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What’s really stopping NYC from solving its affordable housing crisis—and what can be done about it?

In this episode of The Broker Brunch, we sit down with David Schwartz, co-founder of Slate Property Group, one of the most forward-thinking real estate firms tackling the city’s housing challenges head-on.

With a portfolio spanning billions in investments and groundbreaking projects like hotel-to-housing conversions, David shares his no-nonsense take on why the system is failing and how developers, investors, and policymakers can actually fix it.

We get into David’s journey from investment banking to leading one of NYC’s most active development firms, why affordable housing isn’t just a necessity but an opportunity, and how the right partnerships can turn complex deals into scalable solutions. From zoning red tape to financing roadblocks, he pulls back the curtain on what it really takes to build housing in one of the most competitive markets in the world.

David also shares his outlook on where the biggest opportunities in real estate are right now, what cities can learn from NYC’s struggles, and why solving the housing crisis requires thinking like an entrepreneur, not a bureaucrat.

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Our Socials:

Brian Whelan: https://www.linkedin.com/in/brian-whelan-43155850/

Mitchel Flaherty: https://www.linkedin.com/in/mitchel-flaherty-7b4b1064/

(00:00) NYC’s Affordable Housing Crisis

(02:15) Why NYC’s Housing Market Is So Broken

(06:30) The Role of Zoning Laws in Housing Supply

(10:45) The Impact of 421A and Other Tax Incentives

(15:20) Why Developers Struggle to Build Affordable Housing

(18:35) The ‘City of Yes’ Initiative – What It Means for NYC

(22:50) The Hotel-to-Housing Conversion Strategy

(28:10) How to Speed Up Affordable Housing Development

(32:45) The Real Costs of Building in NYC

(37:20) The Role of Public-Private Partnerships in Housing

(42:00) What Policymakers Can Do to Fix the Crisis

(46:30) Future Trends in Affordable Housing

(51:00) How to Make NYC More Livable