Average Manhattan rents top $5,000, Funding could fall short for Penn Station plan, and more

NYC sues 'illegal' Airbnb operator under new law governing short-term rentals "The lawsuit comes under a relatively recent New York City law that requires rental platforms like Airbnb to give information about short-term listings to the mayor’s office — such as the identity of the host and which bank accounts payments were made to. The city was able to discover the identity of the host from data obtained by Airbnb. The suit was filed as New York City is in the grip of a tight housing market, with critics blaming Airbnb for the squeeze by reserving units exclusively for tourists." (Gothamist)

NYC Uber rides are the most expensive in America "The study comes as Uber has hiked prices around the world, citing surging gas prices and a persistent driver shortage. New York also has a minimum wage for drivers and a congestion surcharge policy that likely contributes to high fares." (NY Post)

Funding for Penn Station Plan Could Fall $3 Billion Short, Report Says "A new report, commissioned by an Albany watchdog group, is the latest volley in an intensifying debate over one of the nation’s most ambitious development projects." (NY Times)

‘Field of Schemes:’ Pols say state should enforce $10M penalty against Atlantic Yards developer for broken promises "Local pols and advocates are urging the state to collect on a $10 million debt they claim is owed by Greenland Forest City Partners, the developer of Atlantic Yards, over a missing 'urban room' community space promised as part of the massive Brooklyn real estate development." (Brooklyn Paper)

Average Manhattan rent tops $5,000 for the first time ever "According to a June market report, the average rental tab in Manhattan has surpassed $5,000 for the first time in the city’s history, the New York Post reports. The recent numbers, compiled by Douglas Elliman and Miller Samuel, show that the average Manhattan rent was $5,058 per month in June, a 1.7 percent uptick from the $4,975 May average–and a head-spinning 29 percent year-over-year spike from the $3,922 June 2021 average." (6sqft)