By Ron Cohen, Chief Sales Officer, Besen Partners Photo by Wally Gobetz New York City’s first-ever two-year rent freeze is now in the hands of a state Supreme Court judge, and the decision could reset income for owners of roughly one million rent-stabilized apartments housing some 2.4 million residents. In June, the Rent Guidelines Board voted 7-1 to hold rent increases at 0% on both one- and...
By Ron Cohen, Chief Sales Officer, Besen Partners Photo by Lwsmith10128 New York City’s Community Opportunity to Purchase Act (COPA) is back, and this latest version could have a much better chance of becoming law. The proposal would give qualified nonprofit organizations the first opportunity to purchase certain multifamily properties before they are sold on the open market. Unlike earlier...
Midtown South Mixed-Use Plan (MSMX) does NOT give a condo exemption. It triggers Mandatory Inclusionary Housing (MIH) exactly the same as rental unless you intentionally choose the “condo MIH” pathway (higher AMI/lower depth).
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home.
When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
New York City’s proposed hotel licensing bill, Int. No. 991, is igniting alarm among the city's hospitality sector, particularly small and independent operators.
Traditionally, when an owner of a property decided it was time to hire a broker, standard practice was to research companies that are located within reasonable proximity to the subject property.
In 2023, the North Manhattan multifamily real estate market continued to face significant challenges, primarily driven by the lingering effects of HSTPA and higher interest rates. These factors spurred caution among property investors, leading many to adopt a wait-and-see approach.
By Magal Gabay, Investment Sales Associate As a resident of McGuinness Boulevard and being a new father, I get to walk around the neighborhood quite often. During the past few months, anyone who walks in Greenpoint couldn’t miss the signs supporting and opposing the new plan to redesign McGuinness Blvd. The new plan offers that from Calyer Street to the Pulaski Bridge there will still be two lanes...