Owner of 60 Wall St. makes risky bet with massive 0M revamp
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Owner of 60 Wall St. makes risky bet with massive $250M revamp

ByNews Polite

The struggling Financial District’s brightest hope — and biggest challenge for its owners — is 60 Wall St., the vacant, 1.6 million square-foot tower where Paramount Group launched a marketing and leasing campaign as it completes a $250 million transformation. The 47-story tower developed for JPMorgan in the 1980s more recently belonged…

Massive housing market changes are coming — here’s how you could be affected
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Massive housing market changes are coming — here’s how you could be affected

ByNews Polite

Changes from a landmark settlement affecting broker commissions from America’s largest real estate trade association take effect this weekend, potentially creating a more complex and uncertain buying process for consumers, according to industry experts. The changes made under the National Association of Realtors’ (NAR) $418 million settlement, announced in March, “adds more…

Kroger to slash grocery prices by B after Albertsons acquisition
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Kroger to slash grocery prices by $1B after Albertsons acquisition

ByNews Polite

Grocery giant Kroger pledged to slash prices at Albertsons stores by $1 billion following its proposed acquisition of the rival chain — but Wall Street is increasingly skeptical the deal will win government approval as food inflation continues to roil US politics. Kroger is raising the stakes of the $25…

Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores
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Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores

ByNews Polite

Saks Fifth Avenue is contemplating extending its brand to hotels and luxury apartments as it looks beyond a bleak retail landscape for growth, The Post has learned. On the heels of the blockbuster announcement that Saks’ parent HBC inked a $2.65 billion deal to acquire rival Neiman Marcus, HBC is…

Aging NYC office building shows how to succeed despite trend toward shiny new towers
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Aging NYC office building shows how to succeed despite trend toward shiny new towers

ByNews Polite

Let’s say you own a 60-year-old, near-900,000 square-foot Midtown office building. Demand for space in Midcentury buildings is weak.  A half-billion-dollar mortgage payment is coming up. Do you: Scramble to refinance when lenders are getting cold feet? Complain to the New York Times that it’s the worst season for property owners…

Candy sold at Target, Walmart, Dollar General stores recalled due to salmonella threat
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Candy sold at Target, Walmart, Dollar General stores recalled due to salmonella threat

ByNews Polite

Candy sold at Walmart, Target, Dollar General and other stores across the US has been recalled due to the risk of salmonella poisoning. “Palmer Candy Company, Sioux City, Iowa, is recalling its ‘White Coated Confectionery Items,’ because they have the potential to be contaminated with Salmonella, an organism that can cause…

Turbulence is getting worse on flights — but a pilot says mandatory seat belts won’t help keep people safe
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Turbulence is getting worse on flights — but a pilot says mandatory seat belts won’t help keep people safe

ByNews Polite

Turbulence has become more frequent. It’s a trend American Airlines Captain Dennis Tajer has experienced firsthand.  For the safety of his passengers, Tajer, a pilot for over 30 years, said it’s vital that they wear seat belts at all times while seated, even if it’s not mandated by law. It is for…

NYC PBA backs bill to better police hotels, which owners call `nuclear bomb’
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NYC PBA backs bill to better police hotels, which owners call `nuclear bomb’

ByNews Polite

The union representing New York City police officers has endorsed controversial legislation to more strictly regulate hotels, which owners of inns claim will crush the Big Apple’s lodging industry. Intro. 991 — the Safe Hotels Act — will make it easier to rein in problem-plagued hotels, Police Benevolent Association President…

Chinese-made humanoid robots raise alarms in Congress: ‘Stealth army on our land’
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Chinese-made humanoid robots raise alarms in Congress: ‘Stealth army on our land’

ByNews Polite

Advanced Chinese-made robots with eerily lifelike capabilities are poised to enter the global market — and some US lawmakers are already demanding that they be banned in the US, The Post has learned. While not yet widely publicized, various Chinese companies have begun producing humanoid robots that are capable of…

Goldman Sachs economists raise ‘limited’ risk of US recession to 25% chance: report
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Goldman Sachs economists raise ‘limited’ risk of US recession to 25% chance: report

ByNews Polite

Economists at Goldman Sachs raised the likelihood of the US economy slipping into a recession within the next 12 months from 15% to 25% while continuing to view the risk of recession as limited, according to a report. Goldman economists led by Jan Hatzius, the firm’s chief economist and head of global…