Commercial real estate distress is climbing to record highs, while New York’s housing pipeline slows and political battles heat up ahead of the mayoral race. In this episode of Best & Final, we break down the pressures in the CMBS market, Extell and Vornado’s billion-dollar development strategies, and the latest snapshots from Tribeca, East Harlem, and the Manhattan office market. Distress, debate, and development — all shaping the city’s future.