CRE execs nervous about de Blasio administration: survey

New York /
Dec.December 18, 2013 08:36 AM

The city’s commercial real estate players are feeling jittery about the new administration, with most saying that Mayor-elect Bill de Blasio will be bad for business, according to a new survey by accounting firm Marks Paneth & Shron.

Only seven percent of New York City commercial real estate executives said they were “very confident” in de Blasio’s support of the commercial real estate industry, according to the survey, released Tuesday. Only 28 percent responded that they were “somewhat confident” in de Blasio, while 21 percent said they were “not at all confident” and 35 percent said they are “not too confident.”

In contrast, 76 percent of executives surveyed last year expressed confidence in Mayor Michael Bloomberg’s support of the industry, according to a report from Law360.

“The city’s commercial property industry, based on the survey results, is clearly bracing for a mayoral administration far less friendly to real estate interests than the current one,” William Jennings, who leads the real estate group at Marks Paneth & Shron, said in a statement to Law360.

Many major developers have said, however, that de Blasio’s track record in City Council suggests that he is more pro-development than he seems at first blush, as The Real Deal reported. [Law360] —  Hiten Samtani


Related Articles

arrow_forward_ios
Before the pandemic, national tenants paid 94 percent of rent. (Getty)

Retail rent collections rebound to 90%

Retail rent collections rebound to 90%
Cindat Capital Management CEO Greg Peng and Hersha Hospitality Trust CEO Jay Shah with 51 Nassau Street (Google Maps)

7 Manhattan hotels head to auction block

7 Manhattan hotels head to auction block
As companies leave Silicon Valley, Austin, Texas is becoming a top destination. (Getty)

Silicon Valley exodus: Where’d everyone go?

Silicon Valley exodus: Where’d everyone go?
Sen. Charles Schumers aid President-elect Joe Biden agreed to assist NYC. (Getty)

NYC loses $2.5B in property taxes, gets $1B from FEMA

NYC loses $2.5B in property taxes, gets $1B from FEMA
TF Cornerstone President Frederick Elghanayan with 2-10 54th Avenue and 55-01 Second Street in Long Island City (Google Maps)

The 10 biggest new project filings in NYC

The 10 biggest new project filings in NYC
Gov. Andrew Cuomo announced that a major development surrounding Penn Station. (Getty)

Cuomo adds housing to $51B Midtown West project

Cuomo adds housing to $51B Midtown West project
Alex Sapir (Getty)

Former Sapir employee accuses company of retaliation

Former Sapir employee accuses company of retaliation
Mayor Bill de Blasio and the carousel at Central Park (Getty)

Three Trump Org contracts de Blasio canceled were about to expire anyway

Three Trump Org contracts de Blasio canceled were about to expire anyway
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...