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Atlantic Yards Project in Brooklyn Clears Legal Hurdle

The last major obstacle to a groundbreaking for the massive $4.9 billion Atlantic Yards development in Brooklyn fell Tuesday when New York’s highest court, the Court of Appeals, dismissed a challenge to the state’s use of eminent domain on behalf of ...

From CHARLES V. BAGLI, The New York Times,  24 Nov 2009

Related Topics: Bruce Ratner,  New Jersey Nets,  Long Island Rail Road

City to Buy 7 Acres in Coney Island, With an Eye on Revival

After a year of ultimatums, threats and stop-and-go negotiations, the Bloomberg administration has agreed to pay $95.7 million to a developer for seven acres in the heart of Coney Island, in a crucial step forward for its vision of turning the faded ...

From CHARLES V. BAGLI, The New York Times,  11 Nov 2009

Related Topics: Astroland,  Michael Bloomberg

In Surprise Move, Casino Magnate Abandons Bid for Aqueduct Racetrack

Stephen A. Wynn, the Las Vegas gambling impresario, on Wednesday dropped out of the bidding to revive the Aqueduct racetrack in Queens with 4,500 electronic slot machines, just two days before competing operators were to deliver their final offers for ...

From CHARLES V. BAGLI, The New York Times,  4 Nov 2009

Related Topics: Stephen A. Wynn,  David A Paterson,  Wynn Resorts, Limited,  Penn National Gaming, Inc.

Flipping a Coin, Dividing an Empire

HENRY ELGHANAYAN marched into a conference room high above Third Avenue in Midtown Manhattan on March 4. After nearly four decades as partners, he and two of his brothers were dividing up their $3 billion real estate empire. As if it were some ...

From CHARLES V. BAGLI, The New York Times,  31 Oct 2009

Related Topics: Harry B. Helmsley

State Subpoenas Hotelier in Suit Against Contractor

The state attorney general’s office served subpoenas at the home and businesses of a developer of budget hotels Wednesday afternoon as part of a widening investigation into a construction contractor who investigators say routinely underpaid hundreds of ...

From CHARLES V. BAGLI, The New York Times,  29 Oct 2009

Related Topics: Sam Chang,  Andrew Cuomo,  District Council of Carpenters

Impact of Ruling in Stuyvesant Town Case Could Take Years to Determine

Despite all the wailing and celebrating by opposing parties, it may be years before landlords and tenants in New York City know the full impact of a decision by the state’s highest court on Thursday that the owners of two major residential complexes ...

From CHARLES V. BAGLI, The New York Times,  24 Oct 2009

Related Topics: Tishman Speyer Properties,  Peter Cooper,  BlackRock Realty

Court Deals Blow to Owner of Huge Apartment Complex

The Court of Appeals dealt a financial blow on Thursday morning to the already beleaguered owners of the sprawling Stuyvesant Town and Peter Cooper Village complexes in Manhattan when it ruled that they improperly began charging market rents on ...

From CHARLES V. BAGLI, The New York Times,  22 Oct 2009

Related Topics: Tishman Speyer Properties,  BlackRock, Inc.,  Peter Cooper,  BlackRock Realty,  MetLife, Inc.

Construction Bust May Have Bottomed Out, Report Says

After five consecutive years in which residential construction exceeded 30,000 new apartments and houses, fewer than 6,300 units will be built this year, according to the latest report from the New York Building Congress, an industry trade group. The ...

From CHARLES V. BAGLI, The New York Times,  21 Oct 2009

Related Topics: Port Authority of New York and New Jersey,  Douglas Durst,  Boston Properties, Inc.,  Vornado Realty Trust,  Buildings Department

Contractor Is Accused of Cheating Minority Workers Out of Wages

During the city’s recent construction boom, developers could not build fast enough to meet the demand for luxury housing and hotels, contractors had more work than they could handle and many union workers made a lot of money. The lawsuit is seeking $4 ...

From CHARLES V. BAGLI, The New York Times,  15 Oct 2009

Related Topics: Sam Chang,  District Council of Carpenters

Suit Challenges Sale of Land to Atlantic Yards Developer

With the Atlantic Yards project in Brooklyn inching closer to a ground-breaking, opponents of the 22-acre development filed another lawsuit on Tuesday morning challenging the Metropolitan Transportation Authority’s decision to sell the developer a ...

From CHARLES V. BAGLI, The New York Times,  13 Oct 2009

Related Topics: Bruce Ratner,  Metropolitan Transportation Authority,  New Jersey Nets,  Velmanette Montgomery,  U.S. Democratic Party

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