In a move sure to give landlords and brokers serious agita, Governor Cuomo has come out in favor of strengthening existing rent regulations for New York City’s approximately 1 million stabilized apartments. David Freedlander over at PolitickerNY has all the initial details:
Leaning on his time as HUD secretary during the Clinton administration, Cuomo called affordable housing Read More
The Rent Guidelines Control Board approved its preliminary rent increases suggestions last night, proposing the highest hikes in years. One-year leases could rise 3 percent to 5.75 percent while two-year deals are staring down a jump between 6 percent and 9 percent.
But what has really inflamed tenants and even some landlords is a first-ever Read More
New York’s recovery from the worst economic crisis since the Great Depression has been slow. Though monthly job growth has been positive, unemployment is about 30 percent for the city’s construction industry. A more robust recovery with meaningful job growth will require more private sector capital investment. This capital investment is stalled due to uncertainty Read More
Rent-stabilized tenants have fought for nearly two years to prevent landlords from raising their rents by $45. But today the state’s highest court has ruled against them, in a decision that will affect more than 300,000 apartments in the city with rents under $1,000.
Splitting 5-2, the New York State Court of Appeals overturned lower Read More
Caught on Tape
With the governor taking a hard line on budget negotiations, no one would accuse Andrew Cuomo of being a wimp these days, least of all the real estate industry:
“If any of you know the history of the Cuomo family, it’s either my way or I’m going to screw you,” said Joseph Strasburg, head of Read More
Grinding the Sausage
With the deadline to pass a state budget basically a week away, Governor Andrew Cuomo has backed down on passing two controversial changes to New York’s real estate laws. He said at a press conference in Albany yesterday that rent-regulation changes and a property tax cap are “too complex” to put in the budget.
In a Read More
With elected officials insisting that they’re serious about bringing change to city and state government, may we suggest that reform isn’t simply a matter of changing a few election laws or putting the brakes on wasteful spending. Some laws need fixing, and some laws need to be left alone.
Take the significant matter of housing, Read More
Big Real Estate
Rent-regulation reformers could be poised for their first victory in decades.
Ninety-one state lawmakers wrote a letter to the governor this week, calling on him to include what proponents call rent-regulation reform in the budget due March 31. In a surprising turn, the governor agreed. He said at a March 17 press conference that he now Read More
New York’s rent regulation laws are set to expire June 15, which affects over a million apartments in New York City. As the politically charged debate in Albany heats up, Assembly Speaker Sheldon Silver has released a report with the snazzy title “The New Housing Emergency.”
The Assembly’s report seems primarily designed to create Read More
Last Thursday, Feb. 24, while journalists craned their recorders like goslings waiting to be fed, Democratic Senator Adriano Espaillat of the Bronx and Northern Manhattan gave the assembled tenant activists what they wanted.
“We will go down to the wire,” he said after the rally. “This is a 15-round fight.” Professional boxing matches are now Read More