The Daily Dirt: NYC’s World Cup windfall is looking shaky
The World Cup is quickly approaching — but it’s so far unclear whether the tournament will be a boon for real estate. Early predictions from FIFA estimated the month-long soccer competition would yield more than $3 billion worth of economic activity in the New York City area, however The City reported that some city officials are now saying the expense of hosting could outweigh the earnings. Projections from Comptroller Mark Levine show the World Cup is expected to boost tax revenue by $55 million — a number his office expects to be offset by an additional $70 million in spending […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
“Freak accident”: Pfizer building developer denies risk of
collapse
Deal Diary: The $80K Deal That Turned Into a 24-Unit
Building
Policy Pro: HPD floats 421a rule change to keep more
projects alive
Meet the developers behind the Pfizer building
conversion
NYCHA plumber’s $465K payday sparks probe into outside
work
Michael Shabsels lists Westhampton home for $75K a
month
Buckling ex-Pfizer HQ hit with multiple DOB violations last
year
Namdar Group grabs additional financing in Jersey
City
Prana Investments’ NYC multifamily portfolio faces 14
foreclosure lawsuits
Vacant rent-stabilized apartment rate climbs despite
persistent housing shortage
