From the August issue: When political newcomer Doug Biviano wanted to increase his visibility
as a City Council candidate, he looked no further than one of the most
prime retail strips in his Brooklyn Heights district: Montague Street. While in more flush times a new political candidate’s war chest
might not have had enough cash to pay for such a premier, high-traffic
location, Biviano took advantage of the strip’s nearly 10 vacant
storefronts and the area’s dropping retail rents. And he is not alone.
With the New York City primary elections next month, and the
general elections this November, candidates for mayor, City Council and
other citywide offices all need space for their campaign headquarters. And, in this market, a new real estate trend is emerging among
them: Even candidates without the deep pockets of Mayor Bloomberg, a
self-made billionaire, can secure crucial storefront space. [more]

Despite recent legal decisions supporting Forest City Ratner, developer of the Atlantic Yards project, political support for the Brooklyn Development has gradually declined since it was proposed in 2003. Today none of the dozen City Council candidates in the two districts closest to the project site support it, according to opposition group Develop Don’t Destroy Brooklyn. Borough President Marty Markowitz is the only local official still strongly in support of the project. The lack of political backing could hurt Forest City Ratner if it tries to get approvals for a new arena-only plan for the project. [more]

Mayor Michael Bloomberg and Sen. Charles Schumer traded barbs yesterday over plans to develop Manhattan’s far West Side. Schumer said that building Moynihan Station and developing the area around Penn Station should be a higher priority than turning the Hudson Yards area into a business district. “I appreciate all the senator’s views on Moynihan Station. His part of the job is to bring us the money,” Bloomberg said. The mayor rejected Schumer’s suggestion that the Port Authority should build Moynihan Station, saying that the authority has struggled to rebuild the World Trade Center. [Post] and [Crain's]
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Bank seizures of foreclosed homes are lowering property values and the city’s tax base, State Sen. Jeff Klein said yesterday while in front of six such homes on West 159th Street in Washington Heights. More than 2 million city homes have been devalued, he said. Klein called for the state Assembly to pass legislation that would lead to fines for banks that don’t fix up vacant properties they have foreclosed on.