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…