City to Withhold Rent

Mayor de Blasio, yesterday, invoked the Spiegel Law to warn eight owners of 12 apartment buildings that the City would not be paying June rent for tenants on public assistance unless 2075 violations were corrected.

The Rent Guidelines Board, yesterday, issued a report finding a net loss of just 8,009 stabilized units in 2015, only 109 of them from High Income/High Rent decontrol. Since 1994, a grand total of 6,093 apartments were decontrolled because of High Income tenants, and the number has been declining.

In a second report, the RGB found that the number of new housing units completed in 2015 increased 21.0% over the prior year, to 14,357.  Permits for 56,528 new dwelling units were issued in New York City in 2015, a 176.0% increase over the prior year…most of them in the second quarter when developers tried to beat the 421a expiration deadline, or the fourth quarter after 421a was extended only to January 2016.

Crain’s New York is taking on cranes in New York, mounting a campaign for what it believes to be a smaller, safer, cheaper, and more effective crane that the Department of Buildings is blocking for political reasons.

Construction on Long Island can be even more convoluted and protracted than in the City, because almost no multifamily can be built as of right, according to a report by the Long Island Index. Typical projects take 2-12 years from land acquisition.

HPD has issued an RFP for a mixed use development with about 400 affordable apartments on nearly a full city block at Park Avenue and 111th Street. It is the first HPD RFP requiring passive energy design, and the project would reportedly be the largest passive house in the country.

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