In the News

NYC Enacts Five Building Resiliency Laws

October 24, 2013    

As part of its continuing efforts to make New York City better prepared for future hurricanes, the City Council recently passed a package of legislation that’s intended to strengthen building standards and enhance building and infrastructure resiliency against the effects of future storms...

Court to Decide Whether Rent-Stabilized Lease May Be Bankruptcy Asset

October 24, 2013    

A 79-year-old rent-stabilized tenant is at the center of a bankruptcy case that may pose a risk to her and the millions of other New Yorkers who live in rent-stabilized apartments.

The tenant, unable to keep up with her bills after her husband’s death, filed for Chapter 7 bankruptcy...

Filing Deadline for 2012 Category 1 Elevator Inspections Extended

September 24, 2013    

The Department of Buildings announced that the deadline to file 2012 Category 1 Elevator Inspection and Affirmation of Correction Reports has been extended to Dec. 31, 2013. This extension applies to reports for unsatisfactory Category 1 inspections for the calendar year 2012 inspection cycle....

Short-Term Sublet Profiteer Escapes Eviction

August 22, 2013    

Even after owners hired a private investigator to document a tenant’s illegal short-term rental activities, the Nolita tenant has managed to avoid getting evicted, due to a technicality.

Owners Seek to Evict Tenant for Illegal Short-Term Rental

July 24, 2013    

In May, a judge ruled that online short-term apartment rental practices violate city codes and state law. Still, industry leaders estimate 3,000 New Yorkers rent out their apartments to visitors, making an expected $1 billion in profits this year.

Task Force Releases Recommendations to Strengthen NYC Building Standards

June 21, 2013    

New York’s Building Resiliency Task Force, the expert panel that convened after Hurricane Sandy to outline steps to fortify New York’s buildings and strengthen building standards, recently released a report that includes 33 recommendations. They address resiliency in a wide range of...

NYCHA Proposal to Let Developers Build Private Apartments on Public Land Meets Resistance

June 21, 2013    

New York City’s plan to let private developers build on public housing land is drawing increasing resistance from politicians, residents, and housing advocates, who say the idea should be abandoned. In the beginning of the year, the New York City Housing Authority (NYCHA) commenced a multi...

Prepare Forms for Upcoming MBR Cycle

June 19, 2013    

If you own a building with rent-controlled units, remember to submit the forms that need to be filed for the upcoming 2014-2015 maximum base rent (MBR) cycle. The forms include the Violation Certification and the Operation and Maintenance and Essential Service Certification.

RGB Proposes Lease Renewal Adjustments

May 20, 2013    

On April 30, the Rent Guidelines Board (RGB) voted on preliminary numbers for increasing rent-stabilized rents. The board voted for rent hikes of between 3.25 and 6.25 percent on one-year renewal leases and increases of between 5.0 percent and 9.75 percent for two-year renewal leases.

Water Board Approves 5.6% Water & Sewage Rate Increase

May 20, 2013    

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.

RGB Releases 2013 Operating Cost and Affordability Reports

April 24, 2013    

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...

Settlement Approved, Stuy Town Seeks Income Boost

April 22, 2013    

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...