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Shuttered NYC migrant shelter slated for luxury conversion — with 249 apartments and a coveted indoor pool

Shuttered NYC migrant shelter slated for luxury conversion — with 249 apartments and a coveted indoor pool

New York Post4 days ago
A former hotel that once catered to tourists — and more recently to asylum seekers — is now preparing for a more permanent kind of guest.
The Watson Hotel, a 19-story, two-tower property at 440 W. 57th St. in Hell's Kitchen, is slated for a full-scale residential conversion, according to a recent filing with the Department of Buildings.
Yellowstone Real Estate Investments, which acquired the 600-room hotel for $175 million in 2021, plans to transform it into 249 apartments — complete with an indoor pool, a rooftop terrace, a gaming room, a pet playroom and a cellar-level parking garage, Crain's first reported. Many other details are not yet known.
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3 The Watson Hotel in Hell's Kitchen, once used as a temporary migrant shelter, is slated for conversion into a 249-unit residential building.
Matthew McDermott
The property, which opened in 1964 as a Holiday Inn, was rebranded as the Watson in 2017 and remained popular until the pandemic forced a citywide hospitality slump.
During the COVID-era emergency and amid a surge of migrants arriving in New York City, the hotel was repurposed by the Adams administration as a temporary humanitarian relief center.
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3 Developer Yellowstone Real Estate Investments, which bought the two-towered property at 440 W. 57th St. for $175 million in 2021, filed plans with the city to transform the former 600-room hotel into apartments ranging from six to 15 per floor across both wings.
William Miller
3 The hotel, originally a Holiday Inn built in 1964, was rebranded as the Watson in 2017.
Facebook/The Watson Hotel
That use officially ended in June, one of dozens of such sites to close as the migrant population in city shelters began to decline.
Yellowstone, led by CEO Issac Hera, has been expanding its residential footprint across Midtown.
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In March, the firm filed plans to convert 1730 Broadway, a 26-story office tower purchased from Blackstone for $185.9 million, into approximately 400 apartments.
A spokesperson for Yellowstone did not respond to The Post's request for comment.
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In-N-Out billionaire Lynsi Snyder says her family will leave California along with the company's headquarters: 'Doing business is not easy here'
In-N-Out billionaire Lynsi Snyder says her family will leave California along with the company's headquarters: 'Doing business is not easy here'

Business Insider

time3 hours ago

  • Business Insider

In-N-Out billionaire Lynsi Snyder says her family will leave California along with the company's headquarters: 'Doing business is not easy here'

In-N-Out's billionaire owner, Lynsi Snyder, is done with California. Speaking on the "Relatable" podcast released Friday, Snyder said she's moving to Tennessee as the cult burger chain plans its southeastern expansion and establishes a new headquarters in the suburbs outside Nashville. "There's a lot of great things about California, but raising a family is not easy here. Doing business is not easy here," Snyder said. During the conversation with host Allie Beth Stuckey, Snyder cited COVID-era business restrictions, such as mask mandates and vaccine requirements, as particular elements of California policy that made it difficult to operate in the state. In 2021, health officials temporarily shut down several In-N-Out locations in California because the chain refused to require proof of COVID-19 vaccinations. Snyder didn't expand upon her current business challenges or the challenges she's faced raising her four children in the state. In-N-Out is consolidating its corporate presence in California, centralizing its West Coast operations out of offices in Baldwin Park, where the chain was founded by Snyder's grandparents, and phasing out its Irvine headquarters by 2030. Its new Franklin, Tennessee headquarters is set to open in 2026. Please help BI improve our Business, Tech, and Innovation coverage by sharing a bit about your role — it will help us tailor content that matters most to people like you. By providing this information, you agree that Business Insider may use this data to improve your site experience and for targeted advertising. By continuing you agree that you accept the Terms of Service and Privacy Policy . "Now the bulk of our stores are still going to be here in California, but it will be wonderful having an office out there, growing out there, and being able to have the family and other people's families out there," Snyder said. While the chain is planning to expand in the Southeast with its operations in Tennessee, Snyder said she's "still saying no" to opening locations in Florida and other East Coast states. In-N-Out has over 400 locations across eight states: California, Nevada, Arizona, Utah, Texas, Oregon, Colorado, and Idaho. Snyder said that the company will continue to grow, but she's prioritizing sustainable expansion that maintains the quality of its products and service. "Number one priority is really keeping the company the same company that my grandparents started," Snyder said. "We don't want to be in every state, and we don't want to ever compromise our values and standards and the cornerstones that my grandparents laid down, so it's really just keeping those priorities at the forefront when we make decisions."

5 high-yield stock picks to add to your dividend portfolio
5 high-yield stock picks to add to your dividend portfolio

USA Today

time12 hours ago

  • USA Today

5 high-yield stock picks to add to your dividend portfolio

It might be prudent to make a point of collecting a little more cash in the near future, and worry a little less about growth. Does the prospect of economic uncertainty have you rethinking your portfolio? Perhaps you'd like to collect a little more cash while the economic headwinds are blowing? It's not an unreasonable concern. Plenty of other investors are already thinking more defensively. To this end, here's a closer look at five high-yielding dividend stocks to consider adding to your portfolio sooner rather than later, until it's clear the worst is behind us. 1. Verizon Communications Dividend yield: 6.2% Verizon Communications is, of course, one of the country's biggest wireless service providers, boasting well over 100 million paying customers who collectively handed over nearly $135 billion worth of revenue last year alone. Of that, $18 billion was turned into net income, $11.25 billion of which was dished out to shareholders in the form of dividends. That's in line with the company's long-term norms. There is an arguable downside here. That's growth ... or lack thereof. The well-saturated U.S. wireless market doesn't offer much in the way of upside potential above and beyond simple population growth. Verizon is finding some inroads within the institutional/private 5G communications space, but that's a highly competitive market. There's just not a ton of expansion to be added here either. What Verizon may lack in growth potential, however, it more than makes up for in consistency and sheer payout. Nobody's interested in giving up their mobile phones, which supports a sizable forward-looking yield of 6.2% that's based on a dividend that has now been raised for 18 consecutive years. Not bad. 2. Realty Income Dividend yield: 5.6% Realty Income isn't a stock in the traditional sense. Rather, it's a real estate investment trust, or REIT. That just means it owns a portfolio of rent-bearing real estate. REITs trade just like ordinary stocks do, and pay dividends the same way that dividend stocks do, too. And Realty Income brings something else to the table that's pretty unique in addition to its sizable forward-looking yield of 5.6%. That's a monthly dividend payment, as opposed to the quarterly cadence you'll get with most other dividend stocks. Realty Income's specialty is retailing real estate. In light of the so-called "retail apocalypse" that seems to never end, this focus seems like a liability. But take a step back and look at the bigger picture. While numbers from Coresight Research point out that 7,325 U.S. stores were shuttered last year, 5,970 new stores were opened (or reopened). Realty Income further narrows this gap by serving the strongest survivors in the business. Its top tenants include 7-Eleven, Dollar General, Dollar Tree, and FedEx, just to name a few. Underscoring the quality caliber of its renters is the fact that its occupancy rate currently stands at an industry-beating 98.5%, and only fell to 97.9% in COVID-crimped 2020. This resilience is one of the reasons the REIT has been able to raise its payout annually for the past 30 consecutive years. 3. SPDR Portfolio S&P 500 High Dividend ETF Dividend yield: 4.6% Speaking of dividend stocks that aren't actually stocks, add the SPDR Portfolio S&P 500 High Dividend ETF (NYSEMKT: SPYD) to your watch list, if not to your portfolio. An ETF (or exchange-traded fund) is a basket of stocks with a common characteristic. In this instance, these tickers are all part of the S&P 500 High Dividend Index, which tracks the 80 highest-yielding names within the S&P 500. These include Philip Morris, toymaker Hasbro, AT&T, and Ford Motor Company, for reference. None of these names has a great deal of growth firepower. All of them, however, are healthy dividend payers. Most of them also have a solid track record of dividend growth, even if it's not required for inclusion in the underlying index. Sure, you can probably find higher dividend yields than the one SPYD offers. The aforementioned Realty Income and Verizon both boast bigger ones, for instance. The SPDR Portfolio S&P 500 High Dividend ETF is still an incredibly simple way of achieving a well-diversified mix of dividend stocks though, with a little more potential for capital appreciation than Verizon or Realty Income offer. 4. Pfizer Dividend yield: 6.9% It's no secret that drugmaker Pfizer (NYSE: PFE) has underperformed since the wind-down of COVID-19, which upended sales of its Paxlovid approved to treat the disease. The company's top line has slipped from 2022's $100 billion to only $64 billion last year, for perspective, and analysts aren't looking for any sales growth this year or next either. That's the chief reason Pfizer shares continue to flounder. If you can look just a little further down the road, though, some new blockbuster drugs are in the works -- drugs like vepdegestrant, for the treatment of ER+/HER2- metastatic breast cancer. While it will be competing with plenty of other therapies in this same space, it's noteworthy that the FDA fast-tracked this drug, which is being co-developed with Arvinas. And that's just one. Pfizer got a total of four promising oncology drugs with its 2023 acquisition of Seagen, and now has over 100 clinical trials underway, 30 of which are in phase 3 (late-stage) testing. Indeed, the company believes it's got eight oncology candidates in its developmental pipeline that could become blockbusters by 2030. Little of this long-term upside is being reflected in the stock's present price, however, even though it arguably should be. More to the point for interested income investors, this pharmaceutical stock's weakness has pushed its forward-looking dividend yield up to nearly 7% at a point where the pharma giant is on the verge of significant prolonged revenue and profit growth. 5. Global X Nasdaq 100 Covered Call ETF Dividend yield: 14% Finally, consider adding a stake in the Global X Nasdaq 100 Covered Call ETF (NASDAQ: QYLD) to your dividend portfolio. It's not a stock. It's an exchange-traded fund. And an unusual one at that. While it holds the same tickers that make up the tech-heavy Nasdaq-100 index, serving as an index fund isn't its primary purpose. Rather, this ETF's purpose is to generate reliable income that's regularly distributed to shareholders by selling covered calls against the ETF's stock holdings. It's an income-generating process called "buy-write," in fact -- you're buying a stock, and then "writing" (or selling) call options on those shares, essentially using them as collateral. And the process works. Although the income generated by writing covered calls over and over again can be erratic (don't count on that trailing 14% yield going forward), the resulting reliable yields are typically big even if they're not precisely predictable. There's also a big downside, though. That is, this fund is almost certainly guaranteed to underperform the Nasdaq-100 itself, even after factoring in all of its sizable dividend payments. That's just the nature of selling covered calls -- the strategy doesn't let you fully participate when the market's rallying the most. Writing options is just a means of monetizing stock holdings when they're mostly moving sideways, or losing ground. Still, with a double-digit yield, even only capturing a portion of the Nasdaq-100's long-term upside isn't a bad bet. It's just arguably not the only dividend-paying investment you'd want to own at any given time, mostly due to its inconsistent payments. James Brumley has positions in AT&T. The Motley Fool has positions in and recommends FedEx, Pfizer, and Realty Income. The Motley Fool recommends Hasbro, Philip Morris International, and Verizon Communications. The Motley Fool has a disclosure policy. The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY. Should you invest $1,000 in Pfizer right now? Offer from the Motley Fool: Before you buy stock in Pfizer, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Pfizer wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025

CORRECTION – WLTH Opens Private Markets to Everyone with Launch of Tokenised Fractional Ownership in Hadron Energy
CORRECTION – WLTH Opens Private Markets to Everyone with Launch of Tokenised Fractional Ownership in Hadron Energy

Business Upturn

time13 hours ago

  • Business Upturn

CORRECTION – WLTH Opens Private Markets to Everyone with Launch of Tokenised Fractional Ownership in Hadron Energy

Retail investors gain first-of-its-kind on ‑ chain access to early ‑ stage private equity in nuclear micro ‑ reactors PANAMA CITY, Panama and REDWOOD SHORES, Calif., July 20, 2025 (GLOBE NEWSWIRE) — In a release issued under the same headline on July 19, 2025 by Common Wealth, please note that the boilerplate for Hadron Energy was incorrect. The corrected release follows: WLTH, the alternative investments platform operated by Common Wealth ( today announced that it will next week launch its inaugural tokenised private ‑ equity opportunity :: Hadron Energy , a California‑based micro‑modular reactor innovator. The launch is believed to be the first time a blockchain‑native platform offers retail investors worldwide the ability to purchase fractionalised equity tokens in a private company in this manner. Existing initiatives from established asset managers (e.g., Hamilton Lane/Republic) have remain extremely gated, positioning WLTH at the forefront of democratised access to private markets. Market Opportunity & Potential Upside Sector growth: Global micro‑ and small‑modular reactor (SMR) market projected to grow from US$0.65 billion in 2025 to US$8.9 billion by 2037 (19% CAGR) . ( ) Global micro‑ and small‑modular reactor (SMR) market projected to grow from . ( ) Public comparables: Listed peers Oklo and NuScale Power command market caps of approximately US$9.5 billion and US$4.7 billion respectively despite being pre‑commercial. ( , ) Listed peers and command market caps of approximately and respectively despite being pre‑commercial. ( , ) Illustrative exit scenario: If Hadron successfully licenses its first-of-a-kind reactor and secures large power‑purchase agreements, peer benchmarks suggest a potential multi‑billion‑dollar valuation. A retail 'Slice' bought for US$20 today could theoretically be worth US$600–9,000+ under ideal conditions — though returns are not guaranteed and capital is at risk. Investment Highlights Regulatory traction: Hadron Energy was added to the U.S. Nuclear Regulatory Commission's advanced‑reactor pre‑application list in May 2025, less than a year after inception. Hadron Energy was added to the U.S. Nuclear Regulatory Commission's advanced‑reactor pre‑application list in May 2025, less than a year after inception. NRC public meeting: On 8 July 2025 , Hadron hosted a hybrid public meeting at NRC Headquarters to outline its accelerated micro‑reactor licensing pathway; presentation materials are available via the NRC's ADAMS public filing system. On , Hadron hosted a hybrid public meeting at NRC Headquarters to outline its accelerated micro‑reactor licensing pathway; presentation materials are available via the NRC's ADAMS public filing system. DOE recognition: Hadron is featured in the Department of Energy's GAIN Advanced Nuclear Directory (June 2025 edition). Hadron is featured in the Department of Energy's GAIN Advanced Nuclear Directory (June 2025 edition). Commercial momentum: $1.8m raised in this round, a further $2.4m committed as of 16 July 2025 , and the company is negotiating with a leading hyperscale cloud provider to deliver hundreds of megawatts of baseload power to data‑centre campuses. $1.8m raised in this round, a further $2.4m committed as of , and the company is negotiating with a leading hyperscale cloud provider to deliver hundreds of megawatts of baseload power to data‑centre campuses. Engineering expansion: Hadron opened an 18,000 sq ft flagship engineering office in Redwood Shores, California, neighbouring Oracle's campus. Quotes 'Today we put a stake in the ground for financial inclusion,' said Jonathan Woolley, Co‑Founder of Common Wealth. 'By lowering the minimum ticket to just $20 , WLTH is giving everyday people the chance to back breakthrough climate ‑ tech that was previously reserved for elite venture and private ‑ equity circles.' Samuel Gibson, Founder & CEO of Hadron Energy, added: 'Within 11 months our design reached the NRC's official registry — a timeline unheard ‑ of in our sector. Partnering with WLTH lets us convert this regulatory momentum into broad ‑ based support, accelerating our mission to deliver carbon ‑ free baseload power.' How the Token Works Structure: Each 'Slice' (immutable on-chain ownership) represents an exact pro‑rata share in all and any liquidity arising from holding the Hadron equity. Each 'Slice' (immutable on-chain ownership) represents an exact pro‑rata share in all and any liquidity arising from holding the Hadron equity. Standard: ERC‑ 721 token. ERC‑ 721 token. Secondary liquidity: Tradable on WLTH's peer‑to‑peer Slice Marketplace (or other NFT platforms such as Opensea). Tradable on WLTH's peer‑to‑peer Slice Marketplace (or other NFT platforms such as Opensea). Minimum investment: USD 20. USD 20. Distributions: Any dividends or exits are paid automatically in USDC (USD equivalent cryptocurrency stable coin) to token holders' wallets. Offering Timeline (2025) Date Milestone 22 July Priority access opens for WLTH Genesis NFT holders and Top 50 stakers 23 July Public sale opens 24 July Allocation finalised, secondary trading enabled Innovation In another first for the industry, the WLTH platform will also allow users to gift this investment—or a portion of their own—to friends and family using only an email address, making a stake in a private company as easy to give as an e-gift card. About WLTH WLTH is an alternative investment platform for the 99%. Using the best of web 2 and 3 to open access to highly gated opportunities across RWA, private equity, venture capital, and crypto income creating strategies. The protocol has undergone multiple smart‑contract audits (Hacken, 2023–24) and has distributed over $1.5 million in community rewards to date. Learn more at . Read about the deal and opportunity here: About Hadron Energy Hadron Energy is a California-based company developing the Hadron Carbon Cell (HCC), a transportable micro-modular reactor. The factory-built system is a light-water reactor using low-enriched uranium to produce 2-10 MW of continuous, carbon-free power. The company is currently engaged in the licensing process with the U.S. Nuclear Regulatory Commission (NRC) to bring clean, resilient energy to industrial and government customers. Media Contacts: [email protected] Follow on X to stay up to date: @joincommonwlth Disclaimer: This content is provided by Common Wealth. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. GlobeNewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash

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