The Department of City Planning (DCP) recently released “Assessing Storefront Vacancy in NYC,” a report that examines retail patterns and storefront vacancies across 24 different neighborhood shopping corridors around the city. Recently, news media, communities, and elected officials...
New York City recently filed a lawsuit against an owner of three Manhattan buildings over allegedly using Airbnb to advertise illegal short-term rental units in the properties. According to the lawsuit, the owner and his companies formed at least 21 illegal listings at the buildings through...
The city has named the owners of three Hell’s Kitchen buildings in a lawsuit filed in Manhattan Supreme Court for operating illegal short-term rentals in rent-stabilized apartments. Tenants of one building were left without gas or a roof for six months in 2015 due to a fire caused by...
A group of tenants on the Upper West Side filed a lawsuit recently claiming that the owner failed to provide documentation to justify rent increases that ultimately deregulated their apartments. According to the lawsuit, based on the recent rent registrations filed for these apartments, the...
Councilwoman Margaret Chin and Councilman Mark Gjonaj recently proposed legislation that would legalize hostels throughout New York City. Hostels offer communal lodgings often sought by younger travelers looking for a cheap place to stay. Lawmakers passed a law in 2010 aimed at illegal hotel...
A small apartment building in Greenwich Village recently sold, representing one of the first sales since new laws restricting rents were enacted. It provides an early indicator of the values of rent-stabilized buildings under new state rules. The five-story walk-up sold for $11.6 million, a 12...
The Blackstone Group, owner of Stuyvesant Town-Peter Cooper Village, Manhattan’s largest apartment complex, is halting apartment renovations and other planned work at Stuy Town and Peter Cooper Village in response to the changes to the state’s rent-regulation laws passed by Albany...
Over the past few months, reports have emerged that ownership of single- and multi-family homes around New York City had been assigned to nonprofit organizations, to the surprise of the original owners. Reportedly, these owners were mostly middle-class, retired black residents who had paid off...
A judge has granted a motion allowing more than 100 East Harlem tenants to sue notorious landlord Steven Croman. The complaint, filed by law firm Newman Ferrara and the Housing Rights Initiative (HRI), alleges that Croman illegally leased rent-stabilized apartments in a Harlem building at market...
A recent report from Ariel Property Advisors found that New York City’s multifamily property market experienced a dramatic slowdown in the first half of 2019. Transaction volume slid to an eight-year low, according to preliminary numbers from the firm’s Multifamily Mid-Year In Review...
Attorney General Letitia James recently announced a lawsuit against a New York City property manager and his company for fraud, unjust enrichment, and repeatedly violating rent stabilization laws through manipulation of individual apartment improvements (IAIs). The manager worked for many years...
Intro. 1423, a bill to limit the amount a renter could pay a broker for its services, was initially introduced in February. Specifically, the bill mandates that residential brokers would be “prevented from collecting fees from prospective tenants that are above the value of one month...
