Industry pledges to work with new mayor Eric Adams

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Two of the city’s biggest real estate organizations have hailed
the election of Eric Adams as Mayor of New York.

The Brooklyn Borough President beat out Republican
challenger, Curtis Sliwa, to become the city’s 110th mayor following Wednesday’s
vote.

A favored candidate of the real estate industry, Adams has
pledged to overhaul regulations that hinder development and to up-zone neighborhoods
to promote the development of more affordable units when he takes office in
January. He is also expected to work with building owners struggling to meet
the city’s strict timetable on carbon emission caps and address calls for commercial
rent control.

“We congratulate Eric Adams on his successful campaign and
share his goals of ensuring safe communities, revitalizing our economy and
building a more equitable City for all,” said REBNY president James Whelan.

“REBNY and its members are committed to working closely with
the Adams Administration and the next City Council on critical efforts to
create good jobs, produce much-needed housing and address climate change, among
other key issues that will continue to impact the City’s economic recovery and
its long-term future.”

Carlo A. Scissura, President and CEO of the New York
Building Congress also congratulated Mayor-elect Adams, along with the newly
elected Public Advocate Jumaane Williams, Comptroller-elect Brad Lander and the
incoming Borough Presidents and Council Members who won their elections .

“They will lead a New York City that finds itself at the
crossroads of history,” said Scissura. “The last year and a half has forced a
reckoning with public health, racial divisions and economic disparity. While
this has no doubt been a challenging time for the five boroughs, we are now at
a moment in which we can literally build a stronger, fairer future.

“The women and men of our industry are ready to work with
the incoming City leadership to design and construct the next generation of
schools, open spaces, hospitals and affordable housing. A new New York City is
on the horizon.”

Gov. Kathy Hochul has pledged “a whole new era of
cooperation” between the state in the city, after eight years in which the
former governor, Andrew Cuomo, was constantly at adds with Mayor Bill de
Blasio. “We will fight for you, not fight each other anymore,” she said.

Among the real estate players who backed Adams’ campaign
were Douglas Durst and Bill Rudin, developers Jed Walentas and Donald Capoccia.

Pierre Debbas, managing partner of Romer Debbas LLP, said
Adams, historically a moderate democrat, will need to work to shift a
progressive liberal narrative from taxing the rich to enticing them to stay

 “Alarming increases
in crime rates and a marked decrease in general cleanliness have been an
impetus for people leaving the City, citing conditions worse than the infamous
‘80s,” said Debbas. “Drawing from his years with the NYPD and addressing these
issues right out of the gate will increase confidence and make the City a
desirable place to live rather than just visit.”

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