Online Alerts

Mayor Signs Legislation Extending Rent Stabilization Laws

April 11, 2018    

On March 27, Mayor de Blasio signed legislation to extend rent regulation laws for the next three years. The laws will remain in effect until April 1, 2021. A vacancy rate below 5 percent allows the state rent regulation laws to continue to be effective in New York City. The city’s vacancy...

NYC Tax Commission Issues 2017 Annual Report

April 11, 2018    

A new report from the NYC Tax Commission for fiscal 2017 shows the independent agency received 54,730 applications to review property tax assessments by March 2017. These applications covered 211,034 separately assessed tax lots, having an aggregate assessed value of $223,161,504,033. According...

HPD Offers Building System Clinic

April 11, 2018    

On May 2, HPD is offering a clinic geared toward property owners. The clinic is billed as an opportunity to learn about how the city’s low- or no-cost financing and tax benefits can help owners upgrade or replace major building systems and lower operating costs. Representatives from HPD,...

HPD Numbers Show Low NYC Vacancy Rates

March 1, 2018    

Numbers from the New York City Housing and Vacancy Survey conducted for the city every three years by the U.S. Census Bureau were presented recently at a recent City Council meeting. Full data from the 2017 edition won't be out until this summer, but the city Department of Housing...

Chief Judge Wants to Implement Changes to NYC’s Housing Courts

March 1, 2018    

Chief Judge of the Court of Appeals and of the State of New York Janet DiFiore recently delivered the State of the Judiciary Speech. On the issue of Housing Court, DiFiore said, “New York City is experiencing its highest levels of homelessness since the Great Depression.”

Renters Seek Changes to MCI Law

March 1, 2018    

Under state laws, owners of rent-controlled buildings can apply for rent increases to offset the cost of major capital improvements on a per-room basis. Recently, a group of more than 100 renters rallied outside the DHCR offices on Union Hall Street. Several tenants accused the DHCR of being a...

NYC Sues Owner for Illegal Airbnb Hotels

February 1, 2018    

The mayor’s Office of Special Enforcement is bringing a lawsuit against an owner who turned rent-stabilized apartments in his four-story Manhattan walk-up into illegal hotels via Airbnb and other platforms. In September 2017, officials found “illegal hotel use” in six out of...

Class Action Lawsuit Filed Against Owner for Illegal Deregulation

February 1, 2018    

A new class action lawsuit was recently filed against Steve Croman, who is serving jail time for mortgage and tax fraud. The complaint alleges that Croman wrongfully removed nearly 70 percent of the units at 326-340 East 100th Street from New York’s rent stabilization program. At the same...

Cited Owner Won’t Complete Emergency Repairs by Deadline

February 1, 2018    

The DOB recently imposed an emergency vacate order after conducting a court-ordered inspection of a building on the Lower East Side. The DOB required the property owner to replace an unstable staircase within two weeks. This sudden evacuation, which displaced nearly 100 people, including 17...

DOB Invites Comments on Proposed Buildings Penalty Schedule Update

January 3, 2018    

The Department of Buildings (DOB) is proposing to update the Buildings Penalty Schedule to reflect the current construction environment, and to better ensure public safety. The last major overhaul of the Buildings Penalty Schedule occurred in 2008.

The DOB will hold a public hearing on...

Owner to Pay $8M in Tenant-Harassment Suit

January 3, 2018    

Attorney General Schneiderman recently announced that Steve Croman, a major multifamily owner who is serving a prison sentence for mortgage fraud, agreed to pay $8 million in restitution to tenants he harassed. An independent manager will run more than 100 of Croman’s properties, and...

Recent Bronx Fires Reminds Owners of Fire Safety Plan’s Importance

January 3, 2018    

The recent tragic fire that spread through a Bronx apartment building claiming the lives of 12 people including five children has been deemed New York City’s deadliest since 87 people were killed at a Bronx club in 1990. According to reports, the flames spread quickly from a ground-floor...