Deputy Mayor Adolfo Carrión plans to get back into real estate.
Carrión, who has served as deputy mayor of housing, economic development and workforce since March, says he will revive his development and consulting firm, Metro Futures, after he leaves office.
“It’s dormant right now. As of January 2, I’m going to say it will no longer be dormant,” he said in an interview on Wednesday.
“I will be involved in investing in New York City, building affordable housing with clients and friends of mine and trying to ensure that this continues to be the best city in the world,” he said.
(His work with the city, of course, will be limited for a while; deputy mayors are barred from communicating with city agencies for two years after leaving office.)
Carrión has worked for city and federal housing agencies, as well as private real estate firms. Before becoming deputy mayor, he was head of the Department of Housing Preservation and Development. He launched Metro Futures in 2012, after serving as Bronx borough president and then working for the Obama administration in the Office of Urban Affairs and the Department of Housing and Urban Development. He’s also worked for the Stagg Group and CSA Group.
As Carrión is winding down his time at City Hall, Mamdani is gradually filling out his team. I’ve heard rumblings of a few people who are in the running for Carrión’s role, but we’re still waiting for an announcement.
The final days of the Adams administration may prove consequential for Mamdani (in more ways than new appointees to the Rent Guidelines Board, which I heard is coming before the end of the week).
On Thursday, the City Council is expected to vote on three bills that set new rules for the kinds of housing the city finances, setting minimum thresholds for the percentage of housing units dedicated to very-low and extremely-low income tenants, as well as for the amount of units with two- and three-bedrooms and those designated as homeownership units. Another measure would set minimum construction wages for some city-funded housing projects.
Mamdani hasn’t taken a position on the bills, but housing groups have warned that the measures could hurt the new mayor’s housing goals and dramatically raise HPD’s budget needs.
Carrión said he is concerned about the bills and said, if approved, they would make it “nearly impossible to deliver on the promise of more affordable housing.”
“You can’t have it both ways,” he said. “You can’t control every action of an industry and then expect that industry to deliver success for you and your city.”
He added that he is “here to help” the next administration.
“Mayor Mamdani’s success is New York City’s success,” he said.
What we’re thinking about: Who do you think will be the next deputy mayor of housing? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: As of Wednesday evening, the Community Opportunity to Purchase Act, or COPA, was not on the Committee on Housing and Buildings’ agenda. A source familiar with discussions told me that the bill will likely come up for a vote Thursday, but the agenda had not been finalized.
Elsewhere in New York…
— Mayor-elect Zohran Mamdani says he believes he will be the city’s 112th mayor, instead of 111th, Gothamist reports. The city’s Department of Records recently confirmed an historian’s findings (and Gothamist’s reporting) that the official count of mayors failed to account for Mayor Matthias Nicolls’ nonconsecutive second term.
— Ugh, it’s not in your head: Everyone around you is sick. New York City and surrounding areas have seen some of the highest levels of flu-like illnesses in the U.S. since Dec. 6, the New York Times reports.
— Mamdani on Wednesday tapped Jahmila Edwards, former associate director for District Council 37, as his director of intergovernmental affairs. He also announced Catherine Almonte Da Costa, head of culture at communications firm Orchestra, will serve as director of appointments.
Closing Time
Residential: The top residential deal recorded Wednesday was $12.3 million for a co-op unit at 888 Park Avenue. The Upper East Side co-op is 3,800 square feet and sold for more than double its last sale in 2009 of $5.4 million. The Modlin Group has the listing.
Commercial: The top commercial deal recorded was $32.7 million for 90 Bedford Street. The West Village rental is six stories, 15,600-square-feet and has 22 units.
New to the Market: The highest price for a residential property hitting the market was $7.6 million for a condominium unit at 20 West 53rd Street. The Midtown Central condo at the Baccarat Hotel & Residences is 2,500 square feet. Sotheby’s International Realty has the listing.
Breaking Ground: The largest new building permit filed was for a proposed 71,555-square-foot, 13-story mixed-use residential and commercial building at 80 West Broadway in Tribeca. Richard Cook of Cookfox Architects is the applicant of record.
— Joseph Jungermann
