Local 32BJ SEIU and 3,500 apartment building owners finalized a tentative contract Friday, averting a potential strike by 34,000 residential building-service workers. The agreement comes after weeks of tense negotiations between the union and the Realty Advisory Board on Labor Relations, which represents the building owners. The deal prevents the first walkout by New York City’s doormen and maintenance staff since a 12-day strike in 1991, which disrupted trash collection and package handling across thousands of apartments.

Workers authorized a strike as early as Tuesday if terms weren’t finalized, prompting residents and landlords to prepare for self-managed building services. Union President Manny Pastreich and Realty Advisory Board President Howard Rothschild will jointly announce the agreement at 4 p.m. Friday. While financial details remain undisclosed, the resolution highlights the critical role of doormen in maintaining urban housing infrastructure and the high stakes of labor disputes in New York’s competitive real estate market.

The negotiations underscore broader challenges in balancing worker compensation with property management costs. With the current contract set to expire Monday, the deal’s terms could set precedents for future labor agreements in the city’s $1 trillion residential real estate sector. Analysts note that even minor disruptions in building services can ripple through local economies, affecting everything from property values to tenant satisfaction.