Treasury tried a new approach to get money out the door

Gov. Kathy Hochul touts $1.2B set aside for landlords, with $399M paid out

We hope she’s a common-sense Democrat who will do the right thing for all people

Hochul has the experience and bold ideas to navigate the serious threats facing New York

Adams still has four months to continue making his mark in Brooklyn

Developers wished Adams defended more vigorously projects he supported

Moratorium extened to January 15, 2022

State legislature passed an extension on the state’s eviction moratorium

Lawyers say the proposed workaround won’t cut it

Draft legislation does not make tenants produce evidence of hardship

Newly sworn-in governor plans to hire additional staff to process applications and identify holdups

“I am not at all satisfied with the pace that this COVID relief is getting out the door,”

Of the state’s $2.6 billion in federal rent-bailout money, less than $100 million has been doled ou

Billions of dollars have yet to be distributed by the state to help renters and landlords

She had a history of being a responsible, thoughtful leader

Issues crucial to industry on deck for incoming governor

$3 billion of the $46.6 billion Congress allotted in rent relief has reached those who need it

Local logjams have meant just $3B of $47B has been sent to tenants, landlords

Long-term capital gains and qualified dividends for taxpayers with income over $1 million from 20% to 39.6%, beginning retroactively from April 2021

Key items you should be aware of if your business is in the real estate industry

You keep thinking it can’t get more expensive, that cap rates can’t go lower and prices can’t go higher

Collections, vacancy and rent are at, or above, pre-pandemic levels and investors are all in

mayor to expand and strengthen an existing program that offers one-time assistance to tenants with rent arrears.

One Shot Deal funds $150M in rent arrears each year; a progressive think tank wants Eric Adams to double that

The state has a $2.7 billion pot of funds to be distributed, but only a tiny sum has made its way to landlords since applications finally opened June 1

State has distributed just $117K in rent relief from $2.7B pot, with 160K applications filed

“Unreasonable” is defined as any increase exceeding 3 percent of the annual rent

Tenants can’t be evicted for nonpayment of rent in cases where an “unreasonable” increase in rent occurred

Adams’s eight-year history shepherding the East New York, Brooklyn, rezoning and bolstering multifamily high-rises in Downtown Brooklyn and Williamsburg

The Brooklyn borough president emerged as a palatable choice for developers and brokers

In a 5-to-4 ruling late Tuesday, the Supreme Court rejected an emergency request to vacate the ban

Split-court ruling means landlords must endure for at least another month

The limitation on like-kind exchanges coupled with increased tax rates on long-term capital gains could cause the 2022 tax bill of high-income real estate professionals to skyrocket.

Biden’s newly released Green Book provides further detail surrounding his tax proposals.

Study found that 88% of replacement properties acquired through 1031 exchanges were disposed of through a subsequent taxable sale

This section of the tax code has benefited investors large and small for 100 years.

Mayoral candidates thought to be especially amenable toward real estate interests

Of the three likeliest winners, two — Eric Adams and Kathryn Garcia — have signaled they’re pro-development

Capital gains tax hike would be retroactively applied to assets sold after April 2021.

Capital gains above $1 million from top bracket rate of 43.4% in New York State and city taxes are added, […]

Twelve organizations representing landlords, brokers and developers sent a letter to President Biden on Friday

Federal moratorium set to end June 30; but tenant advocates maintain wave of evictions will follow

The J-51 ball is now in the city’s court.

Program to subsidize renovations expired a year ago

Among the top eight candidates, several could be seen as allies by real estate.

Differences emerge on industry donations, housing policy, taxes

Values would increase to $1,945 for a one-bedroom or $2,217 for a two-bedroom

Bill would increase subsidies for homeless New Yorkers to federal levels

The state legislature approved the $2.7Bprogram in the budget that passed in early AprilThe state legislature approved the $2.7B program in the budget that passed in early April

Program will allocate $2.7B to tenants, landlords hit hard by pandemic

Fighting an uphill battle, plaintiffs set their eyes on a sympathetic Supreme Court

Five separate suits challenging the law’s constitutionality are still taking up space on court dockets.

51% of tenants in a rental building must agree to buy their unit for a conversion to take place

Post-2019 change, 51% of tenants must buy into conversion plans

New York renters will have another lifeline when the statewide eviction moratorium sunsets.

Mayor signs bill giving representation to all low-income renters facing eviction

It is unclear how the state will need to revise its program based on the new guidelines

State must offer funds directly to tenants if landlords choose not to participate in the program

Landlords who accept it can’t evict a paying tenant for a year

New York landlords and tenants will gain access to $2.3 billion in federal aid allocated by the state.

Certain residential and commercial tenants can now avoid eviction until at least Aug. 31.

Frustrated landlords demand Albany get rent aid out the door

100 days into his administration, the president has called for partially eliminating like-kind exchanges.

Uncertainty surrounding capital gains tax break lingers

With just four days until its preliminary vote, the city’s rent board is still one landlord voice short.

Real estate groups say lack of representation is par for the course

Albany legislators are expected to vote Monday to extend the state’s eviction moratorium until August 31s

Rent Stabilization Association, which represents 25,000 landlords, requested an increase of between 2 and 4 percent on one-year leases and 3 to 5 percent on two-year leases.

Property owners testified at Rent Guidelines Board’s Thursday meeting

A landlord fails to give a tenant the required notice, the amount they can raise rent during that one-year extension can drop to as low as 7%.

Tenants would have one-time option to extend leases up to a year

Landlords argue state lacks rational for extension

The extender bill is expected to go to a full vote in the Senate and Assembly later this week.

Biden officials leaked that they will soon propose raising the federal tax on capital gains to 43.4% from a top rate of 23.8% today.

Make that more than 55% if you live in New York or California.

$4.3B in “temporary” tax increases on the personal income of New York’s highest earners and on corporate income.

More than $2 billion in federal and state rent relief, but also tax hikes exceeding $4.3 billion.

Landlord, tenant groups voice concerns about certain provisions.

Newly bill, would bar evictions and rent increases for one year in cases where landlords accept aid.

New York has $2.3 billion from the federal government

Albany finally have the big bucks to pass a substantial relief program as part of the state budget

It’s estimated that between 800,000 to 1.2 million households in New York collectively owe more than $2 billion in rent

Second Round of Rent Relief Reached Even Fewer People Than First

The Senate proposal would prevent landlords receiving rent relief from evicting tenants for nonpayment

Senate and Assembly released their one-house budget resolutions, providing a snapshot of each chamber’s priorities

In his decision, Ramos said the landlords “knowingly entered a highly regulated industry,” according to the report.

Judge says landlords have no constitutional right to “unregulated market”

Cuomo first announced a State moratorium on residential and commercial evictions on March 20 last year for a period of 90 days.

The state legislature is set to extend the eviction moratorium on small businesses and landlords with fewer than 10 apartment […]

The bill includes a variety of measures to provide relief to households, businesses, public institutions, and local governments.

$23.5 billion will be allocated for New York.

Five small landlords sue AG Leitia James over hardship declaration requirement

Blanket moratorium on evictions is unconstitutional.

Mayoral contenders have tapped into several discussions about curbing for-profit development.

Differences emerge on industry donations, housing policy, taxes

Assistance is available, and how to apply so you can take advantage of this program

Commercial real estate investors that can be accessed through state and local governments

More than 30 Assembly members called on Heastie to push for the inclusion of $2.25 billion in rent relief in the 2021 state budget

Assembly members also want rent debt forgiveness for tenants

That proposal hasn’t progressed much, but state officials are now taking steps to push that vision forward.

Measure on accessory dwelling units comes with rent control

The real estate community's alarm over a recent proposal to install sprinklers in every apartment highlighted landlords

Rising liability insurance costs, and delays in city approvals that are making it increasingly challenging to break even financially.

54% of New York state voters believe the Biden presidency will be good for New York

Real estate leaders support Biden’s plan for $25 billion in rental assistance

Evictions, emissions, infrastructure among governor’s priorities

Commercial eviction ban | Office and hotel conversions | Emission cap workaround | Tax and disclosure changes | Infrastructure

Commercial tenants would not be required to disclose the amount of relief they have already received

Ban evictions of businesses with fewer than 50 employees until May 1

We think the arguments laid out in our brief and supported by the amicus filings today will be successful

We look forward to restoring property rights to thousands of property owners

President Joe Biden is extending federal limits on evictions through at least the end of March.

Biden is expected to move quickly to extend protections for renters, Bloomberg reported, and may sign an executive order within […]

Provides no relief to landlords and mortgagees, no way to force the property to be income producing

If a tenant files a Hardship Declaration with an Owner, the Owner cannot bring an eviction proceeding before May 1, […]

New York’s real estate leaders have applauded Governor Andrew Cuomo’s plans to rebuild the economy after COVID, which includes converting surplus commercial space into housing.

Plan to rebuild the economy also included legalizing adult-use cannabis and online sports betting tax to help plug a $15 […]

Limits on ousting tenants will be in place until May 1

Cuomo had previously said he intended to extend existing legislation limiting evictions, portions of which were to expire at the […]

State lawmakers are racing to pass legislation before the end of the year to significantly expand upon the existing limits on residential evictions.

Move comes hours after governor says current regime will be extended

Congress has finally reached a deal on a relief package that includes $25 billion in rental assistance, of which New York would receive $1.3 billion.

Landlord groups say it’s a good start, but not enough

Its omission of funding for city and state governments, however, means real estate will have to fight next year, in New York and probably elsewhere, to stave off tax increases.

Holes in the federal aid package will hurt the industry starting next year

The Albany Democrats' progressive agenda is making some in the real estate community jumpy.

Since the mid-terms, Democrats have held the majority of seats but a supermajority allows Democrats to override any veto from […]

The New York mayoral race may pivot on how well the candidates address a long list of housing policy proposals put forth by a wide-ranging coalition.

A coalition of housing groups releases a blueprint that includes rezoning affluent neighborhoods, legalizing basement apartments and turning hotels into […]