NYC Councilmember Calls for Real Estate Broker Reform After Allegations of Corruption

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NYC Councilmember Calls for Real Estate Broker Reform After Allegations of Corruption
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Following a lawsuit alleging pressure to award a lucrative city real estate account to a friend of a close Mayor Adams ally, Councilmember Lincoln Restler demands the city seek new brokers and bar the involved official from the selection process. The lawsuit accuses Cushman & Wakefield of sidelining a woman-owned firm and attempting to 'destroy' its reputation after yielding to Jesse Hamilton's request. Restler advocates for transparent standards and goals for minority- and women-owned business hiring to combat alleged corruption.

A New York City councilmember is demanding reform after a close ally of Mayor Eric Adams was accused in a lawsuit this week of pressuring a real estate brokerage to put the ally’s friend in charge of a “highly lucrative" city account.

The city’s agreement with Cushman & Wakefield, one of two firms handling its commercial real estate deals, expired on Nov. 19, 2024,Restler said the city should seek new brokers expeditiously, and bar Hamilton from participating in the process. A DCAS spokesperson said the agency expects to issue a request for contract proposals from brokerages later this year. Agency spokespeople declined to comment on the substance of JRT’s complaint.

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