Articles of the week ending October 24th
Zohran Mamdani Promises to Make NYC More Affordable. What to Know About His Planned Policies – WSJ
By Joseph De Avila, The Wall Street Journal
NYC mayoral candidate Zohran Mamdani is campaigning on ambitious affordability reforms like free child care, fare free buses, a rent freeze, and a $30 minimum wage but faces major fiscal and legal hurdles since he lacks authority to raise the state taxes needed to fund them.
Vanbarton Group Refinances 980 Sixth Avenue
By Rich Bockmann, The Real Deal
Vanbarton Group secured a $280 million refinancing loan from Invesco for its 980 Sixth Avenue tower where it converted former WeWork office space into apartments continuing its push as one of New York City’s leading office to residential developers with over 2,000 units in progress.
News _ New York industrial construction on pace for lowest total since 2011
By Victor Rodriguez, CoStar Analytics
New York’s industrial construction has sharply slowed in 2025 with only 1.8 million square feet started a 77 percent drop from last year due to high financing costs weaker tenant demand and economic uncertainty.
Manhattan Investment Sales Nearly Triple As Big-Ticket Office Deals Return
By Ciara Long, Bisnow
Manhattan’s commercial real estate market surged in the third quarter of 2025 with $4.9 billion in property sales driven by major office and development deals signaling renewed confidence and institutional investment in New York City.
Industrious Takes All the Office Space at RFR’s 190 Bowery – Commercial Observer
By Larry Getlen, COMMERCIAL OBSERVER
Industrious leased all 33,231 square feet of office space at RFR’s historic 190 Bowery in Nolita marking its first location in the area and expanding its coworking presence in Manhattan.
AI Boom Impacts Real Estate
By Mike Romano, The Real Deal
AI-driven demand for electricity is transforming land with power access into one of real estate’s most valuable assets as developers, investors, and tech firms compete to secure energy-connected sites across the U.S.
_Amtrak to seek Penn Station redesign proposals this month with 2027 deadline _ Crain’s New York Business
By Caroline Spivack, Crain’s New York Business
Amtrak will solicit redevelopment proposals for Penn Station by the end of October aiming to select a master plan and begin construction by 2027 under President Trump’s directive.