85,000 voucher holders in a city of roughly 5.4 million renters
Over 100 applications were submitted in the first two hours that the portal was open
Activists jumped on stage, but Supreme Court could steal the show
“Worst Landlord Law” aims to shame owners who falsely certify fixing infractions
CHIP’s Jay Martin calls withdrawals “not really that big of a deal”
Middle-ground proposal immediately panned by both landlord, tenant advocates
Owners’ last, best shot to end rent stabilization in New York
Rent Guidelines Board report proposes up to 8.5% bump as landlords’ costs balloon
Landlord groups say $25K-per-unit pilot program falls short
Real Estate Board of New York has estimated that without such an extension, some 32,000 planned apartments would not be […]
Hochul also pitched extending the deadline to qualify for an expired tax abatement known as 421a if developers can complete […]
Landlords want higher-than-average increases for NYC’s one million rent-stabilized tenants
Imposing rent controls on the city’s 1.4 million market-rate apartments for the first time
Would impose rent controls on market-rate buildings in the five boroughs
Plaintiffs plan to petition the Supreme Court next
Apartments must still be rent-regulated while the landlord gets the benefit, and in many cases beyond that
ERAP protections, housing court issues stymying landlord action
Small landlords, the impact can be disastrous
More than 400 buildings in the borough were slated for a wrecking ball last year
CHIP poll shows where landlords are cutting corners
Commercial Real Estate is nearly $9B short of its most recent high
A new NYC law requires hosts to register their short-term rentals
Some developers are forging ahead
Rent may be falling quickly, but any drop is unlikely to impact inflation measurements until next year because of a […]
Deregulation severely limited by 2019 law, but may have happened anyway
Manhattan’s struggling retail scene seems to get all the attention.
Be cautious! developers and bankers agree when considering development
Take away from the real estate data as we head into 2023
A controversial bill prohibiting Big Apple landlords from performing criminal background checks on prospective tenants
Rising interest rates tank property sales
Deals for multifamily properties totaled $3.63 billion, down 30 percent from the previous quarter
Borrowing costs, falling rent growth kill deals as sellers refuse to drop prices
Advocates are sounding the alarm about the growing number of empty rent-stabilized apartments
Mortgage rates could climb another 1.5 percentage points, according to a leading economist
Firms sell landlords information that is often wrong, misleading or irrelevant
Mom-and-pop owners protest failures of state’s rent relief
Washington reallocates $100M to New York
Federal Reserve keeps raising benchmark interest rates in an effort to tamp down inflation
City Council on Thursday passed a bill to ramp up reporting requirements for vacant retail space
Federal Reserve expects interest rates to remain elevated for years to come
3.25% pencils out to a pittance
Landlords warehousing apartments in order to combine neighboring units and increase rents
Comptroller proposes similar program to temporarily legalize basement, cellar units
As part of the deal, they must reset rents to legal rates, refund tenants the difference, and once again offer […]
More-affordable neighborhoods in Brooklyn and Queens see jump in interest during the apartment market’s peak season
If you don’t plan for the sale of real estate then you risk a big capital gain tax bill.
Again, this hurts tenants as well as landlords.
70,000-case backlog pushes landlords to the breaking point
That means upward pressure on longer-term rates, cap rates and borrowing costs by extension
Contract signings were down 30 percent year over year last month
Landlords blame the state’s rent law for making repairs a money-losing proposition; lawmakers don’t believe them
In Brooklyn, the average rents increased in 15 of the 16 neighborhoods it tracks
The bill’s failure was a blow for groups like Housing Justice For All, which has rallied relentlessly to pressure the […]
Brooklyn as median rents with concessions notched a new high of $3,206
Elyssa Marcus Vice President, Asset Management & Development, Jamestown LP Joel R. Marcus Partner, Marcus & Pollack LLP David Shorenstein […]
Sales of multifamily assets have been hot in the past year, but rising interest rates are now putting investors into […]
2% and 4% for one-year leases and 4% to 6% for two-year lease
Process more eviction cases than any other city in the nation
Inflation is at its highest in four decades
Some Democrats are calling proposed increases for NYC roughly one million rent-stabilized apartments
After listening you will clearly understand why passage of this Bill will be GOOD for nothing!
Two weeks after the Rent Guidelines Board’s staff floated rent hikes of up to 4.5 percent on one-year leases for […]
Many who can’t afford steep increases are migrating to other parts of the city.
Landlords’ costs jumped across the board from April 2021 to March 2022 except for property taxes, which dropped 3.7% because […]
Lawmakers need to get back to the drawing board, but they need not reinvent the wheel
ERAP gets $800 million
Court system agreed to adjourn cases by up to three weeks and use that time to match tenants with an […]
Eviction filings are actually lower than pre-pandemic levels
The law’s benefits exempt any increase in taxes attributed to constructed improvements to the property
Profits plunged as rental income declined 3.8 percent year-over-year
Federal Reserve raised interest rates for the first time since 2018
Federal allocation is 7% of what state requested
Experts say the unions’ push could draw lawmakers’ attention to the good cause campaign
Brooklyn saw increases in rents and declines in inventory
Utility costs have spiked in recent months, but the war is unlikely to make things worse
While rents plunged at the start of the pandemic, they are now surging, and the increase is double the national […]
Landlords argue that the rent-regulation system violates their constitutional property right
“Good Cause Eviction” bill will strictly limit rent increases and evictions on New York City renters.
NYC rents were the highest in the nation
Overall, all properties in the city were valued at $1.4 trillion, 2.1 percent above pre-pandemic levels
Landlords argue 2019 reform amounted to taking of property
Development parcels also traded hands, while industrial sales took the week off
Tenants leasing apartments sight unseen and months in advance
Took the money and still evicted the tenants
Mayor also supports governor’s 421a replacement program
The 40-year-old state law that created the system was built to favor single-family homeowners over renters or commercial buildings.
Will expire on June 15, 2022, and is not expected to be renewed
New mayor to tackle, including quality-of-life issues, faster permitting and zoning changes
Backlog of tenant-landlord cases opens to confusion among courts
Multifamily assets boosted the market to levels not seen since 2018
Multifamily and industrial sales led sectors with $335.3B and $166B, respectively
Tax rebate for homeowners, increasing the allowable number of accessory dwelling units (ADU)
Relief needs approval by the state legislature and would take months
Take down interior walls and open up the living space
42% increase in multifamily transaction volume
It would strip landlords of their ownership rights
Beginning in 2024, new buildings in the city will go electric
The bill would have created a liability for owners and a worry for tenants
Committee votes to advance bill reviving tax break for multifamily repair
Signs law raising renting power of homeless New Yorkers
The bill, landlords would be blocked from running criminal record checks
How am I protected from eviction?
Bill would prevent residential landlords from seeking early termination fees
Recent commercial real estate transactions in New York
Gov. Hochul has asked for almost $1 billion in additional funding
Letter by CA, IL, NY officials, among others, asks HUD to stay proceedings on low-income tenants who applied for relief
Gov. Hochul signed legislation delaying verdict until mid-2022
Tenants facing rent hikes of more than 3 percent or 1.5 percent of inflation — whichever is higher — would […]
After federal court said law may be unconstitutional, ruling on personal liability clauses could have broad implications
Analysis shows loss in rent revenue largely superseded by drop in expenses
Tenant advocates see a national trend; researchers are more skeptical
Potential OZ investors to come to us as opposed to going out and trying to find them?
Brooklyn borough president, showered with real estate money in campaign’s final months, will be city’s 110th mayor
The Rent Stabilization Association (RSA) has filed an amended complaint
Tenants’ case accuses developer of illegally inflating rents in Bed-Stuy
A Big Company Doesn’t Equal More Brokers
The building is built 60 ft x 79 ft and sits on a 60 ft x 100 ft lot zoned […]
Prices hit 12-year high in first week of rent freeze
Funds are first-come, first-served
Existing buildings would have until 2026 to comply
Tenants withholding rent until the landlord forgives the debt
As nonpayment cases pile up, owners pursue money judgments in civil court
As of September 22, the state has allocated $1.6 billion in federal funds
Experts predict minimal impact on city revenue even as rising number of landlords fall behind
Universal access would expand aid to four times more households
In-person appearances on tap as courts dismiss warnings of “sickness and death”
Enacting Commercial Rent Stabilization will significantly damage New York City’s economy and impair the viability of conducting business in NYC.
Third lawsuit awaiting arguments in Second Circuit
Gov. Kathy Hochul touts $1.2B set aside for landlords, with $399M paid out
Multifamily and industrial are doing particularly well; office and retail are showing resiliency too
Hochul has the experience and bold ideas to navigate the serious threats facing New York
Developers wished Adams defended more vigorously projects he supported
Only $300 million of the state’s $2.7 billion fund has reached landlords
Covid-19 pandemic has rattled the commercial real estate (CRE) sector
State legislature passed an extension on the state’s eviction moratorium
Draft legislation does not make tenants produce evidence of hardship
Justices rule Biden’s eviction ban unconstitutional
Without rent relief, property owners weigh whether to wait or sell
New York City rents have overtaken San Francisco as the most expensive in the US
Frustration with NY’s rental assistance program endures, but owners worry speaking out could impact their applications
“I am not at all satisfied with the pace that this COVID relief is getting out the door,”
Hundreds of new eviction cases were filed last week after a court ruling weakened the state moratorium
Billions of dollars have yet to be distributed by the state to help renters and landlords
If you’ve found great tenants who pay rent on time and respect your property
Landlords could technically start filing suits immediately to evict tenants
A provision that instructed housing judges not to evict tenants who have been found to have suffered financial hardship.
Tenant applications for over $460 million in aid had been approved but were awaiting landlord participation
Without rent relief, property owners weigh whether to wait or sell
Issues crucial to industry on deck for incoming governor
Local logjams have meant just $3B of $47B has been sent to tenants, landlords
Key items you should be aware of if your business is in the real estate industry
Collections, vacancy and rent are at, or above, pre-pandemic levels and investors are all in
One Shot Deal funds $150M in rent arrears each year; a progressive think tank wants Eric Adams to double that
State has distributed just $117K in rent relief from $2.7B pot, with 160K applications filed
Tenants can’t be evicted for nonpayment of rent in cases where an “unreasonable” increase in rent occurred
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 […]
Multifamily building sales from 2017 through the second quarter of 2021 show new listings for properties in Brooklyn jumped as […]
When it expires, renters will have to start paying again, or risk eviction and court
If you’re new to real estate investing, it’s likely you’re reading every book and article on the topic
Eviction moratorium keeps them from being kicked out
Brooklyn, the median rental price was down 11.3 percent — to $2,700 — compared to June of 2020
The Brooklyn borough president emerged as a palatable choice for developers and brokers
Split-court ruling means landlords must endure for at least another month
Biden’s newly released Green Book provides further detail surrounding his tax proposals.
This section of the tax code has benefited investors large and small for 100 years.
On two-year leases, landlords may increase rent up to 2.5%.
Of the three likeliest winners, two — Eric Adams and Kathryn Garcia — have signaled they’re pro-development
Guests from the banking industry note that while the process is just beginning
A new rent assistance fund began accepting applications this month
Capital gains above $1 million from top bracket rate of 43.4% in New York State and city taxes are added, […]
Federal moratorium set to end June 30; but tenant advocates maintain wave of evictions will follow
The overall jump in expenses: 15%.
After months of record price cuts and concessions, New York City’s rental market appears to be turning the corner
Program to subsidize renovations expired a year ago
Differences emerge on industry donations, housing policy, taxes
Overall, broker confidence reached a 6.6 out of 10, which was a 79%.
Some listings are receiving multiple applications within 24 hours of hitting the market
Rentals are now moving, there’s a pent-up demand, buyers are coming up to seller’s price.
Bill would increase subsidies for homeless New Yorkers to federal levels
It’s not against the law for landlords to keep apartments vacant
“Strong economic growth, some indication that the pandemic coming under control, and continually supportive government policy all suggest broad positive […]
Program will allocate $2.7B to tenants, landlords hit hard by pandemic
Five separate suits challenging the law’s constitutionality are still taking up space on court dockets.
New York’s rent relief site goes live — without applications New site has information on rental relief program
Post-2019 change, 51% of tenants must buy into conversion plans
Mayor signs bill giving representation to all low-income renters facing eviction
State must offer funds directly to tenants if landlords choose not to participate in the program
New York landlords and tenants will gain access to $2.3 billion in federal aid allocated by the state.
Frustrated landlords demand Albany get rent aid out the door
Uncertainty surrounding capital gains tax break lingers
Real estate groups say lack of representation is par for the course
In Q1, sales totaled $1.84B
Property owners testified at Rent Guidelines Board’s Thursday meeting
Tenants would have one-time option to extend leases up to a year
The extender bill is expected to go to a full vote in the Senate and Assembly later this week.
Make that more than 55% if you live in New York or California.
The market reached a new milestone in the first quarter of 2021, as NYC rents hit record lows
Eligible units are still outnumbered by Section 8 recipients
Sold Price $1,180,000
Small landlords in the NYC area to find out what this means for them.
Discussing various real estate asset classes a year into the pandemic, guests see hopeful signs of increased activity in the […]
More than $2 billion in federal and state rent relief, but also tax hikes exceeding $4.3 billion.
Prices rising one year after pandemic hit, but don’t call it a full recovery yet.
Newly bill, would bar evictions and rent increases for one year in cases where landlords accept aid.
Landlords who charge more than one month’s rent for security at lease execution are taking a substantial risk.
During the pandemic, the difference between the median rent in the two boroughs nearly vanished.
Albany finally have the big bucks to pass a substantial relief program as part of the state budget
There are no easy options when it comes to collecting back rent these days, so landlords would be wise to […]
Second Round of Rent Relief Reached Even Fewer People Than First
Barely 1% of tenants owing rent have received aid in second round
Senate and Assembly released their one-house budget resolutions, providing a snapshot of each chamber’s priorities
Some of those property owners are turning down the funding that they’re eligible for
Judge says landlords have no constitutional right to “unregulated market”
The state legislature is set to extend the eviction moratorium on small businesses and landlords with fewer than 10 apartment […]
The shift in new lease signings seems to be happening quickly, especially for smaller units
$23.5 billion will be allocated for New York.
Blanket moratorium on evictions is unconstitutional.
Differences emerge on industry donations, housing policy, taxes
Thousands of small landlords who have had their finances fractured by a year of eviction moratoria
Tenants owe landlords $57 billion. What happens when they don’t pay?
Commercial real estate investors that can be accessed through state and local governments
Assembly members also want rent debt forgiveness for tenants
Mom-and-pop landlords say they’re being chased out of New York City
Newly amended legislation would distribute $1.3B in federal funds.
Repeat of the foreclosure crisis with a disproportionate impact on Black and Hispanic landlords.
That’s a slight uptick from last month, when 76.6% of renters made a payment by the first week of the […]
Guests are optimistic about 2021, expecting low growth in the first quarter, with gains in the second half.
Measure on accessory dwelling units comes with rent control
US deal volume nearly doubled quarter-over-quarter; multifamily and industrial held strong
It’s been nearly a year since the start of the pandemic — and for some retailers, that means it’s been […]
Rising liability insurance costs, and delays in city approvals that are making it increasingly challenging to break even financially.
Real estate leaders support Biden’s plan for $25 billion in rental assistance
Commercial eviction ban | Office and hotel conversions | Emission cap workaround | Tax and disclosure changes | Infrastructure
The share of the riskiest apartment debt held by banks rose to 17%
Ban evictions of businesses with fewer than 50 employees until May 1
We look forward to restoring property rights to thousands of property owners
Cash-rich investors looking to use the slump to beef up their portfolios there’s plenty of pickings
Overall dollar volume in Q4 was $4.7B
Guests discuss a trend in investment sales to seek transactions outside of New York
Sales volume in December was off 51% from a year ago, to $2 billion, even as transactions fell by a […]
Biden is expected to move quickly to extend protections for renters, Bloomberg reported, and may sign an executive order within […]
The real estate industry generated more than half (53 percent) of the City’s total annual tax revenue in the last […]
Any parts of the bill: loan forgiveness, eligibility, administration still require clarification
Landlords in December continued to offer discounts not seen since the Great Recession
If a tenant files a Hardship Declaration with an Owner, the Owner cannot bring an eviction proceeding before May 1, […]
Plan to rebuild the economy also included legalizing adult-use cannabis and online sports betting tax to help plug a $15 […]
The ban on commercial evictions may continue through the spring, if Gov. Andrew Cuomo has his way.
Rents are in freefall and the vacancy rate hit an all-time high of 5 percent.
Cuomo had previously said he intended to extend existing legislation limiting evictions, portions of which were to expire at the […]
The pandemic devastated the housing industry this year, but there were a few flickers of life.
Move comes hours after governor says current regime will be extended
“We have this big coalition of organizations that are working to put pressure on the landlords directly to reduce the […]
Landlord groups say it’s a good start, but not enough
Holes in the federal aid package will hurt the industry starting next year
The government needs to step up and provide rental assistance to renters who cannot afford to pay, and give housing […]
Brooklyn, rents dropped 6.3% year over year, and the median asking rent was $2,400. After the 2008 financial crisis, rents […]
Her landlord told her the rent was increasing from $3,250 to $3,300. Knowing that it was a renter’s market, Knibbs […]
These new ICOs will not require renewals, cutting red tape for the construction industry while also providing peace of mind […]
Since the mid-terms, Democrats have held the majority of seats but a supermajority allows Democrats to override any veto from […]
A coalition of housing groups releases a blueprint that includes rezoning affluent neighborhoods, legalizing basement apartments and turning hotels into […]
The median net effective rent in Brooklyn was $2,619, down 8 percent from $2,855 a year ago. Inventory also remained […]
$60M in funds will be returned to federal government if not used by Dec. 30 deadline
Brooklyn landlords receiving notices from plumbers last month warning them they might be fined $10,000 by the city.
Lawsuit sought to overturn laws signed in response to the pandemic
Advocates say that the tenants living in an estimated tens of thousands of basement apartments represent some of the city’s […]
Marshals recently carried out the first legal residential eviction in New York City since the start of the pandemi
The thought process is, if you’ve got large capital gains, do you consider your options and recognize capital gains now, […]
New York landlords will be required to speed up potentially dangerous repairs to their properties under a new law just […]
A federal relief package benefiting New York may not happen until February
With tighter restrictions it’s more important than ever to shop around for a mortgage.
Renters returned to Manhattan and Brooklyn in October—in a big way. Months of falling rents and rising concessions—spurred by a […]
REBNY report shows missing money has hit 10 figures
Average insurance costs for the Bronx to be $720 per unit a year
Brooklyn saw a decline in both prices and inventory. The median rent fell 3% to $2,615 from $2,700 the month […]
I suspect my property manager is corrupt. How can I find out if they’re taking kickbacks, and what should our […]
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 percent of the city’s tax revenues, with real estate taxes accounting for more […]
If signed into law, would force property owners to fix their building within the court-imposed time limit, or risk losing […]
It states how a building can be used—and covers both the type of use the building is zoned for
More than 57,000 New Yorkers who didn’t meet the program’s requirements did not receive aid from the agency
NYCB execs say apartment vacancy rate is low; share price down 31 percent this year
If it’s an investment property, rather than your primary residence, you can be taxed on your capital gains—i.e.,
Four New York City developers have been fined over half-a-million dollars after trying to skirt rent regulations.
CDC rules say such tenants can’t be physically removed from their homes before the end of the year.
After the pandemic dramatically slowed commercial real estate deals across the U.S., the summer saw an uncharacteristically high uptick — […]
The pandemic and subsequent shutdowns have dealt a serious blow to New York City landlords, sending vacancy rates soaring and […]
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 it’s worth going to extra lengths to find a financially qualified tenant.
Without help from the government, more than 15 percent percent of landlords say they do not think they’ll be able […]
Public Advocate Jumaane Williams introduced new legislation mandating a new landlord “watchlist
Sales in NYC are plummeting, and so is the tax revenue that’s generated with every transaction.
It’s been 16 months since the new rent laws were passed. What has the impact been on NYC rent-stabilized and […]
Rents across the city continued their downward slide in September, and hundreds of frustrated landlords are feeling the crunch & […]
In a memo released Oct. 9, Administrative Judge Lawrence Marks said that residential evictions — including those for non-payment of […]
Millions of renters believe they will be evicted from their homes in the next two months due to eviction, according […]
New Yorkers who left at the peak of the pandemic are starting to come back, lured by a range of […]
The first stimulus package, the $2.2 trillion CARES Act, passed with bipartisan support in March and helped stave off a […]
“It doesn’t stop evictions. It doesn’t stop cases from moving forward. It doesn’t stop landlords from filing cases…
For residential rental properties, the depreciation period is 27.5 years and for non-residential it is 39 years, according to the […]
It applies to restaurants, bars, gyms, theaters, retailers subject to in-person restrictions, barbershops, hair salons, tattoo & piercing parlors.
The law prohibited courts from issuing eviction warrants for unpaid rent that was due from the beginning of the crisis […]
Landlords explain why even affordable units are empty
Donors have added $3 million to a landlord-backed initiative begun in May to help some of the neediest New Yorkers […]
To the dismay of landlords, tenants now have a seat at the table in the legal challenges to New York’s […]
Before the pandemic emptied the city, few lenders benefited from the heady local real estate market…
New York’s residential markets to a crisis: a decline in rents, largely in affordable multi-families with work-force tenants…
New York’s moratorium on commercial foreclosures and evictions will be in place until at least Oct. 20, Cuomo announced on […]
Many renters don’t even know CDC eviction protection is an option for them.
Fed signaled that short-term interest rate will remain at 0 to 0.25 percent, and projections are, rates will remain near […]
Almost 11 million households were behind on rent or mortgage payments during the first three months of the pandemic.
Princeton University’s Eviction Lab finds drop in 16 cities
The rates for a 30-year fixed-rate mortgage dropped 7 percentage points for the week ending September 10, reaching 2.86 percent.
Construction continues around the City Point complex in Downtown Brooklyn, one of the most active neighborhoods for new condo sales […]
As the rate of new COVID-19 cases has slowed in New York City, relief from the city’s high rents has […]
Some multifamily owners have pegged occupancy rates at 90%, but a key index that tracks publicly traded landlords has fallen […]
Cuomo, de Blasio both announce that they postponed sale…
As COVID-19 transforms New York City, public health orders at the city, state, and federal levels have been put in […]
Eviction crisis has seemed increasingly likely this summer…
New York’s rental housing providers have rounded on the Trump Administration after it introduced a new moratorium on…
Washington’s new eviction ban shocked landlords and tenants when it came not from the agencies that oversee housing…
No-fee listings made up 75 to 85 percent of all listings in Manhattan and Brooklyn in August, the New York…