T
he City of Yes proposal looms large over other City Council debates, with Council member Carmen De La Rosa expressing frustration with the Adams administration's stance on her Construction Justice Act. The bill aims to establish a construction wage floor for housing projects receiving city subsidies above $1 million. Officials from the Department of Housing Preservation and Development testified that it would increase costs and reduce overall housing production.

    De La Rosa countered, "We can imagine a reality where we build affordable housing and pay workers a dignified wage." She accused the administration of pitting worker needs against affordable housing requirements. Her comments suggest that supporting City of Yes might depend on how the Council approaches the Construction Justice Act.

    The bill has 34 sponsors, a veto-proof majority. The outcome will likely impact the fate of City of Yes for Housing Opportunity. As the debate unfolds, it's clear that the Council member's comments are a warning: if you want City of Yes to pass without being gutted, pick your battles carefully.

    In other news, Douglas Elliman CEO Scott Durkin has left the company, and we're seeking information on his next move. Elsewhere in New York, the City Council will hold a hearing on DCAS leasing practices, Mayor Eric Adams announced adoption benefits for non-union municipal employees, and five candidates vying to replace him spoke out against his policies at a forum.

    Residential sales included a $12.1 million penthouse condo at 39 West 23rd Street, while the largest commercial sale was an apartment building in the Bronx for $15.7 million. A new construction condo unit at 500 West 18th Street hit the market for $24.6 million.