Homix Newsroom
Developments across New York City, Long Island, New Jersey, and the surrounding market that materially affect buyers, sellers, renters, and owners.
The Mamdani administration has introduced an expedited Housing Court process for certain cases involving broad vacate orders, severe essential-service violations, elevator outages and qualifying Article 7A proceedings. Eligible cases are expected to involve 40 to 50 buildings a year.
Tenant advocates filed in support of New York City’s 0% rent-stabilized lease-renewal increase, countering landlords’ claim that the Rent Guidelines Board acted unlawfully.
A&E Real Estate’s CMBS loan tied to a 53-building New York City portfolio remains in default and foreclosure proceedings are ongoing. The portfolio is largely rent-stabilized, while reported operating costs have risen faster than revenue ahead of a rent freeze scheduled for October.
