The Real Deal - New York Real Estate News

Massive Ohio pension fund steps up investment in infrastructure

Posted: 14 Jul 2019 01:00 PM PDT

Ohio’s school cafeteria workers, principals, and school bus drivers are bullish on infrastructure investment. Real estate, not so much. The Columbus-based School Employees Retirement System of Ohio pension fund pans to invest $100 million in the 2019-2020 fiscal year and all of that will go toward infrastructure, according to IPE Real Assets. Over the next 12 months the $14.3 billion pension fund plans to increase the share of infrastructure investments in its real assets portfolio […]

New York is among the worst cities to save for a rainy day: study

Posted: 14 Jul 2019 12:00 PM PDT

Experts say you should squirrel away six months’ worth of expenses as a contingency for losing a job or a medical emergency. But in New York, it would take someone half a lifetime to save that much, according to a new study. The average New Yorker would have to save for 521 months – or more than 43 years – to save up a roughly $30,000 six-month emergency fund, according to the personal finance site […]

New pastime for the rich and famous: “glamping”

Posted: 14 Jul 2019 11:00 AM PDT

Wealthy homeowners are increasingly turning to a new form of getaway, and it doesn’t require them to leave their property. Glamping — or glamorous camping — is becoming more and more popular among America’s wealthy, according to the Wall Street Journal. The high-end tents, which can sell for up to $30,000, even make a great guest home on some estates, homeowners told the Journal. The increasing popularity of luxury camping has spawned a whole industry. […]

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Posted: 14 Jul 2019 10:00 AM PDT

 Related Companies is celebrating the grand opening of Hudson Yards on March 15, 2019. But the megadevelopment’s observation deck, resting 1,100 feet above Manhattan’s West Side, doesn’t open to the public until 2020. The Real Deal got a sneak peek at the future tourist attraction, dubbed “the edge.” The deck spans 7,500 square feet and stretches 65 feet out from the 101st floor of the Kohn Pedersen Fox-designed 30 Hudson Yards. Its height makes […]

Co-working finally feels the crunch of supply and demand

Posted: 14 Jul 2019 09:00 AM PDT

Earlier this year, a San Francisco coder set out to create an outdoor co-working space that charged $2.25 an hour. The catch? It was comprised of a table and chair, set up on an empty parking lot. While the cost of co-working has yet to reach the levels of WePark, as the operation was named, it has been becoming more affordable as of late, Bisnow reported. Amid a drastic spike in supply, average desk prices […]

Power restored after blackout envelopes West Side of Manhattan

Posted: 14 Jul 2019 07:30 AM PDT

A power outage Saturday night on the West Side of Manhattan dimmed the bright lights of Times Square, knocked out traffic signals at intersections and temporarily trapped people in elevators and subway cars. Most theaters canceled performances of Broadway shows, and patrons illuminated darkened bars and restaurants with the glow of their cell phones as they drank and dined. Electrical power started to return around 10 p.m. and was fully restored by midnight. Con Edison […]