Policy

Calls for a so-called pied-à-terre tax have increased since hedge fund manager Ken Griffin closed on a penthouse at 220 Central Park South for over $239 million in January, for a residence that the billionaire will be using as “a place to stay when he’s in town.” And State Budget Director Robert Mujica stated recently that a pied-à-terre tax could be combined with other revenue solutions to help fund the Metropolitan Transportation Authority’s $40 billion in capital needs. Owners of some of the city's highest-priced real estate, however, could face a dramatic dip in their property values if the tax plan is enacted, the Wall Street Journal reports, after an analysis that showed how the heftiest tax would be levied on a small number of houses, co-ops, and condos with market values of $25 million or more. The new tax could potentially slash the value of this handful of pricy properties by almost half.
How much is half of too much?

MTA chooses consultant to oversee L train tunnel project

Via Flickr

March 22, 2019

MTA chooses consultant to oversee L train tunnel project

The Metropolitan Transportation Authority has chosen a consultant to oversee the reconstruction of the 100-year-old L train tunnel, the Wall Street Journal reported Thursday. The agency tapped JMT of NY Inc. to review construction timelines and safety and environmental concerns for the never-been-done-before project. After Gov. Andrew Cuomo intervened earlier this year, the MTA revised its original Carnasie Tunnel repair plan to not require the L train to shut down for 15 months, but instead have construction work take place on nights and weekends. But the $1.2 million contract--which must be approved by the MTA board next week--does not include a review of the feasibility of the updated L train plan before construction is set to begin on April 27.
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Two-thirds of voters say losing Amazon deal was bad for New York

Image via NYCEDC

March 19, 2019

Two-thirds of voters say losing Amazon deal was bad for New York

According to a new poll conducted by the Siena College Research Institute, nearly two-thirds of New York state registered voters think Amazon’s decision to cancel its plans for a second headquarters in Queens was bad for New York. Sixty-one percent of the people who were polled say they would approve of the deal—in which Amazon would receive up to $3 billion in state and city incentives and create up to 25,000 jobs—if the company were to reconsider. The results are clear: “While some may have celebrated Amazon’s announcement to pull the plug, the vast majority of New Yorkers of every stripe thought it was bad for the Empire State,” said Siena College pollster Steven Greenberg.
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Policy

$2.8M from Met admission fees will be allocated to 175 NYC cultural organizations

Image via Pexels

March 19, 2019

$2.8M from Met admission fees will be allocated to 175 NYC cultural organizations

When the Metropolitan Museum of Art announced it would start charging non-New Yorkers $25 for admission and waive its pay-what-you-wish policy for the first time since 1970, most people reacted with disapproval. But there was an under-the-radar benefit to this new policy: The Met agreed to share a portion of the new revenue from admission fees with the city, to be used by the Department of Cultural Affairs in support of the CreateNYC plan. A year after the admission fees went into effect, the de Blasio administration has announced that $2.8 million in additional funding will be allocated to over 175 cultural organizations in underserved communities throughout the five boroughs.
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WeWork Food Labs will open in West Chelsea to support innovative food-related startups

A rendering of the WeWork Food Labs space. Image courtesy of WeWork.

March 15, 2019

WeWork Food Labs will open in West Chelsea to support innovative food-related startups

Coworking, office space leasing (and everything else) company WeWork has launched its second "innovation lab." WeWork Food Labs intends to nurture early-stage startups focused on the future of food. Food Labs will offer dedicated space, community, and programming to entrepreneurs who are tackling challenges in food-related industries from hospitality, consumer goods and kitchen appliances to supply chain management, agricultural technology, distribution software, robotics and more, all of which are apparently very much in need of innovation. A flagship New York City location will open in late 2019 at 511 West 25th Street adjacent to the High Line in West Chelsea.
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Policy

Rendering of 200 Amsterdam Avenue via SJP Properties/ Elkus Manfredi

March 15, 2019

Court rules against the 668-foot tower already rising at 200 Amsterdam Avenue

A state Supreme Court ruling on Thursday overruled the city’s decision to allow a permit for 200 Amsterdam Avenue, the controversial Upper West Side condo project that has been challenged by community groups and elected officials because of its oddly-shaped, gerrymandered lot. As Crain’s reports, the Board of Standards and Appeals, which approved the project last year, has been ordered to go back to the drawing board and re-evaluate the permit for the project led by developers SJP Properties and Mitsui Fudosan, who have already started construction at the 69th Street site.
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De Blasio unveils $10B plan to flood-proof Lower Manhattan by extending shoreline into the East River

Via Mayor Bill de Blasio’s office

March 14, 2019

De Blasio unveils $10B plan to flood-proof Lower Manhattan by extending shoreline into the East River

Mayor Bill de Blasio unveiled on Thursday a $10 billion plan to extend the coastline of Lower Manhattan as much as 500 feet to protect from future floods. The Lower Manhattan Coastal Resiliency project is the result of a study that looked at ways to build resilience in low-lying neighborhoods like the Financial District and South Street Seaport. The study found the only feasible measure for these areas would be extending the shoreline about two city blocks into the East River by adding a new piece of land at or above 20 feet from current sea level.
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Without a firehouse, thousands of Hudson Yards residents and visitors are at risk, FDNY union says

Hudson Yards via Maciek Lulko on Flickr

March 14, 2019

Without a firehouse, thousands of Hudson Yards residents and visitors are at risk, FDNY union says

While developers built the Hudson Yards mega-development with resiliency and security in mind, adding a powerful mechanical system and a plan to work with police, one major safety component remains missing. The 28-acre, $25 billion private development, the largest in the country, does not have its own firehouse. Members of the Uniformed Firefighters Association once again are calling on Mayor Bill de Blasio's administration on Thursday to build a new firehouse for Hudson Yards, which is expected to bring more than 125,000 new residents to Manhattan's west side.
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Policy

Neighborhood association calls for a ‘slow street’ district in FiDi

Sketch of Nassau and Beekman Streets as slow streets; via FDNA

March 13, 2019

Neighborhood association calls for a ‘slow street’ district in FiDi

A neighborhood association is calling for safer streets and sidewalks for pedestrians walking through Manhattan's Financial District. In a report released on Tuesday by the Financial District Neighborhood Association (FDNA), "Make Way for Lower Manhattan," the group calls for making the neighborhood a "slow street" district that would require cars to share space with pedestrians in an area stretching roughly between the foot of the Brooklyn Bridge and Battery Park.
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Policy

Five ‘Tin Pan Alley’ buildings may be landmarked for their musical history

Via LPC

March 12, 2019

Five ‘Tin Pan Alley’ buildings may be landmarked for their musical history

The Landmarks Preservation Commission voted on Tuesday in favor of calendaring five buildings on West 28th Street in Manhattan's "Tin Pan Alley," in the neighborhood now called Nomad. The buildings at 47-55 West 28th Street were an integral part of the area known for having New York City's most significant concentration of sheet music publishers at the turn of the 20th century, and as the birthplace of iconic American songs like "God Bless America." It's also where popular music icons like Irving Berlin and George Gershwin wrote songs. Calendaring is the first formal step in the historic status designation process.
Sounds like a good idea

Gearing up for summer, Jersey Shore homeowners are fighting Airbnb tax on short-term rentals

Asbury Park, NJ; via Wikimedia

March 12, 2019

Gearing up for summer, Jersey Shore homeowners are fighting Airbnb tax on short-term rentals

A surcharge on short-term rentals took effect last October in New Jersey, making it one of the first big states to implement such a tax. An 11.6 percent tax, dubbed the "Airbnb tax," applies to properties rented for fewer than 90 days made on home-sharing sites or directly between a renter and homeowner, excluding deals arranged through a broker. But as homeowners gear up for the summer season in the coming months, owners of Jersey Shore rental homes say the tax has made it harder to fully book their properties ahead of beach season, the New York Times reported.
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Greenwich Village preservation group calls for interior landmarking of White Horse Tavern

Via Wikimedia

March 11, 2019

Greenwich Village preservation group calls for interior landmarking of White Horse Tavern

A Village preservation group on Monday called on the city's Landmarks Preservation Commission to designate the interior of White Horse Tavern a landmark. In a letter to LPC Chair Sarah Carroll, the Greenwich Village Society for Historic Preservation (GVSHP) wrote that "the potential loss of the interior of this tavern from a recent change in ownership would be a devastating loss, not only to New York City, but to the country and the world." The request comes less than a week after the 140-year-old West Village bar was sold to notorious landlord Steve Croman, who once served jail time for tenant harassment.
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Hudson Yards got bigger tax breaks than the ones promised to Amazon

Rendering courtesy of Related/Oxford.

March 11, 2019

Hudson Yards got bigger tax breaks than the ones promised to Amazon

The $20 billion, 28-acre Hudson Yards megaproject has been in the news recently as its official March 15 grand opening approaches. The New York Times reports that the nation's largest residential development has gotten more than a little financial help from the city government to get there. In fact, public records–and a recent study by the New School–reveal that the development has received nearly $6 billion in the form of tax breaks and additional government assistance, twice the controversial $3 billion in incentives held out to Amazon to entice the retail tech giant to bring its second headquarters to Queens.
That's a pretty big break

State budget director says a pied-à-terre tax could help fund MTA

Via Flickr

March 7, 2019

State budget director says a pied-à-terre tax could help fund MTA

Calls for a pied-à-terre tax have increased since billionaire Ken Griffin closed on a penthouse at 220 Central Park South for over $239 million. The sale shattered the existing record of the most expensive home sold in the US by $100 million but Griffin will only be using the residence as "a place to stay when he’s in town." City Council Members Mark Levine and Margaret Chin recently announced support for a bill that was first drafted by Sen. Brad Hoylman five years ago, which would place a yearly surcharge of 0.5% to 4% on secondary residences worth more than $5 million. In a statement released on Wednesday, State Budget Director Robert Mujica added his support, stating that a pied-à-terre tax could be combined with other revenue solutions to help fund the Metropolitan Transportation Authority's $40 billion in capital needs.
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NYPL’s new entrance and public plaza on 40th Street gets green light from Landmarks

Rendering of the Marshall Rose Plaza by Mecanoo with Beyer Blinder Belle

March 6, 2019

NYPL’s new entrance and public plaza on 40th Street gets green light from Landmarks

The city's Landmarks Preservation Commission on Tuesday approved the New York Public Library's plan to add a new public entrance and plaza to its Stephen A. Schwarzman Building in Midtown. The changes fall under the library's larger master renovation plan, a $317 million project first unveiled in 2017. The LPC approved the changes to the exterior of the building--subject to the city's landmark rules--after design modifications suggested at a presentation in February were made by the library, Curbed NY reported.
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Corey Johnson proposes new city-controlled transit system called Big Apple Transit or ‘BAT’

Via City Council Speaker Corey Johnson

March 5, 2019

Corey Johnson proposes new city-controlled transit system called Big Apple Transit or ‘BAT’

In a self-proclaimed atypical State of the City address, City Council Speaker Corey Johnson on Tuesday laid out his vision for city control over New York City's mass transit system. Johnson said municipal control "means we decide how our system is run, we decide how we raise money, and we decide how we spend it." He added: "Municipal control means saying goodbye to the MTA." The new entity would be controlled by the mayor and called Big Apple Transit, or "BAT."
Is it goodbye MTA?

City will expand Fair Fares program to all eligible New Yorkers by 2020

Image via Flickr

March 5, 2019

City will expand Fair Fares program to all eligible New Yorkers by 2020

After facing criticism for the delayed and limited roll-out of Fair Fares, Mayor de Blasio and City Council Speaker Johnson have announced plans to expand the program. Starting this fall, eligible New Yorkers in NYCHA, enrolled students at CUNY, and military veterans below the poverty line will have access to the program, which provides half-priced MetroCards for low-income New Yorkers. By January 2020, open enrollment will expand to all New Yorkers at or below the federal poverty line (a household income of $25,750 for a family of four). The program has also been criticized for its reversal on reduced fares for single trips, but Monday's announcement came with the good news that a pay-per-ride option will be available by mid-March.
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De Blasio signs off on basement apartment conversion program for East New York

Via Flickr

March 5, 2019

De Blasio signs off on basement apartment conversion program for East New York

Certain basement apartments in East New York will be transformed into legal and affordable homes thanks to a new law signed by Mayor Bill de Blasio on Monday. The legislation creates a three-year pilot program that helps homeowners renovate cellar and basement units to meet the new code standards, which include minimum ceiling heights, window sizes, and proper safety requirements. "There are thousands of basement apartments in our City, but too many are illegal and unsafe," de Blasio said in a statement. "This program will help New Yorkers secure safe, affordable homes and give homeowners a new legal source of income."
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Emily Ratajkowski and millionaire hubby live rent free thanks to city’s loft law, Noho landlord says

The loft building at 49 Bleecker Street in Noho. Image: Google maps.

March 4, 2019

Emily Ratajkowski and millionaire hubby live rent free thanks to city’s loft law, Noho landlord says

There have been a lot of discussions recently about the city's lack of affordable living space causing artists to flee the city, and about the relevance of regulations like the Loft Law, created to allow artists to live in neighborhoods like Noho and Soho. The New York Post now brings us the case of millionaire movie producer Sebastian Bear-McClard, 31, and his wife, model/actress Emily Ratajkowski, 27. The pair is reportedly living rent-free in a sprawling Noho loft at 49 Bleecker Street. The pair's landlord, of course, isn't happy with the fact that Bear-McClard, who is apparently worth an estimated $12 million, has been claiming protection under the state's Loft Law since 2017, to the tune of $120,000
unfair advantage, this way

March 4, 2019

City launches campaign to support women-owned businesses in NYC

New York City is home to more than 350,000 women-owned businesses, which generate more than $50 billion in revenue each year. But because women face bigger barriers when starting or growing a company, the businesses fall behind in size and employment compared to businesses run by men. A new campaign launched last week that aims to bring attention to the many women-owned businesses located across the five boroughs. In a partnership between women.nyc, a city initiative to help women navigate careers and finances in NYC, and American Express, the month-long campaign "Shop Women-Owned NYC" kicked off on Friday, coinciding with the start of Women's History Month.
Here's where to shop

Image via CityRealty

March 1, 2019

Cuomo pleads with Amazon to reconsider Long Island City deal

Update 3/1/19, 1:10pm: According to Crain's, Governor Cuomo said today on WNYC's Brian Lehrer Show, "They have given no indication that they would reconsider. I have no reason to believe that Amazon is reconsidering. Would I like them to? Certainly. But I have no reason to believe that." Amazon's Valentine's Day breakup with New York City has been rough on Governor Andrew Cuomo; the New York Times reports that Cuomo has continued to beseech the retail giant to build one of its two new headquarters in Long Island City, Queens, as it had announced plans to do last November. According to the Times, Cuomo has privately assured Amazon officials that he would ease the company's path to any needed approvals and is "working intensely behind the scenes"–including a personal pitch to founder Jeff Bezos–to get Amazon to reconsider.
Baby, come back

Policy

Long Island City restaurant owner traveled to Seattle in an attempt to revive Amazon deal

John Brown Smokehouse on 44th Drive in LIC via Flickr

February 28, 2019

Long Island City restaurant owner traveled to Seattle in an attempt to revive Amazon deal

The owner of a Long Island City barbecue restaurant flew to Seattle on Monday in an attempt to revive the city's deal with Amazon. Josh Bowen, who owns neighborhood joint John Brown Smokehouse, met with executives from the company for two hours, according to Qns.com. Earlier this month, Amazon announced it would no longer open a headquarters at the proposed waterfront location in Queens after facing resistance from local politicians and activist groups. During the meeting, the businessman asked if they would reconsider their decision to pull out of the project. Their response? "Never say never," the executives told him, according to Bowen.
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Policy

Why Ken Griffin’s $238M condo is taxed like it’s worth $9.4 million

220 Central Park South. Image via Vornado Realty Trust and Robert A.M. Stern Architects.

February 28, 2019

Why Ken Griffin’s $238M condo is taxed like it’s worth $9.4 million