Nearly two weeks after the debate, even some real estate folks are weighing in on whether President Biden should stay in the race.
Last week, Los Angeles-based developer Rick Caruso took to social media site X to say that “stepping aside is the right and honorable thing for President Biden to do.”
He told the Wall Street Journal that though he held a multi-million dollar fundraiser for Biden in December, he is pausing his efforts.
As an increasing number of Democratic officials call on the president to step aside ahead of the August convention, I’ve been reaching out to Democrats in the industry, including those who have previously donated to Biden’s campaign, to see how they feel about the president’s prospects.
Developer Jonathan Rose told me that while he thinks Biden has been an “extraordinary president,” he has also believed since the start of the president’s campaign that “we now need to bring forth the next generation of democratic leaders.” As a result, he has shied away from donating to Biden’s campaign and the Democratic National Committee.
“I very much hope that President Biden decides to withdraw from his presidential candidacy, and calls for an open convention,” he said in an email. “The American people would then benefit from an incredibly robust period of exposure to an amazing next generation of democratic leaders.”
Developer Jeff Gural said he loves Biden, who appointed him to serve on the Public Buildings Reform Board, and believes he’s done a great job, but that “he needs to leave on a high note and the risk of electing Trump is just too scary.”
“Obviously, Biden’s debate performance was very disappointing, and I think he has to reassess whether or not he feels he can serve for another four years,” he said. “We are both the same age, and I know that I’m slowing down, and you can’t beat Father Time.”
If you’d like to share your thoughts, please reach out!
What we’re thinking about: Hundreds of people signed up for the City of Yes for Housing Opportunity hearing on Wednesday. If you attended or listened in remotely, what testimony did you find to be most compelling? What did you think was bunk? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: The median age for appraisers is 60 years old, according to the National Association of Realtors. Bisnow reports that the demographics of the industry could lead to a major shortage in the not too distant future.
Elsewhere in New York…
— Lieutenant Gov. Antonio Delgado on Wednesday called on President Biden to step aside, even though his boss has publicly stood by the president, Politico New York reports. “While Lieutenant Governor Delgado has the right to voice his opinion, Governor Hochul believes Democrats must come together, move forward as a united party, and focus on defeating Donald Trump in November,” Jen Goodman, a spokesperson for Hochul, told the news site. “Every day we spend worrying is time away from working toward that goal.”
— NYC may see more fireflies than usual this summer, Gothamist reports. That’s because of the wet conditions of last summer, which are hospitable to firefly larvae. The state is home to roughly 40 different species of luminescent beetle.
— Starting next year, small bottles of shampoo, body wash and the like will be banned from certain hotels in New York, the Times Union reports. The bottles of small “hospitality personal care products,” will be barred from hotels with 50 rooms or more beginning Jan. 1, 2025. Smaller hotels will face the ban the following year.
Closing Time
Residential: The priciest residential sale Wednesday was $15 million for a 4,613-square-foot condominium at 520 Park Avenue in Lenox Hill. Adam Modlin of The Modlin Group had the listing.
Commercial: The largest commercial sale of the day was $20 million for a 6,000-square-foot walk-up apartment building at 109 Third Avenue in Boerum Hill.
New to the Market: The highest price for a residential property hitting the market was $37.8 million for a 6,600-square-foot townhouse at 178 East 75th Street in Lenox Hill. Christie’s International Real Estate has the listing. Breaking Ground: The largest new building application filed was for a 127,900-square-foot mixed use building. The project will have 20-stories and 75 class-A units. Wilson Chao of Studio C Architects filed the permits. — Matthew Elo reports