Manhattan recorded 98 applications for new building permits in the first four months of 2008, up 46 percent from the same period last year. Chelsea and Hell’s Kitchen’s Community Board 4 saw 16 permit requests and Midtown’s Community Board 5 had 10 requests, both received only 5 last year. Experts say developers are trying to finalize deals before the market worsens and the 421-a tax exemption program expires, which The Real Deal reported on in this month’s issue.
|Landlord, tenant groups clash at RGB hearing over potential rent increases|
|Neighbors sue to block Extell’s UWS tower after city OKs amended plans|
|Brooklyn developer overcharged tenants by more than $1M at new 421a building: lawsuit|
|If the state kills the vacancy bonus, a new one could respawn|
|Brookland hit with eviction notice at its office, suits over unpaid construction work|
|Corcoran Group toughens clawbacks for departing agents|
|Knotel in talks for roughly $200M Series C funding round: sources|