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Facebook's deal for office space at the Farley Building isn't dead, The Real Deal reported. The social media giant is in talks to lease 700,000 square feet of office space at Vornado Realty Trust's conversion of the James A. Farley Post Office, according to the Wall Street Journal. Apple had also reportedly been looking into leasing space at the office redevelopment. Facebook's potential deal comes on the heels of the 1.5 million-square-foot lease it signed at Hudson Yards last month. A lease at Farley would make the social media company one of the largest office tenants in the city.
U.S. job gains roared back in November as unemployment matched a half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts, Bloomberg reported. Payrolls jumped 266,000, the most since January, after an upwardly revised 156,000 advance the prior month, according to a Labor Department report that topped all estimates in a Bloomberg survey calling for 180,000 jobs.
In a positive gesture, China said that it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out a broader agreement to defuse their protracted trade war, Reuters reported. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the finance ministry said in a statement, citing a decision by the country's cabinet. It did not specify the quantities involved.
For the first time since August, a deal not in Brooklyn or Queens has made the monthly top-10 list of outer-borough loans, The Real Deal reported. Breaking through was a $155 million loan from PIMCO to Prime Storage for a storage facility at 1260 Zerega Avenue in the Bronx. It grabbed the No. 2 spot, trailing only a $359 million package from Axonic Capital and Apollo Global Management to Innovo Property Group for 24-02 49th Avenue in Long Island City.
Officials from the New York City Department of Housing Preservation and Development (HPD) joined Transitional Services for New York, Inc. (TSINY) and Community Preservation Corporation (CPC) to celebrate the groundbreaking of 161-01 89th Ave, a 70-unit affordable and supportive housing development in Jamaica, Queens. The new affordable housing building, operated by TSINY, will include studio apartments that will serve low income seniors and chronically homeless individuals in need of supportive services.
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