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New York City has no shortage of people who want to live here. The real challenge is supply.

In this episode of Broker Brunch, Mitchel Flaherty sits down with Jamie Smarr, President and CEO of the Housing Partnership Development Corporation, to discuss why NYC is not building enough housing and what it means for the future of the market.

Jamie breaks down how public-private partnerships helped rebuild New York in the past and why stronger incentives, fewer regulatory barriers, and better policy alignment are key to increasing housing production today. 

The conversation also explores programs like 421A and 485X, the role of government incentives, and why housing supply remains the central issue behind affordability in the city.

For brokers, developers, and investors in the New York real estate market, this episode provides valuable insight into the policies, economics, and market forces shaping NYC housing today.

Connect with us on LinkedIn:

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

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

(00:00) Why NYC’s Housing Supply Is Broken

(03:41) Programs Helping New Yorkers Become Homeowners

(07:26) The Real Problem: Demand vs Housing Supply

(12:23) Politics, NIMBYism, and Why Housing Gets Blocked

(15:12) Massive Demand for Affordable Housing in NYC

(19:09) Converting Offices to Housing: Why It’s Difficult

(24:24) Creative Real Estate Development in NYC

(27:13) Lessons From the Bloomberg Development Era

(28:50) Why NYC Must Keep Building Housing