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The Wages of Rent Control

Barely a month has gone since New York passed its new rent-control law, and the predictable problems are fast emerging. Blackstone Group , which owns the Manhattan developments of Stuyvesant Town and Peter Cooper Village, is putting renovations on hold, reports Crain’s New York Business. “In light of the recent legislation, we are in the process of evaluating capital investments at Stuy [...]

2019-07-23T09:39:14-07:00July 23rd, 2019|Uncategorized|

New York Rent Control: From Bad to Worse

New statewide rent control laws have thrown the New York City apartment market into turmoil, with prices of properties impacted dropping sharply overnight and the possibility that it will lead to the deterioration of housing stock and depress the amount of supply. The law – the Housing Stability and Tenant Protection Act of 2019 – [...]

2019-07-19T10:48:32-07:00July 19th, 2019|Uncategorized|

New York Landlords Call Rent Control Laws An ‘Illegal Taking’ In New Federal Lawsuit

New York landlords are attacking rent regulations in a new federal lawsuit, claiming that capping what they can charge tenants in rent is equivalent to an illegal taking of property. Last month, housing advocates in New York celebrated sweeping new laws that established rent control permanently and extended tenant protections beyond just New York City, allowing [...]

2019-07-19T09:52:37-07:00July 19th, 2019|Uncategorized|