2025 Year in Review: Peter Bafitis, AIA, RKTB Architects

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? 

We have lots to be proud of, including the expansion of P.S. 87 and a men’s shelter nearing completion – both in the Bronx — but we’ll always think of 2025 as the year RKTB co-founder Carmi Bee stepped back from leadership, taking the title of principal emeritus. As the new president joined in leadership by principals Alex Brito and Albert Aronov, we’re proud to carry his significant legacy into the future. We’re also delighted by the completion of Shaare Zedek, a beautiful synagogue Carmi co-designed. Anchoring a West Side condo tower by ODA, it’s a perfect capstone to his stellar career.

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? 

For New York City, the zoning changes put into effect by the passage of the landmark City of Yes legislation have resulted in a significant increase in the number of projects that developers now consider feasible. This means there will be lots more activity in multifamily development across the continuum of housing, from affordable to market-rate and luxury, and even in areas like shelter and supportive housing. These zoning changes have the potential to make a huge impact on the city and its residents, as well as for our clients in the development sphere, both for-profit and nonprofit.

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? 

For impact on CRE and just about everything else, it’s hard to imagine a 2025 moment bigger than the mayoral election. Emerging as the clear winner, Zohran Mamdani has made commitments to increase the stock of affordable housing, freeze the rent, and make bus transit free for riders, with major ramifications for developers and projects of all kinds, especially mixed-use projects along major corridors. Whatever one’s opinion of the man or his politics, it’s a seismic shift in leadership. CRE professionals across the Metro Region are busy reading the tea leaves and placing their bets.