June 30, 2022
New York City Councilman Keith Powers introduced legislation Thursday that could suspend the commercial rent tax on businesses below 96th Street in Manhattan, a move designed to bring relief to retail tenants still recovering from COVID-19 losses.
If passed, businesses renting space in commercial buildings won’t have to pay an effective rate of 3.9 percent of their annual rent for another three years, the prospect of which has at least one business association breathing a sigh of relief.
August 4, 2023
400 new affordable apartments were announced for the Financial District this past week. Roughly a third of the new buildings at 5 World Trade Center, will be set aside for middle- and working-class New Yorkers, with 80 of those apartments earmarked for people who lived and worked near the old World Trade Center as well… Read more »
May 22, 2023
“The mortgage refinancing boom is over, but its impact will be seen for decades to come”. Fed data shows that about 14 million mortgages were refinanced during the pandemic period starting in March 2020. Some 64% were considered “rate refinances,” or homeowners looking to take advantage of lower borrowing costs. Average savings totaled about $220… Read more »
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