The July issue is live!

Inside: The tenant harassment crackdown, climate change's impact on RE & more

New York /
Jul.July 03, 2017 11:47 AM
 

Last month, landlord Steve Croman stood before a New York State Supreme Court judge and pleaded guilty to fraud and larceny charges. With that plea, he agreed to spend a year in a cell at Rikers Island.

It was a spectacular fall from grace for Croman, a landlord who built the largest multifamily portfolio in the East Village, but whose alleged strong-arm tactics on rent-stabilized tenants earned him the title of the “Bernie Madoff of landlords.”

For our cover story this month, “Life after Croman,” we look at efforts to stop tenant harassment in New York City. While lawmakers push for stricter laws to stop landlords’ criminal behavior — a move that may have a major impact on the city’s approximately 1 million rent-stabilized apartments — the industry is divided over the heightened crackdown. Lawyers, investors, landlords and lobbyists told The Real Deal there’s a growing sense the deck is becoming stacked against property owners, and that tough new laws could criminalize honest landlords. On the other side, tenant advocates and Democratic politicians say the current laws provide an easy way for landlords to amass wealth.

Meanwhile, in our story “New York Underwater,” we ask the question: What could the real estate industry lose by failing to take a formal position on climate change?

We also profile RFR co-founder Aby Rosen, examine what slipping agent commissions means for residential brokerages and take a closer look at the Brooklyn office pipeline.

There are stories on the niche rental sector of co-living, the issue of lender liabilty when borrowers force out rent-stabilized tenants and a look at how the city is emerging as the Holy Grail among self-storage developers.

Elsewhere in the issue, we look at the rise of the grown-up roommate and rank residential firms that are closing the most sales in Queens and the Bronx.

Finally in our Closing, the managing principal of Metro Loft Management Nathan Berman talks about moving from Western Ukraine — the former USSR — to New York City in the 1970s, buying a 40-foot VanDutch yacht and his decision to vote for Donald Trump.

To read the July issue of TRD, click here or on the “Magazine” tab on the top left of the homepage. Enjoy! — Miriam Hall


Related Articles

arrow_forward_ios
Taconic, Nuveen pay $70M for UES office building
Taconic, Nuveen pay $70M for UES office building
Taconic, Nuveen pay $70M for UES office building
RE/MAX reaches record revenue of $91M with $25M net loss
Despite hot market and revenue growth, RE/MAX loses $25M
Despite hot market and revenue growth, RE/MAX loses $25M
Almost half of NYC buildings received either a D or F grade (Getty)
48% of NYC buildings fail on energy efficiency
48% of NYC buildings fail on energy efficiency
Durst Organization Chairman Douglas Durst and Port Authority Chairman Kevin O’Toole (Getty, O'Toole Scrivo)
1 WTC set for $700M refinancing
1 WTC set for $700M refinancing
Zillow selling half of iBought homes, will buy back $750M shares
Zillow selling half of iBought homes, will buy back $750M shares
Zillow selling half of iBought homes, will buy back $750M shares
Dollar General to open 1k stores aimed at wealthier, more suburban shoppers
Dollar General to open 1k stores aimed at wealthier, more suburban shoppers
Dollar General to open 1k stores aimed at wealthier, more suburban shoppers
TRD’s December issue is live for subscribers!
TRD’s December issue is live for subscribers!
TRD’s December issue is live for subscribers!
(Facebook via The Palms Hotel Fire Island)
Fire (Island) sale: Palms Hotel hits the market
Fire (Island) sale: Palms Hotel hits the market
arrow_forward_ios

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

Loading...