Jeff Blau & Eric Adams made a back room deal where NYC pays Related Company $2 billion to build luxury units in Hudson Yards.
Normally the city OWNS the land, not this one. The land is given to Related Company.
THIS DEAL MAKES THE RENT FREEZE HARDER.
$2 billion to Related shifts ~$130 million a year onto NYC’s multifamily housing stock.
That’s an extra $1,700-$1,800/year for a typical rent-stabilized building - costs landlords pass on to tenants.
MAYOR MAMDANI CAN
KILL THIS DEAL.
The Hudson Yards Phase 2 subsidy still requires the Mayor’s final sign-off.
Zohran didn’t negotiate this deal. He wasn’t even in office when it was cut.
But we can pressure him to stop it.
Everyone needs to educate themselves on “Buy, Borrow, Die”
I receive 1 million shares at $5 each. Those shares grow to $50. I never sell the shares, I just call my brokerage to give me some $$$. I never pay back the loan, when I die the stock is given to my children, they’re now worth $50 a share. I pay ZERO taxes on the increase from $5 to $50, this is called “Step Up Basis”.
The ultra wealthy do not have income, they don’t have wages, they have wealth.
