New York Business News
Finance
New York City Real Estate Groups Push for Tax Breaks
News Summary As the deadline for tax incentives approaches, New York City’s real estate groups are ramping up efforts to extend tax breaks for office rentals. With concerns over job...
Businesses in New York Raise Prices Due to Increased Tariffs
News Summary A recent survey by the Federal Reserve Bank of New York reveals that businesses in the region are passing higher tariff costs onto consumers. Manufacturers report average tariff...
New York Medicaid Cuts Raise Health Coverage Concerns
News Summary New York State leaders are sounding alarms over proposed Medicaid cuts that could jeopardize the Essential Plan health coverage for low-income residents. Recent warnings indicate that the bill...
Sam Altman Discusses AI’s Economic Future in NYC
News Summary In a recent gathering in New York City, OpenAI CEO Sam Altman addressed the future of artificial intelligence and its economic implications for the city. Attended by influential...
New York City Real Estate Sees High-Profile Transactions
News Summary New York City’s real estate market is experiencing a dynamic shift with significant transactions across various sectors. Notable leases include Tom Ford Fashion’s 11,118 square feet at 500...
New York Ranks Second Most Expensive State for Startups
News Summary A recent study by Simplify LLC reveals that New York is ranked as the second most expensive state to start a business, following California. High labor costs, increased...
Oswego County Welcomes Two New Cannabis Dispensaries
News Summary Oswego County has opened two new cannabis dispensaries, Leafy Wonders in Fulton and FlynnStoned in Oswego. This marks a significant expansion in New York’s legal cannabis market, which...
Decline in International Tourism Hits New York City
News Summary New York City faces a sharp decline in international tourism, with spending expected to drop by $12.5 billion this year. Concerns over entry policies and political rhetoric are...
Gainsborough Studios Sues Vornado Realty Trust Over Damages
News Summary Gainsborough Studios has filed a lawsuit against Vornado Realty Trust, claiming over $1.5 million in damages from ongoing construction at a nearby luxury project. The historic co-op alleges...
Construction
Bronx Development Site Sold for $11.5 Million
News Summary A significant real estate transaction occurred in the Kingsbridge neighborhood of the Bronx, where a property at 205 W. 230th St. was sold for $11.5 million. The buyer...
New York State Announces $42 Million Infrastructure Investment
News Summary New York State has unveiled two major rehabilitation projects for Interstate 88, totaling $42 million, aimed at improving roadway safety and supporting economic growth. The first project involves...
BXP Unveils Plans for New Office Tower at 343 Madison Avenue
News Summary BXP has announced plans to construct a new 46-story office tower at 343 Madison Avenue in New York City, estimated at $2 billion. The speculative project reflects strong...
McFarland Johnson Expands Operations with New Texas Office
News Summary McFarland Johnson, an engineering firm based in Binghamton, has opened a new office in Brownsville, Texas, to support infrastructure development in the region. This expansion is part of...
Memorial Sloan Kettering Reduces Height of New Pavilion
News Summary Memorial Sloan Kettering has announced a reduction in the height of its new hospital tower on East 67th Street, decreasing it from 557 feet to 481 feet. This...
Super PAC Supporting Andrew Cuomo Raises $10 Million in NYC Mayoral Race
News Summary The super PAC ‘Fix the City,’ backing Andrew Cuomo in the NYC mayoral race, has raised $10 million, making it the largest outside spending force in the city’s...
Williams Companies Advances Gas Pipeline Projects in New York
News Summary Williams Companies is proceeding with plans to construct two natural gas pipelines, the Constitution and Northeast Supply Enhancement, in New York. This decision marks a shift after previous...
CATL’s Shares Surge in Hong Kong Debut Amid Market Tensions
News Summary Contemporary Amperex Technology Ltd. (CATL) saw a remarkable 16% rise in shares on its Hong Kong debut, marking the largest IPO of the year. With approximately HK$35.7 billion...
Concerns Grow Over New York’s Proposed Antitrust Changes
News Summary Business groups in New York are alerting lawmakers about the potential negative impact of the 21st Century Antitrust Act on the economy. Proposed updates to antitrust laws might...
Real Estate & Properties
Bronx Development Site Sold for $11.5 Million
News Summary A significant real estate transaction occurred in the Kingsbridge neighborhood of the Bronx, where a property at 205 W. 230th St. was sold for $11.5 million. The buyer...
New York City Real Estate Groups Push for Tax Breaks
News Summary As the deadline for tax incentives approaches, New York City’s real estate groups are ramping up efforts to extend tax breaks for office rentals. With concerns over job...
New York City Enacts FARE Act to Abolish Broker Fees
News Summary New York City has introduced the Fairness in Apartment Rental Expenses (FARE) Act, abolishing upfront broker fees for renters. Effective June 11, 2025, the legislation mandates that broker...
New York City Real Estate Sees High-Profile Transactions
News Summary New York City’s real estate market is experiencing a dynamic shift with significant transactions across various sectors. Notable leases include Tom Ford Fashion’s 11,118 square feet at 500...
BXP Unveils Plans for New Office Tower at 343 Madison Avenue
News Summary BXP has announced plans to construct a new 46-story office tower at 343 Madison Avenue in New York City, estimated at $2 billion. The speculative project reflects strong...
Gainsborough Studios Sues Vornado Realty Trust Over Damages
News Summary Gainsborough Studios has filed a lawsuit against Vornado Realty Trust, claiming over $1.5 million in damages from ongoing construction at a nearby luxury project. The historic co-op alleges...
New Business Improvement District Established in East Harlem
News Summary New York City has launched a new Business Improvement District (BID) along East 125th Street in East Harlem to enhance local businesses and improve community safety. Unanimously approved...
Cooper Union Takes Control of Iconic Chrysler Building
News Summary The Chrysler Building in New York City is now under Cooper Union’s control after RFR Realty defaulted on a $21 million rent payment. Cooper Union terminated RFR’s lease...
Surge in Commercial Real Estate Activity in New York City
News Summary New York City is witnessing a notable increase in commercial real estate transactions, particularly in office space and hospitality. Key developments include leases signed by legal firms and...
Marketing
Boyd Artesian Well Company Inducted into Historic Business Registry
News Summary Boyd Artesian Well Company, a family-owned business serving Putnam, Dutchess, and Westchester counties for over 50 years, has been inducted into the New York State Historic Business Preservation...
2025 Digiday Content Marketing Awards Highlight Innovative Campaigns
News Summary The 2025 Digiday Content Marketing Awards showcased remarkable achievements in video content and branded campaigns. With a focus on storytelling, brands like L’Oréal and e.l.f. Cosmetics exemplified innovation,...
