The results of Tuesday’s elections in Virginia could have significant implications for data center development in the sector’s largest market. And for an industry facing heightened scrutiny, they may serve as a preview of what’s to come in elections across the U.S.
After months of threats from business leaders that Zohran Mamdani becoming mayor of New York City would spur an exodus, no flights have been booked and no bags have been packed.
Instead, most real estate executives woke up Wednesday with an air of resigned optimism, hoping the 34-year-old democratic socialist will work with them to fix the city’s housing crisis and fail to implement some of his other key promises.
And while some brokers said it was business as usual and no clients were spooked, many cautioned that Mamdani still has the capacity to scare away investment.
“He could be more like Fiorello La Guardia…
Economists and psychologists say that compensation may not provide as powerful an incentive as is often assumed.
The banking giant’s C.E.O. said he wanted to keep lines of communication open with the mayor-elect of New York.
For some in the real estate industry, their worst fears became a reality Tuesday night. A Democratic socialist is heading to Gracie Mansion. In his victory speech, Zohran Mamdani said he would go after bad landlords, describing them as proteges of President Donald Trump. He doubled down on his pledge to freeze rents for stabilized tenants, and alluded to his plans to raise taxes for the state’s wealthiest. “We will hold bad landlords to account because the Donald Trumps of our city have grown far too comfortable taking advantage of their tenants,” he said Tuesday night to a crowd at […]
This article originally appeared on The Real Deal. Click here to read the full story.
Steven Roth is on a roll. Fintech company Robinhood is the latest tenant to land at Vornado’s Penn 2. The firm inked a 125,000-square-foot, 10-year sublease on the 25th and 26th floors of the recently redeveloped Penn District tower. Robinhood is leasing the space from Madison Square Garden, a source said. The lease was first reported in CBRE’s October Manhattan office report. It’s the third deal to surface this week at the 31-story Penn District tower, formerly known as 2 Penn Plaza, which recently underwent a $750 million renovation aimed at attracting blue-chip tenants. The redevelopment is part of Vornado’s […]
This article originally appeared on The Real Deal. Click here to read the full story.
A New York Post cover about “The Red Apple” went viral, and a “Fox & Friends” host told viewers, “We don’t want to turn into Caracas.”
The Supreme Court justices grappled with the legality of President Trump’s tariffs in an oral argument that stretched for almost three hours.
New York City’s mayoral race is officially over — and despite dire predictions from the industry, some residential players are chiming in with a clear consensus: don’t believe the hype. Democratic nominee Zohran Mamdani won the city’s top post on Tuesday, besting Independent candidate, former Gov. Andrew Cuomo, and Republican Curtis Sliwa. The 34-year-old Assemblymember from Queens ran on, among other policies, the promise of freezing rents for stabilized housing and raising taxes on the wealthiest New Yorkers. Leading up to the election, some real estate players warned that a Mamdani victory could spark an outflow of high-earning residents over […]
This article originally appeared on The Real Deal. Click here to read the full story.