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New York Business Journal

New York Business Journal Breaking local business news from the New York metropolitan area.

The New York Business Journal is the leading source for business news and data for the New York area. The New York Business Journal publishes all the information and insights you need to succeed in business — through our website, our email products and our events and awards programs.

Mission: The New York Business Journal is the leading source for business news and data for the New York metropolitan area. The New York Business Journal publishes all the information and insights you need to succeed in business — through our website, our email products and our events and awards programs.

Kamber Management is spending millions to renovate the lobby, atrium and amenity space at this Midtown property.

06/17/2020

Midtown office tower will be renovated for post-Covid-19

Kamber Management is spending millions to renovate the lobby, atrium and amenity space at this Midtown property.

The airline said that you either will wear a mask at all times or you will be placed on an internal travel restriction l...

06/17/2020

United Airlines enacts tougher mask-wearing rules for passengers

The airline said that you either will wear a mask at all times or you will be placed on an internal travel restriction list.

The U.S. Open tennis tournament is going ahead as originally scheduled but without fans in attendance at the Billie Jean...

06/17/2020

U.S. Open will be played in August but without spectators

The U.S. Open tennis tournament is going ahead as originally scheduled but without fans in attendance at the Billie Jean King National Tennis Center in Queens.

The industry group for #venturecapital is launching a new nonprofit organization that will be dedicated to expanding div...

06/17/2020

VC group launches nonprofit to advance diversity, inclusion

The industry group for #venturecapital is launching a new nonprofit organization that will be dedicated to expanding diversity and access to opportunity in the startup and venture worlds. #startup #siliconvalley

#VC #Diversity #Inclusion #Startups

The SBA had quietly closed its Economic Injury Disaster Loan program for most small businesses last month. After an outc...

06/17/2020

SBA reopens its economic injury disaster loan program

The SBA had quietly closed its Economic Injury Disaster Loan program for most small businesses last month. After an outcry, it's back open.

Chairman and CEO Anthony E. Malkin will assume the role of president.

06/16/2020

Empire State Realty Trust president, COO to step down

Chairman and CEO Anthony E. Malkin will assume the role of president.

Goldman Sachs is the buyer, according to the Commercial Observer.

06/16/2020

Part of rental tower in Downtown Brooklyn sells with $57 million loan

Goldman Sachs is the buyer, according to the Commercial Observer.

Two of the largest government-led investment programs for businesses were enacted in the past 12 years. One is already i...

06/16/2020

PPP vs. TARP: Which program offers the biggest ROI for taxpayers?

Two of the largest government-led investment programs for businesses were enacted in the past 12 years. One is already in the books. But what will be the ROI for the other?

24 Hour Fitness will close 130 clubs — including more than 10 in the NYC area —as it enters bankruptcy reorganization.

06/16/2020

24 Hour Fitness files for bankruptcy, closes more than 130 clubs

24 Hour Fitness will close 130 clubs — including more than 10 in the NYC area —as it enters bankruptcy reorganization.

Main Street loans could help businesses preserve cash through the pandemic.

06/16/2020

Main Street Lending program could help businesses retain cash

Main Street loans could help businesses preserve cash through the pandemic.

Restaurants in the communities of New York City that have been hit hardest by the Covid-19 pandemic will be eligible for...

06/16/2020

NYC starts $3M program to help restaurants recover from shutdowns

Restaurants in the communities of New York City that have been hit hardest by the Covid-19 pandemic will be eligible for new grants meant to help them recover. The program intends to help workers as much as business owners.

Low mortgage rates help propel U.S. home sales and the refinance market.

06/16/2020

US mortgage rates stay flat in June

Low mortgage rates help propel U.S. home sales and the refinance market.

The apartments would be one-bedroom units, according to plans filed with the city. Three units would be set aside to com...

06/16/2020

Brooklyn investors plan to convert Albany offices into apartments

The apartments would be one-bedroom units, according to plans filed with the city. Three units would be set aside to comply with the city's inclusionary zoning requirement. #Albany #realestate

Working from home would seem like an easier, more efficient way to get our work done. Why then are we all exhausted?

06/16/2020

#WFH Chronicles: So. Dang. Tired.

Working from home would seem like an easier, more efficient way to get our work done. Why then are we all exhausted?

Pricing for new leases of 8-14 months decreased by 5% in May 2020 compared with May 2019. Last month's pricing is also 7...

06/15/2020

Covid-19 hits apartment renters with lower rents, more credit card use

Pricing for new leases of 8-14 months decreased by 5% in May 2020 compared with May 2019. Last month's pricing is also 7% lower than that of February 2020.

After images of people gathering in large groups near bars and restaurants spread on social media this weekend, Gov. And...

06/15/2020

Cuomo warns state could reverse Manhattan's reopening

After images of people gathering in large groups near bars and restaurants spread on social media this weekend, Gov. Andrew Cuomo warned the state could slow down the reopening in Manhattan and the Hamptons.

Two office towers in Midtown owned by RXR Realty have signed tenants in the health care field.

06/15/2020

Health care firms snap up space at prominent Midtown office towers

Two office towers in Midtown owned by RXR Realty have signed tenants in the health care field.

The 11-person New York office brings together decades of experience providing counsel to major investment funds and inve...

06/15/2020

Barnes & Thornburg opens New York office focused on finance laws

The 11-person New York office brings together decades of experience providing counsel to major investment funds and investors, banks and other financial institutions.

Yael Aflalo apologized on Instagram, saying, 'I've failed.'

06/15/2020

Reformation CEO resigns amid racism accusations

Yael Aflalo apologized on Instagram, saying, 'I've failed.'

Owl Rock Capital said the program will make low-interest loans "with an emphasis on minority-owned businesses impacted b...

06/15/2020

NYC asset management firm commits $5 million to minority loan program

Owl Rock Capital said the program will make low-interest loans "with an emphasis on minority-owned businesses impacted by Covid-19 and other economic and social crises."

A gym has plans for a new location in Manhattan, at a time when fitness centers statewide are still closed amid the coro...

06/15/2020

Gym signs lease for new location in Hell's Kitchen

A gym has plans for a new location in Manhattan, at a time when fitness centers statewide are still closed amid the coronavirus pandemic.

The company began trading on the Nasdaq Stock Exchange under the symbol "VRM."

06/15/2020

New York online used car dealer Vroom expects to raise $467M in IPO

The company began trading on the Nasdaq Stock Exchange under the symbol "VRM."

Amid controversy over the organization's reported mistreatment of people of color, Gelman stepped down after co-founding...

06/15/2020

Audrey Gelman, co-founder of The Wing, has resigned amid controversy

Amid controversy over the organization's reported mistreatment of people of color, Gelman stepped down after co-founding the New York-based co-working spaces firm four years ago.

Indietex is shifting its focus to growing online sales. #Zara

06/15/2020

Zara parent closing up to 1,200 stores

Indietex is shifting its focus to growing online sales. #Zara

The Real Estate Board of New York has new guidelines for commercial and residential building operators and real estate b...

06/14/2020

REBNY puts out safety guidelines for commercial buildings, brokers

The Real Estate Board of New York has new guidelines for commercial and residential building operators and real estate brokers as they prepare to head back to work in the coming weeks.

06/14/2020

Cuomo warns state could reverse Manhattan's reopening

The New York-based a real estate financial advisory firm said the new office is located at 25 Mountainview Boulevard in ...

06/14/2020

Black Bear Capital Partners opens a new office in New Jersey

The New York-based a real estate financial advisory firm said the new office is located at 25 Mountainview Boulevard in Basking Ridge, New Jersey.

New PPP rules means more forgiveness, but also mean more work for banks.

06/14/2020

New PPP rules mean more loan forgiveness but leave banks on the hook

New PPP rules means more forgiveness, but also mean more work for banks.

Amazon reportedly partnering with Goldman Sachs on a lending program for third-party sellers.

06/14/2020

Goldman Sachs partners with Amazon on lending program, report says

Amazon reportedly partnering with Goldman Sachs on a lending program for third-party sellers.

Alicia Glen, a former NYC deputy mayor, has started a real estate development and investment firm to invest in mixed-inc...

06/14/2020

Former NYC deputy mayor starts nationwide real estate firm

Alicia Glen, a former NYC deputy mayor, has started a real estate development and investment firm to invest in mixed-income, mixed-use projects in growing cities. To start, MSquared will target projects in cities like Austin, Atlanta and Dallas.

The deal for Amazon to take on the property at 1055 Bronx River Ave. is the latest distribution site the online retailer...

06/14/2020

Amazon signs lease for big South Bronx warehouse

The deal for Amazon to take on the property at 1055 Bronx River Ave. is the latest distribution site the online retailer has added in New York City.

The SBA late Friday said in a legal filing that detailed information about the $659 billion Paycheck Protection Program ...

06/14/2020

SBA says detailed PPP information 'exempt from disclosure'

The SBA late Friday said in a legal filing that detailed information about the $659 billion Paycheck Protection Program should not be made public. The response was to a legal filing from the PBJ, the New York Times, Washington Post and other media outlets.

The new arrivals and departures hall of Terminal B at LaGuardia Airport in Queens will open to travelers Saturday. It's ...

06/13/2020

Part of LaGuardia's $8B redevelopment will open this weekend (PHOTOS)

The new arrivals and departures hall of Terminal B at LaGuardia Airport in Queens will open to travelers Saturday. It's part of a larger $8 billion redevelopment of the airport.

In #banking news, Wells Fargo signalled layoffs ahead with long-term plans to get to "as lean as state as we can respons...

06/13/2020

Wells Fargo signals substantial layoffs ahead

In #banking news, Wells Fargo signalled layoffs ahead with long-term plans to get to "as lean as state as we can responsibly operate."

06/13/2020

Audrey Gelman, co-founder of The Wing, has resigned amid controversy

Amid controversy over the organization's reported mistreatment of people of color, Gelman stepped down after co-founding the New York-based co-working spaces firm four years ago.

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Happy World Health Day! On this day, as well as every other, we’re sending a huge Thank You to those who are on the front line in the fight against COVID19. Please take the time to show your support for our local #healthcare professionals, educators, essential employees, and caretakers of all kinds. If you have a friend or family member that deserves some recognition, tag them in the comments! Today we honor their service and contribution toward making our city, and world, a better place. #worldhealthday #covid19 #NewYork

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Supporting both our employees and our community is top of mind, now more than ever. While our subscriber content is what allows us to keep our newsrooms staffed and ready to report extensively on the New York’s business developments, we also want to keep our local community prepared for what is ahead. To help with both, we’d like to offer a $4 subscription that grants you full access to all subscriber content for the next 4 weeks. This includes all articles covering COVID-19 as well as frequently updated news & insights from a variety of New York’s industries. https://bit.ly/2UPh0vo We’ve also provided many non-subscriber articles around COVID-19 that are available for free here: https://bit.ly/2R2n4j7 We’ll get through this together. Stay safe, stay healthy, and stay in the know.

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Have you seen the latest enhancements to our multi-channel press release? BizSpotlight is the best way to get the word out about any #localbusiness making moves. Which #NewYork companies do you think are newsworthy? Tag them below! https://bit.ly/39ZF3hw #businessgrowth

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We are passionate about supporting your professional journey. Extend the energy of January’s National Mentoring Month by joining us for Bizwomen Mentoring Monday on February 24th. Get one-on-one networking time with leading businesswomen. http://bizj.us/1q0g6c

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Bank of America Winter Village at Bryant Park

The 2018 Bank of America Winter Village is open! To check out Manhattan’s winter wonderland, head over to Bryant Park any day between 8am and 10pm through March 3, 2019. The Holiday Shops are open through January 2, 2019.