NY Dirt: How Mamdani rode high rents into office 

How did Zohran Mamdani win middle- and high-income renters? One explanation is backlash.  “Market rent growth has been going through the roof in the last few years,” said Robert Nelson of Nelson Management Group. “At the end of the day I think that’s why our mayor is in office right now.” Nelson was speaking at Ariel Property Advisor’s Coffee and Cap Rates event Thursday. The runaway price growth, he told the crowd, was concerning.  It’s true, market-rate rents have been on a record-setting tear for more than a year, with still strong growth before that.  Median rent for a brokered, […]

This article originally appeared on The Real Deal. Click here to read the full story.