A bet on injecting iPhone-esque magic into virtual reality It’s here (or it will be “early next year”): Apple unveiled its long-awaited entry into virtual reality, or what the tech giant calls “spatial computing,” in the form of the Apple Vision Pro, a $3,500 device that looks like exquisitely designed futuristic ski goggles. The initial […]
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Confirming rumors that had the art world abuzz this spring, Sotheby’s said Thursday that it has purchased the Whitney Museum of American Art’s 1966 Brutalist building by Marcel Breuer on Madison Avenue and will move its headquarters there from York Avenue in 2025. The purchase price of the Breuer building was not disclosed, but two […]
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More than three years after the pandemic slammed movie theaters, reducing the flow of new films and keeping patrons away, operators hope a slew of wide releases this summer will finally get those who have grown accustomed to streaming movies at home back into theaters. If they do return — for “The Little Mermaid,” “Barbie” […]
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Near the old perfume counters on the ground floor of the Hudson’s Bay department store in Winnipeg, Canada, a trade dripping with symbolism took place. The 39th “governor” of Hudson’s Bay — North America’s oldest company and one of Canada’s most iconic — accepted from an Indigenous leader two beaver pelts and two elk hides […]
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The Little Ram Oyster Co., a farm of 2 million oysters on the North Fork of Long Island, started with a Groupon. To celebrate a friend’s birthday in the summer of 2017, Stefanie Bassett and Elizabeth Peeples joined eight other enthusiasts in Long Island City to learn how to shuck oysters at a discount. The […]
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Like the tongue of a snake, Long Island’s eastern edge splits into two distinct tines. To the south lies the cluster of affluent villages known as the Hamptons. To the north is a bucolic strip of farmland that prides itself on its blue-collar roots. The lines are blurring in recent years, drawn anew by an […]
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Well-heeled vacationers descended from luxury hotels into the gleaming labyrinth of Mykonos’s historic old town on a recent evening, ogling gold jewelry and heading to bars offering pricey bottles of Veuve Clicquot. Tourists sailing the Aegean on 15-deck cruise ships ducked into designer boutiques on day trips of unbridled shopping. Along the island’s famed turquoise […]
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Engaged couples are struggling to navigate Bed Bath & Beyond’s faltering wedding registry system. Suppliers are scrambling to cultivate new business partnerships. Landlords are quickly closing deals on leases for suddenly vacated big-box locations. On TikTok, a shopper’s daily trips to a Manhattan store have found a receptive audience. After Bed Bath & Beyond’s recent […]
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Another members-only club has opened in New York. But unlike its predecessors, which include Soho House, Aman, Casa Cipriani, and others, the Centurion New York was designed not by an architect or hotelier — but by a credit card company. American Express opened its first Centurion members club, an 11,500-square-foot space with wraparound views of […]
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One of the darkest towns in America lies roughly 100 miles north of Reno, where the lights are few and rarely lit until one week each summer when pyrotechnics and LEDs set the sky and mountains aglow. In tiny Gerlach, just outside the Black Rock Desert in Nevada, residents have watched the Burning Man festival […]
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If the owners of one of the largest undeveloped sites in Manhattan get their way, they could soon be building one of New York’s first Vegas-style casinos — on a craggy, waterlogged field next to the United Nations. But first, a gesture of good will: Soloviev Group, the developer, is commissioning the artist Bruce Munro […]
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A yak-hide championship belt hangs in Yamuna Shrestha’s restaurant in Jackson Heights, Queens, where her momos — pillowy meat-filled dumplings from Nepal — have four times been voted the best in the borough. But the business, Bhanchha Ghar, which opened in a modest storefront beneath the 7 train shortly before the pandemic began, owes more […]
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Why It Matters: Office buildings tell the story of New York City’s economy. Before the pandemic, office buildings drove a significant share of the city’s economy. More than 1.5 million employees worked out of New York City offices, often commuting into the city from the boroughs outside Manhattan, New Jersey and Connecticut, and spent money […]
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Since the days of the gold rush, dreamers hoping to strike it rich have been staking their claim to a dusty 80-acre town in the Mojave Desert called Nipton. For nearly all of them, those dreams have been fool’s gold. A buyer who envisioned turning the California ghost town into a testing ground for solar […]
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Regulators had indicated that they planned to announce a winner by 8 p.m., before markets in Asia opened. PNC executives had spent much of the weekend at the bank’s Pittsburgh headquarters putting together its bid. Executives at Citizens, which is based in Providence, R.I., gathered in offices in Connecticut and Massachusetts. But 8 p.m. rolled […]
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Is the worst of the banking crisis over? It may seem a strange question to pose so shortly after the collapse of First Republic Bank, the second-largest such failure in U.S. history, but many industry experts say that its problems were unique to the once high-flying lender. Investors have also appeared to reach that view: […]
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A real estate investment fund recently defaulted on $750 million of mortgages for two Los Angeles skyscrapers. A private equity firm slashed the value of its investment in the Willis Tower in Chicago by nearly a third. And a big New York landlord is trying to extend the deadline for paying down a loan for […]
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The electric vehicle revolution isn’t on its way. From where Kenny Anderson sits, it has already broken ground. “There’s no stopping it,” said Mr. Anderson, an advanced manufacturing operations lead at DPR Construction, a builder focused on factories like the mammoth battery plants powering this industrywide change. “Every couple of weeks, there’s a new multibillion-dollar […]
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New York City’s biggest corporate landlords had it great for years — benefiting from a booming economy in a city where companies clamored to set up offices and from low interest rates that buoyed the economics of an industry built on debt. Those days are over. Three years into the pandemic, floors of office buildings […]
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The white-collar remote work revolution may permanently reshape the office market, bankers said. “Office is going to be really a challenged for quite a few years, and it has a lot to do with remote work,” said Michael Morris, the chief credit officer at Zions Bancorporation, with headquarters in Salt Lake City. The bank increased […]
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In 2020, when Gov. Andrew M. Cuomo unveiled a grand reimagining of Pennsylvania Station to be funded largely by new office towers around the train hub, one landlord stood to reap most of the rewards: Vornado Realty Trust, one of the nation’s largest owners and managers of commercial real estate. But three years later, the […]
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The pandemic and its lockdowns accelerated a mental health crisis in the United States, leaving treatment providers racing to keep up with the growing demand for care. The need is acute: The National Institute of Mental Health estimated that in 2021, one in five adults in the United States lived with mental illness. To meet […]
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Despite federal and state programs to convert corn into ethanol and soybeans into biodiesel to fuel cars and trucks, the United States has never before regarded farming as a primary energy producer. That changed when Congress in August passed the climate provisions of the Inflation Reduction Act, which provides $140 billion in tax incentives, loans […]
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“It’s clear that the work-from-home trends induced by the pandemic have transformed the food and drink scene in the city,” said Ara Kharazian, an economist at Square. The Partnership for New York City’s data indicated that financial service firms were back in the office in greater numbers than many other companies. Financial service firms reported […]
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The small auction held last week outside a Manhattan courthouse — 11 bidders holding white paddles gathered around a plastic folding table — seemed like the last-resort liquidation of some foreclosed house or deserted suburban office park. But the property being sold on the courthouse steps was different. It was the world-famous Flatiron Building, which […]
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State Senator Brad Hoylman-Sigal, whose district includes the area around Penn Station, also viewed the presentation and called it “intriguing,” in part because of the involvement of HOK. The demolition of the Theater at MSG would free up substantial room for the train hub below, which is crowded with structural columns that disrupt the passage […]
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The fallout from the recent banking crisis spurred by the collapse of two banks — and concerns about the health of a third — is bubbling up in the market for commercial real estate lending, as borrowers fear that banks will pull back. That could slow down construction activity and increase the likelihood of a […]
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WeWork, the struggling office space company, said on Friday that it had reached a deal with SoftBank and other investors to significantly reduce its debt and secure new financing. The agreement would cancel or convert into equity about $1.5 billion of the company’s debt, reducing WeWork’s total debt to less than $2.4 billion, the company […]
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Sunlight wields enormous power in our interior spaces. It can drive up the value of real estate and alter the mood of a room. It can clarify the work on your desktop and create warmth on a cool day. No light bulb can do all that. Natural light has long shaped how buildings are designed […]
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I asked Joel Kotkin, presidential fellow in urban futures at Chapman University and executive director of the Urban Reform Institute in Houston, about the economics of major cities, and he replied by email: “The era of urban supremacy is over. The party that addresses this will win. These areas need infrastructure and tax structures that […]
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Mass timber, an engineered wood product that offers durability and sustainability benefits, has become increasingly prominent at colleges across the country, where it is included not only as a concept in the curriculum but also as a material in campus buildings. Experts say universities are helping to increase awareness of mass timber — layers of […]
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