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    Home»Real Estate News»Mayor Eric Adams Ends Term With One Last Screw-up

    Mayor Eric Adams Ends Term With One Last Screw-up

    Team_WorldEstateUSABy Team_WorldEstateUSAJanuary 1, 2026No Comments4 Mins Read
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    It’s becoming that Mayor Eric Adams goes out with a fiasco — one last harebrained scheme that blows up in his face.

    His high aide, Deputy Mayor Randy Mastro, was supposed to forestall foolishness just like the Elizabeth Street Garden drama that marred Adams’ final day in workplace. As a substitute Mastro orchestrated it.

    Bear in mind when the Metropolis Council refused to substantiate Mastro as company counsel as a result of he was too conservative? Adams’ argument was that he was competent. Guess not!

    Two days in the past Adams and Mastro publicly announced that Pennrose could be designated because the developer of a metropolis undertaking at 22 Suffolk Road. Then the press launch famous that Pennrose had not really agreed to that.

    I began masking metropolis authorities in 1992. By no means have I seen town announce a deal earlier than it was reached.

    Pennrose had two days to conform to town’s provide. In trade, the developer must drop its lawsuit towards town for designating the Elizabeth Road Backyard as parkland, blocking Pennrose’s undertaking to construct inexpensive housing for seniors there.

    I doubt I can match all of the ways in which Adams and Mastro screwed this up right into a column. Right here’s the Cliff Notes model:

    Adams was gung-ho to evict the statue backyard and let Pennrose construct the housing, preserving some open house for the neighborhood. His attorneys gained the court docket case, ending a 10-year battle with statue man Allan Reiver, his son Joseph Reiver and privileged Nolita residents who opposed the undertaking.

    Then Adams appointed Mastro and out of the blue every little thing modified. The town reversed its position, siding with the Reivers and towards Pennrose. It was the political equal of Aaron Choose switching from the Yankees to the Mets in the course of a World Sequence between them.

    Mastro then lower a cope with the native Council member, actual property hater Chris Marte, who promised to approve three future housing initiatives if the statue backyard might keep. Mastro continues to insist that with out Marte’s approval, that housing can’t be constructed. That’s false.

    In November, voters approved City Charter revisions that take away a lot of Marte’s leverage to cease initiatives. The incoming mayor, Zohran Mamdani, ought to be capable to get the inexpensive housing achieved with out Marte’s cooperation.

    When Mamdani gained the election and promised to revive the housing plan, Adams and Mastro needed to act earlier than Mamdani shuts the Metropolis Corridor doorways behind them and adjustments the locks. Their good thought was to designate the location as parkland so housing couldn’t be constructed there.

    Pennrose sued, saying town didn’t observe any course of in designating the land. That’s the lawsuit that Adams and Mastro wished the developer (which was partnering on the undertaking with RiseBoro Group Partnership and Habitat for Humanity) to drop.

    No means have been Pennrose, RiseBoro and Habitat going to do this. They’ll seemingly win the lawsuit, and if not, Mamdani can get Albany to reverse the parkland designation.

    Apart from, had they accepted Adams’ provide, there’s no assure it could have held up with Adams and Mastro out of energy. And the builders would have needed to begin from scratch on the Suffolk Road web site, losing 10 years’ of effort on Elizabeth Road.

    The kicker within the metropolis’s press launch Monday was that the statue backyard, which was to obtain a 10-year lease, is behind on its lease for the city-owned web site. It owes $10,000.

    Rewarding a deadbeat tenant is unhealthy optics. However optics went out the window way back on Elizabeth Road — and the Adams administration.

    Learn extra

    Elizabeth Street Garden developers reject Adams deal for alternative city site 


    This Manhattan Council member gets just about everything wrong about real estate


    Nearly 10% of Noho, Nolita storefronts stand empty






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