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    **Real‑Estate Update**

    Mamdani’s pledge to freeze rents and expand affordable housing is expected to face legal challenges, according to industry sources. Just as former Mayor Bill de Blasio’s banking reforms were stopped by courts, Mamdani’s housing agenda may encounter similar obstacles. Despite these promises, New York City firms continue leasing new spaces, indicating they are not pulling out even if profits could be affected. After defeating former Governor Andrew Cuomo, Mamdani heads to City Hall, and real‑estate attorneys are watching closely to see how his initiatives will shape their practice next year.

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