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 legislative body. The mayor cannot unilaterally pass laws but can propose legislation through the council speaker’s office.

• Veto authority: Once the council passes a bill, the mayor can sign it into law or veto it. The council can override a veto with a two-thirds majority.

Real Estate and Housing Influence

• Zoning and land use: The mayor oversees the Department of City Planning and the City Planning Commission, which play a central role in rezoning and approving development projects.

• Affordable housing agenda: The mayor sets priorities for housing development, including affordable housing targets, and can direct city agencies to implement programs accordingly.

• Rent Guidelines Board appointments: The mayor appoints all nine members of the Rent Guidelines Board (RGB), which determines rent adjustments for nearly one million rent-stabilized apartments. This gives the mayor indirect power over rent control policies.

Political Leverage

• Budget control: The mayor proposes the city budget, which can fund or defund housing initiatives, tenant protections, and development incentives.

• State-level coordination: Many real estate laws — like rent regulation — are governed by New York State. The mayor must work with Albany to influence broader housing policy.

Zoning and Land Use Powers
Through the Uniform Land Use Review Procedure (ULURP), the mayor influences:

• Comprehensive rezonings and neighborhood upzonings.

• Affordable-housing mandates, such as Mandatory Inclusionary Housing (MIH).

• Public-private partnerships on city-owned sites.

Rent Regulation via the Rent Guidelines Board
Nearly one million apartments are rent-stabilized — over 4 in 10 rental units citywide.
The nine-member RGB, entirely appointed by the mayor, sets annual rent adjustments for stabilized units. Under mayor Bill de Blasio, the RGB approved zero-percent rent increases in 2015, 2016, and 2020 — the first freezes in its history. Those freezes helped rent-stabilized prices rise by under 12% over the past decade, compared with a more than 27% increase in the regional Consumer Price Index during the same span.

Looking Ahead: Zohran Mamdani’s Proposals (if elected)
Zohran Mamdani’s housing platform proposes:

• Tripling city-funded, permanently affordable, union-built, rent-stabilized homes — 200,000 units over 10 years.

• Doubling NYC’s capital investment to preserve NYCHA and expand publicly controlled housing.

• Fast-tracking 100% affordable developments and fully staffing HPD, DCP, and NYCHA to expedite approvals and repairs.

• Universal rent stabilization, eviction bans, and municipal ownership of grocery stores, funded by progressive tax increases and corporate levies.

While these goals exceed traditional mayoral reach, they rely on strategic RGB appointments, Albany buy-in for state law changes, robust budgeting, and political coalition-building across city council and community groups.

In sum, the mayor is neither omnipotent nor powerless. Real estate policy flows through the intersections of executive action, agency rule making, council legislation, and state authority. Understanding each lever — and its limits — shows why every mayor must negotiate with stakeholders, partners, and even political rivals to effect change.

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Ron Cohen chief sales officer/associate broker at Besen Partners, Manhattan, N.Y.