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The measure, known as Proposition ULA, boosts the one-time transfer tax to 4 percent for property deals between $5 million and $10 million, and 5.5 percent for transactions of $10 million and above. The current rate on all sales is 0.45 percent.
The Manhattan-based landlord on Monday revealed further details of its casino bid, which includes partnerships with Caesars Entertainment Inc. and Roc Nation, the entertainment agency founded by Jay-Z.
The firm is exploring acquisitions of Manhattan office buildings that are facing growing vacancies or debt burdens. The effort could potentially expand to other areas of the US, such as Washington, D.C., Boston and the West Coast.
A 2021 lawsuit over allegedly distributing counterfeit gel named two Ghermezian cousins and a family company as defendants, and now three other relatives—including Don Ghermezian, the head of American Dream—are awaiting a judge’s decision on...
Major global banks have historically been the biggest customers for CLOs, but the ones that put the deals together didn’t use to be significant investors in their own vehicles.
