The Real Deal New York

City isn’t owned by “big landlords and developers,” de Blasio says

Mayor was sworn in for second term
January 02, 2018 12:30PM

Mayor Bill de Blasio and NYC homes (Credit: Getty Images)

The city doesn’t belong to hotshot landlords and developers, said Mayor Bill de Blasio after being sworn in for his second term as New York City’s mayor.

“This is your city,” he said. “The true owners of this beloved place are not the big landlords and developers, not the titans of Wall Street and the one percent. The deepest, truest stakeholders of this town are the people who do the work… but too often have not reaped the rewards.”

In the months leading up to November’s election, de Blasio publicly distanced himself from the real estate industry. The most extreme example, perhaps, was his comments to New York Magazine in September, in which he advocated deflating private property rights. One real estate executive said of the comments: “He didn’t stop at Bernie Sanders, he went straight to Chairman Mao.”
(Sanders attended Monday’s ceremony.)

In October, the mayor announced that his affordable housing program was ahead of schedule and pledged to preserve or create another 100,000 units by 2026. The next month, the Department of Housing Preservation and Development unveiled “Housing 2.0,” a series of proposals aimed at increasing the city’s affordable housing stock. One proposal would increase taxes on vacant sites zoned for residential construction.

Comptroller Scott Stringer and Public Advocate Letitia James were also sworn in on New Year’s Day, Curbed reported. James touted her annual Landlord Watchlist as well as recently approved legislation that bans employers from asking about salary history. She also called for making preferential rent permanent, rather than something a landlord can alter. [Curbed] —Kathryn Brenzel