Zohran Mamdani by Dmitryshein - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=166970377
In a surprise outcome, New York Assembly member Zohran Mamdani defeated former New York governor Andrew Cuomo in the primary race for New York City's mayor, signaling a major shift in the city’s priorities.
The victory was more than just an electoral win, it was a statement. In a city where over half of all residents are rent-burdened and homelessness has reached levels not seen since the Great Depression, voters chose a candidate who promised a housing revolution.
The victory was more than just an electoral win, it was a statement. In a city where over half of all residents are rent-burdened and homelessness has reached levels not seen since the Great Depression, voters chose a candidate who promised a housing revolution.
In February 2025, Mamdani released Housing By and For New York, a sweeping $100 billion plan to tackle the city’s housing crisis through a publicly led building campaign. His vision: triple the production of permanently affordable, rent-stabilized, union-built housing and create 200,000 new units over the next decade. He also pledges to double investment in the New York City Housing Authority (NYCHA) and redirect city resources away from speculative development and toward long-term affordability.
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Under his plan, the city would raise $70 billion through new municipal bonds (on top of $30 billion already budgeted), fast-track all deeply affordable projects, and make use of city-owned land and buildings to subsidize new construction. Key agencies like the Department of Housing Preservation and Development (HPD), NYCHA, and the Department of City Planning would be fully staffed and funded, and the Office of Management and Budget would be directed to support (not stall!) public housing initiatives.
The Daily News believes that “Mamdani’s housing plan will not work.” Conservative think tank Manhattan Institute questioned, “How Bad Is Zohran Mamdani for New York? Let Us Count the Ways.” But progressive voices, including The Nation, praised the plan’s scale and urgency, noting that dozens of economists have backed Mamdani’s framework as both viable and necessary.
Primary results map (The New York Times) | https://www.nytimes.com/interactive/2025/06/24/us/elections/nyc-mayor-primary-results-precinct-map.html
The New York Times analyzed the election results and found Mamdani won with young voters, middle- and higher-income neighborhoods, and in areas that had higher Asian and Hispanic voters. Cuomo won in lower-income areas except for his solid hold on the Upper East Side and Upper West Sides as well as with Black residents.
The mayoral race broke down along familiar geographic and economic lines: affluent voters on the Upper East Side and Upper West Side stuck with Cuomo. But the rest of the city, particularly younger voters, renters, and outer-borough residents, turned out for Mamdani in large numbers, driven by the urgency of rising rents and a collapsing status quo.
Mamdani’s housing plan is bold and technically feasible but faces significant political and logistical hurdles. The city has the capacity to build large-scale public housing, and Mamdani’s vision to expand it is rooted in historical precedent. However, lengthy zoning processes, community opposition, and NYCHA’s existing $80 billion repair backlog pose real challenges. Politically, the plan requires major state-level changes, including universal rent control and repealing preemption laws that are unlikely under current leadership.
Powerful real estate interests would also fiercely resist. Economically, while the plan demands major investment, it proposes funding through taxes on luxury real estate and cutting developer subsidies. Publicly traded New York City real estate company stocks are not reacting well (e.g., corporate landlords like Empire State Realty Trust, SL Green Realty, and Vornado Realty Trust all fell the day after the primary).
In the end, the plan is not immediately realistic but it is not impossible. Despite national political fatigue and economic anxiety, New Yorkers want their city back and they just handed the keys to someone with a radically different map.
Whether Mamdani’s plan can survive the pushback from developers, bureaucrats, and Albany remains to be seen. But his victory shows that New York, at its core, still believes in the impossible and demands a city that works for “each and every New Yorker.”
Whether Mamdani’s plan can survive the pushback from developers, bureaucrats, and Albany remains to be seen. But his victory shows that New York, at its core, still believes in the impossible and demands a city that works for “each and every New Yorker.”
Forthcoming NYC projects
125 Chrystie Street, Lower East Side
Developed by The Horizon Group | Design by Fischer & Makooi
11 stories | 55 units
20% affordable
Completion estimated for 2028
Developed by The Horizon Group | Design by Fischer & Makooi
11 stories | 55 units
20% affordable
Completion estimated for 2028
Rendering of 125 Chrystie Street (The Horizon Group)
In June 2024, a permit was issued for a new building at 125 Chrystie Street, on the corner of Chrystie and Broome Streets. Permits call for community facility space, retail space on the first and second floors, and rental apartments on top. Eleven of the 55 units are expected to be affordable, and a rendering from The Horizon Group shows that all units are set to enjoy abundant natural light from oversized windows.
Details are not yet available on the building's residential amenities, but one perk will be its Downtown location. Sara D. Roosevelt Park is across the street, and the site is located in close proximity to The Bowery Ballroom and popular dining in Nolita and Chinatown alike. Transportation options include the Bowery J/Z and the Grand Street B/D trains.
Details are not yet available on the building's residential amenities, but one perk will be its Downtown location. Sara D. Roosevelt Park is across the street, and the site is located in close proximity to The Bowery Ballroom and popular dining in Nolita and Chinatown alike. Transportation options include the Bowery J/Z and the Grand Street B/D trains.
1655 First Avenue and 355 East 86th Street, Yorkville
Developed by Chess Builders LLC | Design by S. Wieder Architect
23 stories | 198 units
Completion estimated for 2027
Developed by Chess Builders LLC | Design by S. Wieder Architect
23 stories | 198 units
Completion estimated for 2027
Rendering of 1655 First Avenue and 355 East 86th Street (S. Wieder Architect)
In November 2024, permits were filed for a new project on the corner of First Avenue and East 86th Street on the Upper East Side. More recently, the first renderings were revealed for a pair of 23-story buildings. The buildings will span a total of 193,000 square feet and include 198 rental units on top of commercial space and a cellar level. The project will likely include affordable units, but this has not been confirmed as of this writing.
While amenities have not been announced, renderings by S. Wieder Architect show a landscaped rooftop terrace, not to mention private balconies in several units as well as setbacks that allow for larger private terraces. The site is two blocks from Carl Schurz Park and located in close proximity to 92Y and popular Second Avenue dining. The 86th Street Q train is one block away, and the East 90th Street ferry terminal is a short distance away.
While amenities have not been announced, renderings by S. Wieder Architect show a landscaped rooftop terrace, not to mention private balconies in several units as well as setbacks that allow for larger private terraces. The site is two blocks from Carl Schurz Park and located in close proximity to 92Y and popular Second Avenue dining. The 86th Street Q train is one block away, and the East 90th Street ferry terminal is a short distance away.
236 Gold Street, Downtown Brooklyn
Developed by 236 Gold LLC | Designer TBD
14 stories | 114 units
25% affordable
Completion estimated for 2028
Developed by 236 Gold LLC | Designer TBD
14 stories | 114 units
25% affordable
Completion estimated for 2028
Rendering of 236 Gold Street (NYC Planning)
Last week, the City Planning Council voted to approve a rezoning to allow for a new, 14-story mixed-use residential and commercial building at 236 Gold Street, a longtime parking lot in Downtown Brooklyn. The 114 new housing units on top of retail space are set to include 29 affordable units under the Mandatory Inclusionary Housing.
Amenities at 236 Gold Street are set to include a lobby, lounge, and bike room. The site is located in close proximity to Trinity Park, Commodore Barry Park, Wegmans, and many public transportation options.
Amenities at 236 Gold Street are set to include a lobby, lounge, and bike room. The site is located in close proximity to Trinity Park, Commodore Barry Park, Wegmans, and many public transportation options.
725 Saint Mark's Avenue, Crown Heights
Developed by Sunshine Plaza LLC | Design by Think!
7 stories | 40 units
Completion estimated for 2027
Developed by Sunshine Plaza LLC | Design by Think!
7 stories | 40 units
Completion estimated for 2027
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Rendering of 725 Saint Mark's Avenue (Think!)
Brooklyn has seen an influx of boutique condo development in recent years, and 725 Saint Mark's Avenue is the latest entrant. As the site is located outside the Crown Heights North Historic District and its extensions, construction can take place as of right; however, renderings by architect Think! show a modern yet respectful building not much taller than its nearest neighbors, featuring a gray brick facade with terracotta accents. Select units will have private balconies, and the oversized windows pictured promise abundant natural light.
The 40 units are set to include studio through two-bedrooms, a handful of duplex studios with lower-level recreation space among them. Residential amenities will include a fitness center with yoga/movement studio, a lounge, and a landscaped rooftop terrace. The site is located in close proximity to Brooklyn Botanic Garden, the Brooklyn Children's Museum, Nostrand Avenue dining, and the Nostrand Avenue 3/4 trains.
The 40 units are set to include studio through two-bedrooms, a handful of duplex studios with lower-level recreation space among them. Residential amenities will include a fitness center with yoga/movement studio, a lounge, and a landscaped rooftop terrace. The site is located in close proximity to Brooklyn Botanic Garden, the Brooklyn Children's Museum, Nostrand Avenue dining, and the Nostrand Avenue 3/4 trains.
11-37 44th Drive, Long Island City
Developed by White Family Limited Partnership | Design by Z Architecture
7 stories | 113 units
Completion estimated for 2027
Developed by White Family Limited Partnership | Design by Z Architecture
7 stories | 113 units
Completion estimated for 2027
Rendering of 11-37 44th Drive (Z Architecture)
In late 2024, permits were filed for a low-rise rental in the Hunters Point section of Queens. The apartments are set to start on top of commercial space, and renderings by Z Architecture show oversized windows throughout and private balconies in the majority of units. The building is topped with landscaped terraces.
The site was formerly a parking lot, and the new project will reportedly count an enclosed parking garage among the amenities. However, this may prove superfluous given its proximity to the Court Square transportation hub. It is also located near Gantry Plaza State Park, MoMA PS1, and popular area restaurants.
The site was formerly a parking lot, and the new project will reportedly count an enclosed parking garage among the amenities. However, this may prove superfluous given its proximity to the Court Square transportation hub. It is also located near Gantry Plaza State Park, MoMA PS1, and popular area restaurants.
35-10 12th Street, Astoria
Developed by Sunshine Plaza LLC | Design by S. Wieder Architect
8 stories | 165 units
Completion estimated for 2027
Developed by Sunshine Plaza LLC | Design by S. Wieder Architect
8 stories | 165 units
Completion estimated for 2027
Rendering of 35-10 12th Street (S. Wieder Architect)
In March 2025, permits were filed for a new building to rise on a vacant lot in Astoria. The eight-story building is set to include 20,659 square feet of commercial space (a supermarket is pictured in a rendering by S. Wieder Architect), 54 enclosed parking spaces, and rental apartments on top. A percentage of units are likely to be affordable, but a final total has not yet been confirmed.
The rendering also shows upper-level terraces, possibly for amenity use. However, the building is located in close proximity to green space at Rainey Park and Ravenswood Playground. It is also located near the Noguchi Museum, Astoria dining, and the 36th Avenue N/W trains.
The rendering also shows upper-level terraces, possibly for amenity use. However, the building is located in close proximity to green space at Rainey Park and Ravenswood Playground. It is also located near the Noguchi Museum, Astoria dining, and the 36th Avenue N/W trains.
The Perennial, Forest Hills
Developed by Foxy Management and Selfhelp Realty Group | Design by Newman Design
8 stories | 145 units
100% affordable
Completion estimated for 2027
Developed by Foxy Management and Selfhelp Realty Group | Design by Newman Design
8 stories | 145 units
100% affordable
Completion estimated for 2027
Rendering of The Perennial (Selfhelp Realty Group)
In the Forest Hills section of Queens, the old Parkway Hospital is being gut renovated and expanded into The Perennial, a new affordable housing development. The majority of the 145 units will be senior residences, though there will also be 22 family units and one unit for a live-in superintendent.
In addition to the housing units, the project will include on-site parking as well as a 34,000-square-foot community facility for Forest Hills Jewish Center with a synagogue, preschool, and community center on the cellar through second floors. It will be underpinned by geothermal infrastructure. The developers applied to enroll the project in the New York City Office of Environmental Remediation’s Voluntary Cleanup Program in February 2025, and the work can begin after that is completed.
In addition to the housing units, the project will include on-site parking as well as a 34,000-square-foot community facility for Forest Hills Jewish Center with a synagogue, preschool, and community center on the cellar through second floors. It will be underpinned by geothermal infrastructure. The developers applied to enroll the project in the New York City Office of Environmental Remediation’s Voluntary Cleanup Program in February 2025, and the work can begin after that is completed.
La Central, Mott Haven
Developed by BRP Companies and Hudson Companies | Design by FX Collaborative
25 stories | 420 units
100% affordable
Completion estimated for 2028
Developed by BRP Companies and Hudson Companies | Design by FX Collaborative
25 stories | 420 units
100% affordable
Completion estimated for 2028
Rendering of La Central Phase II (FXCollaborative)
Days before the primary election, Mayor Eric Adams was on hand for the groundbreaking of the second and final state of La Central, an affordable housing development in the South Bronx. This particular phase will bring 420 new affordable housing units for households earning 30 to 80 percent of the Area Median Income; this total will include 63 supportive housing units for formerly homeless New Yorkers. Modern amenities are set to include a rooftop terrace with a telescope remotely controlled by Bronx High School of Science; this phase will also include 13,000 square feet of community space, 1,500 square feet of retail space, and 7,000 square feet of new public gardens.
The groundbreaking comes nearly four years after the first two buildings in La Central opened. In addition to new affordable housing, this phase brought a new YMCA, studio space for broadcasting nonprofit BronxNet, and a rooftop farm.
When La Central is complete, it will bring a total of over 1,000 new affordable housing units to the area, as well as new retail space, community facility space, and public gardens. The entire project will be underpinned by sustainable building practices.
The groundbreaking comes nearly four years after the first two buildings in La Central opened. In addition to new affordable housing, this phase brought a new YMCA, studio space for broadcasting nonprofit BronxNet, and a rooftop farm.
When La Central is complete, it will bring a total of over 1,000 new affordable housing units to the area, as well as new retail space, community facility space, and public gardens. The entire project will be underpinned by sustainable building practices.
One Fordham Landing, University Heights
Developed by Dynamic Star | Design by Perkins Eastman
23 stories | 505 units
Completion TBD
Developed by Dynamic Star | Design by Perkins Eastman
23 stories | 505 units
Completion TBD
On the Harlem River waterfront, work is underway on One Fordham Landing, a new community facility with office space on the uppermost levels. The building will be constructed to WELL standards and feature efficient side-core layouts, panoramic water views, and Midtown skyline views from mid-rise and tower floors. In the multi-family component of the building, 153 of the 505 units will be affordable. Both office and multi-family tenants will have access to a 20,000-square-foot amenity space that includes a fitness center, an indoor pool, pickleball and basketball courts, a lounge with golf simulator, and an outdoor terrace.
One Fordham Landing is a component of the larger Fordham Landing development along the Hudson River. The project will include a new waterfront esplanade as well as a new entrance and pedestrian bridge to the North University Heights Metro North station. It will include on-site parking and is located in close proximity to subway and bus stops as well as the Metro North.
One Fordham Landing is a component of the larger Fordham Landing development along the Hudson River. The project will include a new waterfront esplanade as well as a new entrance and pedestrian bridge to the North University Heights Metro North station. It will include on-site parking and is located in close proximity to subway and bus stops as well as the Metro North.
5602-5604 Broadway, Kingsbridge
Developed by Riverdale Garage Corp. | Design by Firm
13 stories | 226 units
100% affordable
Completion TBD
Developed by Riverdale Garage Corp. | Design by Firm
13 stories | 226 units
100% affordable
Completion TBD
Rendering of 5602-5604 Broadway (Akerman LLP)
As of this writing, the Department of City Planning is reviewing a rezoning application that would allow new affordable housing units to take shape in the Kingsbridge section of the Bronx. 5602-5604 Broadway is currently zoned for light manufacturing and would have to change to residential and limited commercial to accommodate the project. Both Bronx Community Board 8 and Bronx Borough President Vanessa L. Gibson have come out in favor of the project, and a City Planning Commission public hearing took place last week.
If the rezoning is approved, the 226 planned units are set to include 101 two-bedroom, two-bath apartments and 12 three-bedroom, two-bath apartments in a move to offer more family housing. Environmentally friendly features will include a green roof irrigated by collected rainwater, a move that mitigates overloading of the building's sewer system. Amenities are set to include 113 bicycle parking spaces and 188 parking spaces for tenants. These will also include paid public parking spaces, and there will be electric vehicle chargers throughout.
If the rezoning is approved, the 226 planned units are set to include 101 two-bedroom, two-bath apartments and 12 three-bedroom, two-bath apartments in a move to offer more family housing. Environmentally friendly features will include a green roof irrigated by collected rainwater, a move that mitigates overloading of the building's sewer system. Amenities are set to include 113 bicycle parking spaces and 188 parking spaces for tenants. These will also include paid public parking spaces, and there will be electric vehicle chargers throughout.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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