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April 5, 2023

Chetrit Claims Lender 'Stole' Midtown Hotel Development Through Unfair Auction

Hear From Rubenstein's Joseph Zuber On The Current Investment Market In Brooklyn June 1

After losing control of a hotel development near Penn Station to foreclosure, the Chetrit Group claims the group that took over the property effectively stole $20M in equity.

Chetrit Claims Lender 'Stole' Midtown Hotel Development Through Unfair Auction

In a lawsuit filed Tuesday in New York State Supreme Court, Chetrit accused Maverick Real Estate Partners of running an improper foreclosure auction for the unfinished project at 255 West 34th St., which resulted in Maverick's winning bid of just $100K. Chetrit claims Maverick violated Uniform Commercial Code…

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SPECIAL REPORT: Real Estate’s Efforts To Cut Carbon Emissions ‘May As Well Be Doing Nothing’

The carbon reduction targets put in place by the world’s biggest property owners and managers don’t include almost 90% of the emissions they create, an investigation by Bisnow has found. 

The vast majority of the world’s 75 largest institutional investors, REITs and investment managers neither track the emissions created by the tenants of their buildings nor the carbon created during the development of buildings. 

Even among the companies that have set targets to decarbonize their portfolios, less than a quarter count these emissions, which are referred to as Scope 3, as part of their stated campaign to reach net-zero. 

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Advocates Call On Adams To Spare Housing From Budget-Slashing Mandate

Advocates Call On Adams To Spare Housing From Budget-Slashing Mandate  

Nearly all New York City agencies have been instructed to cut their budgets by 4% for three years starting in fiscal year 2024, a mandate that has raised concerns for housing advocates. Mayor Eric Adams' budget director, Jacques Jiha, told agency heads in a letter that…

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