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There was a concern in the 1970s that residential housing construction was declining as people moved from New York City to the suburbs. [8] In response to this trend, the state passed the original 421-a tax exemption program in 1971, with the goal of encouraging the construction of more residential housing in the city. [9]
In 1920, the building was constructed by Henry Kahl and Walsh-Kahl Construction for $1.5 million. [5] It was considered high-quality office space, which was in demand at the time, and was fully leased before construction was complete. [2] The building is composed of steel frame construction with stone and decorative terra cotta facing
In the wake of the Great Depression, taxpayers proliferated across New York City, ending the period of high-rise buildings; while just 7 percent of building plans filed in 1929 for the busy 3rd, Lexington, and Madison Avenues were for one- to three-story buildings, every plan was for such a building by 1933. Despite being intended as temporary ...
After Simon ended his active involvement in the firm's management, Chambers was responsible for deals including the 1985 purchase of Avis Rent a Car System, which was sold 14 months later to an employee stock ownership plan for $1.75 billion along with the sale of other Avis assets for $674 million, netting a profit of $740 million on a $10 ...
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In 1940, the biggest construction project in the camp's history began when the Army leased Camp Edwards. Construction was completed under the command of Major Thomas Waters, of the 68th AA Regiment. The Walsh Construction Company of New York was the company chosen to build the initial 1300 buildings in the cantonment area. These buildings were ...
Fine: $500,000 Bill Belichick, the longtime head coach of the New England Patriots, was fined $500,000 in 2007 for his role in the “Spygate” scandal, one of the most infamous controversies in ...
A former Allianz fund manager was spared prison time on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic that caused an estimated $7 billion of ...