The Real Deal - New York Real Estate News

Who made de Blasio’s real estate reopening council — and who didn’t

Posted: 09 May 2020 11:37 AM PDT

It’s rarely a good sign when a press release is issued late on a Friday afternoon, as was the case this week when Mayor Bill de Blasio unveiled his construction and real estate advisory council. That’s when the fewest people (and journalists) are paying attention to the news, which makes it a good time to air dirty laundry or just put out information not viewed as having PR value. But perhaps the panel names were

Cuomo extended the state’s eviction order — but there’s a big catch

Posted: 09 May 2020 11:06 AM PDT

Gov. Andrew Cuomo announced this week that he had extended the state’s eviction moratorium through August — but downplayed how much the measure would change after June 20. The governor said Thursday that the eviction moratorium would last another two months, but would only apply to tenants unable to pay rent due to Covid-19, or who qualify for unemployment. That’s a significant departure from the earlier ban, which didn’t limit which residential and commercial tenants

Coronavirus could set back the pro-density movement

Posted: 09 May 2020 11:00 AM PDT

The movement toward dense, transit-adjacent development picked up steam over the last few years, but the coronavirus pandemic might prove to be a big setback. The pandemic has forced a quick national pivot toward telecommuting, which some think could undercut the utility of living near transit, according to the New York Times. If you don’t need to go into the office so often, why not spread out a bit? Density advocates and lawmakers will likely

Bars and music venues across America worry they’ll never reopen

Posted: 09 May 2020 09:00 AM PDT

The coronavirus pandemic has forced scores of small bars and clubs across the country to shut their doors and some owners fear they won’t open back up. Entertainment operators, both corporate-backed large companies like Live Nation and small independent proprietors, are feeling the crunch of the coronavirus pandemic. But many smaller outfits don’t have the strong financial backing or access to credit that corporate operators have, and some owners told the New York Times they’re

Will insurers cover coronavirus-related business losses? We may soon find out

Posted: 09 May 2020 06:00 AM PDT

A business insurer’s position that it isn’t required to cover coronavirus-related losses is set to face a legal litmus test. A Las Vegas-based company with a CNA Financial’s subsidiary’s policy filed a class-action lawsuit against the company in a Chicago federal court on Monday, according to Crain’s. The company, Vegas Image, owns a distributor of gambling-themed candy and toys. The company argues that its policy doesn’t explicitly rule out losses “from the spread of viruses.”