Ken Fisher is quoted in a Crain’s New York Business article discussing a bribery scandal involving New York City’s housing approval process. Brooklyn-based developer Yechiel Landau allegedly bribed Mayor Eric Adams’ top adviser, Ingrid Lewis-Martin, to fast-track his project through the city’s Housing Preservation and Development (HPD) pipeline, bypassing a potentially years-long wait. In return, Landau provided Lewis-Martin with $5,000 in property renovations and funded housing. The 371-unit project at 498 Columbia St. in Red Hook is now under construction.

The indictment revealed a history of Landau’s political connections and donations, raising concerns about favoritism and corruption. The number of new projects in HPD’s pipeline has been around 750 in recent years, with delays heightened post-pandemic. “It’s well known in the housing industry that HPD has a pipeline that seems to stretch towards infinity,” said Ken. “Every developer is clamoring to get their stuff done and every developer that has relationships with anyone who can facilitate that is likely to be taking advantage of it. In almost all cases, there’s nothing untoward, let alone nefarious about that. It’s only when it’s connected to some quid pro quo that it’s problematic.” HPD stands by their decision to approve Landau’s projects, but noted that they are “evaluating next steps given this new information to safeguard the city’s interests in these projects.”

To read more, click here.