Today marks a day of rejoicing for residents living in one of the city’s many rent-regulated apartments. Break out the Andre!
The Supreme Court has declined to hear a challenge to rent control brought by former federal prosecutor James D. Harmon Jr., the owner of a five-story townhouse on West 76th Street. Mr. Harmon, who grew up in the brownstone and now lives there with his wife Jeanne, inherited the building and its three rent-controlled tenants from his grandfather. The building also has three market-rate tenants.
In a city of renters, where the approximately 47% percent of the city’s 2.2 million rental units are subject to rent control or rent stabilization laws, the Harmon case touched New Yorkers’ notoriously hard-to-reach hearts. The case’s potential to radically upset New York City housing policy, as well as rent regulation laws across the country, left those on both sides of issue anxiously awaiting the court’s decision.
The Supreme Court has declined to hear the challenge to rent control brought by former federal prosecutor James D. Harmon Jr., the owner of a five-story townhouse on West 76th Street.
Mr. Harmon, who grew up in the brownstone and now lives there with his wife Jeanne, inherited the building and its three rent-controlled tenants Read More
While the recent extension of New York’s rent-regulation system came as no surprise to the vast majority of participants in our multifamily market, the results were still disappointing and have left many owners concerned that if this is the result obtained with a Republican-controlled Senate, what would occur with Democrats in power? Yes, the renewal terms could have been much worse, but that doesn’t diminish the negative implications this has on our housing market.
Let’s take a look at the terms of Chapter 97 of the Laws of 2011 and their potential impact.
Food and shelter are two of life’s basic necessities. For those who need assistance feeding themselves, the Food Stamp Program is available. This program issues monthly benefits that can be used to purchase food at authorized retail food stores. Food stamp benefits help low-income working people, seniors, the disabled and others feed their Read More
City Councilman Jumaane Williams slammed both the Bloomberg and Cuomo administrations at a rally for rent regulations today at City Hall, saying that those in power do not care about the middle-class or the poor.
“What they’re saying is that they don’t want to tax the rich people, but they’ll tax the middle class and Read More