On May 10, the New York City Water Board approved a 5.6 percent increase in water rates for the new fiscal year, which begins on July 1. This is the same rate that it had proposed earlier, in addition to raising fees for certain services.
The Rent Guidelines Board (RGB) is mandated by law to establish yearly rent adjustments for rent-stabilized apartments in New York City. The board holds an annual series of public meetings and hearings to consider research from staff, and testimony from owners, tenants, advocacy groups, and...
CWCapital Management, the company that controls the Stuyvesant Town and Peter Cooper Village, is reportedly planning to boost operating income at the complex before putting it up for sale. CWCapital has been in control of the complex on Manhattan’s East Side since early 2010, when prior...
State and federal authorities are investigating whether several New York heating oil businesses cheated tens of thousands of customers for years, selling fuel diluted with recycled or waste oil, according to law enforcement and city officials. As part of the criminal investigation, the...
Unlike previous years, starting in 2013, the annual property registration cycle will be the same for all properties that are required to register. All properties will be required to be registered annually by Sept 1.
On Feb. 27, 2013, Final Rules were published for Local Law 45 of 2012, which Mayor Bloomberg signed into law on Oct. 2, 2012. Local Law 45 emerged from the findings of a growing trend among New Yorkers to market rooms within residential apartment buildings for short-term use.
On Jan. 15, the city’s Department of Finance (DOF) released the tentative property assessment roll for fiscal year 2014, the tax year beginning July 1, 2013. According to the publication, the total market value of Class 2 properties, which consist primarily of cooperatives, condominiums,...
On Feb. 11, City Council Speaker Christine Quinn gave her final state of the city speech and, in doing so, laid out a proposal she says will make housing more affordable for New Yorkers. During her speech, she also unveiled a new study about the city’s shrinking middle class, showing that...
A bill that gets tougher on owners who make cosmetic repairs to buildings but fail to address underlying structural problems was recently passed by the city council. The bill passed unanimously and now goes to the mayor’s desk for his signature. If it becomes law, there will be a...
On Nov. 30, Mayor Bloomberg and Department of Environmental Protection (DEP) Commissioner Carter H. Strickland Jr. announced that the city would temporarily suspend water bills for properties that were severely damaged by Hurricane Sandy.
Mayor Bloomberg, the city’s Department of Housing Preservation and Development (HPD), Community Preservation Corporation (CPC), and Housing Development Corporation (HDC), together with Citi Community Capital, recently launched the Storm Recovery Loan Fund, a pilot program to provide up to...
A group of tenants in Manhattan Beach recently went to court to make their building’s owner get rid of a foul smell that Superstorm Sandy left behind. According to tenants, a smell has permeated the 49-unit property ever since sea water flooded the basement and sprang leaks in stored fuel...