M
ayor Eric Adams' future in office hangs in the balance as Governor Kathy Hochul warns him to demonstrate his administration's effectiveness and ethics. If he's removed or leaves, Public Advocate Jumaane Williams would take over temporarily, but his authority would be limited. Williams has a history of clashing with real estate interests, which may not bode well for industry professionals.

    The candidates vying to succeed Adams next year are more progressive than the mayor, including City Comptroller Brad Lander and Sen. Jessica Ramos. Former Gov. Andrew Cuomo's potential entry into the race could bring back the tradition of mayors and governors at odds with each other.

    Meanwhile, uncertainty surrounding Adams' fate has raised concerns about retaining senior officials in city agencies dealing with the housing crisis. Dan Garodnick, City Planning Chair, remains committed to addressing affordable housing despite the turmoil.

    In other news, a joint venture is exploring plans to take over platform sites at Atlantic Yards after creditors foreclosed on Greenland USA. Empire State Development has confirmed that Related Companies will secure approval for the project.

    The ongoing investigations into Adams and his inner circle have led to subpoenas and seizures of phones and cash from city officials. The Manhattan DA seized Ingrid Lewis-Martin's phones, while the Department of Investigation took cash from safes at the city sheriff's office as part of a probe into improper money handling.

    Residential sales include a $17.9 million condo unit in the West Village, while commercial sales reached $16 million for an apartment complex in Brooklyn. The highest-priced new listing is a $25 million Greenwich Village townhouse.