search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud
New York

City Council members want state to repeal vacancy decontrol

Sign Up for the undefined Newsletter

A group of City Council members, led by Christine Quinn, announced the introduction of legislation yesterday to make the state legislature repeal vacancy decontrol, and kill the law allowing Albany to set rent regulations for the city. Quinn blamed her City Council predecessors for authorizing vacancy decontrol in 1993, a move she said that drove 300,000 affordable apartments out of rent-stabilization protection. Quinn said the current state laws encourage landlords to pressure tenants to leave so they can rent out apartments for more money.