Mayor Eric Adams unveiled details of his $650 million investment to tackle homelessness and mental illness in a plan that increases the number of beds for unhoused individuals and leans more heavily on city hospitals. Adams will funnel about $106 million to opening about 900 so-called safe haven beds, which have fewer requirements than a […]
Mayor details $650M plan to reduce homelessness and mental illness Read More »
Citigroup said it will repurchase $20 billion worth of its stock in the coming years — unleashing billions of excess capital the bank had been keeping on hand in order to meet a key ask from shareholders. The announcement was part of the bank’s stronger-than-expected results for the fourth quarter, in which revenue rose across
Citigroup soars as Fraser plans to buy back $20B of stock Read More »
One of Walgreen’s most visible anti-shoplifting strategies is having unintended consequences. Tim Wentworth, CEO of Walgreens Boots Alliance, the parent company of Duane Reade, acknowledged to investors during a Jan. 10 earnings call that the company’s asset protection tactic of locking merchandise to prevent retail theft has slowed sales. “It does impact how sales work
Anti-shoplifting effort is hurting sales, Duane Reade parent says Read More »
Residential real estate is poised to lead a comeback in New York City property values amid a housing shortage and still high interest rates capping sales. The market value of the city’s more than 1 million properties is projected to rise 5.7% to $1.6 trillion, in the upcoming fiscal year that begins on July 1,
City apartment values expected to jump 7.3% Read More »
A Harlem church may be having second thoughts about turning over its century-old stone-walled building to a developer. The Roman Catholic Church of Saint Paul and Holy Rosary has backed out of an agreement to sell its longtime home at 442 and 444 E. 119th St. to Queens-based Kahen Development Group, according to a lawsuit
Fate of historic Harlem church slated for demolition now uncertain Read More »
Last year couldn’t end soon enough for most residential real estate brokers. Existing home sales nationwide in September hit their lowest level since 2010, thanks to scant inventory and mortgage rates of nearly 7%. Also in 2024, the National Association of Realtors agreed to pay $418 million and change members’ compensation practices after a jury found that
After stormy years, residential broker Compass finally turns a profit Read More »
