The War for New York: What the Cuomo-De Blasio Feud Means for Real Estate

May 16, 2018 – Media Mention
Commercial Observer

Mitch Korbey was quoted in the Commercial Observer, discussing how the conflict between Governor Andrew Cuomo and Mayor Bill de Blasio has impacted New York City’s real estate policy. Korbey noted that the 421-a tax exemption program is a prime example of the issues impacting the real estate industry during Cuomo’s tenure, saying that the expiration of the old 421-a program in 2016 resulted in a lack of clarity about the future. Korbey said, “Real estate interests need predictability. Developers want to know what’s expected of them before they invest, before they move forward with a rezoning or a project. That uncertainty can give investors pause.”