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January 25, 2024

SL Green To Raise $1B NYC Debt Fund, Forecasts Growth After Painful Year

The Marriott Marquis New York To Host 2024 New York Forecast Event Jan. 31

Manhattan’s largest office owner is predicting a change in its fortunes in 2024, raising a large fund and raising the guidance it is giving its shareholders on its anticipated returns this year.

SL Green To Raise $1B NYC Debt Fund, Forecasts Growth After Painful Year

SL Green will begin fundraising for a $1B opportunity debt fund this month, it announced in its fourth-quarter earnings report, released Wednesday. The office giant also reported a $155M net loss for the quarter, up from $64.3M in Q4 2022, and a year-over-year drop in…

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Investors Sue Thor Equities Over Lack Of Distributions From Fifth Avenue Building

Investors Sue Thor Equities Over Lack Of Distributions From Fifth Avenue Building

Two investors are taking Joe Sitt's Thor Equities to court, claiming they weren't paid distributions for their investments in one of Thor's properties on Fifth Avenue.The investors say Thor is refusing to show its investors its books and hasn’t paid any distributions to…

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Adams Pledges New Housing On Public Land, Crackdown On Illegal Weed Shops In State Of The City

Adams Pledges New Housing On Public Land, Crackdown On Illegal Weed Shops In State Of The City  

At his third State of the City address as New York City mayor, Eric Adams said he has a plan to add 12,000 housing units in the city, pushing development at city-owned sites in an attempt to make progress on his administration’s “moonshot” housing goals unveiled in last year's speech.

“It is no secret that this city and this nation are facing a massive housing crisis,” Adams said during the address on Wednesday. “Sixty years of injustice and underdevelopment have brought us to the brink.”

Addressing the crowd at Hostos Community College in the South Bronx, Adams vowed to fight for measures designed to tackle NYC’s housing supply issues via his City of Yes initiative, including the latest part of his administration’s housing plan. Dubbed 24 in '24, the proposal plans to push forward with preservation and…

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Goldman Raises $2.6B To Lend To Real Estate As Banks Pull Back

Goldman Raises $2.6B To Lend To Real Estate As Banks Pull Back  

Investment banking giant Goldman Sachs has raised $2.6B for a new fund to lend to real estate, taking advantage of wariness about the sector from traditional lenders.  A filing with the Securities and Exchange Commission earlier this month showed that Goldman had raised money for West Street…

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