NYC Zoning
Revised state law would clear the way for bigger resi buildings Opponents worry this will invite more supertalls
New York City may soon see another surge in supertall skyscrapers.
The city is pushing for changes to a state law that would allow developers to nearly double the maximum square footage permitted in new residential developments.
Two new bills propose to revise zoning rules that currently limit the size of the city s residential buildings, Crain s reported. Mayor Bill de Blasio s administration hopes the law change will help encourage the creation of affordable housing in high-density commercial areas. The mayor first announced that he wanted to change the st阿爱上海同城 
ate law in 2014 as part of his efforts to bring more affordable housing to the city. The city on Thursday requested changes to the bills — which were proposed by Assemblyman Keith Wright and state Sen. Simcha Felder — that 上海贵族宝贝论坛 
would limit the areas that could be rezoned and how much bigger the buildings could be.
It would allow the city, through full public rev上海贵族宝贝 
iew and approvals, to permit more residential growth in high-d上海千花网交友 
ensity commercial areas, a City Planning spokesperson told the website. We’ll be able to secure mandatory affordable housing where right now only luxury condos are rising.
Opponents, however, argue that the policy shift could herald a wave of upzoning in the city and lead to more supertalls joining the skyline. A spokesperson for Wright told Crain s that the bill likely won t progress before the end of the legislative session on June 16. [Crain s] — Kathryn Brenzel
Tags: city planning commission
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Mad
NoMad site offering 135,0
Wholesale and Department Store Union (RWDSU), according to sources.
illion for a site at Madison Avenue and East 30th Street, where it s partnering with Shanghai-based Fosun Group to build a 180-unit block-through tower at 15 East 30th Street.
co-op The West 80th Street apartment was last asking $1.6M 
rst Upper West Side apartment.
which means she is selling the apartment at a loss. It features a private roof deck, two wood-burning fireplaces and hardwood floors, according to the listing. Schumer put the apartment on the market just over a year ago, with an asking price of $2 million. It was discounted a few times, and in August was slashed from $1.7 million to $1.6 million, a drop of 9 percent.
siderable step up from the West 80th location. In October, she bought a 4,500-square-foot, five-bedroom duplex at 190 Riverside Drive for a reported $12
.15 million. [Variety] Miriam Hall
its in East New York The mixed-use building would als
o include 3,660 square feet of c
ommercia
l space
our Privacy Policy.
ing for rents of over $200 psf Olayan carrying out $300M revamp of 550 Madison 
ilip Johnson and John Burgee. After the overhaul, Olayan plans to charge tenants $115 to $210 a square foot, the Wall Street Journal reported.
k, especially given the fierce competition outside the Plaza District (like Hudson Yards and Lower Manhattan). Com
mercial brokers said the amenities will be key. Today s office tenants want gyms, cafeterias, dining options, conference rooms and lounges.
s The Real Deal first reported, Olayan purchased the building from the Chetrit Group in 2016 for $1.4 billion after Chetrit abandoned plans to convert the property s upper floors into residential condos. The company, which is based in Saudi Arabia, has become a major player in real estate in the U.S., with a stake in the Related Companies and a seat on the board of Blackstone Group’s real estate funds. [WSJ] — Kathryn Brenzel 
Bullock in Cyprus, which eventually made its way into U.S. courts after she refused to cooperate. In the U.S., agents from Brown Harris Stevens were subpoenaed for information on Bullock and the mansions she was selling at the time in the Hamptons. 
$2 billion, however subsequent reports of foreclosures on her properties and a lawsuit leveled against her by a Palm Beach socialite Gina DiSabatino over missing art threw her career into question; however the Post reports she recently sold her Southampton estate (which The Real Deal reported was on the market in 2014) for nearly $30 m
illion double its 2005 price.
, homeowners control more than $14.4 trillion in equity, up by nearly $1 trillion during 2017. This explosive growth is being driven by increases in home values and selling prices, tight inventories of houses for sale, and pay-downs of principal on existing mortgages.
to invest in a new business venture. How much can you get? Most lenders require that the total mortgage indebtedness secured by your home not exceed 80 percent of the property s value $320,000 in this case. So assuming that you qualify on credit and other criteria, you might be able to pull out up to $120,000 from your equity.
. Your house is valued at $400,000, you ve got a $200,000 balance on a first mortgage at 3.25 percent that you snagged when rates were near historic lows. Assuming you ve got solid credit, you might qualify for a $100,000 HELOC at an annual percentage rate (APR) of 3.99 percent, with monthly interest-only payments of $327.95.
t rates, your interest costs likely will increase.
re set aside as affordable. Only three of those proposals included plans to meet the 20-percent affordability mandate, and the rest were exempted because they were amendments to plans that had been approved before the new rules went into effect.
t in Brooklyn and Joe McMillan (Credit: Google Maps)
Development looks to be bringing luxury apartments to the heart of Williamsburg, though it s unclear whether they ll be rentals or condops.
of Buildings.
red to have went into contract on a unit asking $16.6 million.
Williamsburg 
t tax rate on the value of estates that exceeds $1 billion, and Representative Alexandria Ocasio-Cortez has proposed a top tax rate of 70 percent on income of $10 million or more.
owhere.”
f Art ISG founding partners finalize breakup: Craig Studnicky takes over bro…Asset management founder buys Manalapan estateMoshe Popack pays $12M for senior living facility in MiamiGet breaking real estate news delivered straight to your inbox. Sign u…
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