"During the mayor's race I wrote a bunch of columns criticizing Mamdani's simplistic or unrealistic promises, while realizing that the point of campaigns is to win. Candidates with complicated, plausible proposals tend to lose, as Hillary Clinton could tell you. I also felt that Mamdani would moderate his views, appoint some experienced and pro-housing people and try to govern, rather than let the Democratic Socialists of America take over City Hall,"
"Then you are at least as worried or desperate as you were before the election. Because Eric Adams failed to appoint all of the Rent Guidelines Board members he could before leaving office, and reality-based member Alex Armlovich resigned Tuesday (citing a new job), Mamdani was able to bring in five of his own people and reappoint a sixth. It's reasonable to assume that they will go through the motions of considering the data, then vote to do what Mamdani wants: freeze rents."
Fifty days into Zohran Mamdani's mayoralty, major real estate sectors have not collapsed and office landlords, condo developers, and luxury agents see increased activity. Mamdani resumed sweeps of homeless encampments and appears attentive to political narratives. Fully rent-stabilized building owners remain highly concerned after Eric Adams failed to fill all Rent Guidelines Board seats and reality-based member Alex Armlovich resigned, allowing Mamdani to appoint five new members and reappoint a sixth. The new board is likely to review data then vote to freeze rents, creating significant financial pressure for landlords of rent-stabilized properties.
#zohran-mamdani #rent-stabilization #real-estate-market #rent-guidelines-board #homeless-encampments
Read at therealdeal.com
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