City To Renovate Coney Island Boardwalk, Court Developers For 1,500 Units  
   
   
 

As Eric Adams faces calls for removal, his office is advancing plans for a major redevelopment of Coney Island.

 
 
NYC Mayor's Office/ONE Architecture & Urbanism
 
   
 

Adams issued an RFP for developers to build a 500-unit mixed-income project and announced plans to spend $42M renovating the Abe Stark Sports Center, where local ice hockey players have practiced since the 1970s, and rebuild parts of the iconic boardwalk.

Long-term, the mayor wants to add 1,000 more units as part of a comprehensive redevelopment of the South Brooklyn icon.

Read more about the plans here.

— Ciara Long and Sasha Jones

 
 

Today's Rundown

 
 

Newmark Names Howard Lutnick's Replacements: The Senate confirmed Lutnick as commerce secretary Tuesday evening, prompting New York-based Newmark to name replacements for the two leadership roles he held with the commercial real estate firm, including elevating longtime CEO Barry Gosin. Read more.

Waldorf Astoria’s Projected Condo Sellout Is $460M: Acquiring and renovating the historic Park Avenue property cost roughly $4B. Its reinvention is almost complete, with the first sales closing earlier this month. Read more

Addressing Sinking Oceanfront Condo Towers 'Should Be High Priority,' Researchers Say: On Miami Beach's barrier islands, 35 buildings are sinking at a faster than expected rate, a study found. While none have been deemed unsafe, the authors of the report are calling for more research into the causes and dangers. Read more.

 
 

What Else Is Happening?

 
 
Behind California Forever's Silicon Valley-Backed Push To Build A New City For The Future Behind California Forever's Silicon Valley-Backed Push To Build A New City For The Future
 
   
 
Manufacturing Demand Surges As Biden's Spending Meets Trump's Tough Talk Manufacturing Demand Surges As Biden's Spending Meets Trump's Tough Talk
 
   
 
Forever 21 Reportedly In Talks With Liquidators Forever 21 Reportedly In Talks With Liquidators
 
   
 
With Retail Pharmacies Under The Weather, CRE Grapples For The Right Prescription With Retail Pharmacies Under The Weather, CRE Grapples For The Right Prescription
 
   
 

The Finish Line

 
 

Brokerage earnings for Q4 have wrapped, with Newmark projecting 40% growth by the end of next year and JLL capturing a 16% jump in revenue thanks to office leasing and capital markets improvements. Were there any brokerage results that surprised you? Let us know!

The New York City Rundown is written by New York Reporters Sasha Jones and Ciara Long and edited by Deputy Managing Editor Ethan Rothstein. We’d love your feedback and news tips: sasha.jones@bisnow.com and ciara.long@bisnow.com.

 
   
 
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