ArchiWise tracks 12 stories about real estate, zoning, permitting, and policy in New York City, New York County, New York. We surface the local decisions (rezonings, council debates, infrastructure investment, hazard mapping updates) that change how property gets built and bought. Updated as new coverage publishes.
New York City's pied-à-terre tax, intended for absentee owners, is inadvertently applying to high-value residential properties held in trusts and LLCs, even when a family member is a full-time resident. This creates unexpected tax burdens and ownership complexities for many property holders.
Read articleNews from New York City, New York County, New YorkThe nonprofit Center for Justice Innovation has secured a 34,300-square-foot office lease expansion and extension at 520 Eighth Avenue, consolidating its operations across two floors. This long-term commitment underscores the organization's continued presence in Midtown.
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Marlene Hamad, a residential broker with Platinum Forbes Global Properties, has established a practice spanning New York, Dubai, and other international markets. She aims to create a global real estate advisory business that transcends any single market.
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Global real estate firm Tishman Speyer has finalized a 150-year ground lease for Manhattan's iconic Chrysler Building, committing $235M to a comprehensive renovation aimed at transforming the 77-story tower into a boutique office destination. This move follows a period of decline and legal disputes over the property's previous ownership.
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Qube, a global investment manager, has secured 52,000 square feet of office space at the upcoming 70 Hudson Yards development in Manhattan. This significant pre-lease further anchors the 1.4 million-square-foot tower, which is slated for completion in 2028 and aims to be New York City's first zero-carbon-emission skyscraper.
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A two-decade redevelopment project at 50 Hudson Street in Tribeca has culminated in a six-story mixed-use property featuring a distinctive glass brick facade, a first for New York City, designed by the late Thierry Despont. The project involved extensive restoration and expansion, securing approval from the Landmarks Preservation Commission.
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Benchmark Real Estate Group has obtained a $44.5 million loan from Citi, arranged by JLL, to refinance its 61-unit luxury apartment and retail property at 194 East Second Street in Manhattan's East Village. The financing follows significant capital improvements made since the property's acquisition in 2024.
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Skyline Developers has completed 18W55, a 25-story residential tower at 18 West 55th Street, adding 97 new apartments and over 5,000 square feet of retail space to a prime Midtown location. The building, designed by Morris Adjmi Architects, is already fully occupied after a rapid lease-up period.
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L&L Infinite Real Estate Partners, in a joint venture, has acquired a 575,254-square-foot office tower at 600 Third Avenue in Midtown Manhattan, securing a $215 million acquisition loan from Bain Capital. The building was 92 percent leased at the time of sale.
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State of Play Hospitality is set to launch the first New York City location for Flight Club, an international darts-themed entertainment venue, at 31 Union Square West. The brand specifically sought out the historically significant building, formerly the Bank of Metropolis and Blue Water Grill, for its unique character.
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Investment firm Capital Group has secured a 10-year lease for 70,400 square feet at Rudin’s 345 Park Avenue in Midtown, New York City. This expansion signifies a $38 million investment, projected to create 200 new jobs and establish a new client coastal hub.
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New York City's Department of Buildings has issued a partial stop-work order for steel work above the eighth floor at SL Green Realty's $805 million office-to-residential conversion project at 750 Third Avenue in Midtown East, citing inconsistencies in steel column welding. This marks the third such halt for an office conversion in Manhattan this month amid increased scrutiny on construction safety.
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