News:
Spotlight Content
Posted: December 23, 2025
2025 Year in Review: Peter Bafitis, AIA, RKTB Architects
President, Managing Principal
RKTB Architects
What accomplishment, milestone, project or transaction stood out for you or your firm in 2025?
We have lots to be proud of, including the expansion of P.S. 87 and a men’s shelter nearing completion – both in the Bronx — but we’ll always think of 2025 as the year RKTB co-founder Carmi Bee stepped back from leadership, taking the title of principal emeritus. As the new president joined in leadership by principals Alex Brito and Albert Aronov, we’re proud to carry his significant legacy into the future. We’re also delighted by the completion of Shaare Zedek, a beautiful synagogue Carmi co-designed. Anchoring a West Side condo tower by ODA, it’s a perfect capstone to his stellar career.
What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026?
For New York City, the zoning changes put into effect by the passage of the landmark City of Yes legislation have resulted in a significant increase in the number of projects that developers now consider feasible. This means there will be lots more activity in multifamily development across the continuum of housing, from affordable to market-rate and luxury, and even in areas like shelter and supportive housing. These zoning changes have the potential to make a huge impact on the city and its residents, as well as for our clients in the development sphere, both for-profit and nonprofit.
What transaction, project, or key moment best reflected the direction of the New York CRE market this year?
For impact on CRE and just about everything else, it’s hard to imagine a 2025 moment bigger than the mayoral election. Emerging as the clear winner, Zohran Mamdani has made commitments to increase the stock of affordable housing, freeze the rent, and make bus transit free for riders, with major ramifications for developers and projects of all kinds, especially mixed-use projects along major corridors. Whatever one’s opinion of the man or his politics, it’s a seismic shift in leadership. CRE professionals across the Metro Region are busy reading the tea leaves and placing their bets.
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
.jpg)
Columns and Thought Leadership
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
.gif)