Broker fees are set to disappear for most New York City renters, as Mayor Eric Adams said on Tuesday that he would not veto a City Council bill that would make those who hire brokers responsible for paying them.
Hizzoner made the revelation during his weekly wide-ranging press conference, saying that he will not stand in the way of the bill — known as the FARE Act — becoming law. However, the mayor clarified that he still has concerns that the measure would have unintended consequences for tenants and those in the real estate industry, so he may not sign the bill.
