Mayor Bill de Blasio’s real estate to-do list
November 12, 2013

Bill De Blasio

What should Bill de Blasio’s real estate/land use priorities be?

We asked industry leaders to give us their two cents on issues facing the mayor-elect, whom many regard as hostile to their interests. Here are their condensed responses.

Michael Colacino, president, Studley:
While increasing our uniquely high taxes on users of space directly would be politically difficult, I’d be just as concerned about taxing them indirectly through increases in property taxes on commercial space.

The cost of such a tax on an owner is passed through to tenants in most leases. Not everyone understands this, so in the past, raising these rates has been a popular way to raise revenues. I urge him to consider its impact, particularly on start-ups and tech firms that are the future of our economy.

Mayor Bill de Blasio’s real estate to-do list

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