The industry is climbing to ensure that Andrew Cuomo is the next mayor. The industry has resigned from a socialist mayor.
Both things can be true because, different from the depositThe real estate sector is not a cybernetic collective with shared consciousness.
Related companies CEO Jeff Blau took the BAT signal on Monday evening and called on colleague developers and other UltraWealthy donors to meet the next morning, The New York Times reported. According to The Times, those present gathered to the former Gov. Andrew Cuomos to strategize to victory. Whether this has been translated into a concrete action plan or simply managers cutting checks in the pool room of the Seagram building is unclear.
Of course, if the strategy is to throw more money on the campaign, that is almost the same strategy that is used pre-primary.
In the meantime, some affordable home developers – as De Borg likes to say – resistance is meaningless.
A developer told me last week that people in this room meet Mamdani and wanted to be part of his conversations for agenda setting and administration. The Wall Street Journal spoke with developers who prepare housing proposals for Mamdani.
Some in the industry decided to support Mamdani Post-Primary, simply because he is the democratic nominee. As I reported earlier, professionals in the affordable and non -profit home world, as well as other sectors (real estate management, construction, architecture and brokerage) also donated to his campaign, although not to the same extent we have seen with Cuomo and Mayor Eric Adams.
The point is: there are many rooms in this industry, not just the pole room. Even within each of these rooms there are variations. (Related, one of the largest developers in the city, has started with affordable homes, which still builds it alongside luxury residential, office towers, etc.)
And how people in these rooms look at the race is fluent.
A poll by New York Times and Siena University showed that 46 percent of the likely voters are planning to cast their vote for assemblage member Zohran Mamdani. The polls showed Cuomo in second place by 24 percent.
The margins beg considerably when the race becomes a two -way match between Mamdani and Cuomo, with the first 48 percent taking and the last 44 percent of the votes. Adams and Republican nominated Curtis Sliwa have sustained that they are staying in the race, and even if they stop, they will probably be Stay on the mood.
Yet, if the race is limited to two contenders, the calculus can change for those who want to work with Mamdani. It will be a long two months!
What we think about: Are you a developer who decided to pursue a project – either in the very early stages or once the public assessment has started – because the local councilor made clear their opposition? Send a comment to kathryn@thereealdeal.com.
Something we learned: The Vatican has an observatory since 1891, which is now run by Guy Consolmagno, known as the “Pope of the astronomer”, According to the New Yorker.
Elsewhere in New York …
– Testimony was heated during recent public hearings about the Downstate Casino offers, The city reported. During meetings in Queens and the Bronx, supporters and opponents weighed the value of the promised community benefits and economic activity of two controversial proposals for new developments in addition to public parks: Steve Cohen and pray of Hard Rock International for Citi Field and Bally’s Casino in Ferry Point Park.
– Residents of Greenpoint complain according to worsening vapors, dust and scents of the green asphalt factory of Long Island City, according to Gothamist. The factory says that it has not changed its activities since the opening in 2011, but the local population is of the opinion that the problem has become noticeably worse in the last three years. The Department of Environmental Conservation has cited the Facility for Air Quality violations and has commissioned it to increase its chimney and add emission control. However, compliance remains unclear.
– apartment construction in the city took a dive this year and this year he fell 67 percent, according to data from Costar, Commercial observer reported. On the new 485x tax reduction, developers pointed to increasing the costs and eroding returns, while shifting investments to existing buildings instead of new ones. – Quinn Waller
Closing time
Residential: The best residential deal was recorded on Wednesday was $ 14 million For a cooperative of 6000 square base at 1010 Fifth Avenue on the Upper East Side. Sheila Ellis and Patricia Wheatley van Sotheby’s International Realty had the list.
Commercial: The best commercial deal was $ 56.7 million For a project with 372 Schermerhorn Street and 475 State Street in the center of Brooklyn. The two buildings are part of a proposed project of 538 units that are dubbed a third avenue; The real deal Reported in August about the development of the alloy that $ 500 million secured for development.
New on the market: The highest price for a home that hit the market was $ 26.8 million For a condominium unit of 3,347 square foot on 15 Central Park West on the Upper West Side. The Mercedes Berk team with Engel & Volkers has the list.
Breaking Ground: The largest new building permit was for a proposed project of 42,794 square foot mixed use on 42-62 24 Street in Long Island City. This plan includes an atticed parking garage with retail trade with the 39-storey housing project through Grand Construction & Development on 23-07 43 Avenue.
– Matthew Elo
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