Former New York Governor Andrew Cuomo, who lost the Democratic primary for mayor of New York City to Zohran Mamdani by significant margins and is now contesting as an independent, is second in the race to clinch the mayor’s title in the largest city in the United States.
Mamdani won on a message of affordability, but Cuomo has slammed his plans as extreme and not feasible. media did an analysis of Cuomo’s economic policies to see what he has to offer for New Yorkers.
Cuomo – who only moved into New York City in September 2024 after living in Westchester, a suburban community north of the city – has promised to build over the next decade half a million new apartments, two-thirds of which will be “affordable”. The plan offers tax incentives to private developers to build more residential developments. It also says it will loosen zoning laws to promote office-to-residential conversions.
However, much of what he’s touting is already city policy.
New York launched an office-to-housing programme in 2020 under former Mayor Bill de Blasio, followed by reforms last year to speed up conversions under incumbent Eric Adams.
According to a report from City Comptroller Brad Lander, who also ran in the primaries but has since endorsed Mamdani, those initiatives have already produced 44 conversions. Projects finished or under way are expected to create as many as 17,400 units citywide – mostly studios and one-bedroom apartments – including one of the largest office-to-housing conversions in the country in Lower Manhattan.
Cuomo’s plan to expand housing options across the city also taps into publicly owned land, including vacant lots, to allow for development of new housing and mixed-use development – the same as both other leading candidates, Mamdani, a former State Assembly member, and Adams.
Cuomo wants to pump $2.5bn into public housing over the next five years, which would be a 75 percent increase from the city’s current funding. For housing protections, he wants to add more lawyers in the city’s housing court system to help renters with issues like tenant harassment and unlawful eviction and provide more housing vouchers to help address homelessness.
However, Cuomo’s history says otherwise. When he was governor, he pushed the state to cut funding for a rental voucher programme called Advantage. The cuts from Albany, the state capital, left City Hall no choice but to cut the programme altogether.
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