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Latest News: Changes to the 2019 Housing Stability Tenant Protection Act
Urgent Update Regarding the COVID-19 Pandemic – Read More
With 2024 in the books, 2025 becomes the year of reckoning for New York City’s most ambitious climate law. If any property owners need a refresher, please refer to our prior Local Law 97 (LL97) summary. We are excited to present a two-part series to ensure no building...
In just a few short months Local Law 97 (“LL97”), the centerpiece of New York City’s 2019 Climate Mobilization Act, will officially take effect. In an effort to target the largest source of carbon emissions in the City, LL97 will apply to buildings that exceed 25,000...
The New York City Rent Guidelines Board (RGB) approved RGB Guideline 55 authorizing new rent increases for one and two year rent stabilized leases commencing on or after October 1, 2023, and on or before September 30, 2024. The increases are as follows: For a one-year...
New York City property owners know all too well how costly and difficult the COVID-19 pandemic was for many in the industry. Considering the double-whammy of inflation that swiftly followed, the financial toll has been a struggle for some. Preliminary rates set Now,...
The Emergency Rental Assistance Program (ERAP) was closed on Jan. 20, 2023, by the Office of Temporary and Disability Assistance (OTDA). For months, many summary proceedings have been on hold for tenants with pending ERAP applications, even when funding for the...
No one could have predicted the extreme, once-in-a-lifetime events that began with the March 2020 emergence of COVID-19. Now, after almost three dramatic years, inflation and the Federal Reserve System’s (the Fed’s) corresponding interest rate hikes add even more...
After the long haul through the eviction moratorium and other pandemic-related restrictions, property owners are ready to get back on track with life as we knew it in the housing business. Unfortunately, this is not yet the case. Several moving parts seem to...
As of this writing on Sept. 22, 2022, New York property owners and landlord advocacy organizations have five federal lawsuits awaiting decision before the U.S. Court of Appeals for the Second Circuit. These suits challenge 2019 state law changes that gave tenants in...
New York Gov. Kathy Hochul signed legislation on June 7, taking effect immediately, that will ease red tape for hotel owners and developers considering the conversion of underutilized, sometimes vacant hotels into affordable residential units. The bill allots $200...
The COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 and COVID-19 Emergency Protect Our Small Business Act of 2020 have both expired on January 15, 2022. This is welcome news as both residential and commercial eviction proceedings may proceed in...
