Monthly Archives: March 2017

RGB Season Starts

Owners’ net operating income rose 10.8% in 2015 according to Income and Expense data reported by the Rent Guidelines Board yesterday. Expenses rose 1.1%. The tightest margins appeared to be on 11-19 unit Bronx buildings with average rents of $913 … Continue reading

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Be There or Be Square

Today is CHIP’s Annual President’s Club lunch. A major announcement is planned for the event. Republican State Sen. Robert Ortt was indicted yesterday for alleged election law violations. Ortt’s removal from the Senate, if convicted, could tip the balance of … Continue reading

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So Much For Independence

Mayor de Blasio this week acknowledged “instructing” the Rent Guidelines Board members who froze rents the past two years. There are two vacancies on the Board that he is expected to fill shortly, and a preliminary guidelines vote for next … Continue reading

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421a Is About Unions Not Housing: Gov

Governor Cuomo told the Building and Construction Trades Council last week that “421a is not about an affordable housing program, 421a is about the principle (of protecting union labor).” Surprise. Cuomo,  yesterday, trumpeted a $1.4 billion plan to revitalize central … Continue reading

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Good Enough For Government Rent Increases

Mayor de Blasio may want to freeze rents on rent stabilized housing again, but he wants two percent minimum annual maintenance increases in HDFC low-income co-ops in order to ensure all buildings are “functional in the long run.” The minimum … Continue reading

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