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The City of Yes for Housing Opportunity heads for a full vote in the City Council later this week. Plus, we discuss President Trump’s new pick for Housing Secretary. 

This is your New York Apartment Association weekly news update with CEO Kenny Burgos.

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On The Agenda

1:04: City of Yes set for full Council vote later this week

2:13: Tim Scott is Trump’s choice for HUD Secretary 

3:24: Poughkeepsie rent stabilization stopped

5:27: The Housing Crunch revisited – a series from The New York Times
 

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Plus, the importance of giving back to our neighbors, all year round. 

This is your New York Apartment Association weekly news update with CEO Kenny Burgos. Happy Thanksgiving everyone.

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On The Agenda

1:20: City of Yes compromise 

2:58: Vacant Apartments 

4:21: City Council to approve new J-51 tax abatement program (12/5 Stated Meeting)

5:43:  The Housing Crunch – a series from The New York Times

6:50: Giving back to our neighbors in need

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We compare two apartment buildings on the same block in Queens: one is rent-stabilized, the other is not. One pays property taxes while the other does not. Guess which one is financially sustainable, and which one is not.

This is your New York Apartment Association weekly news update with CEO Kenny Burgos. 

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And on Substack 

On The Agenda

1:14: Rent-Stabilized Buildings are in Trouble 

2:58: Passage of the FARE Act

4:21: Parking minimums and the City of Yes 

5:35: A message from Mayor Eric Adams

7:06: Supreme Court housing case: Neil Gorsuch dissents  

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This is your New York Apartment Association weekly news update with CEO Kenny Burgos. 

Follow NYAA @housingny 

On The Agenda

2:19: The election results and NYAA’s renewed focus on housing 

4:02: A Democratic backlash against the real estate industry? Don’t worry about it.

4:50: Good Cause Eviction: 1719 Gates LLC v Torres 

6:11: Months-long timelines & delays in Queens Housing Court 

7:58: Driving inflation: New York City’s broken housing market  

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The New York City Council introduces City For All, billed as a companion piece to Mayor Adams’ City of Yes housing plan. A California judge deems San Francisco’s Vacancy Tax Law unconstitutional. REBNY proposes an alternative Broker Bill, and lead paint abatement deadline looms.

This is your New York Apartment Association weekly news update with CEO Kenny Burgos. 

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On The Agenda

1:17: State Comptroller finds NYC Dept. of Social Services ineffective at processing housing vouchers for homeless New Yorkers

2:45: City of Yes vs. City For All

3:55: Broker Fee update: REBNY proposed alternative bill

5:31: Back to Cali: Judge blocks San Francisco’s Vacancy Tax Law

6:49: ‘More than 10,000 NYCHA apartments abated for lead’ Summer 2025 is the deadline for lead paint testing in rent stabilized apartment buildings 

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This is your New York Apartment Association weekly news update with CEO Kenny Burgos. 

Follow NYAA @housingny 

On The Agenda

1:12: New York Community Bank sees 990% increase in multifamily loan delinquencies 

2:32:  New York City Council expected to eliminate broker fees for tenants 

4:00:  Local Law 157: What you need to know about the gas detector mandate 

5:45: New housing construction shortfall → REBNY: Q3 2024 Construction Pipeline Report / NYBC: 2024-2026 Construction Outlook

6:35: How the Rent Guidelines Board really works

7:23: 2024 RGB research snapshot

• Growing financial distress in older rent-stabilized buildings in The Bronx, Northern Manhattan, and parts of Queens and Brooklyn. 
• Property taxes account for roughly 30% of the rent checks for older rent-stabilized buildings.
• Operating costs continue to grow faster than inflation, including a staggering 22% increase in insurance costs.
• Interest rates remain high, making it difficult for landlords to access capital for crucial maintenance and repairs.
• Median rent-stabilized rents are $1,322, which is 26% of median rent-stabilized household income.

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Why the first citywide zoning change proposed in over 60 years must pass. Plus, a smarter fix for the homeless crisis and a ballot proposition to watch in California this election.

This is your New York Apartment Association weekly news update with CEO Kenny Burgos.

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On The Agenda

Organizing the City of Yes coalition 

State audit finds Human Rights Division mishandled housing discrimination complaints & the Daily News Editorial Board says DHR must fix housing investigations 

Finding the right balance: Scaffolding sheds & Local Law 11 

A smarter fix: housing vouchers could help ease our homeless crisis. Meanwhile, the DOI finds systemic risk, nepotism and massive salaries at nonprofits responsible for NYC homeless shelters. 

All eyes on California: Proposition 33 would repeal Costa Hawkins, paving the way for rent control in the Golden State

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Your New York Apartment Association weekly news update with CEO Kenny Burgos.

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On The Agenda

City of Yes  – City Limits 

Rent-regulated apartment values have fallen by 67% since 2019  – Crain’s

Economic Challenge for the Rent Guidelines Board  – NYU Furman Center

Water Bills: Examining rate-setting & billing structures – NYC Independent Budget Office

Investigation finds dozens of injury lawsuits from people living in same apartment buildings

– ABC7  

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Last month, the New York Apartment Association officially formed as a merger between the Community Housing Improvement Program and the Rent Stabilization Association. NYAA CEO Kenny Burgos discusses the housing policy news we’re keeping an eye on this fall, and delivers a message on the turbulent political situation at City Hall.

On The Agenda

Housing Vouchers

A new ‘J-51’ tax break?

A new Third Party Transfer (TPT) program?

G-MAX Management v. New York

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With temperatures rising in New York, one ambitious City Council member is proposing a law that would make landlords responsible for keeping everyone cool. Jay explains why the plan is wholly unrealistic – and better designed for grabbing headlines.

Plus, housing has become a hot topic in the presidential election. We examine the White House’s rent control proposal and other housing policies we’d like to throw cold water on. 

Stories cited in this episode: 

The Times: New York City Bill Would Mandate Air-Conditioning for Tenants

Crain’s: State’s home AC program runs out of money as heat-related illnesses climb

Reason: Joe Biden Loves Rent Control, J.D. Vance Hates BlackRock

Bloomberg: Biden’s Rent Control Plan Will Make the Housing Crisis Worse

Reason: Coconut Trees, Price Controls, and Demand Subsidies

Jay Martin: Bronx buildings in fiscal free fall

The Real Deal: “Not even distressed” rent-stabilized property sells for peanuts

BisNow: Nearly 300 Banks Are Vulnerable Because Of Their CRE Loans, Study Finds

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