Author Archives: abogny

Not Every Rent Frozen

The Rent Guideline season continued to heat up this week with the release of Mayor De Blasio’s tax returns, showing he raised the rent on one of his apartments an average of 2.6% per year since 2009. No freeze there. … Continue reading

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Taxes, Fuel Drive Price Index Up

The Price Index of Operating Costs released by the Rent Guidelines Board yesterday showed an overall 6.2% increase. The index reflected a 7.8% increase in property taxes, the largest area of expense, and a 24.6% increase in fuel costs. Accordingly, the PIOC … Continue reading

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How Much?

The New York City Council, Wednesday, passed legislation prohibiting employers from asking job applicants what they were paid at their last job, or relying on that information to make salary offers. If signed by the Mayor, as expected, employers will … Continue reading

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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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Morningside Heights

Renovation and development just got harder between Amsterdam Avenue and Riverside Drive from 109th to 119th Streets with the creation, Tuesday, of a Morningside Heights Historic District. The value of residential construction citywide fell from $19.5 billion in 2015 to … Continue reading

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Thirsty?

The Appellate Division, First Department, yesterday agreed that water rates for 2016-17 should continue to be frozen for all, rather than increased for multifamily customers so that single family homeowners could get a credit. The Mayor’s plan for the homeowner … Continue reading

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