July 2021 Industry Update

July 2021

 

Real Estate and Development

Real Estate Industry Couldn’t Be Happier With Eric Adams’ Primary Victory - Eric Adams is six months away from likely moving into Gracie Mansion, and the real estate sector couldn’t be happier. - Commercial Observer

Real Estate Hopes Cuomo’s Gun Violence Emergency Will Help NYC Tourism - Tourism represents an $80 billion dollar industry in the Big Apple, but recent concerns over gun violence might hamper its recovery — and the business community is concerned. - Commercial Observer

Condo collapse spurs inspections, questions about other towers - Local officials are ramping up inspections and audits of high-rise buildings in Florida, while insurers nationally and residents as far away as California reconsider the implications of tower living in the wake of the Champlain Towers South condominium collapse.  - Construction Dive

5 strategies construction firms use to lower their taxes - A recent Construction Dive analysis revealed that public construction firms' effective federal tax rates are among the lowest of any sector. The 19 largest profitable firms in the industry paid a collective 16.8% on their U.S. profits in federal taxes in 2020, a fifth lower than the 21% statutory rate set by Congress. Of those, 12 — or nearly two-thirds — paid less than the statutory rate. These construction firms relied on several provisions to reduce their tax liability, all of which are completely legal. Here is a look at the top techniques they used. - Construction Dive

Hosting an Airbnb Right Now Is Harder Than You Think - The pandemic has increased demand and also ramped up the expectations of vacationers. - New York Times


 

Architecture and Design

Rockaway Beach, New Yorkers’ Favorite Escape, Sees a Creative Resurgence - The creative New York City beach community is ushering in a new era of design. - Architectural Design

New York Design Center Celebrates 95 Years - Talk about venerable history: It’s coming up on the New York Design Center’s centennial! Ninety-five years in business, to be precise. - Interior Design

 


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