Online Alerts

RGB Study Finds Net Operating Income Grew Nearly 11%

April 5, 2017    

According to income and expense data recently released by the Rent Guidelines Board, owners’ net operating income rose 10.8 percent in 2015 and operating costs rose 1.1 percent from 2014 to 2015. This is the 11th consecutive year that net operating income has increased, and it represents...

Judge Upholds Rent Freeze for Rent-Stabilized Apartments

April 5, 2017    

New York State Supreme Court Judge Debra James recently upheld the Rent Guidelines Board’s 2016 decision to freeze rents for all stabilized rental units in the City of New York. It was the second year in a row that the RGB chose to freeze rents for stabilized units.      ...

Mayor de Blasio Announces Two Appointments to the Rent Guidelines Board

April 5, 2017    

Mayor Bill de Blasio recently announced two new appointments to the Rent Guidelines Board: David Reiss, a Brooklyn Law School professor specializing in property law, and Hilary Botein, a professor at Baruch College's Marxe School of Public and International Affairs. The board is responsible...

Court Agrees 2016-17 Water Rates Should Be Applied Equally

March 2, 2017    

In Matter of Prometheus Realty Corp. v. New York City Water Board, the New York State Supreme Court Appellate Division, First Department, agreed that water rates for 2016-17 should continue to be frozen for all, rather than increased for multifamily customers so that single-family...

De Blasio, Mark-Viverito Announce Right-to-Counsel Initiative

March 2, 2017    

Tenants facing eviction proceedings in New York City Housing Court will have free universal access to legal services under a new $93 million city allocation recently announced by Mayor Bill de Blasio and City Council Speaker Melissa Mark-Viverito.

The funding will make New York City the...

Owner Sues to Have ‘Worst Landlords List’ Removed

March 2, 2017    

A building owner failed to convince a Manhattan judge to remove the city’s list of “100 Worst Landlords” from the website. The list has the owner at No. 34.

The owner, who had accumulated 565 violations at seven buildings, argued that he shouldn’t be on the...

Independent Budget Office Finds Inefficiencies in 421-a Program

February 1, 2017    

The Independent Budget Office of the City of New York (IBO) recently issued a report that found the 421-a program was especially inefficient compared to the average tax break. It found the 421a program to be the city’s largest tax expenditure at $1.4 billion this fiscal year due to...

City Council Introduces Bill to Redefine ‘Residency’ for Lead Paint Removal Purposes

February 1, 2017    

In April 2016, the New York State Court of Appeals found that a landlord has no duty to remove lead paint from apartments where children 6 years or younger may spend time but don’t live. The court found that a child spending in excess of 50 hours a week in an apartment didn’t trigger...

DHCR Updates Forms with Correct Deregulation Rent Thresholds

February 1, 2017    

The DHCR has published updated Forms HRVD-N (Notice of Apartment Deregulation Pursuant to High Rent Vacancy) and RA-93 CF (Income Certification Form) to reflect the 2017 Deregulation Rent Thresholds.

The threshold remains $2700 in New York City.

NYC Amnesty Program Clears $150M in Penalties

January 5, 2017    

A three-month amnesty program run by the DOF cleared more than $150 million in penalties owed by New Yorkers due to fines from various city agencies. Proposed by City Council Member Julissa Ferreras-Copeland and agreed to by the City Council and Mayor Bill de Blasio, the September-to-December...

421-a Owners Receive Increased Scrutiny Over Wage Rules

January 5, 2017    

New York City and State regulators are increasing efforts to enforce wage rules for service workers at luxury apartment buildings whose owners receive 421-a tax breaks. The New York City Department of Housing Preservation and Development, the city comptroller, and the New York Attorney General...

Public Single Occupant Bathrooms Required to Be Gender Neutral

January 5, 2017    

As of Jan. 1, every building in the city that has a single-occupant bathroom that’s publicly accessible is required to remove gender-specific signage from single occupant bathrooms and indicate they may be used by all sexes. Larger, multiple stall single-sex bathrooms are not be affected...