Vornado Realty Trust CEO Michael Fascitelli is firing back at New York City Mayor Eric Adams' recent criticism of the real estate industry, which the mayor labeled as "tax the rich." In a strongly worded statement, Fascitelli took aim at the mayor's remarks, which he claims are misguided and unfairly target the commercial real estate sector. The CEO argues that the industry is a significant contributor to the city's economy and that the proposed tax hikes would ultimately hurt small businesses and tenants. As the city continues to grapple with budget shortfalls and rising costs, the battle between the mayor and the real estate industry is likely to escalate, with Fascitelli's comments adding fuel to the fire.
News | Vornado CEO takes aim at New York mayor’s ‘tax the rich’ attack CoStar
