Elliman CEO: ‘People are afraid to walk in NYC’
Dottie Herman says public safety is key to city’s real estate recovery
Video via FOX
The CEO of Douglas Elliman is tying New York City’s real estate recovery to public safety amid concerns over rising crime.
“People are afraid to actually walk in the city anymore,” Dottie Herman said while a guest on FOX Business’ “Cavuto: Coast to Coast” Monday. “From everything I hear — and I’m out there all the time — the biggest problem is crime.”
Herman also raised red flags about rising taxes on the wealthy.
“This is not the year to do it,” she said. “We’re the highest taxed state in the country.”
Herman did take note of one silver lining from the pandemic: young people, she said, have been able to afford to move into the city thanks to more favorable costs. But she also pleaded for new leadership to take charge of the problems she sees plaguing the city.
“We better elect someone who’s really great as the mayor because it needs somebody and it needs the right person to build New York City,” Herman said.
In all likelihood, former police captain Eric Adams will be the city’s next mayor after the Brooklyn borough president emerged victorious from the Democratic primary.
Adams does have the backing of many real estate executives, perhaps believing that he can help combat crime and make the city safer, in turn boosting the real estate market.
Adams’ campaign also called for “aggressive” housing construction, though he blamed development for rising rents in communities of color and curtailed the ambitions of some proposed developments in Brooklyn.
[FOX Business] — Holden Walter-Warner
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