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Over the past four months Manhattan market rental prices have continued to increase, reaching the highest peaks in more than five years, according to a recent Douglas Elliman report analyzing the rental market in Manhattan, Brooklyn, and Queens for June 2014. The market has tightened as a result of falling vacancy rates and limited use of concessions by owners. The median rent for Manhattan was $3,300.
New York City’s Fire Department has started responding to all reports of gas odors that the city receives. This is a change in policy put into effect in the wake of the March 12 explosion in East Harlem that leveled two apartment buildings, killing eight people and injuring at least 70 others.
The NYU Furman Center recently released a fact brief that details characteristics about the socioeconomic and demographic characteristics of the tenants who live in stabilized housing. The brief, Profile of Rent Stabilized Units and Tenants in New York City, is an update to a 2012 Furman Center brief. According to the brief, in 2011, roughly 66 percent of tenants living in rent-stabilized units had “low incomes” (less than $58,950 in 2011), compared to rough...
An owner is filing to evict a rent-stabilized tenant for beginning to rent out her fourth-floor walkup in Tribeca in September 2012. For nine months, the owner claims she rented the apartment, charging $250 per night, $1,750 per week, or $4,500 per month for a space that she rents for $1,463.79 a month.
New York City's Rent Guidelines Board has voted to raise rent on nearly a million regulated apartments, bypassing the mayor's appeal for a one-year rent freeze. In a 5-4 vote, the board voted to implement an historically small increase: Rents for one-year lease renewals will be raised by 1 percent, and by 2.75 percent for two-year leases. The rates are for renewals as of Oct. 1.
On May 14, the New York City Council unanimously voted to expand a housing subsidy program that will now give a rent freeze to tens of thousands more seniors citywide.
As part of New York State’s 2014-2015 budget, the state legislature approved on March 31 a huge increase to the income limit for eligibility in the city’s Senior Citizen Rent Increase Exemption (SCRIE) program. The exemption freezes housing costs for rent-regulated residents older than a...
Airbnb has reached a deal with the New York attorney general in which the rental company will turn over anonymous records of Airbnb hosts for analysis. In the data handed over there will be no names, addresses, or personally identifiable information.
Mayor Bill de Blasio’s administration recently proposed a 3.35 percent increase in New York City’s water and sewer rates. It’s the lowest such increase since fiscal 2006, but officials acknowledged the recommendation doesn’t fully address what the mayor previously denounced as a “hidden tax.”
On May 5, Mayor Bill de Blasio unveiled a 10-year, $41.4 billion affordable housing plan for New York City. The plan outlines how the administration intends to create and preserve 200,000 units of affordable housing over the next 10 years. Of those, 80,000 will be new units and 120,000 will be preserved, and they will target a range of incomes, from extremely low to middle-class.
Recently, the Citizens Budget Committee and DNAinfo looked at the census numbers and state records and found that in 2010, 22,642 of the city’s 970,000 rent-stabilized apartments (approximately 2.3 percent) were occupied by households making more than $199,000. Of those, 2,300 apartments were occupied by people making more than $500,000.
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