As New York City prepares to elect a new mayor, Queens is ready for a new chapter, courtesy of the outgoing Hizzoner.
On Wednesday, the City Council advanced Long Island City’s rezoning, which is expected to add 14,700 new homes over the next decade.
The City Council’s Land Use Committee and Subcommittee on Zoning and Franchises voted in favor of the rezoning after the Adams administration pledged to invest $1.5 billion in the neighborhood.
The repurposing project is expected to deliver 4,300 affordable apartments and 3.5 million square feet of new commercial space.
In the same breath, the city council also approved a major rezoning of Jamaica; a plan is expected to create 11,800 homes, of which 4,200 will be permanently affordable.
For those keeping score, that would have to be five rezoning changes pushed across the finish line during Eric Adams’ administration. He’s doing his best to stake his claim as the “most pro-housing mayor” in New York history.
The Chetrits, on the other hand, do little to shed a sordid reputation among the tenants. Joseph Chetrit was indicted this week on charges of tenant harassment. He joined brother Meyer as a defendant in a case in which he was accused of harassing elderly Chelsea tenants.
The charges were the latest in an enforcement action by Manhattan authorities to pursue bad behavior by landlords.
It was a similarly bad week for Alex Sapir. The Sapir Corporation has filed for bankruptcy, claiming it can no longer meet its bond payments or cover operating costs. All of the company’s directors resigned, according to a filing with the Tel Aviv Stock Exchange, naming Alex Sapir as controlling shareholder.
Israeli chain Dan Hotels has signed a contract to acquire troubled Nomo Soho for $125 million. The deal would mark Dan Hotels’ first foray into the US market following its recent international expansion in India.
Jonathan Bennett’s AmTrustRE has signed a contract to buy the 22-story 260 Madison Avenue from Sapir for $217 million. The buyer said the 570,000-square-foot property is only 68 percent leased, with annual net operating income of about $10 million.
And speaking of buyers, we take you live to the set of “Shark Tank”:
Hello, sharks. I’m Carrie Chiang from Corcoran. I’m looking for a buyer for a $16 million penthouse on Fifth Avenue. I represent the buyer, while Serena Boardman represents the seller.
The unit has three bedrooms, formal dining and living rooms, a library and terrace, high ceilings and many of the original details.
Mark Cuban, presumably: Sorry, I’m out.
Barbara Corcoran: Count me in!
The only thing more remarkable than the shortest segment in the show’s 16-year history is the fact that three weeks ago Barbara Corcoran listed and sold another penthouse in the neighborhood, about a dozen blocks north of her new digs.
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The City Council reaches an agreement to rezone Long Island City to build 15,000 homes
The city council approves Jamaica’s rezoning to build 12,000 apartments
Joseph Chetrit charged in a case for criminal tenant harassment
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