New York Attorney General Eric Schneiderman has filed a lawsuit against Donald Trump and his eponymous "Trump University" for defrauding students looking to learn about the billionaire's brand of business acumen.

The suit says that 5,000 students, many paying thousands of dollars, thought they would get to at least meet the Donald. Instead, they only got their picture taken with a cardboard cutout.

Between 2005 and 2011, Trump University swindled consumers into paying for a spate of expensive courses that did not deliver on promises to teach real estate investing techniques, the suit alleges.

"More than 5,000 people across the country who paid Donald Trump $40 million to teach them his hard sell tactics got a hard lesson in bait-and-switch," Schneiderman said in a statement. "Mr. Trump used his celebrity status and personally appeared in commercials making false promises to convince people to spend tens of thousands of dollars they couldn't afford for lessons they never got."

Schneiderman argues that Trump promised free workshops taught by his own knowledgeable, hand-picked instructors who were, in fact, nothing of the sort.

The free workshops were actually designed to get students to sign up for another three-day, $1,495 seminar where Trump would supposedly appear in person, the suit alleges.

Those students were also pushed to sign up for a "Trump elite mentorship program" ranging from $10,000 to $35,000 a head.

Trump's attorney Michael Cohen denied the charges, arguing they were purely political. "The attorney general has been angry because he felt that Mr. Trump and his various companies should have done much more for him in terms of fundraising," Cohen said.

The writing was on the wall for Trump University years ago, when the New York Education Department said it was not licensed to call itself a university. It became "Trump Entrepreneur Institute" in 2011.

Here's the full press release:

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A.G. SCHNEIDERMAN SUES DONALD TRUMP, TRUMP UNIVERSITY & MICHAEL SEXTON FOR DEFRAUDING CONSUMERS OUT OF $40 MILLION WITH SHAM “UNIVERSITY”

Trump Appeared In Ads That Falsely Claimed Trump University Would Use His “Handpicked Experts” To Teach Get Rich Real Estate Techniques, Bilking Students Out Of Thousands Of Dollars

A.G. Schneiderman: “No Matter How Rich Or Popular You Are, No One Has Right To Scam Hard Working New Yorkers; Anyone Who Does Will Be Held Accountable”

NEW YORK - Attorney General Eric T. Schneiderman today announced that he has filed a lawsuit against Donald Trump, The Trump Entrepreneur Institute -- formerly named Trump University LLC (“Trump University”), and Michael Sexton, former President of Trump University for engaging in persistent fraudulent, illegal and deceptive conduct in connection with the operation of Trump University.

Between 2005 through 2011, Trump University operated as an unlicensed educational institute that promised to teach Donald Trump’s real estate investing techniques to consumers nationwide but instead misled consumers into paying for a series of expensive courses that did not deliver on their promises.

"More than 5,000 people across the country who paid Donald Trump $40 million to teach them his hard sell tactics got a hard lesson in bait-and-switch," said Attorney General Schneiderman."Mr. Trump used his celebrity status and personally appeared in commercials making false promises to convince people to spend tens of thousands of dollars they couldn't afford for lessons they never got. No one, no matter how rich or popular they are, has a right to scam hard working New Yorkers. Anyone who does should expect to be held accountable."

The petition filed in New York Supreme Court in Manhattan by Attorney General Schneiderman details the advertisements run by Trump University in major newspapers across the country and the direct mail solicitations sent to entice consumers to attend a free workshop. These ads prominently displayed Donald Trump’s photograph and signature, or were styled as letters written by Trump himself. The advertisements were replete with false claims, including claims that consumers would learn “from Donald Trump’s handpicked instructor a systematic method for investing in real estate that anyone can use.” Other ads promised “my handpicked instructors will share my techniques” or “learn from my hand-picked expert” and “just copy exactly what I’ve done and get rich.”

An investigation by Attorney General Schneiderman revealed that Donald Trump did not handpick even a single instructor at these seminars and had little or no role in developing any of the Trump University curricula, or seminar content. The investigation also revealed that officials used the name “Trump University” even though they lacked the charter necessary under New York law to call themselves a University. They were also unlicensed under New York State Education Law, evading an array of legal protections designed to protect New Yorkers from fraud.

Even though Trump University was notified by the New York State Education Department (“NYSED”) as early as 2005 that these practices violated New York law, Trump University did not change its name until May 2010 and never received a license to operate in the state. As a result, many students believed they were attending a University, when they were not. This misconception was reinforced by Trump University’s use of a University-like seal on much of its material and awarding diploma-like Certificates of Completion bearing Donald Trump’s signature.

Despite Trump University’s advertised claims, consumers attending free seminars did not learn Donald Trump’s real estate techniques. Instead, Trump University’s instructors made multiple misrepresentations to convince consumers to sign up for a $1,495 three-day seminar. These misrepresentations included false claims about the three-day seminars such as:

• consumers would learn “everything [they] need[ed] to know” to become successful real estate investors;
• consumers would quickly recoup their investment by doing real estate deals, with some instructors claiming that consumers would earn tens of thousands of dollars within thirty days;
• instructors were “handpicked” by Donald Trump;
• consumers would be taught Donald Trump’s very own real estate strategies and techniques;
• consumers would receive access to private sources of financing (“hard money lenders”); and
• the three-day seminar would include a year-long “Apprenticeship Support” program.

Instructors also insinuated Donald Trump himself would appear at the three-day seminar.

In reality, many of the promises made at the free seminars went unfulfilled. Despite claims to the contrary, consumers who paid for and attended the three-day seminars were not taught everything they needed to know about real estate investing. For example, consumers did not receive substantive instruction on how to raise money from hard money lenders or receive an extensive “apprenticeship support” program. Instead of providing the sustained support promised by Trump University’s instructors, consumers were provided a list of lenders from a commercially available magazine. Instead of a personal appearance from Donald Trump as some consumers were led to expect, some participants got their photographs taken with a life-size photo of Mr. Trump.

Instead of providing all of the promised services, instructors used the three-day seminars to pitch consumers an expensive Trump Elite mentorship programs costing $10,000 to $35,000. Trump University promised that the mentorships provided one-on-one training during which students would have personal assistance until they executed their first real estate deal and recouped the cost of the program. While consumers were encouraged to call their credit card companies during breaks, to increase their credit limits to have access to funds to do real estate deals, the real reason Trump University asked consumers to request higher credit limits was so they could use the credit to pay for the expensive Elite programs.

Many consumers who made the costly investments did not receive the individual mentor attention promised. After an initial three-day session, many mentors failed to return phone calls or emails and provided little to no follow-up assistance. Despite diligent efforts, many consumers were unable to conclude even a single real estate deal and were left worse off than they had been before enrolling in the Trump University programs. Some consumers faced thousands of dollars of debt due to the expensive cost of the Elite Programs. Many felt they had been victims of an elaborate scam.

Trump University also committed violations of federal consumer protection law. Federal law provides a three business-day right of cancellation for the type of purchases at issue here, but Trump University repeatedly failed to honor consumers’ timely requests to cancel.

The lawsuit seeks full restitution for the more than 5,000 consumers nationwide who were defrauded of over $40 million in the scheme, disgorgement of profits, as well as costs and penalties and injunctive relief prohibiting these types of illegal practices going forward.

Consumers with complaints against Trump University should file a complaint with the OAG. Complaint forms are available here.

The case is being handled by Assistant Attorneys General Tristan C. Snell and Melvin L. Goldberg, under the supervision of the Bureau of Consumer Frauds and Protection’s Deputy Bureau Chief, Laura J. Levine; Bureau Chief Jane M. Azia, and Executive Deputy Attorney General for Economic Justice Karla G. Sanchez.

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With a staggering 400 bottles of scotch, bourbon, and rye, Noorman’s Kil bar in Brooklyn is a whiskey fan’s dream.

“We all loved whiskey and grilled cheese, so we thought, ‘Let’s go nuts with both,’” co-founder Marcel Simoneau told Business Insider.

The bar is a place for serious and casual whiskey drinkers alike (grilled cheese enthusiasts too), so we sat down with Simoneau to learn some tips on how to drink scotch and bourbon without looking like an idiot.

1. Just get to it, tipplers.

Drinkers often start with bourbon because of the taste accessibility and price point. Eventually, many connoisseurs want to move toward scotch. 

So just start tasting them, Simoneau says. For a good first date, try the classic single-malt Oban 14. Another “nice and accessible” scotch stepping-stone is The Balvenie Doublewood 12, whose sherry finish gives it a sweeter taste. For fans of peatiness – the smoky flavor that results from peat firing malted barley – Simoneau recommends Laphroaig.

2. Relax. You’re not doing it wrong.

Whiskey snobs may say there’s a “right” way to drink the stuff, but just relax. Simoneau has seen every request, from a Laphroaig 10 year Manhattan (a cocktail usually prepared with rye) to Johnnie Walker Blue and ginger ale. Point being: You don’t always need to drink it neat.

Simoneau says he sometimes adds water to scotch and ice to bourbon when drinking, but the best way to really taste a whiskey is still when it's alone in a glass. Getting the full taste and aroma also looks dorky, so know your surroundings. Swirl the snifter by your nose to get a whiff. Then put the glass to your face and leave your mouth open as you sniff – you get more of the smell that way. Now take a sip and chew the scotch to let the flavor really hit you. Boom.

3. Look for “distiller’s editions.”

Trying to impress? Peruse the menu for a “distiller’s edition” scotch or bourbon. You’ll probably find a tasty, rare, and expensive treat.

4. Older is not necessarily better.

“Some people say an 8-9 year old bourbon is the sweet spot,” according to Simoneau. Don’t just go with the oldest thing you can find to look cool, even with Scotch. Age is just a number.

5. Branch out.

Everybody has staples, but don’t be afraid to do something different. You could try the High West Campfire– a wacky combination of bourbon, rye, and scotch (one hearty sip will put hair on your chest). There’s Old Pulteney’s sea salt finish or Balcones Brimstone, a Texan corn whiskey with a hint of powdered sugar.

6. Buy the app that will make sure you never pronounce anything wrong.

Go ahead and splurge $5 for Malt Whisky, a comprehensive whiskey app for your iPhone. The app comes with an essential pronunciation guide. Simoneau says a patron once asked him for a glass of “Le Frog” (apparently that’s not how you say Laphroaig).

7. Get local.

Craft distilling takes more time and effort than craft brewing, but the two industries are both in a renaissance right now. Simoneau likes to feature New York brands, like Brooklyn’s own Kings County Distillery, distiller of award-winning moonshine. Because distilling can take upwards of 10-20 years, fledgling brands will often sell colorless, un-aged "white dogs" for their first few years.

8. It’s fine to shoot flavored whiskey.

If the owner of a whiskey bar thinks it’s OK to take shots of Fireball and honey whiskey, it’s probably OK. “I’m not going to sit with it on the rocks, but it’s just fun to shoot,” Simoneau says.

There you have it. Enjoy responsibly.

SEE ALSO: The 18 Best Bottles Of Scotch In The World

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New York is suing Trump University for alleged fraud.

Until this weekend, when the suit was announced, most of us were probably unaware that there was such an institution.

But for more than 5,000 Americans, it was a very real organization that NY Attorney General Eric Schneiderman says collectively cost them $40 million.

We went back through the full complaint, and it basically sounds like an episode of "Seinfeld" (specifically, the one where Kramer recreates "The Merv Griffin Show" in his apartment using a set he found in the dumpster) crossed with a pyramid scheme.

Here are the best and most cringeworthy allegations from the suit:

• Instead of Trump actually attending any of the seminars, attendees were often offered the opportunity to instead take a photo next to a life-size cutout.
• In addition to that, the theme song from Trump's show "The Apprentice" was played at the beginning and end of each seminar.
• A special database of lenders the "University" purportedly had insider access to was actually just"a list photocopied from an issue of Scotsman Guide, a commercially available magazine," the suit says.
• Attendees were told there was a toll-free "hotline" featuring instructors taking questions about real estate investing. The complaint says no such line existed, and instructors only made themselves available to individuals who'd signed up for the "elite" version of the seminar — "and often, not even then."
• But, students were asked to call their credit card companies during breaks in the seminar to ask that their credit limits be raised.
• The instructors repeated the business' ad claims that they'd been hand-picked by Trump himself, when in fact none of them were. And some of the instructors came to the organization after their own failed real estate investments bankrupted them.
• The organization comes pretty close to sounding like a pyramid scheme: The "students" would first attend a free seminar enticing them into paying $1,495 for a subsequent three-day seminar where they'd learn "everything they needed to know to start investing." Instructors at the three-day seminar would instead warn they would need to purchase additional programs — ideally the $35,000 "elite" program — or they would not succeed.
• Trump pocketed more than $5 million despite insinuating he would not profit directly from the organization.

For more than five years, the group allegedly ignored the warnings of  the New York State Education Department to correct its business practices and change its name (of note: state comptroller Thomas DiNapoli just issued a scathing report of that agency).

And Trump U. has still never applied for a license to operate as an educational institution.

Here's the full complaint:

NY Attorney General vs. Trump University, Verified Petition by Classlawsuit.com

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Back in August of last year, New York Times photographer Robert Stolarik was taking photographs of a street fight when he was arrested.

According to Stolarik, his arrest was brutal. While he was photographing the street fight, he suddenly found himself on the ground under six officers. He had to spend the night in the hospital afterwards. "They said I have no broken bones or internal injuries," he told New York Magazine at the time. "That's a relief, because it feels like I have broken bones and internal injuries." More important, he still doesn't have his cameras.

Michael Ackermann, the officer who arrested Stolarik, wrote in his arrest report that the photographer had discharged his flash in his face as he was trying to arrest a teenage girl. However, prosecutors now believe that account to be bogus, The New York Times has reported. Stolarik's camera was later found to not have had a flash on it at the time of the arrest.

On Monday the Bronx District Attorney announced that Ackermann had been indicted for allegedly filing false records and official misconduct. The New York Times reports that if he is found guilty, he will lose his job and face seven years in prison. Reuters says he has been suspended without pay.

Ackermann pleaded not guilty, according to the Associated Press.

Here's how the Times described the arrest at the time:

Mr. Stolarik was taking photographs of the arrest of a teenage girl about 10:30 p.m., when a police officer instructed him to stop doing so. Mr. Stolarik said he identified himself as a journalist for The Times and continued taking pictures. A second officer appeared, grabbed his camera and “slammed” it into his face, he said.

Mr. Stolarik said he asked for the officers’ badge numbers, and the officers then took his cameras and dragged him to the ground; he said that he was kicked in the back and that he received scrapes and bruises to his arms, legs and face.

The Times also notes that police said Stolarik had “inadvertently” hit an officer with his camera and had "violently" resisted arrest.

Stolarik, who has been a photographer for more than 10 years, doesn't appear to be commenting on the news. However, Mickey Osterreicher, general counsel for the National Press Photographers Association, spoke to Gothamist:

"As we've seen so many times in this narrative, very often the officer's version is a work of fiction [...] I think the officer in this case decided to get a little too creative with the flash business ... Robert doesn't even own a flash."

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The quality of a New York bagel is unlike anywhere else: Some say it has something to do with the water. Others say it's a matter of using the best ingredients.

At Ess-A-Bagel, the second-best bagel shop in New York according to Yelp users, it's also about process, precision, and practice.

Videographer Paul Lin went behind the scenes at Ess-A-Bagel to see how they make this light, chewy New York food icon.

First, a little history. Ess-A-Bagel, which means "eat a bagel" in Yiddish, was founded in 1976 at its first location on 21st Street and 1st Avenue. It later added a second location on 51st Street and 3rd Avenue.

Ess-A-Bagel's bagels are so popular that the line is usually out the door. The staff is super friendly, quick to strike up a conversation while they expertly work behind the counter.

The dough is made with yeast and, after it rises, it's cut, rolled, and formed into rings. Unlike other breads, bagels don't just get thrown in the oven—they're boiled first.

This post by Cynthia Zhang has been republished from Quora with her permission.

I competed in Miss NY Chinese in 2010, and went on to compete in Miss Chinese International in Hong Kong after being crowned the winner of Miss NY Chinese.

How I Became Involved

I joined the pageant because of a commercial that my mother saw on TV. It was back in the summer of my sophomore year in college; I didn’t have an internship or a job, so she thought it’d be a good experience for the summer. It was in fact my first time being in NYC. I went into the audition room without any expectations. They asked me to “tell them about myself,” asked me to do a catwalk, and asked me to perform my talent. That was it. And then I just waited for two days for them to call me back. 

 
When they called me back, I was in the middle of packing to go back to my home in Michigan. They literally said, “You will be in the city for training for the next three months. Come sign the contract tomorrow.” Umm… what? 

So that’s how my journey started.
 
A Few Things You Wouldn’t Know About the Pageant World…

I Made Close Friends

Perhaps it was because I was not very competitive, I ended up becoming very close to many of the girls. While some girls spent their pageant days thinking about how to stand out and how to compete against others. My mindset was to try my best and make the best out of it. No pressure whatsoever. Maybe that’s not a good thing either…? 

Til this day, about three years later, many of my close friends were made from the pageant. I am still very involved in the pageant community. I’ve been attending many of their events, whether it be judging a competition, being the guest performer, crowning successors, or just sitting in the audience silently observing. Once you are in, you are family. 

I even became very close to the girls I met through the international pageant. We don’t see each other very often since we came from all over the world, but we now have friends in every single continent. In fact, Miss Melbourne is currently visiting me in New York City! Miss Chicago is working in the city, we live about 15 minutes away!
 
Lots of Hard Work Involved

The pageant was more exhausting and a lot more work than I have expected. Most people think we just walk around the blocks and look pretty, but it is more tiring than you think. When I competed in New York, we had hours of training every weekday, and had to go to events on the weekend. We trained on how to sit & walk identical to each other, how to speak in public, how to present yourself, etc. Some girls were very competitive and took dance/voice/whatever classes on the side for extra training. The most exhausting part for me was to smile for a long time for pictures. After each event, we had to take group pictures with every person in the room possible: the sponsors, the important people (whoever they were), the makeup/hair crew, the past winners, etc. It was so tiring that by the end of the photo sessions, my entire face was sore and numb from smiling so much. I always told the girls after me to smile with your mouth closed if you get sore.

In Hong Kong, the exhaustion went up to the next level. Due to the tight schedule planned for us, there were many occasions where we had to wake up at 4 a.m. to do our makeup, and stay up to 2 a.m. filming in the studio. It is not uncommon to see girls sleeping on top of each other, or next to each other on the floor in the makeup rooms. The weather wasn’t very ideal either; we had to film in late fall/early winter in Tianjin, a city in Northern China. We’d film very early or late in the morning in summer clothing, when the temperature was almost below freezing point. Many of us got sick, and by the time we finished filming, no one could feel their fingers and toes.
 
No One is Beautiful Enough

Girls in pageantry are very conscious of their image no matter how beautiful or skinny they are. Many girls didn’t eat. It was especially apparent in Hong Kong. Perhaps it was in the Asian culture, but it was ok for people to tell you that you are too tanned (tan represents poorness in Asian countries) or too fat, even when the girls were young and beautiful. I’ve gotten many comments where people straight up tell me, “You are getting too chubby! Need to watch your figure!” A lot of the girls were so conscious of the swimsuit part of the competition that they stopped eating a few days before the competition. Some were eating, but they dipped everything they ate in hot tea to get rid of the oil, and then dipped in hot water to get rid of the tea taste. It was quite amusing to me. Most girls were obsessed with the topic “losing weight.” For a short time period, I began doubting my figure and asking myself whether I should lose weight. I was 5’9’’ and 110 lb. Not exactly what you’d call “chubby.” Fortunately, I ultimately did not give into the Asian culture, and kept on having my fried chicken at dinner along with a few other contestants coming from North America. 
 
Worldly Experience

You get to see a lot more of the world than you would normally when you compete in international pageants. I was fortunate to meet so many different kinds of people at the age of 20. In Hong Kong, I was exposed to people in the entertainment industry, finance, marketing, PR, textiles… almost every industry possible. I also got to meet many girls from all over the world.  Every girl came from a similar but different culture. There were girls from Australia, New Zealand, Thailand, Singapore, America, China… As a young college student, I definitely experienced a lot more than my peers. It has impacted me positively throughout the rest of my schooling and my career. I am more open to new cultures and people. One significant difference I have noticed is that I’m no longer afraid to talk to people that I have absolutely nothing in common with. I used to actively avoid meeting people without common interests, but now I think it’s a pleasure and an opportunity to learn and network with them. It was the pageant that made me realize that you learn the most when you are out of your comfort zone.
 
We Are Not Stupid

When you think of pageant girls, you might think, oh they just look pretty and they are probably not educated. Yes, there are some who focus more on getting into the entertainment industry rather than education. But no, some of us are not stupid at all. There were girls from University of Manchester, University of Melbourne, Northwestern, Princeton, everywhere. If anything, the pageant makes girls become more well-rounded and more successful in life.

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Employees of a Journeys shoe store in Rochester, N.Y. apparently walked out in the middle of a recent workday and left this angry note posted to the store gate after they locked up:

Gawker alerted us to the Reddit post that called attention to the photo. Gawker says "Jamie" is a district manager for Journeys.

It appears the dramatic walk-out was triggered by the district manager telling an employee that "cancer is not an excuse" along with other abusive treatment of staff.

Multiplecommenters on the Reddit thread wrote about the poor work environment and high manager turnover at Journeys.

UPDATE: Journeys has sent us this statement: "We take situations like this seriously and are currently investigating this issue.  Beyond this, we have no comment."

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The shoe store district manager who was chided by now-former employees for allegedly saying "cancer is not an excuse" and being verbally abusive has been mischaracterized, a source tells Gawker.

Employees of the Rochester, N.Y. Journeys store reportedly walked out in the middle of a shift during busy Back-to-School season, leaving this public note that went viral on social media this week (via Reddit):

District Manager Jamie's side of the story is now coming out. Gawker's source, who claims to have direct knowledge of the events leading up to the walkout, says the employees who quit were bitter about being reprimanded for violating company policy and have also been accused of stealing merchandise.

The employees wanted to publicly humiliate Jamie, according to the source. The source also claims that Jamie didn't make the cancer comment and that none of the employees who work there have cancer and neither do their family members.

Gawker's source appears to have spoken to Jamie about the note incident after it happened. The source provided the conversations to Gawker. He also says Jamie has gotten threats and "has to be escorted from stores at night and is being constantly harassed about this by the media."

Journeys sent this statement to Business Insider yesterday: "We take situations like this seriously and are currently investigating this issue.  Beyond this, we have no comment."

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When you think of Facebook's offices, its sprawling Menlo Park, California campus is usually what comes to mind. 

But in New York, Facebook's office has grown a lot over the last year. What once housed a few dozen engineers, is now closing in on 200 staffers. 

In fact, Facebook is growing out of its offices on the 13th floor of the Bank of America building in midtown Manhattan and plans to move to a bigger office in SoHo in a few months.

Before that happens, we took a tour of Facebook's New York HQ. 

The hallway that leads to the Facebook office's entrance has "Proceed and be bold" painted in giant letters. They even painted the letter on the wall behind the door to the elevators in case they're open.

Welcome! Guests at Facebook sign in on a special iPad app. You type in the person you want to meet with and the app pulls in their Facebook profile photo.

We're in! When you first enter Facebook's office, you're greeted by a huge wall. Guests are encouraged to sign it.

Click here to see the story at Guest of a Guest >

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For the first time in its history, New York Fashion Week will feature a plus-size clothing line on its runways.

This is a big deal considering the recent controversy over certain brands — like Abercrombie & Fitch — saying they refuse to carry large sizes.

But designers and brands are starting to realize the potential in selling plus-size clothing, and now the "Plus Size Revolution" is hitting Fashion Week as well.

Cabiria, a plus-size clothing line that sells sizes 12 through 24, funded its spring/summer 2013 collection through a Kickstarter campaign that raised more than $13,000. Cabiria is one of six designers the Fashion Law Institute chose to be part of its showcase.

The designer, Eden Miller, told Fashionista that she's "really hoping that [Cabiria] is seen just as the other offerings at Fashion Week."

Fashion Week kicked off on Thursday in New York.

Here's a look at Miller's line:

Cabiria SS13 Lookbook from Cabiria on Vimeo.

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With a controversial plan to develop NYCHA property, mayoral hopefuls spending an evening in one of the neighborhoods public housing developments, and the continually skyrocketing price of real estate, East Harlem (or Spanish Harlem( is one of the neighborhoods at the center of the gentrification debate in New York. 

One of the city's poorest districts, East Harlem has a median household income around $30,000, compared to around $55,000 for all of New York City, according to U.S. census data from 2010. But the area is also just north of Yorkville, one of Manhattan's wealthiest and most expensive neighborhoods, making it a prime spot for development.

Spending time in the area and talking to the people who live there you can see the changes taking place in this dynamic neighborhood.

East Harlem, Spanish Harlem or "El Barrio,"— from 96th St. to 125th St. (some say 146th St.) and Fifth Ave. and the East River.

Spanish Harlem is changing. Dark purple real estate is selling at prices that are much higher than the median income of the block ... i.e., rich people are moving in.

The new Spanish Harlem.

It's been twelve years since the devastating 9/11 terrorist attacks, and as the sun goes down tonight, the "Tribute in Light" will once again light up the New York City skyline.

Placed next to the World Trade Center site, 88 search lights will turn on to show a seemingly neverending beam into the heavens.

From Mail Online, writing about the event on the 10th anniversary:

Last night the group of 30 electricians, stage hands and technicians pushed on with calibrating the 88 bulbs that will be projected upwards from Ground Zero in memory of those killed in the attacks.

It is one of a host of events in memory of the 2,753 who died on the site of the Twin Towers in 2001.

The lights will cap off a day of somber remembrance, which included a moment of silence at the White House and the Pentagon as well as friends and family members at the 9/11 memorial reading the names of those killed. Yesterday, construction also began of a national memorial in Shanksville, Penn. in memory of those who lost their lives on United Flight 93, according to NBC.

On a clear night, the beams can be seen from more than 60 miles away.

Here's a live stream from NBC News: 

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NEW YORK (Reuters) - A federal judge ruled on Wednesday that the owners of a New York City skyscraper at the center of a long-running dispute violated U.S. laws against doing business with Iran.

The ruling, which is likely to be appealed, could result in the building, 650 Fifth Avenue, being seized by the U.S. government.

The ruling came just days before two parallel trials were to begin in federal court in New York in which the Justice Department and private plaintiffs were seeking to take control of the building.

"I understand the monkey wrench I'm throwing into things," U.S. District Judge Katherine Forrest said in a telephone conference with lawyers on Wednesday.

Forrest, granting a request by U.S. prosecutors to decide the case ahead of trial, said there was "no triable issue of fact."

Forrest found that the majority owner of the building, the Alavi Foundation, knew that two minority owners were fronts for Iran's Bank Melli, in violation of the International Emergency Economic Powers Act and U.S. money laundering laws.

Enacted in 1977, IEEPA empowers the president to deal with threats related to national emergencies. In 1995, President Bill Clinton issued an executive order banning the supply of most services from the United States to Iran.

Lawyers for the Alavi Foundation and the minority owners, Assa Corp and Assa Co Ltd, did not immediately respond to request for comment on Wednesday.

According to the U.S. government's lawsuit, the building was constructed in 1979 by a foundation set up by the Shah of Iran. That foundation was eventually succeeded by the Alavi Foundation after the Iranian revolution. In 1989, Alavi and Bank Melli used the two Assa entities to disguise Bank Melli's involvement, the government said in its lawsuit.

In court documents, Alavi's lawyers have argued that the building has not been controlled by Iran since 1995, when U.S. sanctions took effect.

Private plaintiffs, victims of attacks that they contend were aided by Iran, filed their own lawsuit seeking to seize related assets.

Wednesday's ruling does not include seven properties that are in Alavi's name only, which the private plaintiffs will seek to seize in a non-jury trial, Forrest said.

(Reporting by Bernard Vaughan; Editing by Cynthia Osterman)

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If you've never been to New York before, there's no better way to see the Big Apple than through the imagination of an author. 

These 15 books tell tales of New York in the days of Jewish tenements, the Beatnik Generation, and modern day Upper East Side affluence.

We consider these books some the greatest New York stories ever told, as they show the city in all its history, culture, grandeur, and disillusion.

Have a suggestion for a great book about New York? Let us know your pick in the comments.

"Breakfast at Tiffany’s" by Truman Capote (1958)

All Capote’s disillusioned character Holly Golightly wants in life is to make a real life place for herself where she feels as at home as she does at Tiffany’s, the place where nothing bad can ever happen to you.

But her luxurious 1940s “American geisha” lifestyle is unraveled, through the eyes of the narrator whom Holly calls “Fred,” and her realization that perhaps her life has no meaning unless she gives up all her frivolity.

Buy the book here »

"A Visit from the Goon Squad" by Jennifer Egan (2010)

Likely the best book you can read with a chapter told through PowerPoint slides, "A Visit from the Goon Squad" is an often-maddening masterpiece filled with distinctive characters like aging music-exec Bennie and his troubled former bandmate Scotty.

Shifting across decades at seemingly every turn, Egan's novel covers everything from often-idealized 1980s underground cultures to an imagined post-9/11 future.

Buy the book here »

"Time and Again" by Jack Finney (1970)

Finney's "illustrated novel" contrasts the anxiety of 1970s city life with the relative innocence of New York before the 20th century.

When Si Morley travels from 1970 to 1882, he encounters a world peppered with old New York landmarks like the Dakota apartment building and the titans of industry who dominated the age.

Buy the book here »

New York City is a magical place in the fall.

There are crisp days perfect for walks in the park, hot apple cider from local farmer's markets, and football.

There are also tons of events and festivals, from the New York City Marathon to the Wine & Food Festival.

Autumn officially starts this Sunday on the 22nd, so get ready for the new season with our ultimate guide on what every New Yorker should do this fall.

Gorge yourself on sausages with peppers and Cannolis at the Feast of San Gennaro in Little Italy, which ends September 22nd.

For a map and event schedule, click here >

Now that the weather is no longer stifling, slurp up a bowl of hot ramen from Ippudo with toppings like boiled egg, bamboo shoots, and pork belly on a brisk fall day.

For directions and a menu, click here >

Go apple picking at one of the gorgeous orchards in upstate New York, Connecticut, or New Jersey, where you can wander the grounds picking bushels of your own fruit.

Some good options near New York City include Applewood Orchards & Winery, Barton Orchards, Dr. Davies Farm, and Greig Farm.

For more suggestions, click here >

New York Attorney General Eric Schneiderman drew a line in the sand at the Bloomberg Markets 50 Conference today. The line is between him and all the high-frequency traders that get an advantage by receiving key market information early.

It's a thin red line.

"When blinding speed is coupled with early access to data, it gives small groups of traders the power to manipulate market movements in their own favor before anyone else knows what's happening," said Attorney General Schneiderman. "They suck the value out of market-moving information before it even goes public. That's 'Insider Trading 2.0,' and it should be a huge concern to anyone who cares about the markets and the free flow of capital on which our economy depends."

If this continues, he added, no one will trust the markets anymore. No one will invest.

This has become a major issue over the last year. Most notably, Simone Foxman at Quartz broke that there was an agreement between the University of Michigan and Reuters that allowed Reuters to leak data early to privileged (paying) customers.

After that, Schneiderman told the audience at Bloomberg Markets 50, the New York attorney general's office started investigating the matter itself.

"The power to skew the markets was exactly the 'service' that Thomson Reuters provided to select customers," Mr. Schneiderman said.

Today, CNBC reports that some traders got news of Ben Bernanke's crucial decision not the taper $85 billion worth of monthly bond buying before everyone else.

To high-frequency traders, said the AG, that is what separates the "smart money" from the rest of us, the "dumb money."

"A lot of us here are probably part of the 'dumb money' because that includes everyone who doesn't have a supercomputer capable of flipping tens of thousands of shares in nanoseconds and access to market-moving information just a tiny bit ahead of everyone else," he said.

So all together it's not hard to see why Schneiderman's office is making it a priority.

Schneiderman is no slouch either. He was one of the attorneys general that most vigorously pursued banks for mortgage fraud in the (ongoing) aftermath of the housing crisis. Before that he was a New York state senator known for bringing lawsuits against corporations and individuals that hurt his constituents.

Plus, since the age of Eliot Spitzer, the New York attorney general's office has been ground zero in the state for the prosecution of financial fraud.

So we expect to see some results.

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The first step in the NYC buying process is to decide if you are better fit for a co-op or condo. 

NYC apartments come in two flavors: Co-op (short for "cooperative") and condominium.

Older buildings (pre-1980s) tend to be co-ops, while pretty much everything built from the 1980s onward is condo. Beyond that distinction, your personal or financial circumstances, along with your lifestyle preferences and past experience, might guide you toward one or another.

Or, like many people, you may simply decide to look for the best apartment you can afford in a financially sound building, be it co-op or condo.

Here's a quick overview of the key differences and considerations.

Ownership structure

Photo Credit / Barrons

CO-OP:  While co-ops are common in NYC, most people in other parts of the country are unfamiliar with their unique ownership structure.

In a co-op, the entire building is owned by a single corporation. Instead of a deed, buyers get shares (stock certificates) in the corporation, and a proprietary lease that allows buyers to occupy a specific unit and lays down the rules and rights much like a lease in a rental building.  (In fact, technically speaking, buyers of co-op apartments are referred to as “tenants” or “shareholders,” not “owners.” )    

CONDO: Buying a condo is very much like buying a single-family house.  You get a deed to the apartment that gives you ownership of the interior of your unit and the surface of its walls, as well as an undivided interest in the building’s common elements. This is the type of ownership almost everyone has in mind when they think about buying a home, and almost all newer buildings are condos.

After you buy your apartment, you will largely find that the legal ownership structure has little impact on your use of it. However there are a number of quirks related to each that will be discussed further below.

Co-op and condo boards

CO-OP:  Shareholders elect a volunteer co-op board that--except in some very small buildings that choose to save money by self-managing--works with a property management company to oversee the care and maintenance of the building.

The board also creates and enforces rules about everything from renovation inside units, to what’s allowed to transpire on the roof deck, to whether you can speak on your cell phone in the lobby, or whether dogs will be allowed in the building.  The board can levy fines against rule-breakers and, unlike condo boards, can even evict an extremely disruptive shareholder and force them to sell their apartment. 

Overreaching, power-hungry co-op boards are the stuff of legend here, and many of the stories are true. At least as many co-op boards are made up of volunteers with full-time jobs and families who try to make the best of what is a demanding and time-consuming role if done right.

CONDO:  Condo owners also elect a board of directors that perform many of the same functions as a co-op board. Generally speaking, though, most condo boards tend to be more hands-off when it comes to rulemaking.  

That slightly more laissez-faire approach is partly due to philosophical underpinnings (more on that below) and partly because condo boards wield less enforcement muscle: They can fine owners only for the expense related to any rule infraction (or get an injunction to stop it from happening again). But because a condo owner actually owns his or her unit, a condo board, unlike a co-op board, can’t evict an owner from an apartment.

Note: In both co-op and condos, your voting power increases with the size of your apartment.

Monthly charges and assessments

CO-OP:  Co-op shareholders pay a monthly maintenance fee. Part of the fee goes toward the expense of operating the building. The other part is the amount of property taxes apportioned to each shareholder based on the number of shares assigned to each apartment.  Particularly these days, when property taxes and fuel costs are rising sharply, maintenance fees are frequently adjusted upward each year (3%-7% annual increases are quite common).

In addition, co-op boards can require shareholders to pony up extra cash from time to time to boost the reserve fund or pay for a specific project.  In a 40-unit building, for example, an assessment to replace an elevator might run $8,000-$15,000 per unit, depending on how many shares you own. Typically, shareholders can spread their payments out over a period of time such as 6-18 months.

CONDO:  The monthly charges in a condo building are referred to as common charges. Property taxes are not included; individual owners are billed directly by the government. This is an importance nuance to keep in mind when comparing carrying costs of co-ops to condos, because at first glance, condos may look cheaper on a monthly basis.

Like co-op boards, condo boards also levy assessments when necessary.

Monthly charges in both co-ops and condos tend to increase with the expansiveness of amenities and staff. However, larger buildings have economies of scale when it comes staffing and operation that are often reflected in lower common charges.

Approval to buy

CO-OP:   We’ll go into more details about the approvals process below, but for now, let’s start with the fact that a co-op board can turn down a buyer for any lawful reason. And because the reason need not be divulged, this means that in practice, unlawful reasons (race, religion, profession, sexual orientation, nationality, etc.) may also prompt a rejection. (Note: If you buy an apartment directly from the sponsor, you will not need board approval at all.)

CONDO:  For various reasons, most condo buyers these days are subjected to nearly as much financial and personal scrutiny as co-op buyers. But rather than being turned down outright, pretty much the worst that can happen to a condo buyer is that they wither away on the vine while a board engages in deliberate stalling tactics. Stalling is about all an unenthusiastic board can do, except for buying the place outright via the right of “first refusal”—which virtually never happens.

Minimum downpayment and liquid assets

CO-OP:   Most co-ops require buyers to put down 20-25% of the purchase price, about the same as what most lenders require these days.   But the range can be vast, depending on the co-op—anywhere from 10% down (very rare) to 50% or more at higher-end buildings.

Co-ops also expect you to have sufficient money left over (also known as ‘liquid asset requirements’). The required amount can range drastically, from a few months worth of maintenance payments to 1 to 3 times the purchase price of the apartment. Two years worth of mortgage and maintenance charges is about average.

In addition, each co-op will expect you to meet a debt-to-income ratio, usually around 25%-29%. That means your total monthly payments--mortgage and maintenance--cannot exceed the specified percentage of your gross income. An excellent credit score is also required.

Add them all up, and you will find that the average co-op's financial standards are much higher than the average mortgage bank...a primary reason NYC co-ops withstood the recent recession so well.

CONDO:  The typical downpayment required in a condo building is around 10%, depending on the building’s bylaws. Bear in mind, though, that if you’re getting a mortgage, banks these days often require 20%, unless the building qualifies for an FHA loan, which carries a 3.5% downpayment requirement.

Many co-ops and condos these days require buyers to put an additional one to two years of common charges in an escrow account as insurance against nonpayment. The odds of this happening to you increase along with the perceived 'riskiness' of your application, as measured in debt-to-income ratio, U.S. citizenship status, or a variety of other factors.

Cost

NYC co-ops are cheaper, on average, than condos.  In the second quarter of 2013, for example, condo buyers forked over an average of $1,381 per square foot in Manhattan, approximately 40% more than co-op buyers, who paid an average of $983 per square foot, according to the appraisal firm Miller Samuel. (The firm's reliable quarterly market reports, available for free online, show pricing trends by size and type of apartment as well as by borough.)

Part of the reason co-ops tend to cost less is because they are typically older, lacking the bells and whistles of the tens of thousands of new condos constructed in the past decade. Many newer condos have also secured property tax abatements that enable developers to command higher sales prices than if buyers had to pay full tax bills right away.

Another reason co-ops are cheaper is that buyers usually must be approved by a board. That process involves a mountain of paperwork, a personal interview, the possibility of rejection, and the total (and totally one-sided) opening of your financial kimono to folks you will share the elevator with for years to come.

In addition to higher purchase prices, condos also have substantially higher closing costs if you’re taking out a mortgage: You will pay a mortgage recording tax of 1.8% of the mortgage amount for loans under $500k or 1.925% for loans above that.  Also, your lender will require you to buy title insurance, which costs about .5% of the purchase price.  

(Note: The New York State legislature is trying to extend the mortgage recording tax to co-op purchases as well.)

If you're buying a new condo (versus a resale), transfer taxes (1.825% of purchase price for properties over $500,000, and 1.425% for properties under $500,000) are also your responsibility, though these can often be a point of negotiation with a developer, who is more apt to cover fees like this than reduce the sales price, which can affect future sales.

RELATED STORIES

• How often do co-op maintenance fees go up? Do they ever go down? »
• Ask an Expert: How much should maintenance fees affect the price of an apartment? »

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Nello Balan, owner of  Nello, an Upper East Side restaurant (and favored Wall Street eatery), has sold a 4 pound, $95,000 white truffle to Russian billionaire Vladimir Potanin, according to the New York Post. 

It may be the largest white truffle ever sold.

Bloomberg estimates Potanin's net worth at around $13.5 billion. He is one of Russia's super rich businessmen known as an "oligarchs" that control vast amounts of Russia's natural resources.

Potanin's wealth comes from nickel — he owns 30.4 percent owner of Norilsk Nickel, the world's largest producer of the commodity.

Potanin spends most of his time in Moscow, so it's likely that the truffle won't be in NYC for long. Given how serious the truffle bubble is getting in this town, though, that could be a good for all of us.

Now see how can Potanin use those truffles>>

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Russian billionaire Vladimir Potanin bought a $95,000 white truffle from NYC restaurateur Nello Balan, according to the New York Post.

And now that we're over the price tag, the only question remains... what the heck is Potanin going to do with all that expensive truffle?

White Alba truffles, as they're known formally, are incredibly rare. They hail from the Alba region of Italy and have never been domesticated — dogs and pigs are used to hunt them where they grow at the base of oak trees.

White Albas are also seasonal, which means here in NYC, around late September/early October total truffle madness ensues. Shipments are well documented on food blogs around town, and restaurants tweet out updates of their truffle supply status.

Business Insider reached out to some local foodies to see what they would do with four pounds of these incredibly rare fungi and the response was quick — first thing's first, said one, "I'd make truffle oil to sprinkle on EVERYTHING!"

That involves simmering the truffle in oil so that its flavor is released into the oil. The stronger you want the flavor, the more truffle it will take, and Potanin's chef definitely won't use all of it. Four pounds is a lot of truffle.

After you've got the truffle infused oil, you can use it to make glorious truffle fries (or something else... but we like fries).

It also might be a good idea to dry some of the white Alba truffles and freeze them for a rainy day.

After that, the world is Potanin's oyster. The white Albas can be infused into butter, cream, cheese or milk (you may want to freeze those dairy products too).

The truffles can be used in a pasta or risotto (pretty standard), or you can just put a healthy portion on top of your favorite dish.

Some winning dishes from last year's NYC truffle season include Restaurant Marc Forgione's addition of white Alba shavings to his brick chicken and Colicchio and Sons' gnocchi with white truffles.

As Eater NY put it so succinctly last month — "Expect truffle burgers, truffle pizzas, truffletinis, and truffle tastings to land on menus around the city in the coming weeks. Maybe Dominique Ansel will throw us a bone and stuff some truffles in a Cronut."

We'll see what kind of truly inspired truffle dishes come out of this season's mania after the dust settles and the city runs out.

Vladimir Potanin, for his part, won't have to do that kind of soul searching for a while.

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