The Data Drop: In a pricey world, NYC’s builders pivot to redevelopments
Welcome to The Data Drop by TRD Data, a weekly look at the numbers shaping real estate. This week, we are looking at how persistently high financing costs are shaping development in the Big Apple. An analysis of city permit data over the past year revealed that the city’s builders are shifting gea
Resorts World, Cirrus buy first project for workforce housing initiative
Cirrus Real Estate Partners and Resorts World are putting their chips where their mouths are, acquiring a site for workforce housing. Cirrus and the gaming company bought the site at 93-30 165th Street in Jamaica, Queens, for $46.1 million, Crain’s reported. The joint venture plans to redevelop the
The Daily Dirt: Electrical fires surge after rent law
If old buildings have outdated, unsafe electrical systems, why don’t landlords upgrade them? Because some don’t have $1 million or more on hand, or the ability to borrow it. In a piece about an increase in Bronx apartment building fires caused by faulty wiring, Gothamist noted that “owners can apply
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