May 2025

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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Trump’s First 100 Days: The Remaking of America’s Cultural, Artistic and Academic Landscape

The first 100 days of the second Trump administration have been remarkably eventful across multiple fronts, particularly in culture and education. In his early months in office, Trump has repeatedly demonstrated his capacity to seize the moment, consolidating power through an aggressive spate of executive orders and by putting pressure on American institutions. While executive

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State to launch homeless outreach centers in subway stations

Gov. Kathy Hochul is launching what she described Thursday as a network of 24/7 “welcome centers” in the city’s subway, where health professionals and social workers will connect homeless New Yorkers with shelter options and supportive services.  The governor’s office told Crain’s that the state will launch up to five facilities in subway stations to

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MTA to cut costs instead of borrowing more to fund upgrades

The Metropolitan Transportation Authority plans to cut costs to balance a $68.4 billion multiyear capital plan designed to modernize the city’s long-neglected mass-transit system. The agency will not take on more debt to help find $3 billion of savings from this year through 2029, according to Janno Lieber, the MTA’s chief executive officer. Earlier this

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