Million Acres: New York Gov Plans to Convert Empty CRE to Residential: Should Investors Cheer or Jeer?
New York Gov. Andrew Cuomo has plans to convert empty commercial space in Manhattan into affordable housing, and the local real estate and hoteliers boards are aboard. In his 11th state of the state address, Cuomo on Monday proposed legislation that would open a five-year window for the conversion of office buildings and hotels into residential use.
Crain’s New York Business: Hard-hit hotels, restaurants and theaters expect slow recovery, even with federal funds
Social distancing, empty streets, darkened stages and shuttered lobbies highlight the devastation brought upon New York’s hospitality industry. Those within the sector argue a combination of federal aid and overhauled regulations are what’s needed to spark a post-Covid-19 turnaround.
amNY: DSS responds to strained homeless relations in Chelsea
The Department of Social Services (DSS) has weighed-in on the ever-growing social war in Chelsea.
Politico: 9 months into pandemic, hard-hit industries face uncertain future
Tim Dolan was about to celebrate the 10th anniversary of his business, which runs Broadway-related walking tours, when Covid-19 hit New York City last spring.
New York Real Estate Journal: 2020: A year to remember like no other
2020 will certainly go down in history—a global pandemic; political and social unrest; a newly elected President; a first quarter stock market downturn followed by a record breaking year end; anti-trust litigation on big tech – Facebook; residual impact of the pandemic resulting in high unemployment and numerous business closures; and the recent release of the COVID-19 vaccine – Pfizer Bio N Tech.
Bloomberg BNN: Manhattan hotels’ holiday season darkens with shutdown risk near
At Manhattan’s hotels, there are few signs of the festive fervor that the holiday season typically brings.
The Global Enterprise News in Korea: [Exclusive Foreign Affairs] Marriott axes more than 800 workers at Times Square hotel
Marriott plans to permanently lay off more than 800 workers at its Times Square hotel as the coronavirus crisis keeps New York City’s hospitality industry in a chokehold.
New York Post: Marriott axes more than 800 workers at Times Square hotel
Marriott plans to permanently lay off more than 800 workers at its Times Square hotel as the coronavirus crisis keeps New York City’s hospitality industry in a chokehold.