The Daily Dirt: Brad Lander’s bid for mayor

Brad Lander is running for mayor. What’s his history with real estate?

The industry has clashed with Lander over the years. When he was a City Council member, he promoted measures that boosted nonprofit developers, and as comptroller, has called for an overhaul of affordable housing subsidies to ensure that half of city dollars go toward social housing.

These policies have elicited a common refrain over the years in my conversations with for-profit developers, about lack of social housing’ capacity and the myth of nonprofit involvement automatically meaning living conditions are better for tenants. One real estate attorney called the prospect of Lander becoming mayor a “disaster” for multifamily.

Lander comes from a nonprofit background, having run the Fifth Avenue Committee and the Pratt Center for Community Development. These gigs have won him some points with affordable housing developers. Kirk Goodrich, president of Monadnock Development, told me that “in the NYC affordable housing ecosystem, people see him as one of their own.” (Monadnock is active in Gowanus, where development opportunities blossomed thanks to Lander.)

Lander was key to getting the Gowanus rezoning across the finish line, a feat that took a decade but is expected to add more than 8,500 housing units in the Brooklyn neighborhood. 

Five years before that, his demands for more affordable housing at the Long Island College Hospital site led to developer Fortis Property Group scrapping its rezoning effort and building market-rate. That saga is still playing out.

It’s too early to tell how Mayor Eric Adams’ challengers will differentiate themselves as progressives. In the meantime, keep an eye out for more coverage on Lander’s platform and real estate track record.

What we’re thinking about: What do you think of the mayoral contenders so far? Send a note to kathryn@therealdeal.com.

A thing we’ve learned: Casey, Illinois, is home to a dozen of the world’s largest attractions, including the world’s largest teeter-totter. I tried to persuade my parents to see the world’s largest catsup bottle while they were on a recent road trip, but, sadly, they did not think it was worth stopping.

Elsewhere in New York…

— It’s official: Mayor Eric Adams has nominated former Rudy Giulani aide Randy Mastro to serve as the city’s new corporation counsel, Politico New York reports. The mayor’s choice has faced backlash from the City Council, setting the stage for dramatic confirmation hearings.

— Must be nice to find tens of millions of dollars just lying around. Gov. Kathy Hochul announced Tuesday that $54 million in “unallocated capital funding” set aside by the Cuomo administration will go toward continuing some work on the Second Avenue Subway extension, Gothamist reports. The work, which will cost billions, was halted when Hochul indefinitely paused congestion pricing.

— The world’s largest rubber duck will be on display in August at Playland amusement park in Rye, New York, according to Pix11.

CLOSING TIME

Residential: The priciest residential sale Tuesday was $9.8 million for a 2,430-square-foot condominium at 555 West 22nd Street in Chelsea. Shaun Osher of Core NYC had the listing.

Commercial: The largest commercial sale of the day was $51.9 million for three apartment buildings at 11-12 and 11-28 30th Drive and 11-37 31st Avenue in Long Island City. The properties combine for 557 residential units and 375,146 square feet. Cottonwood Residential sold them to an entity with an address tied to Cape Advisors.

New to the Market: The highest price for a residential property hitting the market was $32.5 million for a 5,561-square-foot condominium at 109 East 79th Street on the Upper West Side. The Hudson Advisory Team with Compass has the listing. — Matthew Elo