Commercial rent regulation – an improper usurpation of state power
Alexander Lycoyannis and Dejan Kezunovic of Rosenberg & Estis weigh in on proposals to regulate commercial rents in NYC
Category : Views
COVID-19 an unintended byproduct of affordable housing crisis
New York City must choose between perhaps limiting the spread of a global virus or failing to provide for the needs of more than one hundred thousand young boys and girls.
Anti-development fervor threatening economy and longterm growth
If we want a progressive City, we need a prosperous City. If we want to be prosperous, we need to grow. Growth will create the housing necessary to accommodate an increasing population and help address our affordable housing crisis. For example, between 2005 and 2016, the City’s population increased by...
Demolition: One of the last ways to deregulate a building
Owners are desperately seeking ways out of rent regulation in an attempt to recapture the profitability their buildings previously had.
New federal budget proposals threaten to worsen affordable housing crisis
Families living in communities across the United States are struggling to pay their rent. In fact, a Harvard University study found that roughly half of all American renters – about 50 million households – are paying a higher percentage of their income on rent than is considered affordable. Two-thirds of...
A Missed Opportunity to Reform New York’s Inequitable Property Tax System
Our City’s property tax system is overly complex, inequitable, and unfair. After decades of inaction, another report was issued with some suggested reforms. Earlier this year, the New York City Advisory Commission on Property Tax Reform released a new set of recommendations that explicitly recognize the inherent inequalities at play....
Fighting for residential rental agents and the value they provide
With all the recent attention on rental broker commissions, the perspectives of hard-working residential real estate agents have been an important part of the conversation. Contrary to a public perception that real estate agents are all “millionaires,” the residential agent earns an average of $53,000 per year. For many who...
Affordable housing industry must make voter registration a priority
Last weekʼs week’s Iowa Caucus officially marked the beginning of the 2020 presidential election cycle, which impacts the lives of millions of New Yorkers and tens of millions of Americans who desperately need affordable housing. Several leading candidates have outlined policies to combat the national housing crisis — good news....
Building sales slide means less money to pay police, firefighters
New York City’s status as a global center of commerce and culture is based on more than our growing economy, reputation for innovation and renowned institutions. Lifelong New Yorkers and those new to the Big Apple rightfully expect the city to continue to be a thriving place to live, work,...
Looking ahead to the challenges and opportunities coming in 2020
By Daniel M. Bernstein, Esq. Rosenberg & Estis, P.C. 2019 was a critical year for NYC real estate operators, developers, lenders and investors. Legal changes were numerous and their effects on values were profound. These changes require careful analysis and evaluation of how they affect your investments. Major Legal Developments...