Knakal and housing advocate debate Albany rent proposals

TRD New York /
Mar.March 28, 2011 12:27 PM

 

Over the weekend in Albany, legislators and Governor Andrew Cuomo hammered out a budget deal, but they have yet to resolve the complex issue of extending the state law covering apartment rent regulations which sunset in June.

Commercial sales broker Robert Knakal, chairman of Massey Knakal Realty Services, and Maggie Russell-Ciardi, executive director of the advocacy group New York State Tenants & Neighbors Coalition, spar over rent regulation issues in this week’s Insights from The Real Deal (see video above).

They debate the idea floated by Steven Spinola, president of the Real Estate Board of New York, of raising the $2,000 threshold for decontrolling apartments, as well as the New York State Court of Appeals ruling concerning the tax abatement known as J-51. The decision determined that some landlords had improperly raised rents on their tenants while receiving the financial incentive.

The current law laying out state rent regulations was last extended in 2003 and is set to expire June 15. Although lawmakers are expected to pass some version of the measure, elected officials are debating which provisions to include.


Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Owners of some residential properties can’t hide behind
LLCs anymore
Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws

Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws

Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
Bill de Blasio and Andrew Cuomo, with (from left) Steven Roth, Jeff Blau, Rob Speyer, Douglas Durst, Ziel Feldman and Steven Schwarzman (Getty)

Real estate execs to city, state: Let us help with recovery efforts

Real estate execs to city, state: Let us help with recovery efforts
A lawsuit seeks to dismantle Gov, Andrew Cuomo’s midnight food curfew by arguing coronavirus is not a vampire (Getty; iStock)

Nail in the coffin: Eatery says Cuomo’s biz-killing curfew treats virus like vampire

Nail in the coffin: Eatery says Cuomo’s biz-killing curfew treats virus like vampire
Gov. Andrew Cuomo and Attorney General Letitia James (Getty)

Last-minute reprieve stops city’s tax lien sale

Last-minute reprieve stops city’s tax lien sale
(iStock)

Malls to reopen, but what can shoppers expect?

Malls to reopen, but what can shoppers expect?
Gov. Andrew Cuomo (Getty)

NY Fashion Week gets go-ahead with (very) strict limits

NY Fashion Week gets go-ahead with (very) strict limits
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...