As the de Blasio administration comes to a close, and with Eric
Adams nominated as the Democratic mayoral nominee, the New York
City real estate industry is preparing for the impact of the
impending transition. As we inevitably look back at the trials of
the current regime, it seems the entire industry is anxious for
Adams' ascension.
Considering the often divisive discourse at the City Council,
it's laudable that de Blasio was able to see several critical
zoning initiatives to completion, such as the Mandatory
Inclusionary Housing program and neighborhood rezonings such as
East Midtown and Inwood—and now (we certainly hope) Gowanus
and SoHo/NoHo.
Indeed, in the real estate realm, New York City (which, lest we
forget, is twice the size of Los Angeles—and Brooklyn alone
now matches Chicago's population) does not have a strong
mayoral form of government: The City Council is all-powerful and,
by a simple majority vote, can veto virtually anything the
