September 22, 2021

Dream big: Fully-funded federal rent vouchers would bring billions to NY

Households in the state would have $8.58 billion to spend including $5.8 billion for city residents.

Universal access would expand aid to four times more households

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September 17, 2021

How the Commercial Rent Stabilization Act will damage NYC’s economy

Commercial Rent Control Proposed Again as NYC Retail Reels From Pandemic

Enacting Commercial Rent Stabilization will significantly damage New York City’s economy and impair the viability of conducting business in NYC.

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September 16, 2021

Two more rent law challenges tossed, landlords rest hopes on appeal

Dismissed suits argued that the rent law is unconstitutional

Third lawsuit awaiting arguments in Second Circuit

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September 14, 2021

After huge head start for rest of US, NY now ranks 1st in rent relief rollout

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

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September 13, 2021

Kathy Hochul Gets High Marks for Now From the Real Estate Industry

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

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September 13, 2021

Eric Adams’ Approach to Real Estate as Mayor? See His Borough Presidency

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

Developers wished Adams defended more vigorously projects he supported

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September 03, 2021

Legislature passes new eviction moratorium

Moratorium extened to January 15, 2022

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

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September 01, 2021

Here’s NY’s new eviction policy — and why it may be struck down

Lawyers say the proposed workaround won’t cut it

Draft legislation does not make tenants produce evidence of hardship

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August 24, 2021

Kathy Hochul pledges to speed up rent relief rollout

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,”

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August 19, 2021

Albany better move fast to get federal funds to tenants and landlords

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

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August 12, 2021

Kathy Hochul faces tough decisions on real estate

She had a history of being a responsible, thoughtful leader

Issues crucial to industry on deck for incoming governor

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August 11, 2021

Billions in allotted rent aid hasn’t gone out

$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

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August 09, 2021

How the Biden Administration’s Proposed Tax Plan Could Affect Real Estate

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

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August 09, 2021

Multifamily Investment Booms Despite Eviction Moratoriums

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

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July 27, 2021

City program could supplement state rent relief — if next mayor signs off

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

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July 27, 2021

NY rent relief rollout slowly inches forward as evictions loom

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

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July 20, 2021

Albany passes good cause eviction bill. Tenant advocates vow rest of NY is next

“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

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July 09, 2021

Real Estate Industry Couldn’t Be Happier With Eric Adams’ Primary Victory

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

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July 01, 2021

Supreme Court declines to lift CDC eviction ban

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

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June 30, 2021

Like-Kind Exchanges To Be Limited Under Biden’s Tax Proposals

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.

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June 30, 2021

1031 Exchanges Could Change Forever — What Do You Need To Know?

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.

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June 24, 2021

Real Estate’s Odds in NYC Mayor’s Race Just Got Better

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

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June 16, 2021

NYC real estate biz is fighting bevy of new taxes, regulations

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, […]

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June 14, 2021

Dear Mr. President: Landlords urge Biden to let eviction ban expire

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

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June 08, 2021

State renews J-51, putting tax break’s fate in city’s hands

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

Program to subsidize renovations expired a year ago

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June 03, 2021

Where mayoral candidates stand on real estate

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

Differences emerge on industry donations, housing policy, taxes

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May 28, 2021

All eyes on de Blasio after City Council approves housing voucher increase

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

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May 25, 2021

New York rent relief applications open June 1

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

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May 17, 2021

Where the lawsuits challenging NY’s 2019 rent law stand

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.

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May 13, 2021

Rental-to-condo conversions drop 80% after 2019 rent law: report

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

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May 12, 2021

City expands free legal services for tenants, fearing eviction rush

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

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May 11, 2021

Federal guidelines could complicate state’s rent relief rollout

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

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May 05, 2021

Rent relief hinges on dwindling goodwill

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.

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May 03, 2021

New York votes to extend eviction ban through August

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

Frustrated landlords demand Albany get rent aid out the door

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May 03, 2021

Biden’s proposal to cut 1031 exchanges may be “tremendous blow” to real estate: experts

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

Uncertainty surrounding capital gains tax break lingers

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May 03, 2021

City rent board missing landlord rep ahead of preliminary vote

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

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May 01, 2021

Albany Appears Poised To Extend Eviction Moratorium Again

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

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May 01, 2021

Landlords seek up to 5% rent hike on stabilized apartments

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

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May 01, 2021

New bill would mandate retail lease renewals in NYC

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

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April 27, 2021

Lawmakers to extend eviction, foreclosure protections through August

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.

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June 30, 2021

43.4% Capital Gains Tax?

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.

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April 08, 2021

Real estate’s wins and losses in new state budget

$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.

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April 08, 2021

NY close to approving $2.4B rent relief bill — but its rollout will be the real test.

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.

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April 01, 2021

Tenants and Landlords’ Future Hang in Balance Over State Budget. Here’s What That Means

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

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March 25, 2021

NY’s Second Round Of Rent Relief Only Distributes $7 Million Of $60 Million Available

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

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March 22, 2021

Housing advocates pressure lawmakers to ban no-cause evictions, rent increases

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

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March 16, 2021

Manhattan judge upholds 2019 rent law

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”

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March 12, 2021

Commercial eviction moratorium expanded, extended through May

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 […]

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March 12, 2021

Biden’s Stimulus Package: What’s In It for Real Estate?

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.

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February 26, 2021

Lawsuit challenges New York eviction ban’s constitutionality

Five small landlords sue AG Leitia James over hardship declaration requirement

Blanket moratorium on evictions is unconstitutional.

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February 24, 2021

Where mayoral candidates stand on real estate

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

Differences emerge on industry donations, housing policy, taxes

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February 22, 2021

How Landlords Get COVID Relief Funding

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

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February 20, 2021

Lawmakers call for $2B in rent relief in state budget

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

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February 04, 2021

New Bill Would Legalize Basement Apartments in New York

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

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January 28, 2021

What New Policies Are Increasing Costs for Struggling NYC Landlords During COVID?

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.

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January 27, 2021

The NYC Real Estate Industry Wants Big Things From Biden. Take a Number

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

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January 27, 2021

Five key real estate proposals in Cuomo’s budget

Evictions, emissions, infrastructure among governor’s priorities

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

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January 27, 2021

Lawmakers one-up Cuomo with commercial eviction and foreclosure bill

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

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January 27, 2021

Industry heavyweights back New York’s fight against controversial rent laws

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

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January 21, 2021

Biden to extend limits on evictions, foreclosures

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 […]

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January 14, 2021

Landlord-tenant implications of New York’s new Covid Emergency Law

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, […]

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January 12, 2021

Empty commercial space to become homes under CUOMO recovery plan

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 […]

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December 27, 2020

Albany strikes deal on eviction and foreclosure bill

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 […]

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December 24, 2020

Lawmakers rush to pass more limits on residential evictions

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

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December 22, 2020

New York to get $1.3B for rent relief in stimulus package

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

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December 22, 2020

Congress came through. Why is real estate not satisfied?

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

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December 10, 2020

With a new supermajority, Democrats eye more progressive real estate protections for renters.

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 […]

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December 10, 2020

Housing Fights to Be Heard in the Mayoral Race

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 […]

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