SEC says 2019 Rent Laws tanked rent-stabilized building valuations

Send us Fan MailThousands of buildings will fail if the laws remain unchanged or the government doesn’t provide aid. Plus, if your rent is $2,500 in New York City, you are basically paying the same amount in property taxes as a million-dollar single-family home.This is your New York Apartment Association weekly update with CEO Kenny Burgos.Follow NYAA on BlueSky: @housing.bsky.socialFollow @housingny on Instagram X TikTok YouTube & Substack On The Agenda1:23: SEC investigates NY banks’ exposure to “toxic” rent-stabilized loans→ Read the letter here3:07: City continues to raise taxes on rent-stabilized buildings 4:42: Kathy Hochul’s State of the State Address6:14: Local Law 97 compliance update→ For those seeking an extension, make sure to hire a registered design professional or retro-commissioning agent before Feb 1st.→ Compliance reports are due May 1st.→ Building owners can ask for a 60-day grace period to file reports. For help, please contact our office.6:53: L.A. climate migrants seek housing in New York Visit our website for more information.Follow Us:BlueSkyXInstagramTiktok