New broker fee law in NYC is being ignored by crafty real estate agents, claim tenants: ‘Taking advantage of a loophole’
This issue goes beyond the surface. Landlords in New York City are employing deceptive methods to bypass new regulations that ban renters from being charged broker fees, as reported. Numerous prospective tenants are encountering unexpected “management” or “technology” fees that seem oddly reminiscent of traditional broker fees that they used to pay. “They really know […]
Rent Board’s rules on lease increases won’t help tenants, according to landlords.
Recently, the Rent Guidelines Committee moved closer to harming the housing market by proposing rent increases that fall below what landlords need to cover their costs. Most members, appointed by Mayor Eric Adams, have tentatively approved rent hikes of 1.75% to 4.75% for two-year leases, and 4.75% to 7.75% for one-year leases. The board is […]
Inside Jordon Hudson’s $8M rental empire — where her tenants are stunned she’s their landlord: ‘Isn’t she 24?’
BOSTON – Pioneering landlord Jordon Hudson is charging the best dollars for her $8 million luxury Boston Real Estate Empire apartment. And her tenants were gobsmacked to find out that their rent checks would go to the 24-year-old girlfriend of patriot legend Bill Belichick. “I was scrolling through the X and looking at our home […]
Cuomo is ‘landlords’ favorite candidate,’ lefty NYC mayoral hopefuls and tenants say, slamming ex-gov’s housing record
Andrew Cuomo is “a favorite landlord candidate,” a left-handed opponent in the New York City mayoral race, and tenant supporters argued Friday. Slate and supporters, the leading Democratic candidate, approved by the Left Workers and Family Party, held a joint rally outside city hall, shed light on what she said was Cuomo’s shady housing policy […]
‘Shady’ $7B Biden climate slush fund recipient facilitated NY low-income housing sale that hiked rents, forced out residents: tenants
WASHINGTON — A New York woman, a woman expected to earn nearly $7 billion from the Biden administration's Climate Slash Fund, was once forced through the sale of low-income housing complexes in Westchester County, and has grown by up to 80%, making it unable to spend many tenants. SADIE MCKEOWN – a Democratic donors He […]
NYC real estate industry squaring up to battle new law protecting tenants from broker fees
If you are not a broker, do not modify it. Big Apple real estate agents are suing the city over a new law that forces tenants to pay higher brokerage fees, but the lawsuit could prevent the law from taking effect this summer as planned. A group of Big Apple brokers is suing the city […]
NYC office market roars back to life, sending tenants scrambling
From the crash of 2020 to the boom of 2024. Manhattan's office market has made a remarkable recovery from the pandemic-induced downturn, and space is so tight that tenants looking to relocate or expand are having trouble. Companies such as Singapore-based sovereign wealth fund Temasek, which has 27,000 square feet of space in the Seagram […]
Brookfield taps leasing giant JLL to find tenants for nearly full Manhattan West towers
Brookfield Properties, with most of its three largest office towers leased for rents well above $100 per square foot, is building a 700-storey building between East Pennsylvania Station and its affiliate Hudson Yards. The world doesn't seem to care about million square feet of development. To the west. Still, leases don't last forever, and there […]
NYC luxury residential tower to feature secret ‘trophy’ space for commercial tenants
When does over 200,000 square feet of new office space opening in the middle of a tough market go unnoticed? When they're inside an eye-catching, 1,000-foot-tall, mostly apartment skyscraper on Fifth Avenue. Due for completion next year, the Lavina-led project at 520 Fifth Avenue is best known for offering 100 luxury condominiums. The KPF-designed tower […]
Two new tenants at famed NYC towers bolster luxury retail market
Two significant new leases have been signed in prime Midtown locations, providing a boost to Manhattan's overall luxury retail market and landlords. In a post-pandemic world of omerta, sources must remain anonymous. Strict non-disclosure agreements do little to keep information confidential and significantly reduce lawyers' billable hours. Our spies have revealed that Bonhams, the venerable […]