Shola Olatoye to step down as NYCHA chair

New York City Housing Authority chairwoman Shola Olatoye’s rocky tenure leading the city’s long-troubled public housing system is coming to an end. Olatoye and Mayor Bill de Blasio plan to announce her resignation on Tuesday in the Rockaways at a public housing development, according to Politico. Her interim replacement will be Stan Brezenoff, who has[…]

Paul Massey has left Cushman & Wakefield

Paul Massey has left the Cushman & Wakefield building. Massey told Cushman tristate region president John Santora last Friday that he would leave the company where he has worked since the end of 2014, when Cushman bought Massey Knakal Realty Services, according to the Commercial Observer. He has taken office space at 275 Madison Avenue,[…]

Why Chinese co-working giant Ucommune takes the anti-WeWork approach to its NYC expansion

When the largest U.S. co-working company, WeWork, expanded into China in 2016, it did so without a local co-working partner. Now, almost two years later, China’s largest co-working company, Ucommune, is expanding into the U.S. But unlike WeWork, it decided it needed some help. “This kind of business is very local,” Ucommune’s chairman Mao Daqing.[…]

North Brooklyn rents are dropping amid looming L train shutdown

The L train shutdown is about one year away, and rents in North Brooklyn are starting to reflect the upcoming inconvenience. Rents in the Brooklyn submarket — which includes L train-dependent neighborhoods like Williamsburg and Greenpoint — dropped to $3,027 in February, marking the seventh straight month of decline, according to a report from StreetEasy.[…]