The New York Observer held a recent event to mull over the future of real estate in the city. Among those representing were the heads of Tishman Speyer, Rudin Management, the LeFrak Organization, and CB Richard Ellis. Together, these companies control billions of dollars of commercial and residential space.
While the state of the economy loomed large, Related chairman Stephen Ross made sure to mentioned the Working Families Party’s recent electoral successes as a cause for concern.
Why? Real estate titans in New York City are used to running the show without interference from pesky tenants and the communities impacted by big development projects. The candidates that rode to victory in this year’s primaries have another vision: development that puts working families and neighborhoods first. Projects that build housing New Yorkers can actually afford, and that fit with the needs of New York’s neighborhoods.
