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"Following the success of Metroplex One, we saw significant value in creating a striking and innovative ground-up development that could attract large, forward-thinking brands to the region," says Jerry Sweeney, president & CEO of Brandywine Realty Trust.
In addition to 18 new gates, the first phase of the $8 billion in renovations brings new dining and retail to the airport which services 30 million passengers each year.
The REIT now holds a greater interest in the Midtown building owned with HNA Group and moves forward in constructing its Financial District residential tower.
The new real property transfer tax called “NYC for All,” if enacted, would treat all residential transactions equally, regardless of how a home is purchased, by implementing a single progressive real property transfer tax that rises as the price of the property rises.