A migrant from the Dominican Republic told reporters that New York’s government is not living up to its promises to help migrants settle in American neighborhoods and to be handed freebies and jobs.
Yaniry Pena spoke through tears to WHEC-TV in a video posted Friday, and blasted officials of New York’s Monroe County for making life much harder than she expected.
According to the report, Pena and her children left their Dominican Republic home and made their way to El Salvador and embarked on a dangerous month and a half trip to the border where they crossed into the U.S.A.
Pena says that she has been traumatized by how she has been treated in New York as she spoke to the news outlet through an interpreter because she speaks no English.
“It’s very traumatic,” the bitter Pena said. “She says it’s been quite traumatic. Everything that has been told to us to come to Monroe County, to Rochester hasn’t been fulfilled.”
After crossing the border, Pena says she made her way to New York and then enrolled in a free housing program in Rochester. When she and her children arrived, they were given a room at the Holiday Inn Downtown for four months before being moved into a free duplex.
Pena said that the living space does not have gas or electric and she still hasn’t qualified for a work permit, even after being in the U.S. for a year.
WHEC’s Berkeley Brean asked Pena if she likes the U.S., to with the migrant replied, “Si. But not Rochester… No good Rochester.”
Pena’s plight highlights a particular problem with the wave of migrants ushered into the country by Joe Biden’s lax policies. Despite the massive amount of freebies, free legal aid, and handholding, most migrants remain on welfare either in total or partially.
To address the migrant problem, New York Gov. Kathy Hochul (D) recently celebrated a $237 billion state budget that includes an additional $2.4 billion in spending for migrants above and beyond the billions already spent.
And while Hochul and New York City Mayor Eric Adams (D) have made moves to look tough on migrants by imposing time limits on housing — but merely allowing the evicted migrants to reapply for more housing — the wild spending on Biden’s border crossers is growing.
Even as millions of Americans struggle to keep a roof over their heads, some New York Democrats are demanding that taxpayers shell out for permanent free housing for these migrants.
Haredim attend the funeral of one of the victims of the Meron tragedy, where 45 people were crushed to death, May 2, 2021. (Flash90/Noam Revkin Fenton)
In 2022 and 2023, charges for illegal assembly were filed only against the ultra-Orthodox community.
By Vered Weiss, World Israel News
Israeli police have discriminated against ultra-Orthodox demonstrators for years, legal help group Honenu testified to the Knesset this week, saying that only members of the ultra-Orthodox community have been charged with illegal assembly, despite numerous instances of similarly unauthorized protests organized by non-Orthodox demonstrators.
In a Knesset debate over police handling of protests, Honenu presented a report that showed that ultra-Orthodox (haredi) demonstrators are targeted for charges of illegal assembly. In contrast, other protesters aren’t charged with any offense.
The Knesset discussion concerned the ways in which law enforcement handles public demonstrations and threats against public officials.
Israelis who have been demonstrating against the government on behalf of the hostages testified about claims of mistreatment at the hands of police.
MK Gilad Kariv asked, “I would like to know how many detentions and arrests of protesters have been carried out and how many police reports have been filed as sorted by place and protest.”
After families of hostages described their negative experiences with the police during protests, Attorney Menashe Yado from the Honenu legal aid organization declared, “In 2022 and 2023, charges for illegal assembly were filed only against the haredi community – the least protected demographic.’’
Committee Chairman Simcha Rothman responded, “I would like the police and prosecution to provide a breakdown of the data, as there are things here that should disturb everyone.”
He added, “If there were so many illegal assemblies and charges were filed against only one demographic, that is a serious issue.’’
Honenu is a legal advocacy group that seeks to protect the rights of settlers in Judea and Samaria.
According to Honenu’s report, despite the many months of daily protests last summer against the government’s judicial reform plan and the more recent anti-government demonstrations during the Gaza war, Israel’s ultra-Orthodox have been the only demographic to have been targeted with charges of illegal assembly.
Recently, the ultra-Orthodox community has faced a significant change, with ultra-Orthodox MKs giving their initial approval of a proposal that would draft at least a quarter of all yeshiva students into the army.
Moreover, that number could be increased to 50% in the coming years, which would mean some 6,000 additional annual recruits to the IDF.
New York’s plan to levy a hefty toll on drivers entering Manhattan was the focus of a legal battle. (AP Photo/Bebeto Matthews, File)
By: Philip Marcelo
New York’s first-in-the-nation plan to levy a hefty toll on drivers entering much of traffic-choked Manhattan was the focus of a legal battle that played out in federal court Friday.
A Manhattan judge heard arguments in lawsuits brought by unionized public school teachers and other New Yorkers seeking to put the brakes on the plan set to launch June 30.
But U.S. District Court Judge Lewis Liman didn’t issue any decisions following the daylong hearing, where the central question was whether transportation officials have sufficiently thoroughly studied — and come up sufficient plans to address — the negative health and environmental effects of the toll.
Most drivers in private cars, locals and tourists alike, heading into Manhattan south of Central Park should expect to pay about $15 during the daytime, with higher tolls for larger vehicles and lower rates for motorcycles and late-night entries into the city, according to the proposal finalized in March. Those who aren’t enrolled in a regional toll collection program will pay $22.50.
Alan Klinger, a lawyer representing lower Manhattan residents, said the toll amounts to a “cash grab” by transit officials looking to pump billions of dollars into the region’s creaky subway, trains and buses.
“There’s a desperate need to put funds into mass transit, and that is their overriding issue,” he said.
Lawyers for the Metropolitan Transportation Authority, the agency overseeing the congestion fee plan, didn’t dispute that the toll will provide a critical cash infusion of around $1 billion annually for the system, which carries about 4 million riders daily.
But they also argued that the toll will help reduce traffic and improve regional air quality by discouraging driving into Manhattan. The MTA also maintains it conducted extensive environmental reviews that found no significant effects to local communities that could not be addressed by focused mitigation efforts.
Klinger and other lawyers representing Manhattan residents argued Friday that the tolling scheme was given the green light by federal transportation officials without proper scrutiny.
Among other things, they noted that the Federal Highway Administration’s review was complete even before New York officials approved the toll’s final structure.
Toll opponents want the court to order transit officials to conduct a more comprehensive environmental study before rolling out the plan.
“This is supposed to be an all-encompassing process, and it has been anything but,” Klinger said.
Lawyers for the highway administration countered that New York transit officials had thoroughly analyzed the plan’s consequences and presented sufficient details for how they would address any harmful effects.
“None of these challenges have any merit,” said Zachary Bannon, a highway administration lawyer.
While the toll is expected to lead to an overall decline in traffic across greater New York City, some areas will see a “small degree” of increased congestion, acknowledged Elizabeth Knauer, an MTA lawyer.
The agency, she said, has committed to investing about $155 million over five years to offset those effects, including installing more roadside plants, parks, school air-filtration systems and more electric vehicle charging stations.
Other lawsuits argued Friday contend that low-income and minority communities already dealing with poor air quality will be particularly hard hit by the health effects of increased traffic through their streets.
They also argue drivers from other city boroughs and suburbs that lack adequate mass transit will take a disproportionate financial hit. Additionally, they claim, small businesses in the congestion zone will face higher operating costs.
Former President Trump is in a lower Manhattan courtroom during his trial. Credit: AP
By: Serach Nissim
On Monday afternoon, the Manhattan district attorney’s office rested its case against former President Donald J. Trump. As reported by the NY Times, the prosecution’s case came to a close after 15 days of testimony from 20 witnesses. Next, the defense began on Monday afternoon to briefly make its case, after which the jury will take up the task of making a decision in the criminal trial. The judge, Justice Juan M. Merchan, announced Monday that closing arguments will be delayed until after the holiday weekend, on May 28.
Former President Trump faces felony charges in relation to the alleged reimbursement of a $130,000 hush-money payment to Stormy Daniels, a porn star who says she had relations with Mr. Trump in Lake Tahoe, Nev., in 2006. He is charged, in the NYC case, with falsifying 34 business records in connection to that alleged hush money. It is the first time in history that a former US president is tried on criminal charges. Mr. Trump, 77, has denied the charges and has said he did not have an encounter with Ms. Daniels. If convicted, Trump could potentially face prison or probation.
The last three days of the prosecution’s case included a heated cross-examination of star witness, Michael D. Cohen, Mr. Trump’s former fixer and personal lawyer. The defense then began its case on Monday, continuing to do its best to sully Mr. Cohen’s testimony, making his words less credible for the jurors.
Per the Times, on Monday afternoon the defense called up their first witness —Robert Costello, a former legal adviser to Mr. Cohen, who said that in 2018 Mr. Cohen told him that Mr. Trump “knew nothing” about payments to Ms. Daniels. After a handful of objections by the prosecution lawyers, however, Mr. Costello said “jeez,” awaking the ire of the judge.
Justice Merchan sent the jury out of the courtroom and admonished Mr. Costello for not displaying “proper decorum” and for giving him “side-eye.” He then cleared the entire courtroom of onlookers, and according to a transcript, told Mr. Costello that his conduct was “contemptuous” and said, “If you try to stare me down one more time I will remove you from the stand.” He also warned the defense lawyers, “I will strike his testimony, do you hear me?”
On Tuesday, the defense called up Costello again, per AP News. After brief testimony, the defense rested its case on Tuesday, without the Republican Presidential candidate taking the stand. Mr. Trump had formerly indicated that he would like to take the witness stand, but he was not required to do so and it would have been an unexpected move. The defense’s strategy throughout the case was to attack the credibility of the prosecution witnesses, rather than to establish Mr. Trump’s innocence. This is because the burden of proof in a criminal case lies with the prosecution. “They have no case,” Trump said Tuesday morning. “There’s no crime.”
On Tuesday, the jurors were sent home for a week, and will be expected back after Memorial weekend for closing statements. Also, on Tuesday afternoon, the attorneys and the judge met in the courtroom to discuss how the judge will instruct jurors to make their deliberations.
A significant majority of locals are opposed to the idea of opening a casino in Times Square, a new survey reveals. According to information provided in a New York Post report that appeared on Thursday, the casino, backed by rapper Jay-Z’s Roc Nation, SL Green, and Caesars Entertainment, has been met with widespread resistance from residents who fear it would exacerbate traffic congestion and crime in the already bustling neighborhood.
According to the survey, which was released on Thursday and financed by the No Times Square Casino Coalition, 71% of registered voters living in or near Times Square are against the casino proposal. The report in the Post indicated that only 23% of respondents expressed support for the idea. The survey included residents from Times Square, Hell’s Kitchen, Chelsea, Murray Hill, and Gramercy Park.
Jeff Daniel, Chief Strategy Officer of The Shubert Organization and a member of the coalition, emphasized the community’s strong opposition. “The neighborhood has spoken,” Daniel said, according to the Post. “Too often, people forget that in addition to being a major global destination, the Theater District and surrounding neighborhood are a real community. The people living in this neighborhood overwhelmingly believe a casino would create massive problems, erode their quality of life, and set back the progress making this a safe, welcoming place for families.”
Residents’ primary concerns center around increased traffic and crime. Times Square is already one of the most congested areas in New York City, and the addition of a casino could exacerbate these issues, the Post report noted. The area is a major tourist destination, known as “The Crossroads of the World,” and adding a casino is seen as a potential catalyst for more significant disruptions.
The opposition cuts across all major demographic groups, with particularly strong resistance from women and seniors. The findings highlight a broader apprehension about the impact of a casino on the community’s quality of life. Indicated in the Post report was that residents fear that the casino could lead to increased crime rates and strain local infrastructure, undermining the safety and family-friendly environment of the area.
The No Times Square Casino Coalition includes influential members such as the Broadway League of Theater Owners, which plays a crucial role in the cultural and economic landscape of the neighborhood, as per the information contained in the Post report. Their opposition calls attention to the potential negative impact on the theater district, which could face increased competition and logistical challenges if a casino were introduced.
The survey’s results are troubling for all parties bidding for one of up to three licenses to open a casino in the New York City region. Notably, half of the surveyed voters in midtown Manhattan expressed opposition to opening a casino anywhere in the five boroughs. This widespread resistance suggests that any casino proposal within the city could face significant public and political hurdles.
Conducted by Tulchin Research between April 22 and 24, the survey of 400 registered voters found that less than one in ten voters, or 9%, believe Times Square is the best location for a casino, the Post report said.
According to the Post report, the poll, which has a margin of error of plus or minus 4.9 percentage points, highlighted several critical concerns among respondents:
A striking 81% of voters are worried that a casino in Times Square would exacerbate traffic problems in an already congested area.
The Upper East Side, historically known as the Silk Stocking District, is undergoing a significant transformation as it becomes a central hub for the Tristate region’s healthcare sector. Credit: Shutterstock
Edited by: Fern Sidman
The Upper East Side, historically known as the Silk Stocking District, is undergoing a significant transformation as it becomes a central hub for the Tristate region’s healthcare sector, according to a report on Thursday in the New York Post. This shift is driven by increasing demand for medical services, particularly for the aging population over 75. However, the rapid expansion of healthcare facilities in this affluent neighborhood has sparked controversy and discontent among local residents.
According to a recent report by CBRE, the Upper East Side is seeing a surge in healthcare-related developments. The report highlights that nearly 5.4 million square feet of new leases and expansions for health facilities have been established in Manhattan since 2018, with a substantial portion concentrated north of 59th Street on the East Side, according to the information provided in the Post report. This area is becoming the “central node” in the region’s health sector, driven by the growing need for advanced medical services.
The neighborhood is witnessing the rise of five major new hospital and medical projects, with three more large-scale and contentious proposals currently under city review. Indicated in the Post report was that each institution involved has argued that expansion is crucial for delivering state-of-the-art care both now and in the future. However, these developments have not been universally welcomed.
Grassroots campaigns are actively opposing the three proposed projects, citing potential long-term damage to the neighborhood’s economic and social fabric. Residents are also voicing concerns about temporary nuisances caused by ongoing construction. The report in the Post said that complaints range from construction noise and dangerous conditions to disruptions in the relatively low-rise, residential character of the Upper East Side.
At the construction site of a new 16-story Weill Cornell graduate student residence hall at 1393 York Ave. at East 74th Street, residents are particularly frustrated, the Post reported. Bright, uncovered construction lights have been keeping nearby apartment dwellers awake for months. “It even comes through my shades,” complained a bleary-eyed neighbor of Realty Check, highlighting the immediate impact on the quality of life.
Residents fear that the influx of medical facilities could alter the neighborhood’s identity, which has long been characterized by its upscale homes and high-end shops. The economic and social fabric of the area is perceived to be at risk as these large-scale developments could attract a different demographic and change the local economy’s dynamics.
In recent years, institutions have either acquired or decided to develop parcels they owned along First, Second, and Third Avenues, much to the surprise of local residents. The Post first reported on three major projects:
Hospital for Special Surgery (HSS) Anna-Maria and Stephen Kellen Tower: A 12-story tower spanning the FDR Drive at East 70th Street.
Extell-Developed Medical Building: A 30-story building at First Avenue and East 79th Street, leased to HSS for medical offices and treatments.
Iron Horse Labs: Located on East 94th Street, developed by Elevate Research Properties, a subsidiary of Taconic Partners.
Additionally, the Post report said that the 15-story Northwell Health Victoria and Lloyd Goldman Health Care Pavilion for outpatient care recently broke ground at the corner of Third Avenue and East 77th Street, and the Weill Cornell graduate student residence hall is nearing completion.
Curtis Priem, co-founder of the chip-making giant Nvidia, is spearheading a transformative initiative at Rensselaer Polytechnic Institute (RPI) by funding a groundbreaking quantum computer system. Credit: autos.yahoo.com
By: Mario Mancini
Curtis Priem, co-founder of the chip-making giant Nvidia, is spearheading a transformative initiative at Rensselaer Polytechnic Institute (RPI) by funding a groundbreaking quantum computer system. Priem, 64, has donated over $75 million to the Albany-area college to acquire the IBM-manufactured quantum computer, marking the first deployment of such a device on a university campus globally, as reported by the Wall Street Journal.
Priem’s vision extends beyond RPI’s campus in Troy; he aims to turn the surrounding Hudson Valley into a leading technology hub. “We’ve renamed Hudson Valley as Quantum Valley,” Priem told the Journal. “It’s up to New York whether they want to become Silicon State — not just a valley.”
Quantum computing, which uses subatomic quantum bits or “qubits,” promises to process data at speeds far exceeding those of conventional binary computers. These advanced systems are anticipated to significantly contribute to the development of cutting-edge AI technologies. Priem’s ambitious project includes covering the $15 million annual cost to rent the quantum computer, housed in a former chapel on RPI’s campus.
RPI President Martin Schmidt confirmed that the university will incorporate the quantum computer into its curriculum and ensure that students have access to this pioneering technology. This initiative positions RPI at the forefront of quantum computing education and research, providing students with hands-on experience in a rapidly evolving field.
Curtis Priem, an electrical engineer by training, co-founded Nvidia in 1993 alongside Jensen Huang, the current CEO, and Chris Malachowsky. Priem served as the company’s Chief Technology Officer until his retirement in 2003. Post-retirement, he sold most of his Nvidia shares and established a charitable foundation. As vice chair of RPI’s board, Priem has donated hundreds of millions of dollars to the university, demonstrating his long-standing commitment to advancing technology and education.
Nvidia, the company Priem helped establish, has become a cornerstone of the tech industry, particularly in the realm of artificial intelligence. Nvidia’s chips are essential for AI development, driving the company’s value to unprecedented heights. Since January alone, Nvidia’s stock has surged by 95%, reaching nearly $942 per share. The company’s market capitalization now exceeds $2.3 trillion, ranking it as the third-most valuable company globally, following Microsoft and Apple. In November 2023, Forbes estimated that if Priem had retained his Nvidia shares, his personal fortune would be around $70 billion, making him one of the world’s richest individuals.
Priem’s investment in quantum computing at RPI is a testament to his forward-thinking approach and dedication to fostering innovation. By establishing the first university-hosted quantum computer and promoting the Hudson Valley as a tech powerhouse, Priem is not only enhancing the educational landscape but also positioning the region as a leader in the next wave of technological advancement. This initiative promises to attract top talent and businesses, driving economic growth and cementing New York’s status as a technological epicenter.
As quantum computing becomes more mainstream, the Hudson Valley, now dubbed “Quantum Valley,” is poised to become a significant player in the tech industry, potentially rivaling other major tech hubs. Curtis Priem’s contributions and vision are set to transform the region, making it a beacon of innovation and technological progress
Rana Abbasova, may provide new insight into the corruption inquiry, which has questioned whether Mr. Adams’s campaign conspired with the Turkish government. Credit: nyc.gov
By: Benyamin Davidsons
An aide to Mayor Eric Adams, who served as his longtime liaison to the Turkish community, has turned against him and is cooperating with the corruption investigation into Mr. Adams’ dealings with the Turkish government. As reported by the NY Times, the aide, Rana Abbasova, may provide new insight into the corruption inquiry, which has questioned whether Mr. Adams’s campaign conspired with the Turkish government to funnel illegal foreign donations into his campaign coffers, and whether Mr. Adams pressured Fire Department officials to expedite approval of the high-rise Turkish consulate.
Ms. Abbasova, 41, who serves as the director of protocol for the Mayor’s Office for International Affairs, has been cooperating with the federal authorities in the probe. Emails show that she has been involved in some of Mr. Adams’s dealings with Turkish government officials and businessmen. Per the Times, she also helped coordinate meetings and events with members of the Turkish community in NY and abroad, arranged some of his travel plans, and accompanied him on two official trips to Turkey, per records.
Ms. Abbasova, originally from Azerbaijan, started working for Mr. Adams before he was mayor, having worked for about four years in the Brooklyn borough president’s office. On Nov. 2nd, the FBI had searched her home in connection with the corruption investigation, as well as the homes of Brianna Suggs, the mayor’s chief fund-raiser, and a former Turkish Airlines executive Cenk Öcal. Since that day, Ms. Abbasova started talks with the team of F.B.I. agents and federal prosecutors. While she has been providing information about the matter, it remains unclear whether she has signed a formal cooperation deal with federal prosecutors in exchange for leniency or whether she herself would potentially plead guilty to any crimes in relation to the alleged foreign donation scheme.
As of now, Mayor Adams has not been formally accused of any wrongdoing, and neither has Ms. Abbasova. Her lawyer, Rachel Maimin, declined to comment on Monday, as did spokesmen for the U.S. attorney’s office and the F.B.I. Mayor Adams has denied any wrongdoing and has repeatedly said that he always instructs his staff to follow the law.
One of Mayor Adams’ lawyers, Brendan R. McGuire, said in a statement that Ms. Abbasova’s cooperation was “not a new or meaningful development.” He told the NY Times that officials in the Adams administration had earlier shared information with federal prosecutors about what they described as improper actions taken by Ms. Abbasova after the search of her home. “It is our understanding that Ms. Abbasova has been talking to investigators since her improper conduct was reported by the administration in November,” the statement said.
No elaboration was made to clarify those actions, but sources for the Times say she her actions involved talking to another aide about communications. Ms. Abbasova was suspended from her position as the director of protocol in the days following the search of her New Jersey home. The mayor’s team had said that it acted proactively in putting her on leave after discovering the improper actions cited by Mr. McGuire.
After Mr. Adam’s became mayor in 2022, Ms. Abbasova’s role was “director of protocol for international affairs,” a position in which she “advises and assists the mayor” and others “on diplomatic protocol and etiquette matters,” according to her CityHall biography.
State Sen. Liz Krueger (D-Manhattan), who had in 2021 been one of the main supporters of New York’s legalization of cannabis, told The Post Monday that the Dormitory Authority is no longer issuing loans to open cannabis shops through its $200 million Social Equity Cannabis Investment Fund. Photo Credit: harris.uchicago.edu
By: Benyamin Davidsons
Gov. Kathy Hochul’s administration has quietly put an end to a multimillion-dollar fund that was set up to loan money to help disadvantaged persons open up cannabis stores. The program, overseen by the state Dormitory Authority (DASNY), became the subject of a bombshell report last month, when an article in The CITY reported the loans were actually high interest loans— even allegedly predatory— and that the program was potentially bleeding state cash.
Per the NY Post, the DASNY entered into a financial agreement with a private equity firm for the program, and the company hiked up costs for potential store owners with high-interest loans backed by the state. State Sen. Liz Krueger (D-Manhattan), who had in 2021 been one of the main supporters of New York’s legalization of cannabis, told The Post Monday that the Dormitory Authority is no longer issuing loans to open cannabis shops through its $200 million Social Equity Cannabis Investment Fund. “It certainly seems predatory,” Krueger said of the program’s funding set-up. “DASNY is not doing any more of these deals at this point,” she added.
The funding project, which is now seen as a total flop, is expected to be at the forefront when NY Secretary of State Robert Rodriguez testifies in front of state senators on Tuesday. Rodriuez, a Hochul ally who formerly served in the NY Assembly, was appointed in April to serve as DASNY’s acting president and chief executive officer. The agency provides financing and construction services to public and private colleges and universities, non-profit health care facilities and other public institutions. Rodriguez, who became Secretary of State in 2021 and who was nominated for this new role in April, will still need to be confirmed by the state Senate to fill the new position in its full capacity.
Per the Post, the senate is expected to vote on his nomination sometime next week, but in the meantime, at Tuesday’s hearing, Rodriguez will be on the hook to answer questions about the alleged funding debacle, and how he will handle the matter.
“There will definitely be questions,” state Sen. Gustavo Rivera (D-Bronx) told The Post. “I’d like to know how he’s going to manage it,” Rivera said.
State Sen. Jeremy Cooney (D-Monroe) added, “I’d like to better understand what our current obligations are.” Cooney added optimism that new leadership at DASNY will lead to positive change for the cannabis equity program. “I’m hoping we can have a very frank conversation,” Cooney said.
The scorching report by the CITY alleged that the state made an agreement with a private equity fund to chip in $50 million to the $200 million fund meant to give out loans for people who needed it most to open cannabis shops. The $50 million was loaned at a 15% interest rate. The fund then issued loans to renovate storefronts, but sometimes loaned more than three times what contractors actually needed for the jobs and at interest rates above 10 percent, per the CITY report.
Ivan F. Boesky, who was imprisoned in the 1980s died at age 87. Credit: AP
By: Serach Nissim
On Monday night, Ivan F. Boesky, the famed financier who was imprisoned in connection to a 1980s insider trading scandal, died in his home in the La Jolla neighborhood of San Diego, at age 87. As reported by the NY Times, his daughter Marianne Boesky announced that he died in his sleep. No cause of death was provided.
At the top of his game, in the mid-1980s, Boesky had boasted a net worth of $280 million (which translates into about $818 million in today’s currency), as well as a trading portfolio valued at $3 billion (roughly $8.7 billion today)— much of it financed with borrowed money. He and his wife had enjoyed a sprawling estate in Westchester County, N.Y., a Manhattan pied-à-terre, another retreat spot on the French Riviera, a lavish Paris apartment and a condo in Hawaii.
Limousines, private airplanes and helicopters were all part of the decor, and his name graced Forbes magazine’s list of the 400 richest Americans. It all went south though, when he was implicated in insider trading, having allegedly paid for stock tips which he bet on. Boesky cooperated with a young US attorney named Rudolph Giuliani in a bid for leniency, uncovering a huge scandal which included taking down other big fish in the industry. Boesky had worked undercover to secretly tape three conversations with Michael Milken, the so-called “junk bond king”.
In November 1986, Boesky pleaded guilty to insider trading, paying a $100 million penalty, a record at the time, and he spent 20 months in a minimum-security California prison beginning in March 1988.
As reported by the Associated Press, Boesky, the son of a Detroit delicatessen owner had worked his way up to formerly be considered one of the richest and most influential risk-takers on Wall Street. The son of Russian Jewish immigrants, he grew up with limited means and dropped out of college multiple times but ultimately received a degree in law. Boesky had married Seema Silberstein, the daughter of Ben Silberstein, a real estate developer and the owner of the Beverly Hills Hotel. In 1975, after struggling to meet success, Boesky had opened a small brokerage which eventually evolved into a sprawling group of investment companies boasting over 100 employees.
He worked grueling hours, often 18-hours a day, reportedly starting his days at 4:30 a.m. He also wrote a book in 1985 entitled, “Merger Mania.”
After Boesky’s arrest, accounts circulated that he had once addressed business students telling them, “Greed is all right, by the way.” “I think greed is healthy,” he reportedly said in a commencement speech in 1986 at the University of California, Berkeley. “You can be greedy and still feel good about yourself.” He had later said he did not remember having said it. The line was immortalized by Michael Douglas in the 1987 Oscar-winning Oliver Stone film “Wall Street”, in which he played the part of Gordon Gekko, a fictional character inspired by Boesky. “The point is, ladies and gentlemen, that greed, for lack of a better word, is good,” Douglas tells the shareholders of Teldar Paper, in the movie. “Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.”
Boesky was an active philanthropist and donated $20 million to endow a library at the Jewish Theological Seminary, which was later renamed.
Google and Meta are leading a push to put an end to New York legislation aimed at protecting children online. As reported by the NY Post, the tech giants are poised to spend over $1 million in the controversial lobbying battle.
A group of Big Tech firms, advocacy groups and companies from other sectors have already spent a collective $823,235 lobbying Albany lawmakers through mid-March to fight against the two bills – the Stop Addictive Feeds Exploitation (SAFE) for Kids Act, and the New York Child Data Protection Act, per recent public disclosures.
“This is an astonishing amount of money to be spent to kill two reasonable bills,” said one longtime Albany insider who requested anonymity. The proposed SAFE Act would work to crack down on addictive recommendation algorithms used by social media apps by requiring them to provide default chronological feeds for users 18 or younger unless they receive parental consent. It would also allow parents to impose time limits on social media use and in-app notifications. The Child Data Protection Act would work to block apps from collecting or selling personal data or location for users under 18 unless they consent. Kids under 13 would require parental consent.
The lobby spending to fight the bills is expected to beat $1 million by the next round of disclosures come out next month, sources say. “This could be considered ‘historic’ in the sense that the bills are relatively low impact for the state compared with other issues that get a lot of lobbyist attention,” said Danny Weiss, a Capitol Hill veteran and chief advocacy officer at Common Sense Media, which supports the bills. Of course, lobbying is expensive in NY, and other bills also saw huge efforts in lobbying.
Those bills, however, included the lucrative cannabis industry, where millions of dollars were spent to lobby over a period of several years in a bid to legalize marijuana in the state of NY. In the real estate world, a group of landlords and their advocates reportedly spent $1.4 million in 2022 to lobby against passage of new protections for tenants. The big tech firms are spending these exorbitant funds to lobby the children’s protection acts. “They are spending a lot of money to oppose these bills, as if they pose an existential threat to New York,” Weiss said of the blitz from Big Tech.
Both of the online child protection bills were already endorsed last fall by Democratic NY Gov. Kathy Hochul and State Attorney General Letitia James. During a press conference in January, Hochul had described social media as “a silent killer of our children’s generation.” The bills are being supported by over 25 groups, including Mothers Against Media Addiction and the NYS United Teachers Union.
Per the Post, the Tech firms argue that the legislation would stifle freedom of speech, online privacy for teens, limit internet access for migrants and other underserved communities, and essentially disable algorithms that help to crack down on hate speech.
The two acts are slated to move through committee in the state assembly as early as this week, and then be followed by a floor vote. The state senate is also expected to vote on the bills in the near future.
State Sen. Andrew Gounardes, who co-sponsors the bills, said opponents have funded an aggressive “whisper campaign” in Albany to delay or defeat the legislation.
Sen. Joseph Addabbo (D-Queens) – (pictured above) and Assemblyman Gary Pretlow (D-Mount Vernon) are backing a bill that mandates bid submissions by July 31 of this year, with the New York State Gaming Commission. (Image: New York State Senate)
By: Rob Otto
Two state lawmakers are advocating for a faster timeline to award casino licenses in the New York City area, proposing legislation to accelerate the much-criticized process. Sen. Joseph Addabbo (D-Queens) and Assemblyman Gary Pretlow (D-Mount Vernon) are backing a bill that mandates bid submissions by July 31 of this year, with the New York State Gaming Commission required to approve the three licenses by March 31 of next year.
The NY Post updated the public on all the goings-on regarding casinos coming to NYC.
The current timeline set by the gaming commission pushes the awarding of casino licenses to December 31, 2025. This extended schedule has faced backlash, including from a senior Sands casino official aiming to establish a gaming venue at the Nassau Coliseum hub in Uniondale, Long Island.
Industry insiders suggest that the prolonged timetable benefits bidders who encounter political resistance or zoning and land-use issues. Notable figures among these bidders include Mets owner Steve Cohen, who envisions an $8 billion casino and entertainment complex near Citi Field in Queens, and the Related Companies/Wynn Resorts, proposing a $12 billion casino and office tower complex in Hudson Yards, Manhattan.
Conversely, the expedited timeline is seen as advantageous for existing slots parlors, such as Resorts World at Aqueduct racetrack and MGM Empire City at Yonkers Raceway, which would only need to expand to offer live card games.
Addabbo and Pretlow assert that their intention is not to favor any bidder but to expedite the process to generate significant employment and revenue for the state. “It’s taking too long. There are inefficiencies,” said Addabbo, whose district includes Resorts World at Aqueduct. “We have to move. There are 5,000 jobs on hold—minimally.”
The process delays, according to Addabbo, are stalling the creation of 5,000 jobs. Each bidder would be required to pay the state an upfront license fee of at least $500 million. The proposed legislation allows the winning bidder two years to address any land-use or legal issues, although it remains uncertain if siting boards would recommend bids with unresolved problems to the gaming commission.
Steve Cohen’s proposal, for instance, requires state legislative approval to reclassify vacant lots around Citi Field from parkland to commercial use. This hurdle has yet to be cleared, as State Sen. Jessica Ramos (D-Queens), who represents the Willets Point area where Cohen’s casino is planned, has not supported the bill or project thus far.
Assemblyman Pretlow emphasized the urgency of moving forward, noting the financial and employment benefits at stake. “I’ve been trying to get the process moving,” said Pretlow, whose district is near the Yonkers racino. “It’s taking too long. We’re leaving $2 billion on the table. Why are we stringing this along? We’re spinning our wheels here.”
Governor Kathy Hochul, who oversees the gaming commission, has yet to commit to the accelerated timeline. “Governor Hochul will review all legislation that passes both houses of the legislature,” a spokesman said. Hochul is up for re-election in 2026.
Other contenders for the casino licenses include a joint bid by SL Green, Caesars, and Roc Nation for a Times Square casino, Bally’s proposal for Ferry Point in The Bronx, Silverstein Properties’ plan for Hell’s Kitchen, and the Thor Equities consortium’s gaming facility along the Coney Island boardwalk.
The anti-Israel protest in Bay Ridge, Brooklyn, led to 40 arrests, May 18, 2024. Source: Screenshot.
By: Hal C Clarke
Mayor Eric Adams on Monday praised the NYPD’s handling of a disruptive anti-Israeli protest in Brooklyn, labeling their actions as “commendable.” Meanwhile, one protestor accused of kicking a cop was shockingly released without bail, despite prosecutors’ objections, the NY Post reported
Adams defended the police on various morning shows against claims of excessive force during the Bay Ridge protest. He acknowledged that authorities would review a singular incident where a cop was caught on video striking a demonstrator pinned to the ground.
“Those police officers did a commendable job under very difficult circumstances,” Adams stated on 1010 WINS radio.
The mayor condemned the protest as “a complete disruption of the Bay Ridge community,” citing that 60 emergency calls were delayed due to protestors blocking vital routes. In a later interview with NY1, he expressed his disdain for the event, noting the display of terrorist flags and calls for the destruction of America.
“I don’t like the fact that people can call for the destruction of America. I don’t like the fact that people can wave terrorist flags. I don’t like any of that,” Adams emphasized. However, he conceded that such actions are protected under constitutional rights.
“But what you don’t have a right to do is to ride on top of buses, spit in the face of police officers, destroy property, and resist arrest,” Adams added. “It’s not gonna happen in this city.”
The chaotic protest led to the arrest or summoning of 41 individuals. Among those detained were Ava Chinelli and Jakhi Lodgson-McCray, who faced arraignment. Many others were promptly released with future court dates.
Chinelli, 38, of Astoria, Queens, was accused of blocking the street and kicking a cop in the knee during the arrest. Manhattan prosecutors sought $20,000 cash bail or $40,000 bond, citing her charges of felony assault, resisting arrest, obstructing government administration, and disorderly conduct. Yet, Judge Dale Fong-Fredrick released Chinelli without bail, a move that outraged many.
Lodgson-McCray, 20, of Maplewood, NJ, faced charges of misdemeanor assault, resisting arrest, obstructing governmental administration, and disorderly conduct. Due to state criminal-justice reforms, these charges were not bail-eligible, leading to his release.
Chinelli had no prior arrests, while Lodgson-McCray had been arrested three times earlier this year, all related to protests and resisting arrest.
The NYPD faced criticism for its allegedly aggressive response to the Saturday afternoon protest, initially intended to mark Palestinian Nakba Day. This event commemorates the 1948 Arab Israeli conflict and the subsequent displacement of Palestinians.
However, NYPD Deputy Commissioner of Operations Kaz Daughtry defended the officers in a scathing post on X, condemning the protestors’ actions.
“We will never tolerate any unlawful, illegal, and non-peaceful protests,” Daughtry declared. “We will not accept the narrative that persons arrested were victims, nor are we going to allow illegal behavior.”
Of the 41 people detained, 24 were issued summonses for disorderly conduct with fines, while 17 were arrested and charged. The following individuals received desk-appearance tickets:
Fairooz Abourya, 19, Staten Island: obstructing and disorderly conduct.
Saturday’s protest quickly spiraled out of control, leaving a lasting mark of chaos and disorder in Bay Ridge. The protestors’ actions were nothing short of reprehensible, endangering public safety and disrespecting law enforcement in a flagrant display of lawlessness.
In the bustling neighborhood of Gowanus, Brooklyn, a significant real estate development has become the center of a high-stakes financial skirmish. According to a report on Monday on The Real Deal web site, at the heart of this contention is the sprawling 827-unit multifamily project located at 175 Third Street, directly across from the local Whole Foods. This project, spearheaded by Aby Rosen’s RFR, has fallen into precarious waters due to a default on an $80 million mortgage.
RFR’s financial woes began after acquiring the site in 2018. The property, a block-long development stretching over three acres, was purchased from SL Green and Kushner Companies for $115 million. As was reported by The Real Deal, to finance this acquisition, RFR secured a loan from Union Labor Life Insurance Company. However, the developer soon found itself unable to meet the terms of the loan, resulting in a default.
The fallout from this default quickly attracted attention from opportunistic investors. Josh Zegen’s Madison Realty Capital, a notable player in real estate investment, recognized an opportunity in RFR’s misfortune, as per the information in The Real Deal report. In a strategic move, Madison Realty Capital acquired the distressed debt from Union Labor, aiming to seize control over the site by initiating a foreclosure on RFR’s interests.
This development is a significant indicator of the current turbulence within New York City’s real estate sector, particularly in multifamily developments. Indicated in The Real Deal report was that while construction across the city has seen a general slowdown, Gowanus has remained a hive of activity, making any major shifts in property ownership particularly noteworthy.
Madison Realty Capital’s acquisition of the debt was not done in isolation. The firm collaborated with Marvin Azrak’s Maguire Capital Group, calling attention to the potential value seen in this troubled asset, as was detailed in The Real Deal report. The partnership has scheduled a UCC foreclosure, which if successful, could dramatically alter the landscape of ownership and development in Gowanus.
This situation also casts a spotlight on the broader challenges facing RFR. Already having lost several properties, and with more facing foreclosure, the firm’s struggles are symptomatic of larger issues within the sector, including rising costs and a cooling market.
RFR’s financial difficulties have been mounting, with several of its trophy properties slipping from its grasp. Notably, RFR has lost control of iconic sites such as the Lever House and the Gramercy Park Hotel, landmarks that once symbolized the company’s prowess in the high-stakes arena of New York real estate, as was noted in The Real Deal report. Adding to the company’s woes, in March, the $104.5 million mortgage on its office building at 90 Fifth Avenue was transferred to special servicing due to payment failures. Shortly thereafter, Rialto Capital Partners reported that RFR had defaulted on $39 million in promissory notes, which were part of a loan sale by Signature Bank last year, according to the information provided in The Real Deal report.
In this turbulent real estate climate, Madison Realty Capital, in partnership with Maguire Capital Group, has emerged as a keen player, capitalizing on distressed properties. The report on The Real Deal also said that this partnership had previously manifested in March when they acquired a distressed loan on the Fifth Avenue Hotel in Nomad, marking a continued strategy of seizing opportunities amid others’ financial distress.
Newmark Vice-Chairman Ariel Schuster highlighted the underappreciated success of this area, stating, “The majority of the world doesn’t realize how much leasing takes place on Lower Fifth Avenue. Some occupancy numbers there are better than in Soho. The architecture on Lower Fifth is such that there’s more room for big stores.” Photo Credit: nmrk.com
By: Don Driggers
Manhattan’s retail scene is a diverse landscape that resists simple characterization. According to the Real Estate Board of New York (REBNY), there are fewer available storefronts compared to last year and rising rents, but overall conditions vary widely. Some areas like Soho and Upper Madison Avenue are booming, while others, such as Broadway on the Upper West Side, are plagued with vacant spaces.
The New York Post reported on this good news in NYC. Often good news is overshadowed by rioting Hamas supporters, migrant chaos and crime.
One often overlooked but thriving corridor is Fifth Avenue between East 14th and East 23rd Streets. Unlike its more famous Midtown counterpart, this stretch is experiencing a significant retail boom with new leases and expansions.
Newmark Vice-Chairman Ariel Schuster, a retail specialist with 20 years of experience, played a role in 80% of recent deals on Lower Fifth Avenue, either representing the tenant, the landlord, or both. Schuster highlighted the underappreciated success of this area, stating, “The majority of the world doesn’t realize how much leasing takes place on Lower Fifth Avenue. Some occupancy numbers there are better than in Soho. The architecture on Lower Fifth is such that there’s more room for big stores.”
Sales have always been strong on Lower Fifth Avenue, making it an attractive market for retailers. Schuster emphasized that this is not an emerging market but a well-established one. The availability rate is an impressively low 5%, although asking rents can reach up to $400 per square foot, reflecting the high demand and prime location.
The NY Post compiled the list of several high-profile retail deals have recently been signed on Lower Fifth Avenue, demonstrating its robust health:
Aritzia, a women’s fashion line, is moving from 89 Fifth Ave. to a larger, three-level store at 115 Fifth Ave., covering 15,000 square feet. This is the largest of the new leases.
Hoka, known for its midsole-cushioned shoes, signed a long-term lease at 172 Fifth Ave. after finding success with a test location at 142 Fifth Ave.
Arc’teryx, a Finnish-owned brand selling outdoor clothing and equipment, relocated and expanded to 149 Fifth Ave. from its previous spot at 139 Fifth Ave.
Madewell, a women’s casual sportswear chain, tripled its space at 156 Fifth Ave.
Rothy’s, a brand known for trendy men’s and women’s shoes, is opening a new store at 134 Fifth Ave.
Buck Mason recently opened its largest Manhattan store for menswear at 170 Fifth Ave.
Vuori, an “athleisure” brand, is taking over the former All Saints location at 120 Fifth Ave., according to the Commercial Observer.
“All these transactions took place over the past 12 to 15 months in this one submarket,” Schuster noted, highlighting the rapid and concentrated growth in the area.
The success of Lower Fifth Avenue stands out as a beacon of retail health amid the mixed fortunes of Manhattan’s broader retail scene. With a variety of new and expanded stores, this stretch between East 14th and East 23rd Streets proves to be a dynamic and thriving retail destination. The diverse mix of high-profile tenants and the low availability rate underscore the area’s appeal.
The fight against anti-Semitism may soon get a powerful and deep-pocketed ally: Blackstone chief Steve Schwarzman. Photo Credit: Wikipedia.org
By: Charles Gasparino
The fight against anti-Semitism may soon get a powerful and deep-pocketed ally: Blackstone chief Steve Schwarzman.
The private equity titan, worth approximately $40 billion, has been discussing with various people his concern about the anti-Israeli protests at Yale, his alma mater, and the broader attacks against Jews around the country, people close to him tell The Post.
He is said to be weighing using his clout (and his very thick wallet) to fund a counteroffensive, these people said.
“Steve is Jewish and has always been worried about the rise of anti-Semitism but he has now seen enough and wants to fight back,” said one person with knowledge of the matter.
Schwarzman’s discussions about funding efforts to combat anti-Semitism have yet to be reported and they’re in the early conceptual stages, I am told.
But he is contemplating something more sweeping, these people said, something that sets the stage for a national discussion to show that anti-Semitism is a real problem for the country, not just something taking hold with a lunatic fringe at many top universities.
A spokeswoman for Schwarzman would not provide specifics.
“Like many, he’s been thinking about ways to support the fight against anti-Semitism,” she said.
Schwarzman’s entry into the fray would be a significant development in the pushback against the bizarre spectacle of leftist protesters taking to the streets and college campuses to celebrate Hamas’ brutality and condemn Israel’s sovereign right to defend itself against annihilation.
Bill Ackman of the Pershing Square Capital hedge fund. Credit: AP
And, he is no stranger to philanthropy, as evidenced by so many landmarks, including here in NYC, that bear his name.
Consider: He’s donated $150 million to his Ivy League school; Yale’s Schwarzman Center is the university’s opulent cultural and academic common ground.
That’s not all.
In 2008, he gifted another $100 million to renovate the New York Public Library.
But as Yale turned into a hotbed of anti-Semitic, pro-Hamas protests, the Schwarzman Center became the focal point.
Leftist students and teachers set up an encampment there after the terrorist group’s brutal Oct. 7 attack that killed approximately 1,200 Israelis at a kibbutz and a music festival near Gaza.
Just a few weeks ago, during another melee at Yale, a Jewish student was stabbed in the eye by a protester wielding a Palestinian flag.
Over at the library, its flagship Stephen A. Schwarzman building was defaced by pro-Hamas graffiti, including handprints in blood-red covering Schwarzman’s name on the façade that commemorates his donation.
The Post has reported that the public library is now spending $75,000 to clean up the mess.
Aside from allowing these anti-Israel protests to fester at Yale and other college campuses, another issue that has many Wall Street supporters of Israel angst-ridden is that the demonstrations, as bizarre as they are, now appear to be influencing Biden administration policy.
Israel’s military efforts to remove the last vestiges of Hamas from the Gaza city of Rafah have recently been condemned by the president, top officials and much of the Democratic Party worried about alienating lefty base voters during a close 2024 presidential election.
Political appeasement
This political appeasement at the expense of Israel may push Schwarzman, a Republican, back into Trump’s camp, I am told.
As reported in this column, he has yet to say whether he will get behind the former president in the 2024 contest because of Trump’s 2020 election denialism.
Unfortunately, Wall Street and most corporate moguls have gone silent about the anti-Semitic fervor, aside from Bill Ackman of the Pershing Square Capital hedge fund and Marc Rowan, CEO of Apollo Management, another major PE firm.
Rowan is a graduate of Penn and led an effort to oust its board-of-trustees chair, Scott Bok, and president Liz Magill for allegedly tepid responses to Jew hatred on campus.
Ackman is a Harvard graduate and pushed for the dismissal of the university’s recently defenestrated president.
Claudine Gay, over similar concerns.
Marc Rowan, CEO of Apollo Management. Credit: YouTube.com
Yes, Schwarzman would be a formidable adversary to the leftists backed by their set of favorite billionaires, including, as The Post has reported, former hedge trader George Soros, who never seems to turn down a chance to fund radical endeavors.
But don’t kid yourself. Any attempt by Schwarzman or anyone to deprogram anti-Semitism from our cultural institutions will be an uphill battle.
What people like Schwarzman, Ackman and Rowan fail to realize is their own, albeit unintended, culpability in campus radicalism.
Over the years, they’ve donated tens of millions of dollars to these elite universities, which in turn took the money to hire leftist professors who degrade the teaching of Western civilization and promote anti-Americanism in their core curriculum.
That has turned all cultural institutions, not just universities, over to radicals.
The result has been a brainwashing of students and swaths of the public; anti-Semitism becomes a byproduct of this cultural rot since Israel is our staunch ally and is regarded as an oppressor of Arabs, despite years of being attacked by its neighbors and terrorists serving as proxies for enemies such as Iran.
That said, it’s never too late to fight.
Let’s hope Schwarzman starts sooner rather than later.
