The Democratic nominee's meeting with the Partnership for New York City elicited mixed reactions among members, especially within the real estate sector. While other sectors expressed surprise, real estate professionals felt more directly affected by the mayor's decisions. CEO Kathy Wylde noted that while concerns about the corporate tax rate might not influence local decisions, multifamily owners were encouraged by the mayor's recognition of the need for property tax reform and a more comprehensive approach to the housing crisis. Mayor Eric Adams framed the race as a broader movement, resonating with real estate stakeholders who supported his campaign significantly over his competitor.
Reactions from the meeting between the Democratic nominee and members of the Partnership for New York City ranged from pleasantly surprised to very cynical, particularly among real estate members.
The mayor's acknowledgment that the city's property tax system needs an overhaul and the belief that freezing rents for stabilized apartments won't solve the city's housing crisis were welcomed by some multifamily owners.
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