New York Metro Real Estate

05/26/2026

Mamdani Looking Away from Thousands of Vacant Apartments

In a New York Post op-ed, American Enterprise Institute fellow Howard Husock argues that Mayor Mamdani’s housing reforms are missing the forest for the trees. While the administration announced new measures to speed up the affordable housing lottery, Husock argues the real solution is addressing the tens of thousands vacant “zombie” rent-stabilized apartments sitting offline because the 2019 housing law made it impossible for owners to afford the repairs needed to rent them.

He also raises an important question: is the administration’s rent freeze strategy intentionally designed to push distressed owners into default so the city can take ownership of their buildings essentially recreating the housing crisis of the 1980s when the city became de facto landlord to 100,000 apartments?

-New York Apartment Association

05/05/2026

From the NY Apartment Association:

London Tried This Already

London spent a decade piling taxes onto second homes and luxury properties, and the result was a 20% drop in property values, a mass exit of international buyers, thousands of apartments pulled off the market by smaller landlords, and rents hitting record highs for everyday residents. Economists and real estate agents are now warning New York could follow the same path if the proposed pied-à-terre tax on second homes over $5 million moves forward, with Citadel already signaling it may walk away from a major Midtown development and the Real Estate Board of New York actively lobbying against it.

Landlords Sound the Alarm at RGB

Building owners warned at last Thursday’s RGB hearing that over 5,000 rent-stabilized buildings are nearing financial collapse, with landlords offloading properties at discounts of up to 90% as insurance costs spike and rent goes unpaid. NYAA CEO Kenny Burgos pushed back on the board’s own data, arguing their 6.2% income figure is a “millionaire average” that masks the real distress, and warned that a rent freeze would “deepen the problem immediately in the buildings that are already closest to the edge.”

Former RGB Member Discusses Rent Freeze Pitfalls

Alex Armlovich served as a public member on the Rent Guidelines Board last year and in a recent podcast he spoke at length about the potential pitfalls that come with freezing rents on all stabilized buildings. He spoke about how data backed previous rent freezes advanced by Mayor Bill de Blasio, but the current data doesn’t support one, which is why freezing rents could cause a lot of pain.

04/22/2026

If you have a large 1 bedroom or small 2 bedroom with a small yard or balcony In Sunnyside/Woodside or Astoria. I have a very qualified single male looking to move June 1. Please DM me!!

04/06/2026

NEW: Issue 5 of Housing New York Magazine
The New York Apartment Association is pleased to present the newest Housing New York Magazine.
Apr 4

In our latest issue we discuss the “Winter from Hell” for owners, New York City’s 100,000 vacant units, City government admitting majority rent-stabilized buildings may not be supportable businesses, and more.

Read the full issue below!

Featured Stories:
1. The “Winter from Hell” & The Energy Squeeze
Heating demand surged 10% this year during the coldest months the region has seen in a decade. While the Rent Guidelines Board projected a 6% decrease in fuel costs, owners were hit with a 10.3% increase instead. Coupled with a 150% rise in insurance premiums since 2019, nearly 10% of rent-stabilized buildings are now operating with negative net income.

2. A Decade of Defunding: The RGB Explained
A comprehensive analysis shows that since 2017, the RGB has adjusted rents upward by only 17%, while the Price Index of Operating Costs (PIOC) indicates a 40% increase was necessary to maintain building health. This 23% gap is the primary driver of the current fiscal distress and the growing number of building violations.

3. Why 100,000 Units Sit Empty
Through detailed case studies, this issue illustrates why property owners are forced to leave units vacant. In many instances, a full gut renovation on a long-term stabilized unit can cost $120,000+, yet the permitted rent increases would result in a monthly operating loss of over $1,200 per unit. The “Unlocking Doors” reimbursement program remains underutilized because it fails to cover the true cost of these modernizing renovations.

4. City Admits Rent-Stabilized Buildings are Failing
In a significant legal reveal, city court filings regarding the bankrupt Pinnacle portfolio admit that buildings cannot be run as supportable businesses if they consist exclusively of low-rent stabilized units. The city’s own corporate counsel noted that without intervention, these buildings will fall into further disrepair, shifting the burden of emergency repairs onto the city and tenants.

For more information on editorial coverage of housing issues important to you and your organization, or to learn about ways to support the New York Apartment Association and the Housing New York magazine, please email [email protected].

04/01/2026

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08/15/2025

New York Rent Stabilized Housing...

Many of these buildings are financially stressed and teetering on the edge of a “death spiral”—where deferred maintenance-driven repair costs start to exceed the cost of new construction.
– Sean Campion, Citizens Budget Commission

“The signs of distress are everywhere.”
“If we continue to ignore the mounting challenges facing rent-stabilized housing, we risk watching many of our most affordable homes deteriorate beyond repair.”
– Rafael Cestero, CEO of the Community Preservation Commission
former Deputy Commissioner of the Department of Housing Preservation and Development (HPD)

08/05/2025

https://www.instagram.com/reel/DMpqHWIO2vh/?utm_source=ig_web_button_share_sheet

08/04/2025

Available immediately for qualified applicants. Must have good credit score (700 or better)

Bright 2nd Floor Apartment Nice and clean second-floor spot with a cozy vibe. The kitchen has stainless steel appliances and a microwave. The bathroom has a window and a tub — plenty of natural...

08/01/2025

Have qualified tenants with good income. Great credit scores. Stable, clean. DM me if you have an apartment that you want to rent!!

11/17/2024

A Broken Housing Court System.

New York City’s housing court backlog is driving owners to the brink, according to reporting by ABC7. Owners tell the television station that they are unable to address squatter issues or remove non-paying tenants for years. This delay exacerbates financial burdens, pushing some small property owners toward bankruptcy as they wait for court resolutions. It’s not just owners and housing providers advocating for necessary housing court change. Senator Brad Hoyman-Sigal explained, “[Housing court], it’s unacceptable. Justice delayed is justice denied and that's exactly what we're seeing in New York City Housing Court.”