There’s no doubt New York is an expensive city. We’ve all heard of young renters working hard and struggling to make ends meet, but it turns out these struggles aren’t limited to people in their 20s. It’s becoming common for people in their 30s or 40s…
Affordability is one of the biggest issues facing renters in New York. No matter your economic situation, finding affordable housing can be a challenge with rising rents leading to displacement across the city. The Association for Neighborhood and Housing Development (ANHD) tracks displacement across New York and…
You make updates and renovations to your New York City property. Then you slap your tenants with appreciably higher rents. That’s not the way that New York City’s J-51 tax abatement program is intended to work. Rather, the tax breaks passed along to participating landlords…
Data exist to mark and lend understanding of the turnover rate in the legions of rent-stabilized buildings across New York City. When one complex features notably higher-than-average departures, it can be telling evidence of unusual — even abnormal – circumstances. Consider the story surrounding the…
We recently noted for readers the results of the June 26 vote taken by the New York City Rent Guidelines Board on rent-stabilized lease increases. The RGB decided to raise rents 1.5% and 2.5%, respectively, on one-year and two-year lease terms effective October 1 of…
The definitive decision annually reached by the New York City Rent Guidelines Board on rent-stabilized lease increases was announced on June 26. It hardly went unnoticed. An amped-up and passionate response to the RGB’s dictate was indeed expected, for numerous reasons. A whopping 44% of…
A recent in-depth article on rent-stabilized housing in New York City and disputes that end up in Housing Court leads off with the assertion that, for legions of people, the term “gentrification” has unsettling connotations. In fact, it is “a dirty word.” It’s not hard…
It makes sense why real estate groups and developers’ lobbying entities have long pushed – consistently and insidiously – the argument that New York City rent stabilization is all about affordability for the metro’s most cash-pressured tenants. As a recent opinion letter to the Crain’s…
Let the games begin. Actually, that depiction is inapt concerning New York City’s annual determination of where the sliding scale should be concerning rent increases — if any — on rent-stabilized apartment dwellings across the metro area. The just-underway process involving number crunching and heavy…
“I’m not looking for bells and whistles,” says one New York City apartment dweller who scored housing after a concerted search earlier this year. “I’m looking for an apartment that I can live in.” A recent New York Times article indicates that would-be tenants’ journeys…
“[A] worsening crisis.” That is the cut-to-the-chase description of New York City’s current status quo and evolving destiny regarding rent-stabilized apartments notes a recent media spotlight on that subject matter. The sobering tone of an article penned in Curbed New York, which relies on the…
A recent report authored by online residential database company EasyStreet passes along a number of notable points regarding the state of rent affordability across New York City. And this is perhaps the website’s most prominent observation and stated imperative: City officials are going to have…
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