Mamdani (obviously) is the wild card here. He could throw so many taxes and fees on commercial real estate that even cheap buildings will become expensive.
And like with every other communist, Mamdani will give no thought to the long-term consequences of his actions.
$2.3 trillion GDP in NYC.
He’s all for rent control.
Remember the 70s? NYC and rent control. The owners of the buildings abandoned them. I remember seeing a block of 8 story or so apartment buildings all empty and wondering what the heck was going on ? Empty buildings in NY?