“Crisis management:” James Whelan talks REBNY priorities

The trade group has called on the city and state for relief as the industry grapples with the coronavirus pandemic

Real Estate Board of New York President James Whelan says the coronavirus has transformed his role into “crisis management seven days a week.”

Sign Up for the undefined Newsletter

Whelan spoke with The Real Deal this week about what guidance the trade group is providing its members and how the real estate industry is adapting to new restrictions on business. Due to an executive order signed last week by Gov. Andrew Cuomo, brokers must conduct showings of apartments or commercial space virtually.

Meanwhile, many New Yorkers who have suddenly found themselves out of work are struggling to keep up with rent payments. While the state has called on banks to grant forbearance to homeowners on their mortgage payments, multifamily and commercial landlords have not been given the same break.

Read more

(Credit: iStock)
Popular
New York
REBNY orders days on market calculation to stop for resi listings
Gov. Andrew Cuomo (Credit: Bennett Raglin/Getty Images)
Politics
New York
Cuomo says NY “took care of rent issue,” but has no policy in place
Governor Andrew Cuomo (Credit: Getty Images, iStock, and Pixabay)
Politics
New York
Cuomo’s executive order tells banks to give homeowners a break
From left: BHS' Bess Freedman, Halstead's Diane Ramirez, Cororan's Pam Liemban and REBNY's James Whelan (Credit: Getty Images
Popular
New York
REBNY considers lending cash to brokers affected by coronavirus
Restaurants and landlords are facing mass closures and significant losses in revenue. (Credit: iStock)
Commercial
New York
Bar-maggedon: NYC restaurants, landlords grapple with shutdown