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.
Categories
Recent Posts
Latest Architects’ Survey Shares What’s Hot And Not In
American Homes
The Three Operational Investments That Actually Move Renewal
Rates
What To Know About Each Stage Of A Commercial Real Estate
Deal
Why Luxury Retail Is Shifting To Smaller Stores, Bigger
Flagships
Biologique Recherche Debuts A New Architectural Concept At
Its SoHo Location
Lender wins foreclosure sale for Mike Kohan’s Garment
District office building
Judge halts initial pied-à-terre tax rollout, orders
do-over
Housing Notes: Sinking sales at the
Sherry-Netherland
Long Island’s Oheka Castle hitting auction block after
foreclosure
AG James settles first case in de facto rent stabilization
sweep
