Housing New York with Kenny Burgos

Nearly 700,000 rent-stabilized homes need a $4.65 billion bailout

Tue, 16 Dec 2025 14:00:00 -0500

With expenses far outpacing rents, urgent policy reforms are needed to avoid widespread default in distressed affordable housing. We examine new reports from NYHC and NYAA.

Kenny also has the latest on COPA and the Kingston rent control saga — and be sure to check out the brand-new edition of Housing New York Magazine.

Plus, do you or someone you know qualify for a rent freeze?

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

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On The Agenda

1:09: NYHC report says policy reforms needed to avert affordable housing failure

→ Bloomberg: NYC’s Squeezed Landlords Need $1 Billion to Help Avoid Default

→ NYAA: $4.65 Billion Rent-Stabilized Building Bailout Needed

3:44: City Council rewrites COPA

5:31: Kingston update

7:03: Do you qualify for a rent freeze? Spreading the word on SCRIE & DRIE

→ Check if you or someone you know qualifies at nyc.gov/rentfreeze

8:40: Kenny’s holiday housing wishlist

9:05: Year-end compliance crunch checklist

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The evidence for rent-stabilized housing distress is now overwhelming

Tue, 02 Dec 2025 12:00:00 -0500

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The latest NYU Furman Center report provides a data-rich picture of New York’s rent-stabilized housing woes. Plus, residential insurance costs are one of the biggest reasons affordable housing is in so much trouble. NYAA testifies before the state Senate.

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

Check out the latest edition of Housing New York Magazine

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On The Agenda

1:11: NYU Furman Center brings the data on NYC’s rent-stabilized housing stock

4:07: NYAA testifies: untenable insurance premiums & the high cost of fraud

→ Watch NYAA Policy Director Kathleen Irwin’s full testimony before the NY State Senate

6:26: COPA and the City Council

8:09: The who's who of Mayor-elect Mamdani’s housing-focused transition team

→ Mamdani selects several corporate executives to mollify city’s business community

10:02: Julie Menin declares victory in City Council speaker race

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We have a new mayor… Now what?

Tue, 18 Nov 2025 11:00:00 -0500

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Plus, we explain how rent controls lead to market paralysis and a tale of two cities.

And we have an exciting new partnership to tell you about.

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

Check out the latest edition of Housing New York Magazine

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On The Agenda

1:14: Mamdani won. Now what?

3:13: Recap: Somos 2025

4:27: Rent freezes have consequences the world over

6:03: NYAA joins the National Apartment Association

7:00: Uptown turkey giveaway 🦃

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Nonprofit affordable housing providers are sounding the alarm.

Tue, 04 Nov 2025 11:00:00 -0500

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Two new reports show rents aren’t covering operating costs in stabilized buildings and project it will cost billions to save them.

Plus, the insurance-cost crisis has finally captured the attention of state lawmakers.

And we took a trip to Vienna, Austria. What we learned may surprise you.

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

Check out the latest edition of Housing New York Magazine

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On The Agenda

1:11: ANHD and Enterprise sound the alarm

3:35: Should Mayor Adams stack the RGB on his way out?

5:14: The Legislature: Insurance crisis hearing scheduled for Tuesday, Nov. 18

6:09: Is NYC Cooked?

9:00: Preview: Housing lessons from Vienna

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Election preview: housing on the ballot & Mamdani’s “Plan B”

Tue, 21 Oct 2025 11:00:00 -0400

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Leading mayoral candidate Zohran Mamdani has yet to take a stand on ballot questions 2, 3, and 4 — and he’s hinted that his $10 billion campaign platform might require a new funding mechanism.

Plus, we break down the numbers behind last year’s 250,000 heating complaints.

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

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On The Agenda

1:12: Housing on the ballot

→ Learn more about each ballot proposal here

3:35: Heat complaints in context

5:14: Why we oppose a rent freeze

6:09: Mamadani’s “Plan B”

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The masses are starting to catch on to the fact that thousands of rent-stabilized buildings are under water

Tue, 30 Sep 2025 11:00:00 -0400

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Older, fully-stabilized buildings with capped revenues are in a death spiral. Plus, we analyze the FARE Act’s impacts with the help of a new report from Open Igloo.

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

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On The Agenda

1:12: “The rent is too damn high” (and not nearly high enough)

→ Read: Howard Slatkin for Vital City

3:35: The ‘FARE Act’ effect

→ Read: Open Igloo’s NYC Summer 2025 Rent Report

5:14: Kenny joins NY1’s Inside City Hall with Errol Louis

6:09: Bill de Blasio confirms the RGB is an independent body

→ Read the full interview from The New York Editorial Board

7:09: Finding common ground with Jacobin’s Bhaskar Sunkara

→ Watch: Conversations with Coleman: Capitalist vs. Socialist on Rent Controls

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A brutal ballot fight ends with a victory for housing — and democracy.

Wed, 17 Sep 2025 10:00:00 -0400

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Plus, owners aren't holding apartments off the market because they want to, they're doing it because they can't afford not to.

And there are only two things certain in life: Death, and New York City’s unjust property tax system.

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

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On The Agenda

0:57: Housing on the Ballot: New Yorkers will vote on housing measures in November

→ Check out the Charter Revision Commission’s ballot questions here.

1:45: NYC’s Unlocking Doors program has no takers

→ Just two owners applied; they both dropped out.

3:48: “NYC retirees got burned by bets on rent-stabilized apartments”

→ Could the 2019 Rent Laws have something to do with it?

6:02: [Death] & Property Taxes

7:32: The fight over CityFHEPS

8:52: Polling & the November election: How you ask a question matters.

→ The more New Yorkers learn about Zohran Mamdani’s proposed rent freeze, the less they support it.

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Housing is back on the ballot this November

Thu, 04 Sep 2025 09:00:00 -0400

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Plus, Kenny explains the sudden boom in 99-unit apartment buildings, why housing court policy drives up rents, and whether rent freezes are even constitutional. (It depends.)

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

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On The Agenda

1:32: The Charter Revision Commission is on the ballot

2:51: The 99-unit building boom explained

5:08: HPD clogged housing pipeline encourages corruption

6:14: Housing court delays and high cost of eviction protections

7:30: Are rent freezes even constitutional?

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It’s hot out there, but rent freezes are even hotter.

Tue, 19 Aug 2025 11:00:00 -0400

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We break down the politics of the rent freeze. Plus, stick around for an excerpt of Kenny’s conversation with New Rochelle Mayor Yadira Ramos-Herbert about why they’re actually building enough housing to keep up with demand.

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

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On The Agenda

1:15: Rent Freeze politics

2:42: The Community Preservation Corporation says foreclosures and delinquencies are hitting nonprofit housing too.

→ Read more in The City & The Real Deal

3:57: City Council member Carlina Rivera will be the next leader of NYSAFAH — the New York State Association for Affordable Housing. Congrats!

4:35: Rent-stabilization experiment in Kingston hits another snag

6:04: Preview: Kenny tours New Rochelle with Mayor Yadira Ramos-Herbert to learn about her “tried and true” recipe for housing success.

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The “Most pro-housing administration in city history”? We break it down.

Tue, 05 Aug 2025 10:00:00 -0400

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Plus, New York is bucking the national trend on evictions — with far fewer than everywhere else in the country. And we propose a small tweak to the 2019 rent laws that could boost home ownership.

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

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On The Agenda

1:29: Evaluating Mayor Adams’ housing claims

3:26: Survey shows ~25% of elderly New Yorkers struggle to pay their bills

→ Report: Less than half of eligible residents are signed up for SCRIE

4:41: Why NYC needs an eviction diversion program

6:07: Unsustainable climate-change policies

8:49: Want to boost home ownership? Make co-op conversions possible again

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HNY’s 50th EP! 🥳 Cuomo calls to repeal Urstadt & NYC must expand voucher access, court rulesUntitled Episode

Tue, 22 Jul 2025 09:00:00 -0400

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We mark our 50th episode with a reflection on the year that was. Plus, federal budget cuts are coming for housing in New York.

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

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On The Agenda

2:09: Good news for city vouchers

03:28: Cuomo calls to repeal the Urstadt Law

05:10: Climate change and rent stabilization

06:55: Proposed cuts to the federal housing budget

→ Read the letter

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Inadequate rent adjustments, the Democratic primary & changes to HVS

Tue, 08 Jul 2025 11:00:00 -0400

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Plus, we recap some smart ideas proposed in Gov. Hochul’s new Aging Master Plan.

And it’s summertime, which means we’re trying to take it easy. To that end, the Housing New York podcast will now publish every two weeks through the end of August. So the next EP will drop on July 22.

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

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On The Agenda

1:22: The Rent Guidelines Board

3:37: Housing and Vacancy Survey switchup

5:05: Governor Hochul’s Master Plan for Aging

→ REGISTER HERE for City & State’s July 24 Aging Summit

6:30: NYC Charter Revision Commission’s interim report suggests changes to ULURP and open primary elections

7:39: Reflecting on the the mayoral race

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The Rent Guidelines Board’s final vote is fast approaching. Here’s what’s at stake

Tue, 24 Jun 2025 09:00:00 -0400

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And today is the last day to cast your vote for New York City’s next mayor. Get out there if you haven’t already and make a plan to stay cool because it’s really hot out there.

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

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On The Agenda

1:10: Rent Guidelines Board set to vote June 30

3:42: NYCHA is sitting on more than 8K vacant apartments

→ NYAA’s City Council testimony

4:07: Cool new Census tool: the Housing Unit Change Viewer

5:44: Kingston rent control survives legal challenge

7:30: New release: Housing New York Magazine – Q2 2025

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Election time: Rent Freeze defines mayoral race

Tue, 17 Jun 2025 09:00:00 -0400

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New York City is at a crossroads. How the city votes in this month’s mayoral election will help determine New York City housing policy for years to come.

Make a plan to vote on or ahead of June 24 – the day the polls close. The future of the city’s rent-stabilized housing stock hangs in the balance.

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

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On The Agenda

1:20: Why a rent freeze is bad for most renters — and why independent experts & The New York Times Editorial Board agree

3:08: SCRIE and DRIE: existing rent-freeze policy that actually works — and our commitment to help qualified renters access the program

4:07: The Rent Guidelines Board is not the mayor’s plaything

5:30: The FARE Act takes effect: listings pulled off StreetEasy, rent increases reported in Manhattan & REBNY’s ongoing legal challenge to the law.

6:19: NYC to end the Unit Hold Incentive

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Summer is here and the mayoral race is heating up!

Tue, 10 Jun 2025 10:00:00 -0400

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Early voting begins Saturday, June 14, so let’s all make a plan to get to the polls. Also, we look at why the Community Opportunity To Purchase Act (COPA) should concern everyone. And with summer finally here, we get into the rules and guidelines around air conditioning.

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

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On The Agenda

1:12: Mayoral race update

2:25: The FARE Act takes effect on Wednesday

→ More on what to expect

3:37: The Community Opportunity To Purchase Act (COPA)

5:37: Air conditioners: rules & guidelines

7:32: Rent Guidelines Board hearings

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A Two-Person Race For Mayor. Who Is Better On Housing Supply?

Tue, 03 Jun 2025 08:00:00 -0400

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Plus, more evidence that state housing policy passed in 2024 is failing to meet the moment; and a Trump administration plan that could upend public housing in New York City.

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

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On The Agenda

1:09: State of the mayor’s race: How the candidates plan to solve the housing crisis

→ Mamdani surges into second behind Cuomo

3:48: NYC housing wins

→ Council OKs 4,600 apartments along Atlantic Ave. in Brooklyn

4:54: The failure of 485x

6:28: Trump administration plan could displace 300,000 New Yorkers

7:34: Jolie Milstein

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“…any purchase price over $1 would be ludicrous.”

Wed, 28 May 2025 10:00:00 -0400

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Rent-stabilized buildings are approaching a ‘death spiral’. The city must act before it's too late.

Plus, co-ops are also struggling with soaring housing costs, and we take a moment to remember former Congressman and New York City legend Charlie Rangel.

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

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On The Agenda

1:21 'The Crisis Has Already Started': Inside The Finances Of 4,300 Rent-Stabilized NYC Apartments

→ Thousands of rent-stabilized NYC apartments face foreclosure in tenant ‘bloodbath’

3:24: The Rent Guidelines Board’s rare revote

→ Citizens Budget Commission: Rent-stabilized buildings approaching a “death spiral”

4:43: Co-op costs set to skyrocket

6:06: Charlie Rangel: a New York legend

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Why a rent freeze has consequences for many older buildings

Tue, 20 May 2025 13:00:00 -0400

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Plus, the urgent need to reform Housing Court and the false promise of the Community Opportunity to Purchase Act.

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

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On The Agenda

1:17 Rent freeze: the politics vs. the math

→ Watch Kenny on NY1

→ Watch Kenny on PIX11

→ Furman Center testimony

5:02: Why we must reform housing court

→ Read the report

6:26: Basement apartments

7:58: Permits to build new apartments have plummeted nationally

9:05: False Hope: the Community Opportunity To Purchase Act (COPA)

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Housing in the state budget, the White House’s proposed Section 8 cuts & more

Tue, 13 May 2025 10:00:00 -0400

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

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On The Agenda

1:04: Housing in the state budget: winners & losers

2:44: Trump budget proposal could devastate New York’s Section 8 voucher system

3:55: Reconsidering SROs and other creative living arrangements in a housing crisis

5:50: How this 1,229 unit rent-stabilized building in Harlem failed to break even

7:30: Despite pause, tariff uncertainty continues

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The Rent Guidelines Board announces preliminary rent adjustment ranges

Tue, 06 May 2025 09:00:00 -0400

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Plus, mayoral candidates are pressed on rent freeze rhetoric and we recap Kenny’s panel discussion about homelessness and vouchers.

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

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On The Agenda

1:13: Rent Guidelines Board’s April 30 meeting

3:24: RGB independence & election pandering

4:41: CityFHEPs changes & HPD’s ridiculous cost schedule

6:39: FARE Act update

7:23: Kenny speaks at HELP USA’s Upstream 2025 Solutions to Homelessness

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Renewed push for housing vouchers in the state budget

Tue, 29 Apr 2025 12:00:00 -0400

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Plus, HPD has changed the rules on a key program. We’ll tell you why this will reduce homelessness.

And don’t miss Kenny, along with Social Services Commissioner Molly Park and others, at Wednesday’s UPSTREAM 2025: Frontline Solutions to Homelessness.

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

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On The Agenda

1:10: State budget update: housing vouchers are back on the table

2:26: Grim national housing outlook

→ Denver apartment vacancies hit 15-year high

→ Austin rents have fallen for nearly two years

→ The oversupply era is over? Multifamily owners eye upside

3:12: City to ease rules on re-renting affordable apartments

→ Vacant Affordable Apartments to Now Be Filled on First-Come, First-Served Basis

4:23: Why is a 43-unit rent-stabilized building selling for less than a four-family home!?

6:21: Rent Guidelines Board update

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The Rent Guidelines Board data says 6.25% rent increase is necessary to prevent building deterioration

Tue, 22 Apr 2025 08:00:00 -0400

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Plus, a break on composting fines for some — but not large apartment building owners. And we support a Housing Court alternative.

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

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On The Agenda

1:05: RGB calls for 6.25% hike rent hike

→ 2025 Price Index of Operating Costs

2:56: Mayor Adams signs legislation to remove sheds & scaffolding

3:39: State of the State Budget: It’s still late

4:34: A partial rollback on composting fines

5:29: Housing Court is broken. We need to try an eviction diversion program instead.

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Andrew Cuomo’s housing plan, the Rent Guidelines Board & composting

Tue, 15 Apr 2025 09:00:00 -0400

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

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On The Agenda

1:05: NYU Furman Center testimony: stabilized buildings in distress

2:47: What’s next for the Rent Guidelines Board

3:56: Update: Composting fines

→ A group of NYC councilmembers push to end composting mandate

4:44: The mayor’s race: Andrew Cuomo’s housing plan is light on details

5:36: Political notebook

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For housing in the Bronx, it’s starting to feel eerily like the 1970s…

Tue, 08 Apr 2025 13:00:00 -0400

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Plus, tariffs hit housing right where it hurts, and Kenny recaps his newfound fame as the voice of reason against unfair composting fines. And for the record, we do not dispute the positive impacts of composting – just the fines.

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

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On The Agenda

1:47: Kenny’s op-ed: “Save our buildings — or the Bronx will ‘burn’ again”

3:23: Tariffs will hit housing right where it hurts

→ NAHB analysis: How tariffs impact the home building industry

5:51: State of the mayor’s race: Dem candidate Zellnor Myrie blames Andrew Cuomo for failure to build housing as governor

→ “They pushed for Cuomo to resign. Now they’re clearing his comeback path”

→ “Thousands of Jewish voters register as Dems for the NYC mayoral primary”

6:23: Gov. Hochul backs the FARE Act

7:39: Kenny has had it with NYC’s unfair composting fines

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Another year of misleading data from the Rent Guidelines Board. We correct the record.

Tue, 01 Apr 2025 10:00:00 -0400

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Plus, new scaffolding regulations, new composting fines, and New York’s looming budget crisis.

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

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On The Agenda

1:16: Correcting the record: RGB data doesn’t pass the smell test

→ 2025 Income & Expense report

3:53: City Council passes new scaffold-shed regulations

5:07: New York’s looming budget crisis

6:08: Mayoral race update

7:31: This week: Composting fines go into effect

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“We’ve turned the city into a museum.” Kenny Burgos reviews Abundance

Tue, 25 Mar 2025 10:00:00 -0400

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Plus, we welcome NYAA’s newest teammate: Senior Vice President Woody Pascal.

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

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On The Agenda

1:11: Abundance by Ezra Klein and Derek Thompson

2:59: Federal update: Shakeup at Fannie Freddie

4:07: The insatiable demand for housing vouchers

5:38: The Rent Guidelines Board meets on Thursday

→ Last year’s Income & Expense report data

7:39: Some good news: Introducing NYAA Senior Vice President Woody Pascal

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We wish the new RGB members good luck… it’s a tough job.

Tue, 18 Mar 2025 13:00:00 -0400

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Plus, we explain why New York can no longer rely on federal funding, so politicians should change their thinking.

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

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On The Agenda

0:57: Mayor Adams announces new Rent Guidelines Board members

2:35: Climate law compliance: LL97 & why building owners might not comply

4:09: Feds rescind funding for nonprofit homeless housing

5:29: New documents shed light on Signature Bank failure

7:17: Housing permitting is down

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New York politicians ‘government brain’ on housing, and why nobody talks about breaking the 5% vacancy rate threshold

Tue, 11 Mar 2025 10:00:00 -0400

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Plus, delays in Section 8 voucher payments blamed on federal ‘chaos,’ and there’s a new deputy mayor in town.

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

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On The Agenda

1:42: Lenders are refusing to finance older rent-stabilized buildings

3:13: Adolfo Carrión named deputy mayor for housing

4:39: Federal ‘chaos’ blamed for Section 8 delay

6:00: Gas-detector compliance deadline is May 1

7:12: Brad Lander and ‘government brain’

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Andrew Cuomo’s record on housing, federal uncertainty & buildings in decline

Tue, 04 Mar 2025 10:00:00 -0500

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Plus, the skinny on HPD’s lead-based paint rules.

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

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On The Agenda

1:34 Gov. Andrew Cuomo enters the mayor’s race

3:58: HUD cuts expected (and projected)

5:42: New rules finalized on lead-based paint

7:44: Insurance compacts

8:53: Buildings in decline

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Waiting for clarity on City Hall, the sprinkler systems debate & LLC compliance

Tue, 25 Feb 2025 10:00:00 -0500

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Plus, it’s been the coldest winter in a decade. We explain why so many NYC buildings experience uneven heating distribution, and why most 311 heat complaints come to nothing.

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

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On The Agenda

1:32: City Hall update

2:43: A welcome update on ConEd’s proposed rate hike

3:50: Mandatory sprinkler systems proposal

5:05: LLC compliance update

6:03: The coldest winter in a decade

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Mayor Adams has 99 problems & at least one is gonna be bad for housing policy

Wed, 19 Feb 2025 07:00:00 -0500

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Plus, we’ll look at why SCRIE and DRIE are great programs that should be expanded, and listen for a mea culpa from Kenny about our comments on energy prices last week.

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

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On The Agenda

1:32: Chaos at City Hall

3:18: SCRIE & DRIE

4:21: HPD launches ‘J-51’ portal

6:06: NYC Charter Commission

8:03: ConEd & Gov. Kathy Hochul

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Section 8 chaos, energy price hikes & political hypocrisy

Tue, 11 Feb 2025 10:00:00 -0500

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Plus, what’s worse than Hurricane Sandy? We look at New York City’s 15-year flood risk.

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

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On The Agenda

1:29: Section 8 chaos

→ Delayed NYCHA payments have resumed

3:12: Energy price spikes & political hypocrisy

→ Con Ed proposes double-digit hike for 2026

→ The utility raised electric rates 9.1% in 2023

→ Wardean Squire-Askew’s story

5:24: Flood Report: NYC could see LA-level housing loss in the next decade

7:00: Will Good Cause Eviction raise New Yorkers’ rents?

→ Meanwhile, Upstate: Syracuse Common Council withdraws Good Cause Eviction proposal

8:03: Albany lawmakers bullish on Housing Access Voucher Program (HAVP), but Gov. Hochul says program is too expensive

→ Plus, Kenny rejects the premise that housing vouchers are inherently discriminatory (Read the original story)

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“Scary and completely unsustainable.” Rent-stabilized buildings can’t pay their mortgages & the banks holding their loans are in serious trouble

Tue, 04 Feb 2025 09:00:00 -0500

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Plus, why does rebuilding after a fire take so long? And New York is the only place we know that ties rent stabilization to a perpetual housing emergency – thereby maintaining a perpetual disincentive to build new housing.

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

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On The Agenda

1:34: Rent-stabilized buildings & the banks holding their loans are in serious trouble

→ Flagstar, formerly NYCB, dumps $142M in rent-stabilized loans

→ Flagstar reports 500% pop in past due debts as rent-stabilized purge continues

→ Bank’s multifamily loans at default risk skyrocket

→ SEC asks New York banks to reveal their exposure to rent-stabilized loans

→ Extend-and-pretend still reigns supreme

3:32: Why it takes so long to rebuild after a fire

5:23: Glorifying rent-stabilized tenants (and what gets lost)

6:48: The latest on rent stabilization in Kingston

8:35: Albany legislative session

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Mostly crickets from Albany on housing, as governor floats quarter-trillion dollar spending plan

Tue, 28 Jan 2025 12:00:00 -0500

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Plus, more evidence that voucher holders are struggling to connect with housing, the latest on TENNY’s lawsuit over unfair property taxes, and some context regarding the Worst Landlords List.

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

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Send us comments or questions at podcast@housingny.org

On The Agenda

1:29: Few housing surprises in Gov. Kathy Hochul’s $252 billion budget proposal

2:47: Voucher woes

→ New York City Mayor Eric Adams pledged some 12,000 new vouchers in 2024, but NYCHA only dispersed about 1,500 vouchers among the 200,000-odd households on the waitlist. Today, just 134 of those new voucher holders have found a place to live.

→ The case for an Abundance Agenda

4:21: TENNY lawsuit latest

→ Tax Equity Now New York filed a motion for summary judgment to force the city to change how some property values are calculated, ahead of the Feb. 20th deadline before which the city must notify property owners about any tax increases.

5:59: Queens squatter pleads guilty

7:15: Rezoning Midtown for housing

8:39: The Worst Landlords List isn’t helpful

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SEC says 2019 Rent Laws tanked rent-stabilized building valuations

Wed, 22 Jan 2025 10:00:00 -0500

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Thousands 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.

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On The Agenda

1:23: SEC investigates NY banks’ exposure to “toxic” rent-stabilized loans

→ Read the letter here

3:07: City continues to raise taxes on rent-stabilized buildings

4:42: Kathy Hochul’s State of the State Address

6:14: 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

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Preview: A new legislative session gets under way in Albany

Tue, 14 Jan 2025 10:00:00 -0500

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The 2025 session is upon us, and while we’re hoping state lawmakers take up new housing legislation again in 2025, we’re not counting on it.

Plus, we look at Mayor Adams’ State of the City, and highlight the major reason behind a decline in co-op conversions.

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

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On The Agenda

1:28: The view from Albany

2:47: Mayor Adams’ State of the City

4:29: Campaign contributions: Is the ‘real estate pledge’ really dead?

5:45: ‘Warehousing’ – or lack-thereof

7:41: Co-op & condo conversions have stalled out. Let’s change that.

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Preview: State of the City, State of the State & the sorry state of rent-stabilized housing

Tue, 07 Jan 2025 10:00:00 -0500

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Happy New Year! We’re back and ready to fight harder than ever for housing abundance in 2025.

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

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On The Agenda

1:16: Office of Rent Administration Annual Report

Go deeper: Kenny breaks down operating costs in SF vs. NY

3:18: Preview: State of City & State of the State

4:42: New York’s Census crisis is New York’s housing crisis

6:12: Safe e-bike charging initiative

7:39: Kingston Mayor Steve Noble’s open letter to the Common Council

Update: Common Council tables resolution lowering affordable rent definition

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‘Demand more. Demand better.’ A new vision for housing in New York

Fri, 27 Dec 2024 10:00:00 -0500

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The citywide housing reforms passed in 2024 are a welcome step in the right direction.

New York Apartment Association CEO Kenny Burgos takes stock of the year in housing, and calls on all New Yorkers to demand bold leadership and smarter solutions from lawmakers in 2025.

We see a future where New York housing is abundant, high-quality and affordable. But we must first find the courage to pass the pro-growth policies at a scale necessary to beat this housing crisis.

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On The Agenda

1:15: Housing in the State Budget (485x, Good Cause Eviction & IAIs)

3:10: Housing in the Courts (LeFrak & TENNY lawsuits, SCOTUS rulings)

4:35: The Rent Guidelines Board

6:43: Housing in New York City (City of Yes, vouchers, J-51 & the FARE Act)

8:50: NYAA launch

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Mayor Adams announces new Charter Review Commission for housing

Tue, 17 Dec 2024 10:00:00 -0500

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Plus, comptroller and mayoral candidate Brad Lander weighs in on the housing crisis, and what’s going on in Kingston?

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

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On The Agenda

1:16: Mayor announces another Charter Commission

2:47: Could broker-fee ban really create a black market?

4:32: The comptroller’s housing pitch

6:41: What’s up with Kingston?

8:09: Housing violations lead to $6.5 million settlement

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Mayoral candidates discuss housing & the RGB

Tue, 10 Dec 2024 10:00:00 -0500

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Plus there’s a new J-51 Tax Break in town, and The Times reports mortgage regulators are turning a blind eye to climate risk.

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

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On The Agenda

01:26: Mayoral forum includes housing discussion

02:55: City Council restarts J-51 tax break, with amendments

05:10: Bankruptcy data for rent-stabilized buildings (or lack thereof)

06:17: Climate change: Mortgage Regulators Are Shrugging Off Climate Risk

07:47: Is rental inflation solvable in New York City?

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Rent stabilization stopped in Poughkeepsie, City of Yes & more

Tue, 03 Dec 2024 09:00:00 -0500

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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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“Better than nothing.” Amended ‘City of Yes’ set to pass City Council

Tue, 26 Nov 2024 10:00:00 -0500

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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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Rent-stabilized housing is in deep trouble, the FARE Act passes & more

Tue, 19 Nov 2024 10:00:00 -0500

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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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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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Election-day reckonings, inflation & New York City’s broken housing market

Wed, 13 Nov 2024 10:00:00 -0500

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

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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 bad and the good on housing vouchers, City For All, and more

Tue, 05 Nov 2024 09:00:00 -0500

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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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Vist our website for more information.

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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Building requirements, broker fees & how the Rent Guidelines Board really works

Tue, 29 Oct 2024 09:00:00 -0400

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

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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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We cannot drop the ball on City of Yes

Tue, 22 Oct 2024 10:00:00 -0400

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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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Kenny Burgos talks City of Yes, declining apartment values and insurance fraud

Wed, 16 Oct 2024 08:00:00 -0400

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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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Introducing New York Apartment Association CEO Kenny Burgos

Wed, 09 Oct 2024 17:00:00 -0400

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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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Throwing cold water on the City Council's proposal to tackle heat

Thu, 25 Jul 2024 06:00:00 -0400

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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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RGB defunds buildings, again.

Wed, 19 Jun 2024 06:00:00 -0400

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The NYC Rent Guidelines Board voted Monday to raise rents by 2.75% on one-year leases and 5.25% on two-year leases – not nearly enough to cover the skyrocketing cost of maintaining a rent stabilized building.

That didn’t stop tenant advocates from protesting the increase: board members were heckled, protesters were arrested, and the unsustainable status quo was extended for another year.

This week on Housing New York, Jay looks at how intense political pressure has corrupted the rent guidelines process and what might be done to fix it.

Stories cited in this episode:

amNY: Renters want vouchers. Lawmakers should take notice.

Gothamist: Trifecta of NYC utility hikes could bring double-digit increases: What to know

City Limits: NYC Council Asks: Who Should Pay the Broker Fee?

The Real Deal: Real estate winners and losers in NY legislative session

Gothamist: NYC buildings inspector pleads guilty to accepting bribes, Queens DA says

Times Union: DOJ settles with company N.Y. hired to handle rental assistance

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New York City Council wants billions for affordable housing nonprofits

Wed, 29 May 2024 09:00:00 -0400

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The New York City Rent Guidelines Board begins public hearings this week and as always, we’re expecting an unhelpful spectacle. Meanwhile, the City Council is in the middle of budget negotiations, and members are pushing to spend billions on transferring ownership of rent-stabilized buildings to nonprofits. Given the current costs of maintaining these buildings, how these nonprofits would remain solvent remains to be seen.

Stories cited in this episode:

The Daily News: The Rent Guidelines Board must keep rents down
The City: Regulated Apartments Vanish at Rising Rate, Rent Board Learns as It Readies Hike Vote

City Limits: Council Pushes for More Housing Funds As City Budget Negotiations Enter Final Weeks

The Real Deal: Nonprofit Developers Back Progressives’ Housing Funding Plan

The Real Deal: NYC pension fund pumps $60M investment into Signature loans

Gothamist: 64 office buildings in NYC could become new housing

City & State: Progressives launch campaign to get upstate cities to opt in to ‘good cause’ law

The City: NYC Property Owners Could See Their Water Bill Rise by 8.5%

BisNow: Unpaid Rent Is Still Piling Up, Threatening The Future Of NYC’s Affordable Housing

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Improving housing vouchers and tackling homelessness with special guest Shams DaBaron

Fri, 17 May 2024 03:00:00 -0400

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Housing New York sheds light on the politics and the public policy shaping the future of New York City housing.

This week, Jay speaks with Shams DaBaron, aka ‘Da Homeless Hero,’ a homelessness advocate fighting to expand, and reform, housing voucher programs in New York City.

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Late and not great… Framework of a conceptual deal lacking

Thu, 18 Apr 2024 07:00:00 -0400

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Housing New York sheds light on the politics and the public policy shaping the future of New York City housing.

This week, Gov. Kathy Hochul congratulates herself and fellow lawmakers on reaching the “parameters of a conceptual housing agreement” in the FY2025 state budget… But we still haven’t seen details. Jay explains why a proposal to bring the glut of permanently vacant rent-stabilized apartments back onto the market just doesn’t add up. And he laments the political shenanigans that obstruct the past to good housing policy.

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2019 all over again.

Thu, 11 Apr 2024 19:00:00 -0400

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Across the city, rent-stabilized owners are getting squeezed between rising costs and stagnant rental income. When will running a rental property become untenable? For some, it already has. Jay looks at the disastrous impact of the 2019 rent laws on New York’s atrophying housing stock.

Housing New York sheds light on the politics and the public policy shaping the future of New York City housing.

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YIMBYs, NIMBYs AND FYIMBYs

Tue, 02 Apr 2024 06:00:00 -0400

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In this episode we break down the Rent Guidelines Board’s most recent Income & Expense report, which shows a continued decline in net operating income for older rent stabilized buildings; look at the dramatic rise in unpaid New York City property taxes as a classic canary-in-the-coal-mine scenario; and wonder out loud if the new, ostensibly YIMBY super PAC Abundant New York is really as pro-housing as it claims to be.

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Property tax reform? Kingston rent regs and rollbacks ... Skyrocketing costs ... and more!

Mon, 25 Mar 2024 22:00:00 -0400

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Housing New York sheds light on the politics and the public policy shaping the future of New York City housing.

In this episode we look at the real-life implications of New York's broken housing voucher system; what the New York City Council's 19th housing emergency declaration really means; the skyrocketing costs associated with maintaining a rental property, and much more.

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One step closer to budget deal and housing package

Fri, 15 Mar 2024 07:00:00 -0400

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Each week we provide analysis of all the news you need to know about New York's ongoing housing crisis.

This week we'll cover some of the good, the bad and the ugly happening in New York housing. The good? We're one step closer to a state budget deal and hopefully a housing package. The bad... politicians are manipulating data for their own political agenda and downplaying the actual issues; and the ugly: bad landlords who cast a negative light on the many good owners out there.

Shoutout to CNBC's Leslie Picker for her recent reporting on the fallout from New York City's rent stabilization law.

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421a to play big role in NYS budget? Housing vacancy survey results, NYCB in crisis, & much more...

Thu, 07 Mar 2024 22:00:00 -0500

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It's been a rough year for rent stabilized housing and it's been a rough year for New York Community Bank, which is struggling to stay afloat amid news of a very bad fourth quarter.

The link between NYCB's woes and rent stabilized apartments in distress cannot be overlooked; any bank holding these loans may find itself in a precarious position.

So what's Albany doing about it?

Join us each week as we explore the latest developments and challenges in the country’s biggest real estate market.

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New York’s housing crisis and the approaching 2024 budget deadline

Tue, 05 Mar 2024 10:00:00 -0500

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Four weeks to go until the New York state budget deadline and the question on everyone’s mind, is will we get a housing package?

A budget deal is New York's best shot at securing new housing legislation in 2024.

But lawmakers and the governor remain at odds over a host of issues, and it's unclear if they're willing to set aside their differences in the interest of the greater good.

Jay Martin explains the situation, the stakes, and a whole lot more in this very first episode of Housing New York.

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