Trump-proof NYC with… special permits?
He is a developer, after all.
In an effort to dramatically reduce the federal government’s office footprint, President Donald Trump ordered the General Services Administration to sell off hundreds of government buildings.
Former Comptroller and mayoral candidate Scott Stringer wants to ensure that New York City has a say over the fate of these properties. Stringer on Wednesday pitched the “Safeguard Historic Infrastructure through Effective Land-use Defenses,” or SHIELD, text amendment. Under the proposal, if the federal government wants to convert or sell a federally–owned building for private use, it must get a special permit.
“As mayor, I will fight to protect our civic infrastructure, using all the tools at my disposal to protect it from Trump selling it to the highest bidder,” Stringer said in a statement.
I spoke with Paul Selver, a land use attorney with Kramer Levin, about the proposal. He commended Stringer for proposing something to combat the actions of the Trump administration, but questioned the legality of using zoning to regulate property ownership, rather than land use, especially since the city would be trying to restrict federal ownership.
He also expressed doubt that a special permit requirement would prevent the federal government from clearing out the building. That could leave the building in “land use purgatory,” sitting vacant as would-be buyers are reluctant to go through the city’s Uniform Land Use Review Procedure.
The special permit would require developers converting federal buildings to show that public services that were once offered at the property have a new home, the new use “fits the character of the surrounding neighborhood” and “conforms with environmental and planning standards.”
Someone with Trump’s bonafides could find such a proposal especially annoying: Special permits add cost and time to projects, and developers have historically opposed efforts to require them on projects (including new hotels, and most recently, last-mile facilities).
What we’re thinking about: Will the Affordable Housing Credit Improvement Act gain enough support to pass this year? Will it be included in the “big beautiful bill”? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: As you may have guessed, I’m moderately obsessed with the granite eagle that used to adorn the original Penn Station, now in the plaza outside Penn 1. Today I learned it weighs 7,500 pounds.
Elsewhere in New York…
— Rep. Elise Stefanik is considering a run for governor in New York, the City and NOTUS reports. Trump’s allies are encouraging Stefanik to challenge Gov. Kathy Hochul next year.
— Assembly member and mayoral candidate Zohran Mamdani wants to increase the income tax rate for those earning more than $1 million by 2 percent, the New York Daily News reports. The increase, which would require state action, would help fund Mamdani’s policy priorities if elected mayor, including free bus service. Mamdani has also pitched raising the corporate tax rate from 7.5 percent to 11.5 percent.
— The Federal Housing Financing Agency sent a criminal referral letter to the Department of Justice, claiming state Attorney General Letitia James “appeared to have falsified records” related to properties in Virginia and New York, the New York Times reports. At issue is notarized paperwork signed by James saying her home in Virginia would be a primary residence when that was not the case. In a separate loan application, she indicated she would not use the home as a primary residence. The letter alleges that James also misrepresented how many units are in a Brooklyn building she owns. (James indicated four units, when there are in fact five.) A spokesperson for James said she is “focused every single day on protecting New Yorkers, especially as this administration weaponizes the federal government against the rule of law and the Constitution.”
Closing Time
Residential: The priciest residential sale Wednesday was $19 million for a condominium unit at 111 West 57th Street. The Midtown condo is 3,900 square feet and was listed by Sotheby’s International Realty.
Commercial: The most expensive commercial closing of the day was $100.3 million for 675 Third Avenue. The 340,000-square-foot office space is 32 stories. David Werner bought the property from the Durst Organization with plans for a potential office-to-residential conversion, per reports.
New to the Market: The highest price for a residential property hitting the market was $25 million at 157 West 57th Street. The Midtown Central condo unit at the One57 building is 5,500 square feet. Douglas Elliman has the listing.
Breaking Ground: The largest new building application filed was for a 20,104-square-foot, six-story, mixed-use building with a mezzanine at 6697 Broadway in the Bronx. Vasilios Georgopoulos of P. Georgopoulos Architect is the applicant on file.
— Joseph Jungermann
