And then there were eight. Again.
The Bally’s Bronx casino proposal is back in the game just one month after City Council killed it.
The Council rejected the zoning changes Bally’s needed to move forward with its $4 billion casino complex in the Bronx, but Mayor Eric Adams vetoed the decision.
Though Council leadership criticized the mayor’s move, underscoring a broader battle brewing over the future of member deference, the body did not decide to take up the issue. The Council ran out the clock on its opportunity to override the veto, so the proposal will move forward with the seven other casino contenders.
Meanwhile, SL Green Realty backtracked on its pledge to provide tenants of the apartment complex Manhattan Plaza with $22.5 million over the next 15 years, along with .5 percent of its Times Square casino’s annual profits, Crain’s reports. Instead, if SL Green ultimately receives one of the three state casino licenses up for grabs, it will provide that money to the West Side Community Fund, a charity whose donors include Related Companies, Jamestown, Brookfield Properties as well as other real estate firms and major corporations.
The original arrangement was unusual, but added to the list of big promises casino teams are making in hopes of building goodwill and gaining an edge over the competition. Manhattan Plaza is home to mostly performing artists — who could potentially counter the opposition SL Green is facing from the Broadway League. But some residents were skeptical and reportedly wanted to ensure that the money would be administered fairly and would benefit the community beyond their building.
The casino competition has dragged on for years and is expected to conclude by the end of the year. In our latest issue of the magazine, I detailed some of the other twists and turns of the competition and how some teams may walk away with some wins even if they lose out on a casino license.
What we’re thinking about: With tariffs now in effect, what construction materials are being hit the hardest/how are developers and construction companies coping? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: Big is the name of the largest oyster found in a New York waterway in possibly 100 years, according to the New York Times. At last weigh-in, Big was 2.63 pounds. That’s down from the 2.8 pounds it weighed last year, when the Hudson River Park Trust’s River Project last plucked Big from the Hudson River. Big’s shell is home to 41 ribbed mussels and more than four dozen barnacles. The drop in weight may be related to the death of a former shell resident, another oyster.
Elsewhere in New York…
— Local residents and community groups in the upstate Finger Lakes region are demanding action from state officials after a cryptomining company has continued to operate a gas-fired power plant three years after being denied an air permit, according to Gothamist. The company, Greenridge Generation, filed an appeal to the denial, allowing it to continue operating while the case made its way through the courts. Now that the case is back in front of a judge, local community members and groups say they will file a motion requesting evidentiary hearings to wrap up by year’s end.
— Zohran Mamdani is leading in mayoral polls against opponent Andrew Cuomo by 19 percent, per a new poll, City & State reports. The same poll showed that Gov. Kathy Hochul’s lead against potential Republican opponent Rep. Elise Stefanik has shrunk 6 percentage points since June. Hochul is now ahead by 14 percentage points.
— Local politicians are bracing for federal overreach in NYC after Trump deployed the National Guard in Washington, D.C., and put the city’s police under federal control, according to The City. “With Donald Trump, you can get any level of reaction on any given day, and he believes that he has some special privilege to interfere and meddle with the functions of New York City,” Council member Keith Powers told the outlet. “He did it on congestion pricing and transportation, and certainly he’ll do it again in the future when it comes to deploying the National Guard.” — Quinn Waller
Closing Time
Residential: The top residential deal recorded Tuesday was $17.6 million for a new-construction unit at 217 West 57th Street. The Central Park Tower condominium unit is 3,400 square feet and is listed by Corcoran Sunshine Marketing Group’s Kane Manera and Janet Wang.
Commercial: The top commercial deal recorded was $72 million for 80-00 Cooper Avenue in Glendale, Queens. Ashkenazy Acquisition Corporation purchased the shopping center, which includes 374,000 square feet of commercial retail.
New to the Market: The highest price for a residential property hitting the market was $6.5 million for 53 West 53rd Street. The Midtown Central condo is 2,500 square feet. Douglas Elliman has the listing.
Breaking Ground: The largest new building project filed was for a proposed 223,353-square-foot, 14-story, mixed-use building at 159-31 90th Avenue in Queens. The applicant of record is David Gross of GF55 Partners.
— Joseph Jungermann
