National Grid wants landlords and residents in the five boroughs and Long Island to use gas as efficiently as possible. The natural gas provider isn’t just jumping on the eco-conscious bandwagon to seem like a responsible company; they are offering cash rebates to landlords who install equipment that makes their buildings more efficient. This means landlords get to save money both because of the rebates and because of lower utility costs due to improved efficiency.
These improvements also benefit tenants. More efficient units are more comfortable because temperatures do not fluctuate as dramatically as with less efficient buildings.
Landlords don’t need … read more
A new report shows that rents in New York City are continuing to inch downward while concession rates are continuing to rise. For 37 consecutive months now, year-over-year concession rates have risen in Manhattan. 32.6% of new Manhattan leases contained some form of concession last month, while the numbers in Brooklyn and Queens were significantly higher—40.4% and 45.7%, respectively.
The median net effective rent, which factors in concessions, fell in these three boroughs, as well. In Manhattan it fell to $3,314; in Brooklyn it fell to $2,751; and in Queens it fell to $2,745.
Perhaps the only thing unusual to report is that leasing is down in Manhattan (17.5% to … read more
The proposal to rezone Inwood was heard by the City Council yesterday. While the city’s Economic Development Corporation hopes to advance a plan that would allow residential development in the neighborhood’s industrial area and allow for the construction of new developments on major thoroughfares, many residents of the largely middle-class area are opposed to the plan as it stands. They contend that the plan will drastically alter the character of the neighborhood and accelerate the displacement of tenants by making the area more expensive (thereby driving up rents).
So far both Manhattan Borough President Gale Brewer and Community … read more
Communication is key this day in age. With school shootings continuing to rise at alarming rates, you want to make sure your staff can communicate effectively in case of emergencies let alone on a regular basis. Whether you are custodial staff, emergency crews, construction workers, road crews, or any employee who needs to be able to communicate with others for job safety, project effectiveness, or emergency situations, Kenwood Radio has you covered.
With the advent of cellular phones, many believe the two way radio has become extinct like the dinosaur. However, this is just not true. I don’t know about you, but my cell phone does not get a good signal or signal at all in … read more
The Walt Disney Company announced yesterday that it will be moving its base of operations in New York City from the Upper West Side to Hudson Square after signing a 99-year lease from Trinity Church valued at $650 million. The move is expected to accelerate changes to both neighborhoods, as the area around Lincoln Center becomes almost solely residential and the former printing district downtown becomes better known as a media and “creative” hub.
Disney plans to build a one-million-square-foot facility on the property, which is the block bound by Hudson, Varick, Van Dam, and Spring streets (known as Four Hudson Square). The complex … read more
If you reduce or fail to maintain services in your building and a tenant makes a formal complaint to the Division of Housing and Community Renewal, they will receive a reduction in rent. Unless the service is considered de minimis (legally insignificant), this is their right under § 2523.4 of the Rent Stabilization Code. §2523.4(e) states that, for the reduction is service to be considered de minimis, a landlord must show that it has led to conditions “that have only a minimal impact on tenants, do not affect the use and enjoyment of the premises, and may exist despite regular maintenance of services.”
§2523.4(e) also provides a … read more
On Thursday, Judge Eileen Rakower of the Supreme Court in Manhattan overturned regulations that Department of Financial Services Superintendent Maria Vullo placed on the title insurance industry last spring. These regulations were created to prohibit title insurance firms from giving gifts to real estate brokers, banks, and other real estate professionals in exchange for business.
The New York State Land and Title Association, a prominent trade group who brought the case before the Supreme Court, argued that the regulation unjustly hurt insurers’ ability to market and promote themselves. The judge sided with them because, she claimed, the statutes, as written, exceeded … read more
Having a dependable internet provider is an absolute necessity for most New Yorkers—especially millennials. For this generation, the internet has become a fourth utility. As mobile devices become the primary means of connecting to the internet, the need for a solid Wi-Fi signal will become essential for any commercial or residential tenant.
One major problem that both commercial and residential tenants face with Wi-Fi service, however, is dead zones. A dead zone is exactly what it sounds like: It’s an area within the range of the router where devices can’t receive a Wi-Fi signal. Though more common in older buildings that were built using techniques that can … read more
Innovators have found a way to completely revolutionize the cleaning industry by leveraging science. Victory’s new electrostatic sprayer forces chemical particles to have a super positive charge (more than any other sprayer on the market), then break them down to one of 3 specific micron sizes 40, 80 and 110. Using the old opposites attract system, the more charged a particle is, the faster and stronger it will grab to a negatively charged particle. Thus allowing 360 degree coverage. Watching the video below makes the information plain as day. As the product is sprayed from one direction, the particles will actually not just pass the object and coat only one side, … read more
Developers are increasingly building in flood zones in Brooklyn and Queens. In fact, one out of every eight new residential projects in the city is being built along the waterfront. The largest number of these buildings are going up in the southern Brooklyn neighborhoods of Brighton Beach, Coney Island, Gravesend, and Sheepshead Bay. Areas like Long Island City in Queens, as well as the North Brooklyn neighborhoods of Greenpoint and Williamsburg, are also experiencing heavy growth.
While it’s obvious what the benefits of living in these areas are (access to vast nightlife and dining options, proximity to mass transit, and spectacular … read more
There’s a big difference between bees, hornets, and wasps. One produces honey and pollinates flowers (bees); the other two are instruments of pure evil (hornets and wasps). However, all three make nests, and all three of these insects can potentially be a nuisance to tenants. If a tenant calls to complain about a nest, here's what you need to know.
All three are defined as pests under §27-2017(b), which was created by Local Law 55 of 2018. While this law will not take effect until 01/22/2019, it is best to follow it. Because these insects are pests, this means eliminating a bee, wasp, or hornet nuisance is your responsibility if the nest is on … read more
A study conducted by the Center for Urban Future found the Brooklyn, Queens, and New York library systems will require $947 million in upgrades and maintenance to continue serving the community at the optimal level. This number includes not only $434 million for emergency repairs to aging buildings, but also improvements both to accommodate the rise in the number of visitors these libraries see each year and to equip the facilities with more advanced technology.
The Brooklyn Daily Eagle has more.
The Manhattan tech firm Rezi hopes to spend $10 million within the next year purchasing leases on vacant apartments … read more
They sure don’t call it 6S for no reason. Let’s take a look.
Brutabs 6S rates a whopping 1 on the health rating scale, while most other disinfectants are a 2 or 3. This means Brutabs are much safer to use around children and do not create any breathing issues, chest pains, or any other health risks you would get when using other disinfectants.
Brutabs 6S was designed for accurate dispensing without measuring. Just use one 3.34 gram tablet per quart bottle and one 13.1 gram tablet per gallon for standard disinfecting. No need to measure and pour like bleach.
Manhattan residential sales slid again in the second quarter. Year-over-year volume dropped by 17%, to 2,630 deals, which is just under the 10-year average. It is not dire news. It is just an indication that market forces are less favorable to sellers, largely because inventory is increasing, something that is evident due to lack of bidding wars over homes.
One reason for the increase in supply is due to increased mortgage rates, which has forced buyers who were on the fence about purchasing a home out of the market. Consequently, many of the moderately-priced homes that would have been readily snatched up just a year ago are being … read more
The Americans with Disabilities Act is the law of the land. For landlords and property managers, this means that reasonable accommodations must be made to ensure that buildings and facilities are accessible for all residents, even those with disabilities that impact one or more major life activity. Furthermore, landlords are barred from requiring persons with disabilities pay extra as a condition for receiving reasonable accommodations. Disabled people are considered a protected class under the Fair Housing Act. Landlords cannot refuse to rent to someone because of their disability. This is a form of discrimination. … read more
This service gives members instant access to LNY in house DHCR, HPD, and Property Management Counselors for immediate help when you need it.
Just like a concierge at a hotel who knows how to guide guests and to remove some of the uncertainty of trying something new, our staff counselors goal is to provide information and guidance to landlords and to take much of the uncertainty out of owning and operating a property in New York.