NEW YORK CITY-Local 32BJ of the Service Employees International Union unanimously approved a four-year contract with the Realty Advisory Board on Labor Relations, guaranteeing a 5.6% wage increase for workers and employer-paid health benefits.
NEW YORK CITY-At a New York Bar Association luncheon Thursday, CBRE’s vice chairman Darcy Stacom explained that despite headwinds from the financial services industry, New York itself will remain a stable location to deploy capital -- even with competition from London, Dubai and Tokyo.
NEW YORK CITY-A survey of commercial real estate executives indicates they are more likely to invest in their home country, according to speakers at KPMG LLP’s and Goodwin Procter’s “Forming Real Estate Funds in Today’s Environment” seminar Wednesday evening.
NEW YORK CITY-The New York State Attorney General has been selected by the President to join a special unit of investigators that will crack down on the misconduct that contributed to the housing bubble and market crash.
NEW YORK CITY-The international real estate firm is marketing the 50-story, 450,000-square-foot office building in the heart of Lower Manhattan's Financial District. A source close to the deal tells GlobeSt.com that the property could trade for $142 million, or $300 per square foot.
ALBANY-In a bipartisan effort to create jobs and accelerate capital investments, the legislature passed design-build legislation, a bill that helps streamline the approvals process and helps gets projects done faster. It is a concept embraced by 46 other states—and now New York is finally on the bandwagon.
NEW YORK CITY-The port will launch a plan on Feb. 1 that saves EZ-Pass customers 50% on tolls at the Goethals and Bayonne Bridges and the Outerbridge Crossing between Staten Island and New Jersey. Sources say the move could be a boon for industrial properties on both sides.
NEW YORK CITY-The new executive director of the Port Authority of New York & New Jersey said he is confident that the tower will be completed as planned. Foye also outlined his agenda for the city and state during the New York Building Congress’ first luncheon of the year in Midtown.
NEW YORK CITY-Developer Silverstein Properties is considering to halt construction on the tower if a major anchor tenant is not signed, sources told Crain’s New York Business.