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    Breuer Building Gets Landmark Status Before Sotheby’s Moves In

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    The modernist former home of the Whitney Museum of American Art had its interior designated for protection by the Landmarks Preservation Commission.The modernist Breuer building, formerly home to the Whitney Museum of American Art and purchased by Sotheby’s auction house in 2023, on Tuesday had much of its interior designated as a landmark by the New York City Landmarks Preservation Commission.The designation, which was voted on Tuesday morning, will protect much of the building on Madison Avenue from any changes that had concerned preservationists as the building undergoes a renovation by the Pritzker-winning architects Herzog & de Meuron. The museum’s galleries were not included as part of the designation. The designation protects parts of the lower level facing Madison Avenue, as well as the first-floor lobby, coat check, vestibules and the main stairwell from the lower level through the fifth floor.“We would have preferred the galleries were included in the designation,” said Liz Waytkus, the executive director of Docomomo US, an organization dedicated to preserving modern architecture which filed the request with the Preservation Commission seeking interior landmark status for the Breuer. “But we’ve spoken to Sotheby’s and they have assured us they are treating all gallery surfaces as if they are designated and using a light hand in their restoration.”The 1966 building by Marcel Breuer has become an important symbol of Brutalist architecture, with its concrete grid ceilings and its inverted stepped pyramid exterior.The structure most recently housed the Frick Collection and served as an exhibition space for the Metropolitan Museum of Art’s modern and contemporary collection. The renovated building will contain Sotheby’s sales room, as well as exhibition and dining spaces. Work is expected to be completed by this fall.Herzog & de Meuron — known for projects such as Tate Modern in London, the de Young Museum in San Francisco and the Park Avenue Armory in New York — has made a specialty of adaptive reuse, or transforming existing structures. The firm, based in Basel, Switzerland, is working with PBDW Architects, a New York firm, on the design.“We fully endorse the landmark designation, as reflected in our initial plans for the building,” said Steve Wrightson, Sotheby’s global head of real estate, in a statement. “We look forward to welcoming the public back and honoring the Breuer’s enduring legacy as we usher in a new chapter.” More

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      Trump-Kushner Hotel Project in Serbia Hits a Snag: Alleged Forgery

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      Serbian authorities say an official admitted to forging a document allowing a protected site in Belgrade to be demolished and replaced with a Trump hotel.The Trump family’s $500 million luxury hotel project in Serbia, slated to be built on the site of a bombed-out Defense Ministry building, has run into an embarrassing complication. A key document the Serbian government has relied on to deliver this deal was forged, officials there said this week.Jared Kushner, President Trump’s son-in-law, and his business partners plan to build a luxury residential and commercial complex on the site of the long-vacant compound that is slated to include a Trump International Hotel, the first in Europe.The leader of the Serbian agency charged with protecting cultural monuments admitted to the authorities that he had forged a government document allowing the former Yugoslav Ministry of Defense headquarters in Belgrade to be demolished and replaced with the Trump hotel.The project won tentative approval from the Serbian government last year, even before the government officially moved to revoke the protected historic status of the former Defense Ministry complex, which was heavily damaged during a 1999 bombing campaign by the North Atlantic Treaty Organization.Serbian government officials say that the agency leader, Goran Vasic, fabricated an expert opinion to justify the government’s decision to strip the site of its cultural heritage status.“Vasic forged a proposal for a decision to revoke the status of cultural property,” the Office of the Prosecutor for Organized Crime said in a statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Las Vegas Sands Drops Bid to Open a Casino on Long Island

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      The company cited the threat that online gambling posed to its profits in its decision to bow out of the competition for one of three casino licenses around New York City.Las Vegas Sands, the casino and resort company that has aggressively maneuvered to build a casino on Long Island in recent years, said on Wednesday that it was dropping its campaign, citing the potential threat posed to its profit margins by online gambling.Casino companies and real estate developers have fiercely competed in recent years for three casino licenses to be awarded by the state in and around New York City. Las Vegas Sands, one of the largest casino companies in the world, has been a leading contender for the right to open a casino on the site of Nassau Coliseum, a large arena just outside New York City.Its decision to drop that bid — over what it said were concerns about “the impact of the potential legalization of iGaming on the overall market opportunity and project returns” — was a major development in the cutthroat competition to bring full-fledged casinos to New York.Other developers who have vigorously pursued bids include Steve Cohen, the owner of the New York Mets, who wants to open a casino at Citi Field in Queens with Hard Rock Entertainment; the Hudson Yards developer Related Companies, which has proposed a casino on the Far West Side of Manhattan with Wynn Resorts; SL Green Realty Corporation, which wants to open a casino in Times Square with Caesars Entertainment; and Bally’s Corporation, which seeks to open one at a site in the Bronx that once housed the Trump Golf Links at Ferry Point.In a statement, Sands said it still believed that Nassau Coliseum would be the best location for a new casino. It said it would seek to transfer its right to bid for a license on that site to another company, and would use the money it might have spent on the project to buy shares of Las Vegas Sands and a subsidiary, Sands China.The proposal to open a casino in Nassau County has been met with resistance from community groups as well as Hofstra University, which has said it believes the casino would be too close to its campus.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Upper West Side Theater Is Sold After Governor Allocates $3.5 Million

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      A nonprofit bought the landmark Metro Theater after receiving financial support from Gov. Kathy Hochul, the State Senate and Steven Spielberg’s foundation.A landmark Art Deco movie theater that closed 20 years ago on Manhattan’s Upper West Side was sold to a nonprofit after it received $3.5 million in discretionary grants from Gov. Kathy Hochul of New York.The nonprofit, the Upper West Side Cinema Center, used those funds and $500,000 in grants from the State Senate to complete its $6.9 million purchase of the Metro Theater on Friday. It plans to revitalize the building, on Broadway near West 99th Street, with a five-screen theater, a lobby lounge and a public cafe.Additional fund-raising of $15 million to $25 million is required to construct a new interior, replace the marquee and clean graffiti from the facade, the nonprofit says.“The Upper West Side community deserves another world-class venue for cinema and art, and that’s why I was proud to step in,” Hochul said in a news release.Assemblyman Micah Lasher, a Democrat who took office in January, grew up going to the Metro Theater and fondly remembers seeing “Ali” and “Mr. Holland’s Opus” there with his family.“Its loss for the last 20 years has been not just an eyesore, but a deeply felt scar for the neighborhood,” he said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Officials Mark Hundreds of Federal Properties for Potential Sale

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      The Trump administration said on Tuesday that it could sell hundreds of federal properties around the country, including offices for the Social Security Administration, the Internal Revenue Service and the U.S. Mission to the United Nations.Officials at the General Services Administration, an agency that manages the federal government’s real estate portfolio, originally said they had identified more than 440 properties that they could “dispose of” in an effort to ensure that “taxpayers no longer pay for empty and underutilized federal office space.”By Tuesday evening, however, the list of buildings deemed “not core to government operations” had been trimmed to 320 properties, removing a number of high-profile buildings, many of them in Washington, D.C.Federal Properties That Could Be Sold More

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      Two More New York Theaters to Share Space

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      The prestigious downtown nonprofit Soho Rep will share space with Playwrights Horizons in Midtown Manhattan while figuring out a longer-term plan.In another indication of how postpandemic economics are rattling the nonprofit theater world, the prestigious Soho Rep is giving up its longtime home in TriBeCa and will instead share space with Playwrights Horizons, a Midtown theater company, while trying to figure out a longer-term plan.The move, prompted by real estate constraints as well as fiscal concerns, comes at the same time that another important New York nonprofit, Second Stage Theater, is leaving its Off Broadway home. That company is now planning to reside, at least temporarily, with Signature Theater, which in recent years has had more space than it can afford to program.The two decampments follow a 2022 decision by the Long Wharf Theater, in New Haven, Conn., to let go of its waterfront home and become itinerant.Taken together, the transitions are a reminder of the enormous stresses facing nonprofits, and suggest that revisiting real estate choices will become part of the solution for some.“If you look at the field-wide vulnerability, partnerships are a result of that,” said Eric Ting, one of Soho Rep’s three directors. “We look to each other for support and for strength.”Soho Rep, established in 1975, is small: Its current annual budget is about $2.8 million, it has just five full-time employees and since 1991 it has been presenting most of its work in a 65-seat TriBeCa space, making it an Off Off Broadway theater. But the company, committed to what it calls “radical theater makers,” punches way above its weight. It was the first to stage Jackie Sibblies Drury’s “Fairview,” which won the Pulitzer Prize in drama in 2019, as well as Shayok Misha Chowdhury’s “Public Obscenities,” which was a Pulitzer finalist this year. The theater has regularly introduced New York audiences to work by important, and often provocative, playwrights, including Sarah Kane, Aleshea Harris, Branden Jacobs-Jenkins and Lucas Hnath.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China’s Economy Slows Sharply as Housing Troubles Squeeze Spending

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      After a strong start to the year, spending has slumped as a real estate downturn weighs on consumers. Communist Party leaders are meeting this week to discuss what to do about it.Economic growth slumped in China through the spring after a strong start this year, according to data released on Monday, as a real estate crash caused consumers to spend more cautiously.The latest growth statistics for the world’s second-largest economy, covering April through June, put further pressure on the Communist Party as its leaders gathered on Monday in Beijing for a four-day conclave to set a course for the country’s economic future.In a country known for strict controls on the flow of information, the Chinese government is maintaining a particularly tight grip ahead of the party gathering, known as the Third Plenum, which typically takes place every five years. China’s statistical bureau canceled its usual news conference that accompanies the release of economic data and Chinese companies are mostly avoiding the release of earnings reports this week.China’s National Bureau of Statistics said that the economy grew 0.7 percent in the second quarter over the previous three months, a little below the expectations of most economists in the West. When projected out for the entire year, the data indicates that China’s economy grew during the spring at an annual rate of about 2.8 percent — a little less than half its growth rate in the first three months of this year.The statistical bureau also revised down its estimate of growth in the first quarter. That growth rate, projected out for the full year, was about 6.1 percent, not the 6.6 percent rate that was disclosed in April.Xi Jinping, China’s top leader, is trying to win confidence in his policies at home and abroad as growth falters and the property market suffers.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Disney and DeSantis Reach Agreement, Ending Protracted Fight

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      The deal locks in a 15-year expansion plan for Disney World and clears a path for Disney to restart political donations in Florida.Disney and Gov. Ron DeSantis of Florida have finally ended their feud, clearing the way for $17 billion in planned development at Walt Disney World near Orlando.On Wednesday night, the Central Florida Tourism Oversight District — an entity that Mr. DeSantis took over in 2022, ending 55 years of Disney control and sparking multiple lawsuits — gave the company a big part of what it wanted all along: a locked-in, long-term plan for expanding Disney World. At least for the next 15 years, the length of the new agreement, Disney can develop the resort without worrying about interference by Florida politicians.Put bluntly, state leaders can no longer use growth at the 25,000-acre resort as a political weapon, as Mr. DeSantis did two years ago after Disney said it would fight to repeal a state education law that opponents called anti-gay.Jeff Vahle, the president of Disney World, said in a statement that the agreement would support “the growth of this global destination, fueling the Florida economy.” It gives Disney the ability to build a fifth theme park, add three small parks, expand retail and office space and build 14,000 hotel rooms, for a resort total of nearly 54,000.Disney has earmarked $17 billion to expand the complex over the next decade, growth it has said will create an estimated 13,000 jobs.The district noted that, under the agreement, Disney is obligated to spend at least $8 billion. The company also must expand an affordable housing initiative and carry out a “buy local initiative,” with at least 50 percent of its total spending in expanding Disney World going to Florida businesses.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Adam Neumann Gives Up on Buying Back WeWork

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      The co-founder of the shared-office company, who stepped down under pressure before the firm went bankrupt, announced an audacious takeover bid earlier this year.Adam Neumann has officially admitted defeat in his quest to buy back WeWork, ending his bid to acquire the co-working company that he helped found in 2010 and built into a global enterprise valued at $47 billion before it fell into bankruptcy last year.“For several months, we tried to work constructively with WeWork to create a strategy that would allow it to thrive,” Mr. Neumann said in a statement to the DealBook newsletter. “Instead, the company looks to be emerging from bankruptcy with a plan that appears unrealistic and unlikely to succeed.”The writing was on the wall for weeks. Mr. Neumann stepped down as WeWork’s chief executive in 2019 under pressure from directors and investors, after the company failed to go public amid questions about its business model and corporate governance. It marked a stunning fall for Mr. Neumann, the company’s charismatic frontman.But in February, DealBook reported that Mr. Neumann was planning an audacious move to buy back the company.His new real estate company, Flow, which is backed by Andreessen Horowitz, the venture capital firm, offered more than $500 million. The plan was to buy WeWork or its assets, and inject bankruptcy financing to keep it afloat.But WeWork found a different lifeline. A U.S. bankruptcy judge last month approved a restructuring deal that essentially wiped out $4 billion in company debt. It also included $450 million in new funding from SoftBank, the Japanese technology investor that has backed WeWork from its early days, enabling it to exit Chapter 11 bankruptcy.WeWork has been busy renegotiating leases in an effort to shed $11 billion in rent obligations. The rise of hybrid work since the coronavirus pandemic has hit the commercial real estate sector hard. A surge in vacancies has helped companies like WeWork rework deals with landlords, but has also cast doubts over the growth potential of the shared-office business model. More