Tenant advocates jittery after Sheldon Silver’s arrest

Speaker is backer of a number of rent-regulation laws that are now up for renewal

TRD New York /
Jan.January 26, 2015 08:30 AM

Tenant advocates are worried about the future of rent-regulation laws following Assembly Speaker Sheldon Silver’s arrest.

While Silver is expected to continue his work as speaker, it’s unclear what his role will be during the upcoming session in Albany, according to the Wall Street Journal. Rent-regulation laws, as well as legislation governing a number of housing programs, are expiring in June.

“Whatever it is, it is not good,” longtime tenant advocate Michael McKee told the newspaper. “We have been counting on the Assembly to deliver for tenants this year and stop the loss of affordable housing.”

One of those programs is the 421-a tax abatement — a measure that’s very popular with the real estate industry. The program offers a tax break to developers who add affordable housing to their projects. The J-51 tax abatement for rehabilitating older buildings and a tax abatement for many individual owners of co-op and condos are also on the agenda, according to the Journal.

“Speaker Silver has always fought for stronger rent regulation and will continue to fight for tenants,” a spokesperson for the speaker told the newspaper. He added that the arrest and subsequent investigation has “absolutely no impact on what we are trying to accomplish, namely stronger rent protections.” [WSJ] — Claire Moses


Related Articles

arrow_forward_ios
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
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

New NYC rent law “beginning to shut down investment”
(iStock)

New Yorkers’ exodus could unravel rent regulation

New Yorkers’ exodus could unravel rent regulation
2 Pierrepont Street in Brooklyn and Vincent Viola (Google Maps, Getty)

Ex-Trump nominee broke rent stabilization laws at his Brooklyn Heights building: lawsuit

Ex-Trump nominee broke rent stabilization laws at his Brooklyn Heights building: lawsuit
After the rent law of 2019 passed, multifamily market values plummeted. But tax assessments are unchanged (Credit: iStock)

Rent law dented property values – but not tax assessments

Rent law dented property values – but not tax assessments
The Court of Appeals ruled today that a portion of New York’s rent law violates due process. (Credit: iStock; UpstateNYer via Wikipedia Commons)

State’s highest court strikes down portion of rent law

State’s highest court strikes down portion of rent law
REBNY president James Whelan (Credit: Whelan by Evan Gutierrez)

NYC’s biggest landlords pledge to halt evictions for three months

NYC’s biggest landlords pledge to halt evictions for three months
arrow_forward_ios

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

Loading...