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SEC says 2019 Rent Laws tanked rent-stabilized building valuations
Manage episode 462553843 series 3556055
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Thousands of buildings will fail if the laws remain unchanged or the government doesn’t provide aid.
Plus, if your rent is $2,500 in New York City, you are basically paying the same amount in property taxes as a million-dollar single-family home.
This is your New York Apartment Association weekly update with CEO Kenny Burgos.
Follow NYAA on BlueSky: @housing.bsky.social
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On The Agenda
1:23: SEC investigates NY banks’ exposure to “toxic” rent-stabilized loans
→ Read the letter here
3:07: City continues to raise taxes on rent-stabilized buildings
4:42: Kathy Hochul’s State of the State Address
6:14: Local Law 97 compliance update
→ For those seeking an extension, make sure to hire a registered design professional or retro-commissioning agent before Feb 1st.
→ Compliance reports are due May 1st.
→ Building owners can ask for a 60-day grace period to file reports. For help, please contact our office.
6:53: L.A. climate migrants seek housing in New York
Visit our website for more information.
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