I
n the aftermath of two high-profile suicides in the real estate industry, I assigned a story to our team about how developers cope with disaster. It was a challenging topic because this industry rarely acknowledges professional failures and struggles to deal with them. However, Josh Schuster and Eric Brody bravely shared their stories, inspiring others in the industry to do the same.

    Reporters Elizabath Cryan and Jess Hardin's article is a powerful example of this. One scene from the story could have been pulled straight out of an HBO drama. At a networking event, developers at Schuster's table were boasting about their projects when he dropped all pretenses and revealed his struggles with condos that weren't selling, tenants who weren't paying rent, and defaulting loans.

    To everyone's surprise, several colleagues reached out to discuss similar problems they were facing. One of them, Brody, even showed up in person to talk. Schuster has since made a comeback in the solar business and regrets not seeking help sooner. His story is proof that it's never too late to ask for help.

    In other news, we're considering which potential successors to Mayor Eric Adams would be best or least bad for real estate. We've also learned about LCOR's innovative approach to reducing carbon emissions at their new luxury apartment complex in Coney Island. The City Council is holding public hearings on the City of Yes for Housing Opportunity proposal, which has drawn strong reactions from both NIMBY and YIMBY groups.

    A public relations person pitched us a story about how oversupply of apartments is pushing rents down, but it turned out to be a client with a vested interest in promoting multifamily investments. Finally, we've got the latest residential and commercial sales data, as well as new listings and building applications hitting the market.