All articles by Aaron Ginsburg

September 6, 2023

NYC property tax has risen disproportionately for working-class homeowners, report finds

Property tax in New York City has risen since the pandemic, with most of the burden placed on working and middle-class homeowners, according to a report. State Comptroller Thomas DiNapoli on Wednesday released a new report that found property tax bills have continued to increase, despite property values decreasing for a large number of condos, co-ops, and rental apartments across the city. According to DiNapoli, the way the city calculates property taxes makes lower-valued properties pay a higher property tax, putting a bigger burden on lower-income New Yorkers and less on the wealthy.
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Policy

You can ride retro NYC subway trains this weekend

Image courtesy of the New York Transit Museum

September 5, 2023

You can ride retro NYC subway trains this weekend

By Aaron Ginsburg

This weekend, take a special ride on a historic New York City subway train. The New York Transit Museum's annual Parade of Trains event returns on September 9 and September 10 with a selection of vintage trains running between Brighton Beach and Kings Highway on the B and Q lines. Admission is free with subway fare.
All ABoard

New York City begins crackdown on short-term rentals

Photo courtesy of baaelectronics on Flickr

September 5, 2023

New York City begins crackdown on short-term rentals

By Aaron Ginsburg

Could this be the end of Airbnb in New York City? The city on Tuesday officially kicked off enforcement of new regulations on short-term rentals, preventing property owners from renting their homes for less than 30 days unless registered and verified by the city. Hosts who fail to do so may face fines of up to $5,000, while Airbnb could face fines of up to $1,500 for transactions on unverified rentals.
Learn more about the future of airbnb's in nyc

Policy

NYC’s Paris Cafe celebrates 150th birthday with events and deals

Photo courtesy of Jenna Murray

September 5, 2023

NYC’s Paris Cafe celebrates 150th birthday with events and deals

By Aaron Ginsburg

One of New York City's oldest restaurants is celebrating its 150th birthday with tons of exciting events and deals throughout September. Located at 119 South Street in the South Street Seaport, the Paris Cafe was established in 1873. Forced to close in 2020 because of the pandemic, the restaurant reopened late last year following a restoration.
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Food & Dining

NYC transit system still widely inaccessible despite recent improvements

Image courtesy of Marc A. Hermann / MTA New York City Transit on Flickr

September 1, 2023

NYC transit system still widely inaccessible despite recent improvements

By Aaron Ginsburg

While the Metropolitan Transportation Authority has picked up the pace of making New York City's public transit system more accessible, the agency still has a long way to go before it can be totally accessible. Gov. Kathy Hochul and the MTA on Thursday announced the completion of the project making Grand Street L subway station fully accessible, marking the fourth station across the five boroughs that have been made fully accessible this year. Despite the agency's recent efforts, the city's transit system is still incredibly difficult for riders with disabilities to navigate because a majority of stations lack elevators, ramps, and other accessible features.
LEARN MORE ABOUT THE MTA'S ACCESSIBILITY

September 1, 2023

16 things to do in NYC this Labor Day Weekend

By Aaron Ginsburg

Labor Day is a holiday spent recognizing American workers. The holiday's history can be traced to New York City in the late 19th century as unions and labor movements gained traction within the working class. Calls for a national holiday resounded amongst laborers, and the first Labor Day Parade was held in Union Square on September 5, 1882. In addition to being a celebration of unions, the holiday also represents the unofficial last weekend of summer. Ahead, find out some of the best ways to celebrate the long weekend in NYC, from attending the historic Labor Day Parade on Fifth Avenue to witnessing "one-wheel madness" at the NYC Unicycle Festival.
Full list here

Events & Things To Do

New York to prioritize ‘pro-housing’ localities for $650M in funding

Photo by Daniel Schludi on Unsplash

August 31, 2023

New York to prioritize ‘pro-housing’ localities for $650M in funding

By Aaron Ginsburg

New York is moving forward with a plan to spur housing development across the state. Gov. Kathy Hochul on Thursday officially launched the Pro-Housing Communities Program, an effort that will prioritize up to $650 million in funding to localities across New York that are committed to creating housing. As part of the initiative, certified Pro-Housing Communities will have priority over other localities when applying for funding through the program, which has begun accepting applications.
read more about hochul's initiative

Policy

110 middle-income apartments available on the Harlem River in Mott Haven, from $2,885/month

Rendering courtesy of S9 Architecture

August 31, 2023

110 middle-income apartments available on the Harlem River in Mott Haven, from $2,885/month

By Aaron Ginsburg

Applications are now being accepted for 110 middle-income apartments in a new residential development on the Mott Haven waterfront. Located at 40 Bruckner Boulevard, the 12-story mixed-use building offers brand-new luxury units and indoor and outdoor amenities. New Yorkers earning 130 percent of the area median income, or between $98,915 for a single person annually and $198,250 for a household of five, can apply for the apartments, which range from $2,885/month studios to $3,669/month two bedrooms.
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Affordable Housing

$92M condo at 432 Park enters contract, priciest deal of 2023 so far

Photo by Miikka A. on Unsplash

August 30, 2023

$92M condo at 432 Park enters contract, priciest deal of 2023 so far

By Aaron Ginsburg

A $92 million condo at 432 Park Avenue in Midtown Manhattan has entered contract, the biggest deal of the year in New York City so far. The five-bedroom apartment on the skyscraper's 79th floor first hit the market in September 2021 for $135 million but underwent a significant price cut this spring, according to CityRealty.
DETAILS THIS WAY

Manhattan’s first-ever film and TV studio coming to Pier 94

Renderings courtesy of Sunset Studios

August 30, 2023

Manhattan’s first-ever film and TV studio coming to Pier 94

By Aaron Ginsburg

Vornado Realty Trust is joining forces with industry giants Blackstone and Hudson Pacific Properties to transform Manhattan's Pier 94 into the borough's first-ever major TV and film studio production complex. Work is expected to begin later this year on the 266,000-square-foot campus, known as Sunset Pier 94 Studios, which will include six soundstages, offices, a writers' room, and public amenities along Manhattan's West Side, according to the Wall Street Journal. The $350 million project could be completed by the end of 2025.
Learn more about Manhattan's first film studio

Architecture And Design

New Downtown Brooklyn condo tower 9 Chapel has terraces that act like front porches

By Aaron Ginsburg

New renderings were released this week of 9 Chapel Street, a unique luxury condo tower under construction in Downtown Brooklyn. Developed by design-driven firm Tankhouse and designed by SO-IL, the 14-story building makes outdoor space a central feature, with open-air terraces that act as front porches, a mix of covered and uncovered private outdoor space, and weather-protected loggias. The goal of the design is to create a feeling that is "more house than high rise," as a press release describes.
Take a look

Times Square water main break leads to major subway delays

Photo courtesy of Marc A. Hermann / MTA on Flickr

August 29, 2023

Times Square water main break leads to major subway delays

By Aaron Ginsburg

A water main installed in 1896 broke in Times Square on Tuesday morning, stopping train service on several subway lines during morning rush hour. Due to water flooding the subway tracks, the Metropolitan Transportation Authority suspended or rerouted service on the 1, 2, and 3 lines, which also affected the 4 and 5 lines. The area between 39th and 42nd Streets along Seventh Avenue was shut down due to flooding and is expected to remain closed for the rest of the day.
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Transit

NYC Council approves five-year permit for Madison Square Garden

Photo by Eden, Janine and Jim on Flickr

August 29, 2023

NYC Council approves five-year permit for Madison Square Garden

By Aaron Ginsburg

Madison Square Garden will remain above Penn Station, but for not as long as its owners want. Two New York City Council committees on Monday voted to renew the arena's special permit for five years, which would be the shortest operating permit given to the Garden if approved by the full Council next month. MSG owner James Dolan had hoped to secure a permanent extension of the operating permit which expired earlier this year.
details here

Lottery opens for new senior apartments in Chelsea, from $686/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

August 28, 2023

Lottery opens for new senior apartments in Chelsea, from $686/month

By Aaron Ginsburg

A housing lottery opened this week at a new apartment building in Chelsea. Located at 278 Eighth Avenue, the 14-story mixed-use building will have 190 total apartments, with 25 percent set aside for seniors, and a ground-floor Target store. Through the lottery, 44 apartments are available to those who are, or have a family member who is, at least 62 years of age and earns 40, 60, and 80 percent of the area median income. An additional four apartments are open to those who earn 130 percent of the area median income. Apartments are priced from $686/month studios to $3,753/month two-bedrooms.
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Affordable Housing

100 percent affordable housing to replace two Boerum Hill parking lots

Image courtesy of the NYC Department of Housing Preservation and Development

August 28, 2023

100 percent affordable housing to replace two Boerum Hill parking lots

By Aaron Ginsburg

New York City is moving forward with a development plan that will bring hundreds of new affordable apartments to a bustling part of Brooklyn. The city's Department of Housing Preservation and Development last week began community outreach for two 100 percent affordable developments on city-owned parking lots in Boerum Hill. The sites, located at 153 Nevins Street and 108-114 Third Avenue, will include 125 new apartments for families and seniors.
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Affordable Housing

NYC’s Gramercy Park Hotel to reopen with rooftop bar and Danny Meyer restaurant

Image via WikiCommons

August 28, 2023

NYC’s Gramercy Park Hotel to reopen with rooftop bar and Danny Meyer restaurant

By Aaron Ginsburg

After closing during the pandemic, Manhattan's famed Gramercy Park Hotel will reopen under new ownership, the Wall Street Journal reported. MCR Hotels, the nation's third-largest hotel owner and operator, has purchased a 99-year lease to the hotel, located directly across from the exclusive Gramercy Park, for roughly $50 million and expects to reopen the property as one of the city's most luxurious hotels in 2025 following renovations. Plans include upgrades to the lobby, the 197 guest rooms, the first-floor restaurant (Danny Meyer's Maialino), and the 7,000-square-foot rooftop bar.
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Tap-to-pay OMNY system finally comes to the Roosevelt Island Tram

Photo courtesy of Marc A. Hermann / MTA on Flickr

August 25, 2023

Tap-to-pay OMNY system finally comes to the Roosevelt Island Tram

By Aaron Ginsburg

New Yorkers are now able to tap to pay to board the Roosevelt Island Tramway. The Metropolitan Transportation Authority on Thursday announced the tram, which takes riders 250 feet above the East River between Manhattan's east side and Roosevelt Island in just four minutes, is the first non-MTA-operated service to accept OMNY. To pay the fare, riders can now tap their credit cards or mobile devices at the 59th Street and 2nd Avenue tram station in Manhattan and at Tramway Plaza on Roosevelt Island.
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13,000+ rent-stabilized units in NYC have been vacant for multiple years

Photo © 6sqft

August 25, 2023

13,000+ rent-stabilized units in NYC have been vacant for multiple years

By Aaron Ginsburg

Upwards of 13,000 rent-stabilized homes in New York City have sat vacant over the past two years, according to a new report. Out of 42,275 rent-stabilized apartments listed in April 2022, many of which were marked as "newly vacant," 13,362 units remained empty for two consecutive years, up from 12,300 in 2021, according to the report by the city's Independent Budget Office. These data points are making officials question whether the units are vacant due to tenants moving in and out or whether they have been "warehoused," or deliberately taken off the market, according to Gothamist.
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All photos courtesy of NYC Parks

August 24, 2023

NYC unveils ‘home for retired playground animals’ in Queens

By Aaron Ginsburg

Six treasured playground animal sculptures have retired to Flushing Meadows-Corona Park in Queens. Located next to the park's iconic Unisphere, the "Home for Retired Playground Animals," will now house the past-their-prime statues that have been enjoyed by kids in city parks for decades. Currently on display in the space are one aardvark, one camel, one frog, one elephant, and two dolphin sculptures.
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Architecture And Design

60 middle-income apartments available at new South Bronx waterfront rental, from $2,700/month

All images courtesy of the NYC Department of Housing Preservation and Development

August 24, 2023

60 middle-income apartments available at new South Bronx waterfront rental, from $2,700/month

By Aaron Ginsburg

A housing lottery opened this week for 60 middle-income units in a new high-rise residential tower on the South Bronx waterfront. Located at 2413 Third Avenue in Mott Haven, the building, dubbed the Maven, offers 200 brand-new luxury units and expansive indoor and outdoor amenities. New Yorkers earning 130 of the area median income, or between $92,572 for a single person annually and $227,630 for a household of seven, can apply for the apartments, priced at $2,700/month for one-bedrooms, $3,235/month for two-bedrooms, and $3,500/month for three-bedrooms.
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Affordable Housing

The Met announces major Harlem Renaissance exhibition

Archibald J. Motley, Jr. (American, 1891–1981), Black Belt, 1934, Oil on canvas, Framed: 33 in. × 40 5/8 in. × 1 3/4 in. (83.8 × 103.2 × 4.4 cm), Collection of the Hampton University Museum, Hampton, Virginia, © Estate of Archibald John Motley Jr. All reserved rights 2023 / Bridgeman Images Image courtesy Hampton University

August 23, 2023

The Met announces major Harlem Renaissance exhibition

By Aaron Ginsburg

The Metropolitan Museum of Art next year will host an exhibition establishing the Harlem Renaissance as the first-ever African-American-led international art movement. Debuting in February 2024, "The Harlem Renaissance and Transatlantic Modernism" will explore the ways in which Black artists depicted everyday life in the new Black cities that developed across the United States from the 1920s through the 1940s, like New York City's Harlem and Chicago's South Side. As the first art museum survey of the Harlem Renaissance in the city since 1987, the exhibition includes roughly 160 works of painting, sculpture, film, photography, and more.
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Events & Things To Do

Photo via Wikimedia

August 22, 2023

Feds approve asylum seeker shelter at Brooklyn’s Floyd Bennett Field

By Aaron Ginsburg

Brooklyn's Floyd Bennett Field will be home to New York City's latest migrant shelter. Gov. Kathy Hochul on Monday announced a deal was reached for the federal government to provide New York State with a proposed lease of the former naval air station in Marine Park. The governor said the new Humanitarian Emergency Relief and Response Center (HERRC) will be able to house up to 2,000 single adult asylum seekers. While the governor initially requested that the federal government pick up the bill for constructing and staffing the shelter, the state agreed to cover the expenses, according to Gothamist.
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Policy

Pedestrian, public space upgrades slated for Broadway near Union Square

Broadway north of Madison Square, part of the Broadway Vision phase completed earlier this year. Image courtesy of the NYC Department of Transportation

August 22, 2023

Pedestrian, public space upgrades slated for Broadway near Union Square

By Aaron Ginsburg

New York City wants to better connect the Flatiron District and Union Square. As part of an expansion of the city's "Broadway Vision" plan, Mayor Eric Adams on Monday announced plans to upgrade public space on Broadway from East 21st Street to East 17th Street, including bike lanes, pedestrian space, and expanded outdoor dining. The Department of Transportation will launch public outreach for the expansion this week, gathering feedback on the improvements, specifically, a new two-way bike boulevard.
read more about broadway vision

Policy

$80M penthouse sale at 220 Central Park South is one of year’s biggest deals

Photo of 220 Central Park South in front of 111 West 57th Street (cropped) by Jim Henderson via Wikimedia Commons

August 21, 2023

$80M penthouse sale at 220 Central Park South is one of year’s biggest deals

By Aaron Ginsburg

One of New York City's best-selling condo buildings locked in one of the biggest deals of the year so far. An 8,000-square-foot duplex penthouse at 220 Central Park South on Billionaires' Row is selling for roughly $80 million, the Wall Street Journal first reported. The seller is linked to investment firm Nima Capital, which paid around $65.6 million for the property in October 2020.
Details here

Real Estate Trends

August 21, 2023

Pre-Civil War church in Bed-Stuy to be demolished

By Aaron Ginsburg

A historic church in Bed-Stuy constructed in 1856 is set to be razed and will likely be replaced with apartments, according to Brownstoner. Last week an application was filed for the full demolition of the St. Lucy-St. Patrick's Roman Catholic Church at 295 Willoughby Avenue and 920 Kent Avenue. The church agreed to sell the property in July for $12.25 million to developer Water Capital Group. Due to the size of the lot and zoning in the area, investment firm JLL marketed the site as a "rare opportunity to develop a sizable luxury residential building in a burgeoning Brooklyn neighborhood."
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