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**NYC CRE Leaders: Getting to Affordability is Key — But the Path Remains Unclear**
At the Real Estate Board of New York’s (REBNY) 130th Annual Banquet, commercial real estate leaders gathered to discuss the future of development, affordability, and policy in New York City under newly elected Mayor Zohran Mamdani.
“The Mayor came into office with a message of affordability, and it’s the right message. [On] how we get there, we’re going to disagree,” said Hal Fetner, Chairman of Fetner Properties, highlighting a key tension point between city leadership and the real estate industry.
Gary Rosenberg, President of Rosenberg & Estis, pointed to taxation as a significant hurdle in addressing the affordability crisis. Meanwhile, Peter Riguardi, Chairman and President of JLL’s New York region, expressed optimism, noting the importance of the Mayor getting up to speed quickly in order to navigate the city’s complex regulatory and economic landscape effectively.
Connect CRE spoke with several influential executives at the event, capturing a wide range of perspectives. Among those sharing their insights were:
– Kelly Mack, President, Corcoran Sunshine Marketing Group
– Jay Neveloff, Partner, Kramer Levin
– Jason Haber, Agent at Compass and Co-founder of the American Real Estate Association
– Alexander Durst, Chief Development Officer, The Durst Organization
– Bruce Blakeman, Nassau County Executive
– Sam Chandan, Founding Director, NYU Stern Chao-Hon Chen Institute for Global Real Estate Finance
These stakeholders offered thoughtful commentary on what it will take to move the city toward greater housing affordability—though they acknowledged the path forward is far from straightforward.
While the shared goal remains clear—making New York City more livable and accessible—the strategies for reaching it are still under debate.
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