A political earthquake has reshaped New York City's commercial real estate landscape with Assemblyman Zohran Mamdani's surprising mayoral primary victory, prompting the industry to recalibrate its strategies amid talks of rent freezes and tax hikes. This episode of Best & Final unpacks the immediate market reactions, significant refinancing deals like the 5 Times Square conversion, and the MTA's assertive use of eminent domain for subway and rail expansions, offering crucial insights for developers, operators, and investors navigating an increasingly ideological and unpredictable market.
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