May 2025

Adams’ surprisingly sunny $115B budget adds spending despite looming downturn

Mayor Eric Adams proposed a surprisingly sunny $115.1 billion budget on Thursday, making new investments to create a universal K-5 after-school program and increase police headcount even as experts urge restraint to prepare for federal aid cuts and a possible recession. The revised executive budget for Fiscal Year 2026 is a modest increase from the […]

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It’s Official: Ari Emanuel Buys Frieze in a $200 Million Deal

Ari Emanuel stands in front of an abstract, text-based artwork, wearing a dark blazer and white shirt, smiling slightly at the camera.” width=”970″ height=”647″ data-caption=’Ari Emanuel’s acquisition of Frieze marks a major shift in the global art fair landscape at a time of financial recalibration across the industry. <span class=”lazyload media-credit”>Photo by Amy Sussman/Getty Images</span>’>

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Touting $115B ‘Best Budget Ever,’ Mayor Adams Braves Looming Trump and Economy Risks

Trying to bolster his reelection prospects, Mayor Eric Adams Thursday released a “best ever” $115.1 billion budget proposal that cites more than 70 investments ranging from education (including Pre-K and after-school programs), housing vouchers, food assistance and increased funds for nonprofit social service providers. But amid the hoopla — and a joyous speech held at

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Manhattan office leasing activity down in April, Colliers finds

Demand for Manhattan office space slowed down last month, as it continues to chase its prepandemic highs. Manhattan office-leasing volume declined 26% in April from March, according to the newest report on demand from Colliers International. However, the office vacancy rate fell to 15.7%, the lowest since February 2021. The drop in leasing volume, while

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