Sherwin Belkin Quoted in The Real Deal on Mayor Mamdani’s Housing Plan
BBG Founding Partner Sherwin Belkin was quoted in Erik Engquist’s article in The Real Deal regarding Mayor Zohran Mamdani’s newly released housing plan and its potential impact on New York City property owners.
The article examines the administration’s proposed approach to distressed housing, including plans to investigate portfolios with longstanding violations and facilitate transfers of certain properties to nonprofit and tenant-backed ownership groups. In discussing the proposal, the article summarized Sherwin’s concern that increased violations and penalties could be used to classify buildings as distressed and ultimately transfer ownership away from private landlords.
Discussing the broader implications for the industry, Sherwin stated: “This is a serious threat to the real estate industry. Serious minds need to derive solutions before too much damage is done.”
The piece explores how the administration’s broader housing agenda could affect developers, landlords, nonprofit housing operators, and rent-stabilized housing throughout New York City.