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“New York charging $500 million fee for NYC casino license” The operators awarded licenses to run any of the three New York City-area casinos will have to pay the state at least a $500 million fee for the chance at rolling the dice, according to new rules approved by a state siting board Tuesday. The…
“Jay-Z joins Times Square team bidding for prized NYC casino” SL Green and Caesars Entertainment have a glam new partner in their hoped-for Times Square casino — Brooklyn-born billionaire rapper and entertainment impresario Jay-Z and his Roc Nation, Realty Check has learned. The three-way partnership, to be announced at SL Green’s annual investor conference on Monday,…
“Times Square casino gets more blowback from Broadway theaters” Craps! The Broadway League doubled down on its opposition to a proposal for a casino at a Times Square office building, threatening a prolonged war between the politically potent theater organization and the city’s largest commercial landlord. The League, which represents theater owners and producers in…
“Franklin Templeton ‘putting everything under one roof’ on Madison Ave” When Franklin Templeton inked a nearly 350,000 square-foot lease at SL Green’s One Madison Avenue last week, it wasn’t to reduce the amount of space it has at seven other Manhattan locations. Unlike many corporate “consolidations” that are mainly a way to save on rent,…
“#Crowne Plaza Hotel in Times Square entangled in legal battle” The towering Crowne Plaza Hotel — a once brightly lit but now mostly dark skyscraper in the heart of West Midtown — is entangled in a bitter legal struggle with no easy end in sight. Publicly traded developer/landlord SL Green owns a sliver of land beneath the 46-story…
“#Hospital for Special Surgery to expand with $35 million gift” There will be more rooms with a view for patients at the Hospital for Special Surgery. The pre-eminent facility for musculoskeletal health and orthopedics, a New York institution since 1863, is embarking on a spectacular waterfront expansion. Aided by a $35 million gift from philanthropist…
“#Manhattan’s office-leasing picture in a downturn” More from: Amid intensifying calls to convert some older Manhattan office buildings to residential — including by the influential Real Estate Board of New York — comes even more grim news about the pandemic-battered market. It’s scary to think about, but Manhattan’s office-leasing picture is worsening by the month….
“#SL Green’s One Madison tower is a $2.3B bet against COVID-19” Bucking fears of a bleak future for office buildings, SL Green is taking the plunge on a $2.3 billion, speculative project that bets on a revived city three years from now. On Monday, the publicly traded developer started work on One Madison — a…