Critics push back on REBNY’s landmarking claim

Report shows protected buildings lost rent-regulated units at higher rates than non-protected ones

New York /
Sep.September 15, 2015 09:15 AM

Advocates look to landmarking to protect the city’s affordable housing stock. The Real Estate Board of New York isn’t buying it, but preservations are pushing back in turn.

A new REBNY report released Monday stated that from 2007 to 2014, buildings in landmarked districts saw 23 percent of their 44,430 rent-stabilized apartments go market-rate, compared to only 5 percent of the 821,250 regulated units in non-landmarked areas.

Greenwich Village, which lost 1,432 rent-stabilized units, and the Upper West Side, which lost 2,730, were the hardest hit neighborhoods proportionally.

“This report refutes the notion that historic districts are a good means of preserving existing affordable housing,” said REBNY President John Banks in a statement.

Preservationists pushed back, however.

“Without landmarking, many of these areas would have seen the wholesale demolition of buildings, including those with rent-stabilized housing.  It’s clear on its face that many more units of rent-stabilized housing would have been lost in these areas,” wrote Andrew Berman, head of the Greenwich Village Society for Historic Preservation, in a statement. – Ariel Stulberg


Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)
Nonprofit plans affordable housing development near Essex Crossing
Nonprofit plans affordable housing development near Essex Crossing
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
John Banks
High expectations: A look at John Banks’ 4 years at REBNY
High expectations: A look at John Banks’ 4 years at REBNY
Paul Fishbein pretended to own properties across the city, pocketing rental assistance checks in the process, authorities said. (Getty)
Landlord imposter pocketed $1.5M in rental assistance: Authorities
Landlord imposter pocketed $1.5M in rental assistance: Authorities
Gov. Andrew Cuomo, Andrea Stewart-Cousins and Carl Heastie (Getty; iStock/Illustration by Kevin Rebong for The Real Deal)
Landlords’ building emissions workaround is dead
Landlords’ building emissions workaround is dead
From left: Assembly member Harvey Epstein, State Sen. Julia Salazar,  MBA's Mike Flood and REBNY's James Whelan (Getty, Anuja Shakya/Whelan, MBA/Flood)
Real estate makes last-minute push to kill proposed preferred equity tax
Real estate makes last-minute push to kill proposed preferred equity tax
City Council member Justin Brannan (Getty, Justin Brannan via Facebook)
Council member wants to take up office-to-resi conversions debate
Council member wants to take up office-to-resi conversions debate
Veev CEO Amit Hallar (Veet, iStock)
Modular housing startup Veev raises $100M to build homes faster, cheaper
Modular housing startup Veev raises $100M to build homes faster, cheaper
arrow_forward_ios

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

Loading...