LandlordsNY Briefing for May 15th

The market for offices in Westchester County is improving. The overall vacancy rate in the first quarter of 2017 declined by 3.1 percent from the first quarter of last year, and now stands at 21.7 percent. The decrease is most notable along the I-287 corridor, which runs from Port Chester, through White Plains, and then crosses the Hudson River as the Tappan Zee Bridge.

What is fueling the increased interest in the suburban county seems to be conversions. Many of the former office spaces are being repurposed and are becoming research facilities, particularly for the medical and space industries.

The Wall Street Journal has more.

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The New York City Council is considering a bill that would attempt to better regulate a certain type of foam used during the construction of new buildings. Many Brooklynites are more than familiar with the foam not only because it is commonly used to insulate energy efficient buildings, but because it frequently breaks loose from buildings in the midst of construction. When this happens, it looks like snow. Unlike snow, however, the foam is not biodegradable. It clogs storm drains and pollutes waterways.

The proposed legislation would expand the definition of dust that is required to be mitigated during construction to include these larger particulates. It would not ban the material.

The Brooklyn Eagle has more.

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In a Landlords New York Minute – A (Very) Brief Look Around the World

Protests erupted in Moscow when the mayor of the city proposed a law to demolish and replace thousands of apartment buildings, Nigerian stocks are surging, cholera has broken out in Yemen, and Portugal won the Eurovision Song Contest. One of the worst cyberattacks in history took place on Friday; $12.4 billion in wages were stolen from low-wage workers in 2015; Kansas is out of money after giving tax breaks to businesses that saw no reason to expand or improve operations; President Donald Trump’s lawyer, Michael Cohen, posted a picture of his scantily clad daughter who is evidently not named Electra, on social media; the president reportedly tapes conversations with some degree of regularity; and there will be hop-ons. A new analysis reveals that the results of the 2016 election were impacted by a decline in participation by various voting blocs more so than a surge in participation from previously apathetic voters. Congressional Republicans are beginning to move away from the president, The Angriest Boy in the World needs better handlers, television is becoming less popular, and Detroit now has a light rail line. In local news, manufacturing in New York has unexpectedly contracted, an immigration officer was turned away from an elementary school in Maspeth, and commuters will soon have to deal with a 25 percent reduction of services at Penn Station.

Robots are coming for white collar jobs, Wolf Blitzer saw a turtle, a large whale was rotting off the coast of Indonesia, the naked man hugging a dead shark was a police officer and not Jim McElwain, and a camel bit a woman at Jefferson Davis’ old house. Lake Ontario is gobbling up properties in Upstate New York. In Connecticut, foundations are crumbling. New Jersey may soon legalize recreational marijuana, a kid drank way too much milk in South Glens Falls, a bunch of grain silos in Buffalo may become a national park, and there are only 17 places in Brooklyn where you can legally dance.

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