Devin Gannon

Riders on 50 bus routes across New York City could see their commutes cut by up to six minutes under a new proposal aimed at boosting bus speeds. Mayor Zohran Mamdani, Gov. Kathy Hochul, and the MTA on Wednesday released “ Next Stop: Fast Buses, Better Service,” a plan outlining service upgrades that transit officials say will improve speed, reliability, and the rider experience citywide. Through a combination of service changes, traffic enforcement upgrades, and road redesigns, officials say the plan could reduce travel times by 20 percent across at least 50 bus corridors.

After shuttering last year and a brief stint as a light installation, Macy’s former Downtown Brooklyn flagship will become a massive five-floor “experiential destination.” United American Land on Monday unveiled plans for BKX, a 440,000-square-foot retail hub at 422 Fulton Street. The project, the largest block of retail space available in New York City, could accommodate “flagship retail, immersive entertainment, food halls, destination dining, wellness concepts, cultural programming, and large-format branded experiences,” according to the developers.

Work has begun on 2 World Trade Center, the final commercial tower planned for the Lower Manhattan campus and the future headquarters for American Express.

Vintage postcard depicting the entrance to the Lincoln Tunnel in New York City. Via Wikimedia

Photo by Michael Appleton/Mayoral Photography Office on Flickr

Plans to turn a police precinct parking lot in the East Village into a mixed-use affordable housing project moved forward on Monday. The city’s Department of Housing Preservation and Development (HPD) announced the selection of Spatial Equity, Housing Works, Cooper Square Committee, and This Land Is Ours Community Land Trust to redevelop 324 East 5th Street into The Aurea, a roughly 131-unit mixed-use development with a senior center, community space, and parking facilities. Plans for new housing at the site have been in the works since the Soho Noho rezoning in 2021.

In a 25-foot-wide brick Italianate townhouse on a coveted Brooklyn Heights block, this two-bedroom co-op at 60 Pierrepont Street illustrates the charm of the historic neighborhood. Asking $1,795,000, the home is framed by pre-war elegance preserved through a comprehensive renovation, elevated further by a 500-square-foot south-facing terrace that offers a rare opportunity for real outdoor living.

Manhattan and Brooklyn rents have reached new highs as the cost of living continues to rise across New York City. A report from the Corcoran Group found that the median rent for market-rate residential buildings in Manhattan reached $5,295 per month at the start of summer, up 3 percent since May and 8 percent year over year. Across the East River, Brooklyn’s median rent for market-rate units reached $4,350 last month, an 8 percent annual increase. The continued surge reflects the city’s limited housing inventory, with Manhattan’s already-tight vacancy rate falling from 1.57 percent in May to 1.49 percent in June.

Airbnb plans to turn a New York City landmark into office space. The short-term rental company, which currently operates under very strict regulations in the five boroughs, paid $81.5 million for the six-story limestone building at 281 Park Avenue South. Known as the Church Missions House, the property was built in the 1890s for the Episcopal Church and most recently housed the Swedish photography museum Fotografiska, which closed its doors in 2024.

Plans to build an 11-story condominium in Harlem are moving ahead after the development team secured $45 million in construction financing this week. SCALE Lending, the debt financing arm of Slate Property Group, announced Tuesday that it issued the loan to Mass Development for the multifamily project at 264-272 West 135th Street. The ground-up building will feature studio to three-bedroom condos, half of which will include balconies, along with retail space, community facility, and resident amenities.