Missing the train

North Brooklyn landlords gave up between $6 million and $26 million in rent increases since the announcement in 2016 of an L train shutdown,  according to a StreetEasy analysis. Rents along the train line fell 1.5% while rents on new leases in Brooklyn generally were up 3.3%. StreetEasy expects rapid increases now that the shutdown is cancelled.

There were permits for 32,580 multi-family units filed with the New York City Department of Buildings in 2018, beating 2017’s total of 19,180 units by 70%, according to New York Yimby’s 2019 Construction Report.

There is probably no connection, but DOB Commissioner Rick Chandlerannounced his retirement this week. First Deputy Commissioner Thomas Fariello will fill in as Acting Commissioner.

During Mayor de Blasio’s State of the City address, Thursday, he dramaticallysigned an executive order creating a new Mayor’s Office to Protect Tenants—not to be confused with myriad other City and State tenant protection units too numerous to mention.

State Senate Republicans announced that George Amedore of Rotterdam, NY will become ranking minority member on the Housing Committee. Amedore is also a Capital Region homebuilder.

Registration for BuildingsNY 2019, April 2nd and 3rd at the Javits Center, is now open. CHIP and ABO will be holding seminars at the Show on new environmental laws, lead paint, and Albany’s actions on rent regulations. Click here to sign up for free.

The Brooklyn Rent Office of the State Division of Housing and Community Renewal is moving downstairs from the 7th to the 6th floor at 55 Hanson Place, as of January 28th.
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