LandlordsNY Briefing for May 14th

The Bank of New York Mellon and the Empire State Development Corporation will provide Delta Airlines with $1.4 billion to help finance the renovation of Terminals C and D at LaGuardia Airport. The total cost of the renovations are expected to be $4 billion. The deal became necessary after the Goldman Sachs-managed fund that was initially financing the project, West Street Infrastructure Partners III, pulled out of the deal, leaving Delta on the hook for the $3.4 billion they had initially pledged to see the project through.

The Commercial Observer has more.


Supporters of the Merchant’s House Museum won a victory last week when the Land Use subcommittee voted against rezoning text amendments that would allow for the development of a hotel on a site adjacent to the museum (27 East 4th Street), which is currently occupied by a single-story warehouse used by food cart vendors. Advocates for the museum claim that the construction of a hotel at the site would damage the structural integrity of the museum, which is considered the only family home from the 19th century that has been preserved intact.

Though the decision is only a recommendation that the City Council and the City Planning Commission may chose to ignore, the most vocal opponents of the plan in Community Board 2 appear to have swayed Carlina Rivera, the local councilperson. If she sides with the Community Board and preservationists who want to protect the 186-year-old museum from potential damage, the development is dead in the water.

Bowery Boogie has more.


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

Argentina’s currency is tanking, dozens of Palestinians were killed as they tried to cross a border fence into Israel en masse as a means of protesting the United States’ decision to move their embassy to Jerusalem, the U.S. is evidently considering putting sanctions on European companies in Iran, American countries are becoming increasingly frustrated with many of the policy positions of the U.S., and President Donald Trump appears willing to pardon the Chinese phone maker ZTE for violating trade controls the U.S. put in place against nations like North Korea and Iran. Furthermore, an order by the U.S. Commerce Department enacted last month that prohibits U.S. firms from selling components and software to the Chinese phone producer was responsible for effectively shutting down the company, and now may be the reason why millions of Americans will be cut off from security patches and other updates on their Android phones. The Supreme Court has ruled that states have the power to determine if they want to allow sports betting or not, CEO pay and performance is not linked in any meaningful way, and a bill that was written by drug companies and passed into law in 2016 is coming back to hurt many of the lawmakers who advocated for the bill. Americans pay a lot of money for lackluster health care, California is experimenting with a study to see if an improved diet can improve the health of chronically ill people and ultimately cut down on the amount the state spends on providing conventional forms of treatment for diseases like diabetes and hypertension, the World Health Organization hopes to eliminate trans fats around the world by 2023, and city buses emit far less pollution than they did even as of 2000. Idaho is the fastest-growing state in the U.S., Wall Street is becoming more interested in house flipping, and former Speaker of the New York State Assembly Sheldon Silver (D-Lower Manhattan) has been convicted of corruption. Duane Reade stores on the Upper West Side have become major targets for thieves; the rest of the news coming from the Upper West Side includes a scuffle among three dogs, a rare bird, and a mysterious smell because this is evidently the most boring neighborhood in New York City; at least one ninja has burglarized two Jewish institutions in Kew Gardens; New Yorkers tend to like living in buildings with amenities and a sense of community; and the City Council is urging Mayor Bill de Blasio to offer half-price MetroCards to low-income New Yorkers.

There may soon be beer in space, scientists may one day create bioluminescent trees to light city streets, and Mark Hamill evidently saved the TV show Brooklyn Nine-Nine with one tweet. Coyotes have settled in the Bronx, raccoons and possums have overrun Brooklyn’s Marine Park, there’s a pizza squirrel in Queens, Swedish owl thefts are on the rise, a Florida high school used a caged tiger as a prop at their prom, a bear broke into a car in New Jersey to eat two dozen cupcakes, a British woman was menaced by a beaver, a cat by the name of Pawfficer Donut is the newest member of the Troy (Michigan) Police Department, and dog selfies are a thing.

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