In the News: Lower Manhattan to Lose Half Its Rent-Regulated Apartments

••• “More than 100,000 rent-regulated apartments are on the verge of flipping to higher market rates because of a loophole in the state housing law [….] The lower Manhattan/Tribeca area stands to lose the most regulated units. Forty-six percent of the area’s 19,000 regulated apartments are expected to be priced out of the system soon, according to a city analysis of census figures.” —Daily News

••• “News Corp. and 21st Century Fox, the separate media giants controlled by Rupert Murdoch, have taken a big step toward possibly moving to the World Trade Center. The two companies on Tuesday signed a non-binding but detailed letter of intent with developer Larry Silverstein to anchor 2 World Trade Center. […] Under the proposed deal, 21st Century Fox and News Corp. would occupy about 1.3 million square feet on lower levels of the 2.8 million-square-foot tower.” Architect Bjarke Ingels is onboard to come up with a design replacing the Norman Foster one. —New York Post

••• “As BuzzBuzz Home points out, new permits filed with the Department of Buildings by architects of record Goldstein, Hill & West call for some changes to under-construction Tribeca condo tower 111 Murray Street. While the plan for the David Rockwell/David Mann/Edmund Hollander-designed building was originally a 66-story, 857-foot tower with 139 units, the new permits list it as 62 stories, 784 feet, and 154 units.” —Curbed

••• “Brian Tolle, designer of the Irish Hunger Memorial, tells the little known story of an old family photograph and the ‘serendipity’ that led to the creation of this much visited Battery Park City landmark.” —Tribeca Trib

••• “There’s been a surge in Citi Bike thefts in Lower Manhattan, police said. So far this year, 27 of the bright blue bikes have been stolen—in 2014, during the same time period, only one of the bikes was swiped.” —DNAinfo


1 Comment

  1. Just of a bit of a quibble about the headline story: I don’t really expect much more than fundamental literacy from the NYDN, and now and then it achieves that. But for the record, vacancy decontrol, which Mayor de Blasio is actually seeking to end, is not a “loophole”, it is a feature of the law.