Reality Check: Mamdani’s “transfer” program gets started

by The Real Deal

When Mayor Zohran Mamdani on Thursday announced the “transfer” of a rent-stabilized portfolio, I thought: Have the socialist property seizures begun? In one sense, yes, because the mayor is dangling city resources to steer buildings plagued by frozen rents to a buyer he likes. And because he likes the buyer, he is cheering the $86,000-per-unit sale just months after slamming an $88,000-per-unit sale as too expensive. Mamdani’s press release wrapped up the transaction in a neat little bow. “Today, Mayor Zohran Kwame Mamdani celebrated the transfer of three long-neglected, rent-stabilized apartment buildings in Crown Heights, Brooklyn, putting 88 homes on […]

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