Law’s reform in 2019 eliminated the 20 percent rent hike allowed when stabilized units became unoccupied

CHIP poll shows where landlords are cutting corners

Real-estate taxes are the biggest contributor to New York City’s coffers

Commercial Real Estate is nearly $9B short of its most recent high

Making it more difficult for landlords to cycle affordable apartments

Essential knowledge

Stabilized tenants have limits on what they can charge guests

A new NYC law requires hosts to register their short-term rentals

It is unclear how projects obligated to include affordable housing can pencil out without 421a.

Some developers are forging ahead

Bureau of Labor Statistics (BLS) to create a rent index based on new tenants rather than the average of all renters

Rent may be falling quickly, but any drop is unlikely to impact inflation measurements until next year because of a […]

A third method is to convert rent-stabilized buildings into condos and co-ops

Deregulation severely limited by 2019 law, but may have happened anyway

It seems that for every fully or mostly leased, high-profile corridor like Broadway in Soho, there’s a stretch full of...

Manhattan’s struggling retail scene seems to get all the attention.

Be selective! consider space, location, cost of building, cost of lending

Be cautious! developers and bankers agree when considering development

When months of supply go above eight and a half, buyers get some leverage

Take away from the real estate data as we head into 2023

Even those convicted of murder and other heinous crimes

A controversial bill prohibiting Big Apple landlords from performing criminal background checks on prospective tenants

7.3% drop in October alone

Rising interest rates tank property sales

Rising interest rates triggered 30 percent decline from previous quarter

Deals for multifamily properties totaled $3.63 billion, down 30 percent from the previous quarter

The Federal Reserve could bump rates another 1.75 percentage points by next year, further raising the cost of borrowing

Borrowing costs, falling rent growth kill deals as sellers refuse to drop prices

The number of vacant rent-stabilized apartments has nearly doubled

Advocates are sounding the alarm about the growing number of empty rent-stabilized apartments

Inflation could push rates beyond 7% threshold, economist Lawrence Yun forecast

Mortgage rates could climb another 1.5 percentage points, according to a leading economist

Data in reports, as in credit reports, are often incorrect

Firms sell landlords information that is often wrong, misleading or irrelevant

In 10 months, the rent aid program has received just a sprinkling of additional cash

Mom-and-pop owners protest failures of state’s rent relief

The governor also committed about $800 million to the Emergency Rental Assistance Program in the state budget

Washington reallocates $100M to New York

Average 6.7% rate more than doubled year-over-year: Freddie Mac

Federal Reserve keeps raising benchmark interest rates in an effort to tamp down inflation

The owner also needs to disclose when the last lease expired

City Council on Thursday passed a bill to ramp up reporting requirements for vacant retail space

The Federal Reserve raises interest rates for the fifth time this year

Federal Reserve expects interest rates to remain elevated for years to come

Inflation is the primary culprit

3.25% pencils out to a pittance

Combination apartment is proportionally higher than other rent-stabilized units in the building

Landlords warehousing apartments in order to combine neighboring units and increase rents

The bill had also included good cause eviction protections for tenants

Comptroller proposes similar program to temporarily legalize basement, cellar units

2019 rent law ended so-called luxury decontrol

As part of the deal, they must reset rents to legal rates, refund tenants the difference, and once again offer […]

Median rents in those spots are at least 26% below the median for the borough

More-affordable neighborhoods in Brooklyn and Queens see jump in interest during the apartment market’s peak season

In this episode how to plan in advance of a sale and keep more of what you have worked so hard for

If you don’t plan for the sale of real estate then you risk a big capital gain tax bill.

The average arrears when these cases were filed was $10,085; the average amount owed at the time of the eviction? More than three times that figure: $33,695.

Again, this hurts tenants as well as landlords.

In the first half of this year, landlords have sued to evict two-thirds as many tenants as they did during the same period in 2019

70,000-case backlog pushes landlords to the breaking point

The Fed is trying to raise rates to tamp down the interest-rate sensitive parts of the economy, like commercial real estate, autos, the financial markets, technology

That means upward pressure on longer-term rates, cap rates and borrowing costs by extension

Renters have been rushing to the city looking for anything and everything

Contract signings were down 30 percent year over year last month

Housing Stability and Tenant Protection Act, a sweeping rent reform passed by the state Legislature in 2019, dramatically limited landlords

Landlords blame the state’s rent law for making repairs a money-losing proposition; lawmakers don’t believe them

Prospect Lefferts Gardens experienced a 7.8%+ in average rents, and rents in Crown Heights jumped 5.3%+.

In Brooklyn, the average rents increased in 15 of the 16 neighborhoods it tracks

In this episode, we take a look at the biggest New York City landlords you’ve probably never heard of—private equity-backed owners.

Legislative chatter this spring was that landlords and tenants might trade the passage of one policy for the other so that both sides went home with something.

The bill’s failure was a blow for groups like Housing Justice For All, which has rallied relentlessly to pressure the […]

7% jump from the month prior and 21% increase above May 2021 levels

Brooklyn as median rents with concessions notched a new high of $3,206

Guest List..

Elyssa Marcus Vice President, Asset Management & Development, Jamestown LP Joel R. Marcus Partner, Marcus & Pollack LLP David Shorenstein […]

Rising interest rates trigger increase in negative leverage

Sales of multifamily assets have been hot in the past year, but rising interest rates are now putting investors into […]

Oil rose 70%, natural gas 21.6%, electricity, 11.1%

2% and 4% for one-year leases and 4% to 6% for two-year lease

2,000+ eviction cases filed by landlords every week

Process more eviction cases than any other city in the nation

Fed could go too far as it tries to cool the economy down and might, in the worst case, cause a recession

Inflation is at its highest in four decades

Mayor Eric Adams says he wants to support small landlords

Some Democrats are calling proposed increases for NYC roughly one million rent-stabilized apartments

Episode 043 – What is Good Cause Eviction? Nothing Good!

After listening you will clearly understand why passage of this Bill will be GOOD for nothing!

Landlords have also spent 25% of their income on property taxes, above the board’s findings of 20%.

Two weeks after the Rent Guidelines Board’s staff floated rent hikes of up to 4.5 percent on one-year leases for […]

While new renters arrive to fill the vacancies, giving the advantage to landlords

Many who can’t afford steep increases are migrating to other parts of the city.

Average hike was 1% under Bill De Blasio

Landlords’ costs jumped across the board from April 2021 to March 2022 except for property taxes, which dropped 3.7% because […]

Lawmakers need to pass a sweeping housing-policy package that reforms property taxes

Lawmakers need to get back to the drawing board, but they need not reinvent the wheel

LRAP gets $125 million$35 million to provide legal help to tenants being evicted

ERAP gets $800 million

Landlords irate as tenant lawyers ask courts to slow down scheduling

Court system agreed to adjourn cases by up to three weeks and use that time to match tenants with an […]

The ones hurting are small-property owners facing inflation-driven rising costs and property taxes.

Eviction filings are actually lower than pre-pandemic levels

421a tax incentive program costs New York City $1.77 billion

The law’s benefits exempt any increase in taxes attributed to constructed improvements to the property

Owner groups say rent-stabilized housing on brink of “collapse”

Profits plunged as rental income declined 3.8 percent year-over-year

The average 30-year fixed-rate loan broke 4.25 percent last week

Federal Reserve raised interest rates for the first time since 2018

Landlord groups had estimated that the state needed at least $2 billion to cover the 126,000 pending applications

Federal allocation is 7% of what state requested

The good cause bill would give tenants a defense against eviction in housing court if their rent is raised by more than 3% or 1.5 times the regional inflation rate, whichever is higher.

Experts say the unions’ push could draw lawmakers’ attention to the good cause campaign

Median rental prices rose 10.5% in February, to $2,900 from $2,625

Brooklyn saw increases in rents and declines in inventory

Con Edison heating bill was up 43 percent in December, compared to two years prior

Utility costs have spiked in recent months, but the war is unlikely to make things worse

Rents are higher than they were before the pandemic.

While rents plunged at the start of the pandemic, they are now surging, and the increase is double the national […]

Rent-stabilized apartments were now “significantly devalued” compared to market-rate rentals.

Landlords argue that the rent-regulation system violates their constitutional property right

Prevent owners of buildings with 12 or more units from reclaiming apartments for personal uses

“Good Cause Eviction” bill will strictly limit rent increases and evictions on New York City renters.

Landlord planned to increase her rent by 46.5%.

NYC rents were the highest in the nation

Commercial real estate sector experienced the same boost of positivity in estimated values

Overall, all properties in the city were valued at $1.4 trillion, 2.1 percent above pre-pandemic levels

A ruling in favor of CHIP and RSA would kick the case back to the trial court.

Landlords argue 2019 reform amounted to taking of property

Multifamily properties remained a hot commodity

Development parcels also traded hands, while industrial sales took the week off

Brokers call this season’s market unprecedented

Tenants leasing apartments sight unseen and months in advance

Increase in landowners lying in eviction trials to get tenants evicte

Took the money and still evicted the tenants

“We anticipate that this year’s RGB data, which board members must take into consideration, will support reasonable rent increases,

Mayor also supports governor’s 421a replacement program

Living Here is Getting More and More Difficult

The 40-year-old state law that created the system was built to favor single-family homeowners over renters or commercial buildings.

Developers act now to lock in tax incentives provided under the city’s current 421-a program

Will expire on June 15, 2022, and is not expected to be renewed

Adams had long ingratiated himself with real estate executives

New mayor to tackle, including quality-of-life issues, faster permitting and zoning changes

New court dates won’t be booked until March or April for most

Backlog of tenant-landlord cases opens to confusion among courts

About a third of all multifamily transactions have been affordable housing

Multifamily assets boosted the market to levels not seen since 2018

Multifamily sales easily led the way with $335.3 billion of sales, a 128% jump

Multifamily and industrial sales led sectors with $335.3B and $166B, respectively

Allow a minimum of one ADU on owner-occupied residentially zoned lots

Tax rebate for homeowners, increasing the allowable number of accessory dwelling units (ADU)

Legislature has until April 1 to sign off on a budget

Relief needs approval by the state legislature and would take months

Focus on the interiors and amenities of each unit

Take down interior walls and open up the living space

Stable cash flow of affordable properties is very attractive

42% increase in multifamily transaction volume

“It may as well be called the ‘lease for life’ bill because it would render the most basic provisions of rental apartment leases legally insignificant.

It would strip landlords of their ownership rights

Incentive is available for residential renovations and conversions

Beginning in 2024, new buildings in the city will go electric

Formerly incarcerated people are more likely to be homeless

The bill would have created a liability for owners and a worry for tenants

J-51 abatement and exemption program for the next six month

Committee votes to advance bill reviving tax break for multifamily repair

Law lifts the dollar values of state vouchers to 100 percent of the federal fair market level from 85 percent

Signs law raising renting power of homeless New Yorkers

Landlords would be able to evict tenants if they perpetrate violence

The bill, landlords would be blocked from running criminal record checks

Under what circumstances could my landlord kick me out?

How am I protected from eviction?

The city’s bill applies to all apartments, not just rent-stabilized ones.

Bill would prevent residential landlords from seeking early termination fees

Brokers: Erik Rodriguez of Rodriguez Commercial Realty

Recent commercial real estate transactions in New York

Emergency rental assistance will stop accepting new applications Sunday night

Gov. Hochul has asked for almost $1 billion in additional funding

Low-income renters who are more likely to receive federal housing assistance through public housing authorities or voucher program

Letter by CA, IL, NY officials, among others, asks HUD to stay proceedings on low-income tenants who applied for relief

Kathy Hochul signed legislation that punts the deadline for keeping or killing rent stabilization to July, more than four years later than the last survey release.

Gov. Hochul signed legislation delaying verdict until mid-2022

Yes, we need to pass good cause eviction

Tenants facing rent hikes of more than 3 percent or 1.5 percent of inflation — whichever is higher — would […]

The court ruled in favor of the tenants

After federal court said law may be unconstitutional, ruling on personal liability clauses could have broad implications

Landlords lost about 20 percent of their revenue from rent payments

Analysis shows loss in rent revenue largely superseded by drop in expenses

Shield renters from eviction if their landlord raised the rent

Tenant advocates see a national trend; researchers are more skeptical

Several projects, do not meet that profile at all

Potential OZ investors to come to us as opposed to going out and trying to find them?

Position that has the ability to sway land use decisions

Brooklyn borough president, showered with real estate money in campaign’s final months, will be city’s 110th mayor

Small property owners throughout the state having their personal lives

The Rent Stabilization Association (RSA) has filed an amended complaint

Win against tenants at a Bed-Stuy rental building

Tenants’ case accuses developer of illegally inflating rents in Bed-Stuy

Evolution Of Internet Search Engines

A Big Company Doesn’t Equal More Brokers

The subject property consists of 24 units

The building is built 60 ft x 79 ft and sits on a 60 ft x 100 ft lot zoned […]

Rent Guidelines Board would likely hike rates at its annual June vote

Prices hit 12-year high in first week of rent freeze

Tenants refused to apply for ERAP or vacated the apartment with outstanding arrears.

Funds are first-come, first-served

Landlord cannot be passed along to tenants

Existing buildings would have until 2026 to comply

Tenants owe more than $256,000

Tenants withholding rent until the landlord forgives the debt

Landlord would be subject to criminal charges, which in theory could mean a five-year prison sentence.

As nonpayment cases pile up, owners pursue money judgments in civil court

Paid out to more than 40,000 households.

As of September 22, the state has allocated $1.6 billion in federal funds

Nothing is certain but death and taxes, and property taxes are no exception.

Experts predict minimal impact on city revenue even as rising number of landlords fall behind

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

As many as six courtrooms will hear two to six cases per hour,

In-person appearances on tap as courts dismiss warnings of “sickness and death”

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.

Dismissed suits argued that the rent law is unconstitutional

Third lawsuit awaiting arguments in Second Circuit

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

Brooklyn has been more stable than that ritzier borough on the other side of the East River

Multifamily and industrial are doing particularly well; office and retail are showing resiliency too

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

Delays, glitches, and now payments off by thousands of dollars

Only $300 million of the state’s $2.7 billion fund has reached landlords

CRE investors may see a continued impact on their revenue stream.

Covid-19 pandemic has rattled the commercial real estate (CRE) sector

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

Justices rule Biden’s eviction ban unconstitutional

Justices rule Biden’s eviction ban unconstitutional

Judgment day is coming for New York tenants: Landlords, owed more than $3 billion in back rent, may once again be able to file evictions.

Without rent relief, property owners weigh whether to wait or sell

A middle of the road one-bedroom apartment in Manhattan at the beginning of the pandemic cost about $3,417

New York City rents have overtaken San Francisco as the most expensive in the US

Bank account of one Bronx landlord with over $1 million in arrears

Frustration with NY’s rental assistance program endures, but owners worry speaking out could impact their applications

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,”

At least 40 tenants have been evicted this year despite the state moratorium

Hundreds of new eviction cases were filed last week after a court ruling weakened the state moratorium

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

Avoid the overhead and stress associated with tenant turnover by focusing on retention.

If you’ve found great tenants who pay rent on time and respect your property

$2 billion rental assistance program aimed at helping tenants pay their landlords has given funds to fewer than 5 percent of applicants since its start in June.

Landlords could technically start filing suits immediately to evict tenants

The law does not relieve tenants of their obligation to pay rent or block lawsuits for unpaid rents.

A provision that instructed housing judges not to evict tenants who have been found to have suffered financial hardship.

Three weeks before protection ends, only 4% of aid has reached New Yorkers

Tenant applications for over $460 million in aid had been approved but were awaiting landlord participation

Tenants with rental arrears pay what they can when they have it

Without rent relief, property owners weigh whether to wait or sell

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

Recent commercial real estate transactions in New York.

Built in 1931, this 8,600-square-foot, four-story building in Flatbush has six three-bedroom apartments and a vacant ground floor classified as […]

Income not keeping up with expenses

Multifamily building sales from 2017 through the second quarter of 2021 show new listings for properties in Brooklyn jumped as […]

But it’s been a long time coming, and many landlords aren’t happy

When it expires, renters will have to start paying again, or risk eviction and court

Many individuals often overlook is tax liabilities

If you’re new to real estate investing, it’s likely you’re reading every book and article on the topic

Her tenants curse and spit at her and owe more than $23,000 in rent

Eviction moratorium keeps them from being kicked out

Number of listings on the market had risen 279 percent compared to this time last year.

Brooklyn, the median rental price was down 11.3 percent — to $2,700 — compared to June of 2020

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.

First six months of the lease but may increase it by 1.5% for the next six months.

On two-year leases, landlords may increase rent up to 2.5%.

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

Recovery has been faster than many expected

Guests from the banking industry note that while the process is just beginning

Depending on your tenants’ income, they may be eligible for rent relief through the Emergency Rental Assistance Program

A new rent assistance fund began accepting applications this month

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

Landlords are making a last-ditch argument that helping tenants in need is the job of the government

The overall jump in expenses: 15%.

After a year of record price declines, lease signings are up and landlords are pulling back on rent concessions

After months of record price cuts and concessions, New York City’s rental market appears to be turning the corner

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

Brokers were feeling 56 percent more confident in New York City’s real estate market in the first quarter of this year.

Overall, broker confidence reached a 6.6 out of 10, which was a 79%.

Renters are seeking more space than they might have prior to the pandemi

Some listings are receiving multiple applications within 24 hours of hitting the market

Investors describe New York's market as fragmented; institutional investors are coming back.

Rentals are now moving, there’s a pent-up demand, buyers are coming up to seller’s price.

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

Landlords have increasingly opted to not rent their units at all, in the hopes that the market will soon shift and they will be able to charge the rents they want.

It’s not against the law for landlords to keep apartments vacant

The light at the end of the tunnel may be in sight for the U.S. economy.

“Strong economic growth, some indication that the pandemic coming under control, and continually supportive government policy all suggest broad positive […]

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.

Benefits include up to 12 months of rental arrears

New York’s rent relief site goes live — without applications New site has information on rental relief program

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

Down 75% compared from the same period last year, and down 67% from the fourth quarter of 2020

In Q1, sales totaled $1.84B

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.

Rents fell by 10% year-over-year, the largest annual decline in Brooklyn has ever experienced

The market reached a new milestone in the first quarter of 2021, as NYC rents hit record lows

Falling rents mean holders of the federal vouchers have more opportunity to live in convenient locations or in units with more space and amenities.

Eligible units are still outnumbered by Section 8 recipients

Erik Rodriguez represented both parties for this transaction

Sold Price $1,180,000

On March 31, the CDC sent out a message: it was extending its moratorium on residential evictions until June 30, 2021

Small landlords in the NYC area to find out what this means for them.

Employees returning to offices would be most beneficial. Retail, luxury condos, and hotels may continue to be challenged but it's a time to be cautiously optimistic.

Discussing various real estate asset classes a year into the pandemic, guests see hopeful signs of increased activity in the […]

$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.

Brooklyn rental market is on the upswing, particularly when compared to where things were a year ago.

Prices rising one year after pandemic hit, but don’t call it a full recovery yet.

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.

HSTPA amended General Obligations Law (“GOL”) § 7-108 prohibit landlords from collecting more than one month of security or from taking any payment of future months’ rent

Landlords who charge more than one month’s rent for security at lease execution are taking a substantial risk.

The future for New York’s rental market, and for working at home, remains hard to predict.

During the pandemic, the difference between the median rent in the two boroughs nearly vanished.

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

The federal ban on evictions has been extended yet again, bringing relief to tens of millions of renters struggling to catch up.

Most residential tenants fill out a hardship declaration.

There are no easy options when it comes to collecting back rent these days, so landlords would be wise to […]

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

New York has paid out just $7 million out of $60 million available for struggling tenants

Barely 1% of tenants owing rent have received aid in second round

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

I thought landlords were bluffing when they said the new rent law would force them to leave some apartments vacant.

Tenants who received rent relief had landlords who declined to participate in the program.

Some of those property owners are turning down the funding that they’re eligible for

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 […]

Is this a sign that things are turning back to where they were pre-pandemic? Or does it show continued instability?

The shift in new lease signings seems to be happening quickly, especially for smaller units

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

Hardship fund for small landlords and homeowners

Thousands of small landlords who have had their finances fractured by a year of eviction moratoria

Eviction bans and the weakening of the rental market have made landlords less inclined to play hardball

Tenants owe landlords $57 billion. What happens when they don’t pay?

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

Small property owners are more likely than institutional landlords to own smaller, more affordable buildings

Mom-and-pop landlords say they’re being chased out of New York City

This bill does not purport to cancel rent, this bill pays the rent.

Newly amended legislation would distribute $1.3B in federal funds.

Rental activity that defined the Manhattan and Brooklyn markets at the end of 2020 has continued in the new year.

Large rent arrears mean owners are in default in majority Black neighborhoods.

Repeat of the foreclosure crisis with a disproportionate impact on Black and Hispanic landlords.

Monthly survey of 11.6M rental units showed slight uptick from January

That’s a slight uptick from last month, when 76.6% of renters made a payment by the first week of the […]

Guests discussed the renter's market, multi-families, and New York - not so politically friendly attitude toward real estate.

Guests are optimistic about 2021, expecting low growth in the first quarter, with gains in the second half.

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

Deals worldwide totaled $290 billion in the fourth quarter of 2020

US deal volume nearly doubled quarter-over-quarter; multifamily and industrial held strong

As dues enter into millions, lawsuits are flooding in

It’s been nearly a year since the start of the pandemic — and for some retailers, that means it’s been […]

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

Though some banks have backed away from lending to multifamily, some investors are finding a niche by giving struggling apartment owners high-interest financing.

The share of the riskiest apartment debt held by banks rose to 17%

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

Development sites, multi-family and industrial properties are also seeing traction, thanks to a pandemic-induced surge in internet sales

Cash-rich investors looking to use the slump to beef up their portfolios there’s plenty of pickings

Total dollar volume in the fourth quarter was $4.7 billion, up 18 percent from the third quarter total.

Overall dollar volume in Q4 was $4.7B

With investment sales down 66% - 2020 has been a difficult year. All - are looking forward to a better 2021!

Guests discuss a trend in investment sales to seek transactions outside of New York

Tax revenue from real estate is responsible for 53% of the city’s operating budget.

Sales volume in December was off 51% from a year ago, to $2 billion, even as transactions fell by a […]

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 […]

Calling on the city to freeze this year’s property tax assessments after the COVID pandemic wiped five percent off the value of its real estate.

The real estate industry generated more than half (53 percent) of the City’s total annual tax revenue in the last […]

Federal Stimulus Package effecting small businesses and individuals: tax extenders (tax credit extenders), short-lived, some permanent, taxes on 2020 PPP loans, and unrelated Covid matter

Any parts of the bill: loan forgiveness, eligibility, administration still require clarification

Brooklyn, the December median rent, including concessions, was $2,564, down 11.4% from a year ago

Landlords in December continued to offer discounts not seen since the Great Recession

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 […]

Some commercial landlords have agreed to payment plans or lease payments based on a percentage of tenants’ income

The ban on commercial evictions may continue through the spring, if Gov. Andrew Cuomo has his way.

Federal Reserve’s commitment to keep interest rates low until 2023, there may be a light at the end of the tunnel.

Rents are in freefall and the vacancy rate hit an all-time high of 5 percent.

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 […]

The median rent in November fell about 6 percent in Brooklyn and Queens, to $2,400 and $2,100, compared with the same period last year.

The pandemic devastated the housing industry this year, but there were a few flickers of life.

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

Orders to halt evictions in New York expire soon. What happens next?

“We have this big coalition of organizations that are working to put pressure on the landlords directly to reduce the […]

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

20.97% of tenants living in rent regulated apartments paid no rent for December, up from 17.56% in November.

The government needs to step up and provide rental assistance to renters who cannot afford to pay, and give housing […]

New York City rents have fallen more this year than they did during the Great Recession

Brooklyn, rents dropped 6.3% year over year, and the median asking rent was $2,400. After the 2008 financial crisis, rents […]

That’s when she realized the apartment had been listed for $2,583 per month, $720 less than the landlord had been asking them for.

Her landlord told her the rent was increasing from $3,250 to $3,300. Knowing that it was a renter’s market, Knibbs […]

This legislation creates a new type of temporary Certificate of Occupancy for buildings in our city

These new ICOs will not require renewals, cutting red tape for the construction industry while also providing peace of mind […]

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 […]

In Brooklyn, new leases signed last month were up nearly 28 percent, with 1,122 deals compared to last year’s 878.

The median net effective rent in Brooklyn was $2,619, down 8 percent from $2,855 a year ago. Inventory also remained […]

The funds were provided under the CARES Act and will be returned to the federal government if not spent by Dec. 30

$60M in funds will be returned to federal government if not used by Dec. 30 deadline

Alex Lewis, a master plumber at Stanley Lewis Plumbing and Heating in Crown Heights, said property owners were reaching out to him nonstop

Brooklyn landlords receiving notices from plumbers last month warning them they might be fined $10,000 by the city.

A federal judge swept away a legal challenge to a package of bills designed to protect retail tenants during the pandemic.

Lawsuit sought to overturn laws signed in response to the pandemic

HPD inspectors issued 95 vacate orders for illegal occupancy between March and October of this year.

Advocates say that the tenants living in an estimated tens of thousands of basement apartments represent some of the city’s […]

Housing advocates said that any evictions taking place right now signals that we should expect more, even with COVID cases rising.

Marshals recently carried out the first legal residential eviction in New York City since the start of the pandemi

Maybe not quite where he wants to get at 39 percent (top rate). But I do think you’re going to see a tax plan move in the first year.”

The thought process is, if you’ve got large capital gains, do you consider your options and recognize capital gains now, […]

The legislation rewrites the so-called 7A law and establishes a 60-day maximum on deadlines for property owners to make court-ordered repairs to their apartment property.

New York landlords will be required to speed up potentially dangerous repairs to their properties under a new law just […]

The package would include a hardship fund for small landlords that could enable cancellation of rent in the state.

A federal relief package benefiting New York may not happen until February

Banks are requiring higher down payments in order to get to a deal, in some cases up to 30 percent or more as they continue to tighten their lending practices.

With tighter restrictions it’s more important than ever to shop around for a mortgage.

New leases hit the highest October total in 12 years, rising 33.2 percent over October 2019

Renters returned to Manhattan and Brooklyn in October—in a big way. Months of falling rents and rising concessions—spurred by a […]

Despite an uptick in investment and residential sales over the last month, the drop-off in tax revenue from such deals this year has reached $1.4 billion.

REBNY report shows missing money has hit 10 figures

In one case, total insurance costs for a small owner (less than 150 units) more than doubled from $639 per unit to more than $1300 per unit in 2020. A larger owner (more than 500 units) also reported that their per unit costs jumped from $648 to more than $1000 in 2020.

Average insurance costs for the Bronx to be $720 per unit a year

Median rent dropped by 3%, and 27K apartments are available

Brooklyn saw a decline in both prices and inventory. The median rent fell 3% to $2,615 from $2,700 the month […]

Shady dealings in a building’s finances may be evident from strange payment patterns or payments being recorded as credits.

I suspect my property manager is corrupt. How can I find out if they’re taking kickbacks, and what should our […]

Landlord representatives decry continued lack of financial relief

The extension comes as a pause on Civil Court deadlines was about to run out — which would have opened […]

Property taxes account for more than 40% of NYC’s tax revenue

Property taxes account for more than 40 percent of the city’s tax revenues, with real estate taxes accounting for more […]

Legislation awaiting Cuomo’s signature would ban multiple extensions by judges

If signed into law, would force property owners to fix their building within the court-imposed time limit, or risk losing […]

A building can not be legally occupied. So if you are in a building that doesn’t have this document, except in some rare instances, you run the risk of the city issuing a vacate order

It states how a building can be used—and covers both the type of use the building is zoned for

The state’s Division of Homes and Community Renewal has turned down thousands of applicants

More than 57,000 New Yorkers who didn’t meet the program’s requirements did not receive aid from the agency

NYC largest multifamily lender said rent collections in its loan portfolio have returned to pre-pandemic levels and the vacancy rate less than 3%

NYCB execs say apartment vacancy rate is low; share price down 31 percent this year

There are plenty of rules and red tape associated with the 1031 exchange program. Read on for more details.

If it’s an investment property, rather than your primary residence, you can be taxed on your capital gains—i.e.,

Attorney General Letitia James, who announced agreements in the four cases involving the fraudulent use of the 421-a program

Four New York City developers have been fined over half-a-million dollars after trying to skirt rent regulations.

They allow landlords to start eviction proceedings now & don’t require them to tell tenants about the protections that are available.

CDC rules say such tenants can’t be physically removed from their homes before the end of the year.

Most years, investment increases about 9% from the 2nd quarter to the third.

After the pandemic dramatically slowed commercial real estate deals across the U.S., the summer saw an uncharacteristically high uptick — […]

Manhattan listings make up the bulk of NYC rentals on the market

The pandemic and subsequent shutdowns have dealt a serious blow to New York City landlords, sending vacancy rates soaring and […]

Rent payments are down 2% since 2019 but unchanged from September

The National Multifamily Housing Council’s monthly payment tracker, which collects data on collections in 11.4 million market-rate units, found that […]

if you are new to being a landlord, your checklist should include getting up to speed on the impact of the 2019 changes to the rent laws...

If you are new to being a landlord it’s worth going to extra lengths to find a financially qualified tenant.

16.41% of residential tenants paid no rent by the middle of October. This is an improvement from last month, 19.43% residential tenants paid no rent.

Without help from the government, more than 15 percent percent of landlords say they do not think they’ll be able […]

Violations of $1,500 to $3,000 per day, instead of the current fine of $500 to $1,000.

Public Advocate Jumaane Williams introduced new legislation mandating a new landlord “watchlist

Sales of commercial are down 45%+ this year through September, according to a report Thursday by the Real Estate Board of New York.

Sales in NYC are plummeting, and so is the tax revenue that’s generated with every transaction.

Litigation against tenants is way down since the passage of the HSTPA last year

It’s been 16 months since the new rent laws were passed. What has the impact been on NYC rent-stabilized and […]

Small property owners will take to the streets to demand action

Rents across the city continued their downward slide in September, and hundreds of frustrated landlords are feeling the crunch & […]

Evictions may resume in New York on Oct. 12, but with “important caveats,”...

In a memo released Oct. 9, Administrative Judge Lawrence Marks said that residential evictions — including those for non-payment of […]

Renters surveyed uncertain of ability to make rent, but industry rent data shows market-rate payments

Millions of renters believe they will be evicted from their homes in the next two months due to eviction, according […]

The recovery is tenuous, but renters are returning, buyers are getting deals, and those who stayed are finding a measure of vindication.

New Yorkers who left at the peak of the pandemic are starting to come back, lured by a range of […]

Bill faces headwinds from the Senate and White House

The first stimulus package, the $2.2 trillion CARES Act, passed with bipartisan support in March and helped stave off a […]

It’s “still full of loopholes,” as one lawyer put it

“It doesn’t stop evictions. It doesn’t stop cases from moving forward. It doesn’t stop landlords from filing cases…

Developers can say they are losing money, despite rising asset values

For residential rental properties, the depreciation period is 27.5 years and for non-residential it is 39 years, according to the […]

Trump Faces New Scrutiny Over Tax Returns

Personal assets remain off-limits to landlords

It applies to restaurants, bars, gyms, theaters, retailers subject to in-person restrictions, barbershops, hair salons, tattoo & piercing parlors.

Gov. Andrew Cuomo signed an executive order extending the Tenant Safe Harbor Act until Jan. 1, 2021.

The law prohibited courts from issuing eviction warrants for unpaid rent that was due from the beginning of the crisis […]

Several rent-stabilized apartments sitting vacant, with no plans to renovate them Last year’s legislative changes have her rethinking the future.

Landlords explain why even affordable units are empty

Project Parachute says philanthropies have added $3M to help New Yorkers facing eviction

Donors have added $3 million to a landlord-backed initiative begun in May to help some of the neediest New Yorkers […]

Lawyers representing tenants will be a party to all 5 cases, although landlords had argued for their exclusion

To the dismay of landlords, tenants now have a seat at the table in the legal challenges to New York’s […]

Retail & apartment vacancies rising & rents falling, & employers cutting...

Before the pandemic emptied the city, few lenders benefited from the heady local real estate market…

What's Really Happening in the NYC Residential Market?

New York’s residential markets to a crisis: a decline in rents, largely in affordable multi-families with work-force tenants…

The moratorium was set to expire Sept. 30, but the governor signed a new executive order

New York’s moratorium on commercial foreclosures and evictions will be in place until at least Oct. 20, Cuomo announced on […]

What happens when local and federal eviction bans lapse?

Many renters don’t even know CDC eviction protection is an option for them.

Fed plans to keep interest rates low for the next few years, and will continue buying mortgage-backed securities

Fed signaled that short-term interest rate will remain at 0 to 0.25 percent, and projections are, rates will remain near […]

Missed mortgage payments during the period totaled about $16B

Almost 11 million households were behind on rent or mortgage payments during the first three months of the pandemic.

Data from Princeton University’s Eviction Lab shows that filings dropped in 16 cities during the second week of the month

Princeton University’s Eviction Lab finds drop in 16 cities

The average rate for a 30-year fixed-rate mortgage dropped .07 percentage points for the week ending Sept. 10

The rates for a 30-year fixed-rate mortgage dropped 7 percentage points for the week ending September 10, reaching 2.86 percent.

Yes, some buyers are leaving Manhattan. But others are doubling down on Brooklyn.

Construction continues around the City Point complex in Downtown Brooklyn, one of the most active neighborhoods for new condo sales […]

The pandemic hit hardest in areas already bearing the brunt of the city’s affordability crisis.

As the rate of new COVID-19 cases has slowed in New York City, relief from the city’s high rents has […]

Many apartment landlords across the U.S. maintain that tenants are paying rent...

Some multifamily owners have pegged occupancy rates at 90%, but a key index that tracks publicly traded landlords has fallen […]

Friday for at least three weeks — and both state and city officials are taking credit for giving homeowners and landlords a break.

Cuomo, de Blasio both announce that they postponed sale…

Here’s a running list of COVID-19 protections for renters and owners in NYC and NJ

As COVID-19 transforms New York City, public health orders at the city, state, and federal levels have been put in […]

Renters receive more relief, but there’s a looming problem for landlords, especially those who own just a few properties.

Eviction crisis has seemed increasingly likely this summer…

In the order, the CDC says COVID-19 “presents a historic threat to public health”

New York’s rental housing providers have rounded on the Trump Administration after it introduced a new moratorium on…

Washington allows for some evictions and could also call state and local legislation into question

Washington’s new eviction ban shocked landlords and tenants when it came not from the agencies that oversee housing…

No-fee listings in Manhattan and Brooklyn are increasing, as the city sees an exodus of residents

No-fee listings made up 75 to 85 percent of all listings in Manhattan and Brooklyn in August, the New York…