Mark D. Levine (NYC Comptroller)
Public-sector finance leader sharing insights on budgets, cash/investment stewardship, and financial operations at scale; an individual (not a brand).
NYC Rents Hit Record Highs, Exposing Affordability Crisis
NEW: Manhattan rents just hit yet another record high. Median rent for market-rate apartments in May reached $5,125/month. Up 7% in past year. Vacancy only 1.57%. Median rent in Brooklyn also reached an all-time high: $4,347 These astronomical rents disprove the myth that no-one wants to live in NYC. They also show how far we have to go to solve the worst housing affordability crisis in our city's history.
NYC’s New 350‑Mile Hydro Line Powers 1M Homes
Just a massive change in NYC's power grid this week. Getting almost no attention. A 350-mile transmission line bringing hydro power from Canada to NYC is now live. It will provide enough electricity for 1M homes, bringing the five boroughs to 40%...
NYC Inflation Outpaces Nation, Fueled by Energy, Rent, Groceries
Data on inflation in NYC metro area out today. CPI up 4.6% here over past 12 months, compared to 3.8% nationally. Local price increases are being driven mainly by rise in cost of: * Energy (especially electricity) * Rent (up 4.3% here vs 2.8%...
NYC Aims for 47% Clean Power by 2027
The Indian Point nuclear power plant used to provide 20% of NYC's electricity. When the plant was closed in 2020 the gap was filled mostly with fracked gas. We are now finally back to 20% of our supply coming from...
Tree‑less Neighborhoods Face Heat, Asthma, and Inequity
NEW: My office analyzed NYC’s urban forest—more than 7 million trees across our streets, parks, and private land. We found that neighborhoods with the least tree canopy tend to have the highest heat vulnerability, and also have the highest rates of...
Saudi Arabia Pulls $200M Met Opera Funding Amid War
Saudi Arabia has just backed out on a deal to provide $200M in much-needed funding to @MetOpera. The reason: Because of the war’s impact on the Saudi economy, they are pulling back on funding commitments. This is a terrible blow to one...
NYC Finance Booms: Record Wall Street Revenue, Tax Receipts Rise
Some good news: NYC’s financial sector looks to have had a strong first quarter. Wall Street trading desks posted record revenue. Earnings at the investment banking units of the big five banks grew 22% year over year in Q1 2026. We’re...
NYC Pension Funds Allocate $4B to Citywide Housing
Big news: we just announced our plan to invest $4B of NYC’s pension funds in financing housing across the five boroughs
Manhattan Rents Hit Record $5k, Supply Crisis Persists
New monthly report: Median rents in Manhattan remain at record high $5k/month. +6% over past year. Avg. for 2-bed hit all-time high $8,166. Lack of supply is driving these sky-high rents: "In March, Manhattan’s rental market remained incredibly inventory constrained. With just...
Turning NYC Budget Woes Into Future Strength
Great conversation tonight with @errol.louis on @ny1 about NYC’s budget challenges, the negative outlook from Moody’s, and how we can come out of this stronger.
NYC Council Approves Massive Affordable‑Housing Tower
Big News: @nyccouncil today approved what will be one of the largest residential buildings in the nation. 395 Flatbush Ave Ext in Downtown Brooklyn will no long be an (ugly) low-rise. It will become a tower with 1,200 homes, 25% of...