A solution for vacant units and Mamdani’s trust problem
Why would senior Mamdani aides walk into a lion’s den of 3,000 real estate junkies who hate HPD violations and the mayor’s politics? In a bit of a surprise, the Mamdani administration made a big effort to connect with the industry at The Real Deal’s New York Forum this week, sending Deputy Mayor Lei
The Daily Dirt: Waiting for 485x reform? Mamdani admin says wait longer
485x is the tax abatement program that developers love to hate. The biggest sticking point for developers is the wage standard for construction: for projects over 99 units, developers need to pay a minimum construction wage to qualify for the abatement. The precise wage depends on where the project
NYC’s top deals: Chelsea school sells building for $19M
There were 136 transactions totaling $358 million filed in New York City records in the 24 hours before 4 p.m. on Friday, May 8, 2026. ? Commercial: The top commercial real estate transaction to hit records was in Chelsea, where the Corlears School sold its four-story, 19,800-square-foot property at
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