affordable,” plus 421a gave tax relief to the final users for 10 to 15 years.

Yet, the program faced criticism, particularly from left-leaning lawmakers who deemed it a developer giveaway.

Despite this, Mayor Eric Adams and housing experts argue for the necessity of tax incentives to combat the city’s housing shortage, ...

Continue Reading →
0

English

, , , , , , , , , ,

Miami’s Unemployment Rate Remains At Record Low 1.4%

Posted by:

Miami’s Unemployment Rate Remains At Record Low 1.4%

The Miami area continues to experience a record-low unemployment rate, with the latest Bureau of Labor Statistics (BLS) report indicating that in November, the unemployment rate in the Miami-Miami Beach-Kendall metropolitan division stood at 1.4 percent. This marks one of the lowest rates among major metropolitan areas in the United States.

Additionally, Miami-Miami Beach-Kendall saw the fastest year-over-year increase in employment among major metropolitan divisions, with a 3.9 percent growth in employment in November compared to the same period the previous year. These ...

Continue Reading →
0

English

, , , , , , , ,

The Manhattan Market Pulse: January 2024

Posted by:

The Manhattan Market Pulse: January 2024

What’s going on in the Residential Market? 

The contract activity, the number of signed contracts, for the month of December is down 4.9% compared to a year ago and also down 18% compared to the monthly historical average.

The Median Sales Price for a Manhattan apartment is $1.16M, and it’s 3.2% up compared to a year ago.

The supply, the number of units on the market, is down 2.9% compared to the same period of January ...

Continue Reading →
0

English

, , , , , , , , ,

Page 18 of 115 «...101617181920...»