RESOLVING THE LEDGER
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See the full story · 1 sourcesOrganizations that advocate on behalf of property owners called out New York City’s democratic socialist Mayor Zohran Mamdani in blistering statements to Fox News Digital.
Mamdani campaigned on freezing rents for New Yorkers and appears to have delivered on his crackdown on landlords, upsetting local property owners. He recently released a "Rental Ripoff Report," which makes the case that residents in the nation's largest city are paying too much rent while not receiving enough in return and offers 23 proposals to address the issue.
His administration also sparked controversy by publishing a searchable database identifying affluent property owners who could be subject to the city's proposed pied-à-terre tax, a move critics say could expose them to harassment and public safety risks.
The database, released by the city's Department of Finance, allows users to search properties and view the names and addresses of owners whose non-primary residences could be subject to the proposed tax. A spokesperson for the department said publication of the property roll was required by state law.
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The Real Estate Board of New York (REBNY) President James Whelan told Fox News Digital that Mamdani was addressing the problem in a counterproductive way.
"The Mayor's report focuses on symptoms, not causes," he said. "New Yorkers are paying record-high rents because there is not enough housing, and many of the reported conditions are concentrated in heavily rent-stabilized buildings that are facing significant operational and financial challenges."
"Rather than addressing these issues directly, the administration continues to paint property owners with a broad brush, unfairly characterizing an entire industry," Whelan continued. "Seven months into this administration, it is time to prioritize policies that will truly make New York more affordable by increasing housing supply and preserving existing housing."
In response to the searchable database, he warned that many smaller property owners will be caught in the crossfire of what he described as a clumsily directed policy.
"By publishing a database of properties that might be subject to this tax before the tax has even been enacted, City Hall has only added to the confusion surrounding this proposal," Whelan said. "What this database really demonstrates is that the second-home tax is far broader and more complicated than its supporters have suggested."
"Policymakers should take a hard look at the many homeowners who could be swept in despite not fitting the profile of the ultra-wealthy residents this tax was supposedly designed to target," he added.
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Ann Korchak, board president of Small Property Owners of New York (SPONY), condemned Mamdani’s influence on politics in a statement to Fox News Digital while discussing his campaign.
"From the start of his mayoral campaign, Mamdani put a target on the backs of property owners," she said. "Small owners are the backbone of the city’s affordable housing stock. We are part of the solution, not the problem, yet he ignores our frontline experience when planning the future of housing."
"Mamdani repeatedly doubles down on making us the villains, using political stunts like ‘rental rip-off hearings’ and using City Administration officials to go door-to-door to organize tenants while on the taxpayer dime," Korchak continued. "They are not tenant organizers, they’re city officials who represent all New Yorkers — including thousands of small owners."
She added that the hearings were cynical political theater.
"The rental rip-off hearings process was no more independent and objective than last month’s Mamdani-appointed Rent Guidelines Board delivering the rent freeze that the Mayor demanded," Korchak said. "These hearings were political theater to make a case against us. The findings were decided before the hearings concluded, just as the rent freeze was predetermined as we learned from the board member who resigned because of the rigged process."
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She went on to warn that Mamdani’s policies will inevitably punish small businesses and immigrants.
"Mamdani’s housing agenda is stacked against us," Korchak told Fox News Digital. "His rent freeze sets us up for failure. The rents are frozen, but our operating costs and expenses — insurance, utilities, energy, repairs, labor — continue to skyrocket."
"Many rent-stabilized buildings are already at the edge of the economic cliff, and when our buildings fall into disrepair because of his policies, Mamdani will illegally take private buildings from mom-and-pop, immigrant, multi-generational owners and convert them into socialized housing or give them to his hand-picked nonprofit housing providers," she added.
Korchak concluded by warning that widespread damage will be done by his policy agenda.
" Mamdani’s pied-à-terre tax is another nail in the coffin," she said. "Creating fear and financial pressure on modest, multi-generational owners, who have poured their life savings, sweat equity and heart and soul into their properties, will destroy the fabric of neighborhoods."
"His list is a database that proves he is targeting property ownership as a whole," Korchak added. "No one is safe."
Fox News Digital reached out to Mamdani’s office but did not immediately receive a response.
Fox News’ Amanda Macias, Alec Schemmel, Andrew Mark Miller, and Kiera McDonald contributed to this report.
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