Every weekday The Real Deal rounds up New York’s biggest real estate news. We update this page throughout the day starting at 9 a.m. Please send any tips or deals to [email protected].
This page was last updated at 12:40 p.m.
Video produced by Sabrina He
The Department of Buildings is conducting “surprise inspections.” Construction injuries were on the rise from 2015 to 2018, increasing 61 percent in that period, according to city data. But those numbers have turned around in the first nine months of the year, largely because of the team of inspectors, which has carried out 20,166 inspections since it’s launch in 2018. [NYT]
Robert Nelson nixed plans for facial recognition software at a Brownsville complex. The town hall at Atlantic Plaza towers, a 700-unit rent-stabilized complex, was meant to be a conversation between concerned tenants and representatives for elected officials. But Nelson, the president of Nelson Management, surprised tenants by showing up and announcing he’d cancel plans to use the software altogether. [Gothamist]
James Whelan had his first sit-down interview since taking the reins at REBNY. He says that the group has to do things differently going forward. The group has expanded Reggie Thomas’ role — he now spearheads city, state and federal affairs — and will build a team around him. [TRD]
These stores are defying the retail norm. Department stores like Macy’s are struggling while discount stores, like Target, Walmart, TJMaxx and Marshalls have increased their market share. Macy’s sales fell 3.9 percent at stores that have been open for at least a year. Target’s physical stores and online shop saw a 4.5 percent bump, with a 10 percent increase in clothing sales. [CNN]
Starting next year, buildings will get grades for how efficient they are. Earlier this year, the New York City Council signed the Climate Mobilization Act into law. The requirement to post the grade in a prominent location will apply to buildings with 25,000 square feet or more. [NYT]
Rep. Ilhan Omar’s housing plan has a $1 trillion price tag. The plan seeks to create 12 million affordable units and repeal the Faircloth Amendment, which has barred the construction of public housing units since 1998. The plan comes on the heels of plans released by Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez. [TRD]
The co-op of a late philanthropist and socialite is asking $50 million. Nine months after the passing of Jayne Wrightsman, her opulent pad is for sale. The 14-room co-op apartment, which faces the park at East 63rd Street, spans 7,000 square feet. [NYT]
Sen. Kamala Harris and Rep. Maxine Waters are the latest federal politicians to introduce a housing bill. The proposal, dubbed the Housing is Infrastructure Act, would invest $70 billion in the construction of new public housing and $10 billion to ease zoning restrictions for new affordable housing. The pair also proposed $6 billion to invest in housing for the elderly, the disabled or veterans. [CNBC]
SL Green Realty leased out the 11th floor of 485 Lexington Avenue. Chicago-based accounting firm Crowe — which also has offices in 19 other states, London and India — is relocating from the Feil Organization’s building at 488 Madison Avenue. It is taking 45,000 square feet at SL Green’s Midtown office tower. [CO]
Here’s a glimpse at Sunset Park’s $136 million manufacturing district. The New York City Economic Development Corporation released the plans for Made in NY, which hopes to draw garment manufacturers pushed out of Manhattan. A 200,000-square-foot building called The Hub will be the centerpiece of the development on the Bush Terminal site. The plan is to offer five- to 10-year leases at $16 to $25 per square foot. [Curbed]
Compiled by Georgia Kromrei