David Kramer

Have you begun to feel the impact of tariffs yet?

Not yet. We got out ahead of our recent buyouts to precede many of the tariff announcements.

How are you dealing with them?

When the time comes, it’ll be that much harder to make deals work when there’s unnecessary cost escalations.

You’re doing a couple of projects in Hell’s Kitchen. How is it doing affordable or supportive housing in Manhattan versus the outer boroughs?

Construction and management are similar. If I were to think of any differences, it’s that during the city’s land-use review process, there were many neighbors who clamored for more middle-income units, as opposed to low-income units. You typically don’t hear that message in most other neighborhoods.

What’s the biggest obstacle facing affordable developers right now? How’d you overcome it?

Too many to count: Construction costs are sky-high, the Department of Housing Preservation and Development pipeline is long and unpredictable, collections are tough when housing court barely functions, and good luck removing a tenant for non-monetary violations. 

Still, it’s the noblest profession. We don’t overcome these challenges so much as endure them — hopefully with grace.

Do you think there will be less, more or the same affordable housing out of the next New York mayoral administration?

Probably roughly the same. Every mayor since Koch has made big promises on housing — and mostly kept them. We’ll likely see more flexibility around tax credits, offset by less subsidy from the feds.

What would be the single biggest piece of advice you would give to the next mayoral administration?

Remember when Bill de Blasio used the momentum of his 2013 victory to go to Albany and secure pre-K funding? The next mayor should do the same — use that early momentum to push for an omnibus housing bill: Fix 485x, allow for limited vacancy increases to balance a rent freeze, and finally modernize the landlord-tenant court.

Lighting Round:

Mamdani, Cuomo, Adams — Friend, mute, unfollow?
The more friends the merrier, but as a Sliwa Democrat, I’m insulted by his omission.

Your pick for Fed chair `26?
After Lindsey Halligan’s fine, independent work in the U.S. attorney’s office, she’s clearly the obvious choice.

Borrowing costs up or down by late 2026?
Down, please.

More excited about — interest rate cut or Taylor Swift’s engagement?
I’d say hands down the most excitement in NYC is for Jaxson Dart and Cam Skattebo.

Last vacation and where?
Lake Muskoka, showing our Canadian friends we come in peace.

Like in ‘Freaky Friday’ you swap bodies with Jerome Powell. What would you do?
Lower interest rates prudently and speak very highly of the Hudson Companies.

What’s your kryptonite?
Pizza and cheap mezzanine financing.

How are the tariffs going to affect your Thanksgiving shopping?

I’m going to select the cranberry relish recipe with less Canadian steel in it.

You appear on the kisscam at a concert. Who’s performing?
Any concert where Mr. Cardamom is performing.

If Stephen Starr asked you which restaurant he should next reopen, what would it be?
H&H Bagels.