NYC Building Workers' Union Reaches Agreement to Avert Strike
The union representing over 34,000 New York City residential building workers, 32BJ, reached a tentative agreement with the Realty Advisory Board, averting a strike that was set to begin next Tuesday. The agreement includes a new four-year contract with a $4.50 hourly wage increase, a 15% pension increase, and fully paid healthcare benefits. The Realty Advisory Board, representing building owners, managed to find creative solutions to save money without affecting workers, such as a health fund holiday. The agreement reflects economic realities facing the residential real estate sector, including potential rent freezes on stabilized units and escalating operating costs. 
