On January 25, 2023, the White House released a “Blueprint for a Renters Bill of Rights” and a statement titled “New Actions to Protect Renters and Promote Rental Affordability." The guidance lays out the Biden Administration’s plan for sweeping tenant protections...
Rosenberg & Estis
PHFL Amendment Allows for Collection of Higher Rents in Certain Affordable Housing Projects
In December 2022 the New York State Private Housing Finance Law (PHFL) was amended to allow owners of affordable housing properties to collect rents above the Legal Regulated Rent so long as a Regulatory Agreement is in place with a State or Municipal Agency, Public...
NYC Property Tax Update With New 2023-2024 Assessments
The NYC Department of Finance (DOF) released the 2023/24 tentative assessment roll on January 17, 2023. The Tax Commission application filing deadline to protest your assessed value is March 1, 2023. Market values and taxable values increased for tax classes 2 and 4...
Important Change to NYC Subsidy Program for Applicants for Affordable Housing Units
Please be advised that NYC has expanded the Augmented CityFHEPS subsidy program to include applicants in the Housing Connect lottery system qualifying for CityFHEPS benefits and currently residing in a DHS shelter. Augmented CityFHEPS will pay the advertised rent...
Rosenberg & Estis, P.C. Holiday Party
R&E held its 2022 Holiday Party at Charlie Palmer Steak One Bryant Park. During his speech, Managing Member Michael E. Lefkowitz highlighted the firm’s average length of employment… 11.5 years. Here is a group photo of staff and attorneys whose work anniversaries...
“421-a: Wage Issues” Webinar (Part 1 of 3), presented by Daniel M. Bernstein
Daniel M. Bernstein, Member and Leader of R&E's Tax Incentives & Affordable Housing Department, Member, presented a “421-a: Wage Issues” Webinar (Part 1 of 3), focusing on wage obligations (prevailing wage obligations for building service employees and...
Public Hearing (Local Law 18) – Mayor’s Office of Special Enforcement
Adam Lindenbaum was invited to speak at a Public Hearing held by the Mayor’s Office of Special Enforcement addressing Local Law 18, which will tighten restrictions on the short-term residential rental market in an attempt to restore NYC’s stock of affordable housing...
Charles R. Pierce, Jr. Presents At 2022 North American Construction Law Symposium IV
Charles R. Pierce, Jr., Member & Head of R&E’s Construction Law Department, was a speaker at the Construction Lawyers Society of America’s 2022 North American Construction Law Symposium IV. His presentation, “The Price Still Isn’t Right: Strategies for Price...
Rosenberg & Estis, P.C. Submits Written Testimony at DHCR’s Public Hearing on Proposed RSC Amendments
On November 15, 2022, DHCR held a public hearing concerning the agency’s proposed amendments to the Rent Stabilization Code (“RSC”), as required by the State Administrative Procedure Act (SAPA). Our review of the proposed RSC amendments showed that DHCR had exceeded...
Arielle Frost Moderator at Bisnow’s NYC State of the Market
R&E Member Arielle Frost moderated the fourth panel, “Filling the Capital Stack: Creative Joint Ventures to Close Deals,” at Bisnow’s NYC State of the Market event on November 15, 2022. The panel addressed how increasingly creative uses and structuring of joint...