A rendering of 625 West 57th Street

The Durst Organization is looking to entice wealthy foreigners to invest in two high-profile Manhattan projects through a visa program that would reward their investment with a green card, the Wall Street Journal reported. [more]

A rendering of 625 West 57th Street

Final City Council approval for Durst Fetner Residential’s development at 625 West 57th Street is being stymied by a dispute over an affordable housing provision, Crain’s reported. The council was expected to vote Tuesday on the fate of the 32-story, 753-unit pyramid-shaped development in Hell’s Kitchen near the Hudson River, which had received approval from the City Planning Commission in December. But the affordable housing issue pushed the meeting to today. As part of the city’s 80/20 program, 150 units are slated to be affordable, a provision for which Durst Fetner received tax abatements…. [more]