The Rent Guidelines Board has approved a nearly 4 percent hike for rent-stabilized apartments in the city, affecting some 1.1 million apartments by 3.75 percent for one-year renewals and 7.25 percent for two-year contracts, the New York Daily News reported. The hikes will take effect October 1. “It’s very disappointing,” said Jesse Duperon, who lives [...]
The Rent Guidelines Board will hold a final vote tonight on how much the tenants of more than one million rent-regulated city apartments will pay this fall. Board members are gathering at Cooper Union’s Great Hall at 5:30 p.m. to consider a hike of 3 to 5.75 percent for one-year lease renewals and an increase [...]
A new state law cracking down on illegal hotels is already getting results. The city says it has taken action against 15 illegally converted hotels since the law took effect two weeks ago. The mayor’s office released video of some of the residences located in Brooklyn and Manhattan. Investigators say the buildings were overcrowded, and [...]
The man in charge of demolishing the calamity-prone Deutsche Bank building at Ground Zero slipped and broke his wrist Tuesday while leaving the construction site, dnainfo.com reported yesterday. David Emil, president of the Lower Manhattan Development Corp., was hospitalized for the injury and may require surgery, the website said. “He’s obviously still thinking about the [...]
A New York real estate group has agreed to pay $1 million to settle allegations that it harassed tenants as part of a campaign to replace them with people paying higher rents. Vantage Properties owns 9,500 apartments in the city. Attorney General Andrew Cuomo announced the settlement Thursday. He had accused the company of trying [...]
The West Side Rail Yards project will go on, despite the loss of one of its partners. The Metropolitan Transportation Authority announced Monday that financial giant Goldman Sachs has pulled out of the $1 billion deal to redevelop the Hudson rail yards. However, the plans are expected to go on unchanged. The MTA is delaying [...]
If Donald Trump has his way, orphaned Manhattan apartment complex Stuyvesant Town-Peter Cooper Village could one day be called TrumpTown. The Post has learned that the real estate mogul and TV personality has thrown his hat into the ring to either buy or manage the massive apartment complex, whose fate was cast into doubt this [...]
A Manhattan Supreme Court judge ruled Monday that the special minimum increases imposed by the Rent Guidelines Board in 2008 were illegal. The law said tenants paying less than $1,000 a month had to pay an increase of either $45 or 4.5 percent on one-year leases — whichever was higher. For two year leases, those [...]
Capping a slow and steady financial fall, two real estate giants are handing Stuyvesant Town and Peter Cooper Village over to creditors. Tishman Speyer and BlackRock Realty were unable to maintain their financial commitment to the sister properties. A spokesman for the partnership says transferring control became the only viable alternative to bankruptcy, after it [...]
The head of the city board that sets rent hikes for a million New Yorkers has resigned – putting landlords and tenants on alert for who Mayor Bloomberg appoints to replace him. Marvin Markus, a municipal finance expert, oversaw the Rent Guidelines Board’s raucous annual meetings to set increases for rent-controlled and rent-stabilized apartments during [...]
