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140-year-old eatery to open location at Manhattan West
P.J. Clarke’s Oyster Bar & Grille will open at Brookfield Properties' mixed-use development Manhattan West toward the end of the year.<\p> The 7,500-square-foot space features a 50-seat bar that will anchor the space decorated by classic New York City photos and memorabilia.<\p>
5 tips for finding an apartment in NYC as rents continue to rise
In the wake of the Covid-19 pandemic, New York City has experienced a record-high rent surge as the number of housing units on the market remain down from 2020. With new residents coming in and old residents attempting to come back, finding housing may have never been more difficult for New Yorkers and new residents alike.<\p> I know this from experience, moving from Cleveland to cover commercial real estate and economic development for the New York Business Journal as rising demand for housing squeezed NYC, driving asking rent prices up in one of the tightest housing markets in the country.<\p>
Early intervention services provider takes space in the Bronx
Genius Therapy School, a provider of early intervention program services in New York City, will open at a retail redevelopment in the Bronx within the next six months.<\p> The approximately 11,000-square-foot space, located at 1451 Westchester Ave. in Soundview, includes part of the ground floor and all of the second floor.<\p>
Traveling this summer? How the airlines rank for delays and more
If you’re flying this summer, your best chance for an on-time flight based on recent performance could be Delta Air Lines. Worried about canceled flights? Alaska Airlines is a concern. Apprehensive about getting bumped off your flight? Maybe steer clear of Frontier Airlines. And worried about mishandled baggage? Try Allegiant Air.<\p> That’s according to the U.S. Department of Transportation’s latest Air Travel Consumer Report produced by the Office of Aviation Consumer Protection. The report details quarterly flight delays, canceled flights, mishandled baggage and flight bumping by airlines.<\p>
Small-business grants you can apply for this month
Despite the seemingly endless number of challenges that come along with being a small-business owner, the vast majority of entrepreneurs recommend it. <\p> A survey of employed adults and small-business owners by Justworks and The Harris Poll earlier this year revealed that 93% of small-business owners would recommend business ownership to others, with 59% saying it was easier than they had anticipated. <\p>
Wong Brothers Realty make another deal with Skyline Tower developers
Right after selling the Golden Imperial Palace building in Brooklyn's Sunset Park neighborhood, Wong Brothers Realty has made another deal with the developers of Skyline Tower in Long Island City.<\p> The Queens-based developer has acquired more than a dozen residential condos at the development, which is the tallest building in Queens.<\p>
Mexican restaurant to open on NYC's Lower East Side
Son Del North, a Mexican restaurant, will open June 13 in Manhattan’s Lower East Side neighborhood.<\p> The New York City restaurant pays homage to culinary traditions from northern Mexico, and its menu features six burritos inspired by various regions in Mexico. Burritos range from $8 to $16.<\p>
More workers are staying with their current employer in 2024
Most U.S. employees are now choosing to stay with their jobs instead of looking for new ones, a sharp turnaround from the job reshuffling that was common during the Covid-19 pandemic. <\p> A new survey by global advisory firm WTW found 72% of employees are choosing to stay with their employer — up substantially from the 53% who said the same thing in 2022. Back then, about 25% of workers were open to job offers, compared to just 11% now.<\p>
Prospective homebuyers are missing out as sellers cut their prices
The chronically troublesome housing market is seeing more price drops, but that doesn’t necessarily translate into relief for homebuyers.<\p> Data from real estate firm Redfin Corp. shows 6.4% of active listings on the platform had a price drop through the week ending May 26. While that's not a massive portion of listings, the percentage is substantially higher than the 4.4% of listings with price drops recorded during the same time in 2023.<\p>
A rising cost for companies and employees takes hold as summer arrives
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> In the coming weeks, schools around the nation will be out, and many employees will find themselves scrambling for child care options.<\p>
WeWork secures final court approval in restructuring
New York-based coworking company WeWork Inc. (NYSE: WE) is in the final stages of restructuring its business after filing for Chapter 11 bankruptcy protection more than six months ago. Real estate software company Yardi Systems Inc. is poised to become WeWork’s majority owner when the process concludes.<\p> On Thursday, WeWork's Plan of Reorganization was confirmed by a judge with the U.S. Bankruptcy Court for the District of New Jersey, where it filed Chapter 11 in November. The approval follows months of restructuring — in particular, WeWork amending lease terms with dozens of landlords across the globe, a process that began nine months ago. <\p>
Developers buy former Golden Imperial Palace building, set demo plans
Wong Brothers Realty, a New York City-based real estate company, has sold a commercial property in Brooklyn's Sunset Park neighborhood.<\p> Development companies affiliated with developers Chris Jiashu Xu and Ki Tai Yeung have acquired a 102-year-old, 74,000-square-foot building at 6201 Sixth Ave. The duo paid Wong Brothers $21.4 million for its 50% stake in the property, records show. Xu and Yeung previously worked together to deliver Queens' tallest skyscraper.<\p>
Ukranian eatery to open in Brooklyn with a 49-year lease
New York City Ukrainian eatery Veselka will open its first Brooklyn location next Wednesday.<\p> The restaurant will occupy a 5,000-square-foot space located at 646 Lorimer St. in Williamsburg.<\p>
Labor union renews its lease in Lower Manhattan
The Writers Guild of America East is staying at its New York City office with a 16-year lease renewal at 250 Hudson St.<\p> The labor union will continue to occupy a 16,750-square-foot space on part of the seventh floor of the office tower. The WGAE has been at the property since 2010.<\p>
Marymount Manhattan College to merge with Boston college
Marymount Manhattan College in New York City is merging with Northeastern University, the Boston college's third such merger with a smaller school in the past five years.<\p> The merger with Marymount Manhattan, a small private liberal arts school, gives the Boston school a foothold in the country’s largest city. It will also add to Northeastern’s growing number of satellite campuses, which spans from Oakland and Seattle on the West Coast to international locations in London and Toronto. Marymount Manhattan would become Northeastern's 14th campus.<\p>
Women’s fashion brand to open its first US store in New York City
Varley, a contemporary fashion brand for women, will open its first U.S. store in Manhattan’s SoHo neighborhood sometime during the fall.<\p> The store will be in a 2,200-square-foot space located at 402 W. Broadway. Unlike other stores in Varley’s portfolio, this one will have larger windows, more natural light and extra space.<\p>
8-story commercial building sold in Manhattan's Chinatown
A building undergoing renovations in Manhattan's Chinatown has been sold to New Jersey-based developer CSP Properties.<\p> CSP, an affiliate of developer Yacov Smouha, bought an eight-story building at 78 Walker St. for $16 million, New York City property records show.<\p>
Lawsuit targeting small-business grant program is tossed
A judge has tossed a lawsuit targeting Progressive Insurance and small-business funding platform Hello Alice for a grant program offered to Black small business owners.<\p> The decision, handed down by the U.S. District Court for Northern Ohio, found plaintiff Nathan Roberts, owner of Cleveland-based Freedom Truck DIspatch LLC, lacked the standing to sue the companies over a grant program it offered to Black small-business owners to purchase a new truck.<\p>
Iguana New York building sells in Hell's Kitchen
A building formerly home to Mexican restaurant Iguana New York has been sold in Hell's Kitchen to a developer that has been targeting Manhattan for new housing projects.<\p> An affiliate of Flushing, Queens-based developer Hiwin Group USA bought the building at 238 W. 54th St. for $21 million, city records show.<\p>
Resume gaps aren't the dealbreaker they once were, but there's a catch
Job seekers worried about gaps in their resume might still have to deal with some pushback from hiring managers, but the market today has become more forgiving to such openings than it once was.<\p> According to a recent Express Employment Professionals-Harris Poll survey, while 36% of hiring managers said they might be deterred by applicants' unexplained work gaps, the vast majority (95%) believe there are valid reasons to explain career gaps. The top reasons cited were health issues, staying home with a child, going back to school and caring for an elderly parent.<\p>
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