realestate

New York City Mayoral Candidates' Real Estate Policies Compared

Progressives line up to replace Mayor Eric Adams, as his potential departure sparks a new sense of urgency in the NYC mayoral election.

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everal progressives had lined up to replace Mayor Eric Adams before his indictment, but now his potential departure has brought urgency to the race. Real estate professionals, who tend to favor moderate politicians, found an ally in Adams, but those running or considering a bid are more progressive. Here's a look at their real estate records and priorities.

    Public Advocate Jumaane Williams would take over as interim mayor if Adams steps down or is removed. As interim mayor, Williams wouldn't be able to appoint agency heads, but he'd have authority over the budget and could negotiate with the City Council. He publishes an annual "Worst Landlords" list and has supported measures that put him at odds with the real estate industry, including universal rent control and a tax on billionaires.

    Sen. Jessica Ramos may count influential unions among her supporters due to her alignment with construction unions on key issues. She's sponsored bills that forced construction managers to assume responsibility for unpaid wages and benefits, but refused to introduce legislation needed by Mets owner Steven Cohen to build a casino next to Citi Field in her district.

    Comptroller Brad Lander pushed legislation to ban for-profit developers from acquiring city-owned land for affordable housing while in the City Council. He also supported the Adams administration's City of Yes for Housing Opportunity, but said he'd take a less top-down approach. Lander supports building more homes to address the city's housing crisis.

    Sen. Zellnor Myrie has supported measures feared by the real estate industry, including the Tenant Opportunity to Purchase Act and good cause eviction. He emphasized the need to build more homes to address the housing crisis, but also backed a proposal to rezone a site in Brooklyn for a 244-unit residential building.

    Scott Stringer, who unveiled his mayoral campaign in 2020, took aim at real estate developers with his "universal affordable housing" plan. While he's committed to working with the industry, he acknowledged that his original plan wouldn't be feasible. Stringer supports the mayor's City of Yes for Housing Opportunity but said zoning changes don't go far enough.

    Former Gov. Andrew Cuomo is reportedly considering a run and could be the most moderate Democrat in the field, despite his past progressive rhetoric. Real estate sources indicate he'd likely be their pick, given the other options on the table. Democratic leaders are also pushing state Attorney General Letitia James to enter the race, who has targeted deed theft and cracked down on landlords accused of illegally deregulating stabilized apartments.

    Assembly member Zohran Mamdani, a former foreclosure-prevention counselor and member of the Democratic Socialists of America, is pondering a bid. Republican Council member Joseph Borelli told the Staten Island Advance he'd consider running if a nonpartisan special election is called to replace Adams.

New York City mayoral candidates discuss real estate policies in Manhattan forum.