Zohran Mamdani won the mayoral race for New York City on big campaign promises - freezing rents, helping small businesses, and free buses - all of which are to be financed by increasing taxes on the most profitable corporations and the ultra-wealthy one percent of New Yorkers. In his most recent visit to Washington, he made a huge proposal: build over 12,000 affordable housing units over the Sunnyside Rail Yard in Queens. Background New York City is one of the most housing-constrained...

The Chrysler Building, once the tallest building in the world and a defining symbol of New York City’s skyline, is again searching for new ownership after developers defaulted on rising ground lease payments. As potential buyers, including former owner Tishman Speyer, evaluate the property, the building’s uncertain future highlights the growing risks associated with land-lease structures and shifting demand in the post-pandemic office market. Background To understand how the landmarked Art...