NYC Is the Worst State for Rich People; MTA Is Still Short $15B

By Diane Pham

March 23, 2015

NYC Is the Worst State for Rich People; MTA Is Still Short $15B

With the state’s new fiscal year looming, there’s still no specific plan in place to close the MTA’s $15B funding gap. [NYDN]
Sorry, but there won’t be an Andy Warhol Museum coming to Essex Crossing after all. [BB]
The former historic church at 344 West 36th Street slated to come down for a new hotel. [NYP]
There are a handful of residential buildings planned for Brooklyn’s Broadway Triangle, but opponents of the project are saying it needs to be taller and hold more affordable housing. Who the apartments should be designed for is also an issue—the site sits on three different community boards representing Hasids, blacks and Hispanics. [Crain’s]
Wealthy New Yorkers pay the highest taxes in the nation on incomes of $150,000-plus. [Crain’s]

Images: The 10 most taxing states (L); Subway (R)

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$50M penthouse is the last residence available at the Upper East Side’s famed Surrey Hotel

By Aaron Ginsburg

Manhattan's famed Surrey Hotel is making a comeback. Following bankruptcy proceedings, new owners, and a renovation, the 100-year-old Art Deco landmark at 20 East 76th Street on the Upper East Side reopened last month as a condo hotel, with 100 hotel rooms and 14 condos, part of the Surrey Residences. Now, after a whisper sales campaign, just one remaining apartment is about to hit the market: a three-bedroom duplex penthouse asking $50,000,000. The sprawling residence, the building's most expensive, offers 5,195 square feet plus 2,346 square feet across three terraces and a private rooftop.
tour the penthouse